World economies rely on infinite growth. Oil is a finite energy source.
Capitalism or Socialism or mixed economy. The economy needs oil for everything. Mass production of goods and services, food to feed its people. The main source of production is oil. When the oil supply is slowed down, the economy slows down. Every economic crisis has been directly related to an oil crisis. The discovery of oil peaked in 1962 and since then the amount of oil reserves discovered worldwide despite the advancing technology has decreased over the last 50 years. World oil production has soared since 1960. Population in 1960 around 3 billion. 50 years later world population is around 7 billion. Oil peaked production peaked and is declining. Oil prices will rise. Increased demand, limited supply forces the oil prices up. Oil prices only way is up.
Development of china and India and the developing world all want their oil. Infinite high demand of oil but limited supply of oil = exponential growth over time in oil prices. Oil, really is black gold. Safest stocks in the world are oil and gold due to their limited supply but unlimited demand. Oil barrel price of $US75 will double within two years. Gold price will double in two years as well. All gold reserves are expected to run out within 30 years. All oil reserves will run out within 50 years
What will happen when the oil supply runs out?
Politicians are gearing us up for the end. The people really have no idea what lays in wake for the unfolding of the 21st century. Peak Oil and the world depopulation in the 21st century. Only the strongest and most affluent people will remain.
If they revealed the truth that we do not really want to know. There would be widespread panic and chaos.
Will there really be a full economic recovery? Is this the beginning of the end of time?
