Oil prices will double within a year.

[Bursche]

cdude1034 said:

Bursche said:

rendo said:
What the hell? Give a TRILLION dollars? It doesn't WORK that way. Not only is that not possible, unless it's over a PERIOD of time, and certainly not THAT much, your country is SO FAR in debt that it has bigger things to worry about.

Oil is a bubble, and it will burst. Until then get used to rising prices. Maybe if your country stopped PRINTING money out their asses, the dollar wouldn't be so crippled right now.

The Manhattan Project cost 2 billion back in the 1940's and employed 130,000 people. To find and implement the next major way of energy, it will cost some dough. Did I say it would be all at once? It would be spread over years of research and development, and the trillion dollars would be the cap of money.

You dont realize that oil will eventually run out, and the sooner we get onto a better and more importantly, cheaper renewable energy source, we can save the rest of our petroleum for our food and consumer goods. A trillion dollars is only 1/4 of our budget every year. Spread over 8 years and funded by multiple countries, it is easily doable.

The problem with not having enough oil is that we've been "running out" since the '70's. No one knows exactly how much oil we have, the capacity we have to refine it, or how much there's left in the Earth. All we can do is speculate...

And it's those same speculators that more or less control the price at the moment. The bubble will burst, it's a matter of when.

Which is why we need to start preparing for a world without petroleum. Lets say there is enough oil to last us another 50 years, we need to start making sure now that we have enough to last a lot longer for food instead of oil for our cars.