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newculture (November 30, 1999 at 12:00 am)
@TurnKeyOil I would not be surprised if it stays below $100 for a while; although, eventually, it may be priced much, much higher in real terms... the question is, what does that look like in nominal terms?
TurnKeyOil (November 30, 1999 at 12:00 am)
Interesting peak oil points. Very bullish for oil next year, might never see double digit oil again IMO!
PeakPetro (November 30, 1999 at 12:00 am)
The bottom line in our perspective is to find ways to capitalize in the sharp increases we expect in oil prices.
konachai1 (November 30, 1999 at 12:00 am)
I was reading (from more than one source) that Canada is the biggest supplier of oil to the US not the middle east, is this wrong or right.
EllleJayy (November 30, 1999 at 12:00 am)
hey, im doing a presentation in my economics class and i wanted to include your video. i was wondering if it was possible for me to somehow download it, or if you could maybe send it to me?
newculture (November 30, 1999 at 12:00 am)
That's a great question.
Dubai did have a huge construction boom. They had lots and lots of very skilled workers from other countries coming in to do the construction. I know they employed some more local workers, but a lot of it was fairly skilled.
Once the oil price collapsed, most of these foreign workers left for home, going so far as to abandon their cars at the airport. The projects stopped, many apparently at a standstill.
donpaolo1980 (November 30, 1999 at 12:00 am)
but this is kinda strange, since more and more money goes to the arab countries, then shouldnt those countries be developing at a super high rate, creating more jobs, and thus opening the doors for imigrants....but still the arabs and other middle eastern people come to Europe and other western countries. Why is that?
newculture (November 30, 1999 at 12:00 am)
Technically, the peak oil era began in the 70's, because that is when the barrels of oil consumed, per person on Earth, began to slow its growth, and begin to decline.
Ignoring population, peak oil for regular oil that comes up the pipe on its own was probably in the 2005-2007 range.
For the amount of oil available on the export market (important for oil importers like the USA), that peaked prior to 2005.
Even including most everything, the peak was either 2007-2008, or quite soon.
omar3rab (November 30, 1999 at 12:00 am)
thanks man
i have a competition and this has helped me understand and get the information i need
and i think that the oil peak era will happen soon, right? answer quickly please and thanks :)
OMGEnterprise (November 30, 1999 at 12:00 am)
The first trillion barrels of oil that has been consumed has been primarily of the 'cheap easy' variety.
The next trillion barrels is not so cheap and easy. Current estimates place the cost at between US$80 and US$150 per barrel to exploit.
There could be an answer to the problem as far as the physical requirements of an increasing world population is concerned - while reducing the environmental impact at the same time
The bigger problem however is this. Could mankind handle it responsibly? |
