Posted: Jun 19, 2008, 7:53 PM CST
I will repeat from my other thread; The world economy and survival is all based on oil. We are running out of it and faster than you think. China and India has entered the car buying arena. North America imports about 70% of its required oil, China must import all of its oil....do the math. Alternatives ? There are none. Hydrogen powered vehicles take oil in order to produce them, as well as any other form of energy producers.
We hit the peak of all remaining oil reserves on this planet in the 70's, we've been sliding down the slope to depletion since.
If you have any doubts about this, just hang on another year, you will see gas hit $6.00 a gallon in N. America, and everything that follows, from food to tooth-picks, because almost everything that is manufactured is done so based on fossil-fuel.
Ever hear of Hubbard's peak?
It is the point at which oil production begins to go down forever. It is the reason behind rising gas prices. The halfway point in supply is called “peak oil,” or also, “Hubbard's Peak.” Dr. Hubbard's predictions were accurate for American reserves, correctly predicting the U.S. had pumped half its reserves by 1970. He made these predictions in the 50's and was laughed out of the profession.
The so called "reserves", are inflated in order to manipulate the oil producers quotas. It's over.