Arctic Oil 10 years away at least
After reading the article at the above word button, I realized that oil likely won't be developed in the arctic for at least 10 years now until oil prices rise again or way after. Because of this, this likely will also contribute to a future oil shortage which also will contribute at some point to unaffordable prices for oil 1, 2, 5, 10 or 20 years from now whenever they jump. Until then they likely will hover between 25 and 50 dollars a barrel for oil with some spikes along the way. So, when they do rise from not enough oil being pumped it likely could be relatively catastrophic for the world the longer low prices are caused by the middle Eastern proxy wars.
The other problem with the 10 years estimate is that 15 years from now the Maunder Minimum on the Sun is going to cause more ice to form (a lot or a little) in the arctic. So, they won't be able to drill after 15 years from now for another 30 to 40 years either.
However, if you are ecology minded you likely will be very happy about this until you have to buy gasoline or diesel or any food or goods shipped by gasoline or diesel whenever the price spikes way up beyond what anyone has ever been used to at some point in the near or far future.
But, the longer prices stay this low the worse it will tend to be for the world whenever the prices go up really high.
Low prices will be good for the average person, but high prices will likely be catastrophic if and when they arrive for most of the world.
No comments:
Post a Comment