China's influence and oil no longer priced in Dollars

If the price of oil was ever switched to Euros, which it should be, there would be a war. Why do you think the US military went there? Duh? Sadaam was going to start selling his oil in Euros. Its a simple equation. The dollar is crap now. The only two things propping it up are a) oil is still sold in this currency and b) they still have the best military on the planet backed by Great Britain of course.

-Wesley
 
I live and work in China now...its extremely busy over here and has the buzz that Ireland had during the Celtic Tiger years.
 
didum said:
Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline and the price will inevitably climb with only minor variations in accordance with the economic situation pertaining at any particular time. Its hardly a fallacy despite what the oil companies would like you to believe. Oil, gas and their associated products were organic and are most certainly finite - long as geological time appears to most of us. Fiddling at extracting from tar sands in Canada and desperately trying to exploit small fields in the relatively young Atlantic Ocean show the chronic state of the industry - they know they can't keep up with increasing demand - greed makes them desperate liars.
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Peak Oil is when the rate of increase in demand is the same as, or greater than, the volume of new oil discovered. Technology increases yields from new fields, and makes extraction from oil fields viable again, but eventually we will run out. That's not just no more oil for cars but no more plastic for everything from computers to artificial joints.
The whole line of "it's all greed, greeed!! They are evil, I tell you, evil!" can be seen through by anyone older than 9. We need energy and oil is the best natural source. Without it live would be much harder and many of the poorest people in the world would be hit hardest (hydro-electric power is bugger all use in much of Africa where there's no energy infrastructure and electricity is generated locally using a diesel generator).
 
Thanks to the experts for their informative posts and viewpoints.
So the future is electricity from renewables and we are going to have electric cars on the roads.Hopefully this will all pan out without major hitches and the average joe soap will be able to drive his car around as before.We are all addicted to cars and the amount of energy expended driving them around is so wasteful.We really should have more rules about wasteful driving such as
1 only one drive to the supermarket once a week.
2 Use public transport where available
3 compulsory car sharing
4 Public transport for any journey over 30 miles

I would agree that the above measures are not exactly a vote winner but a start has to be made.Whats the point of saving heating oil by insulating a house and then going for needless drives in the car? And no point in increasing the price of petrol as this won`t deter the rich.....the poorer motorist thinks twice before getting into his car as it is.
 
sunrock said:
Thanks to the experts for their informative posts and viewpoints.
So the future is electricity from renewables and we are going to have electric cars on the roads.Hopefully this will all pan out without major hitches and the average joe soap will be able to drive his car around as before.We are all addicted to cars and the amount of energy expended driving them around is so wasteful.We really should have more rules about wasteful driving such as
1 only one drive to the supermarket once a week.
2 Use public transport where available
3 compulsory car sharing
4 Public transport for any journey over 30 miles

I would agree that the above measures are not exactly a vote winner but a start has to be made.Whats the point of saving heating oil by insulating a house and then going for needless drives in the car? And no point in increasing the price of petrol as this won`t deter the rich.....the poorer motorist thinks twice before getting into his car as it is.
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If China and the USA don't do anything then there's bugger all point in us doing anything either.
 
Agree with you on that point.I argued in a post more than a year ago that I wouldn`t advise anyone to use less heating oil or electricity below their comfort level just so the drivers of SUVs will get a few months extra motoring as oil runs out.
The thing is though, we need to reduce energy use just to save money.
 
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