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Interesting how Greenspan plays down a 'potentially looming' oil crisis with the big US election barney just around the corner.

Let's see. In early September, Nymex oil was around $40 barrel. In mid October it hits $55. Draw a progression line through THAT graph and it forecasts $70+ by mid November! And that's not BAD?

He also waffles on about how within 50 years world governments will develop alternative sources (obviously, only the RICH DEVELOPED ones!). Hmmmm. I'll bet within 50 months we'll be screaming for that technology to replace the $4.00-5.00 litre unleaded price we may well be forking out!

And besides, how will the mass of desperately poor, oil/coal dependent countries of the world pay for what is likely to be ultra-expensive oil/coal alternative energy technologies? Interesting times ahead indeed...

AJ

<blockquote data-quote="Aussiejeff" data-source="post: 2878" data-attributes="member: 61">Interesting how Greenspan plays down a &#039;potentially looming&#039; oil crisis with the big US election barney just around the corner. Let&#039;s see. In early September, Nymex oil was around $40 barrel. In mid October it hits $55. Draw a progression line through THAT graph and it forecasts $70+ by mid November! And that&#039;s not BAD? He also waffles on about how within 50 years world governments will develop alternative sources (obviously, only the RICH DEVELOPED ones!). Hmmmm. I&#039;ll bet within 50 months we&#039;ll be screaming for that technology to replace the $4.00-5.00 litre unleaded price we may well be forking out! And besides, how will the mass of desperately poor, oil/coal dependent countries of the world pay for what is likely to be ultra-expensive oil/coal alternative energy technologies? Interesting times ahead indeed...AJ</blockquote>

[QUOTE="Aussiejeff, post: 2878, member: 61"] Interesting how Greenspan plays down a 'potentially looming' oil crisis with the big US election barney just around the corner. Let's see. In early September, Nymex oil was around $40 barrel. In mid October it hits $55. Draw a progression line through THAT graph and it forecasts $70+ by mid November! And that's not BAD? He also waffles on about how within 50 years world governments will develop alternative sources (obviously, only the RICH DEVELOPED ones!). Hmmmm. I'll bet within 50 months we'll be screaming for that technology to replace the $4.00-5.00 litre unleaded price we may well be forking out! And besides, how will the mass of desperately poor, oil/coal dependent countries of the world pay for what is likely to be ultra-expensive oil/coal alternative energy technologies? Interesting times ahead indeed... AJ [/QUOTE]

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