According To Reuters:
Nov 6 (Reuters) – The growing financial crisis and plunging energy prices have forced oil companies to scale back spending and delay projects, with expensive ventures in the Canadian oil sands hardest hit.
Below is a list of projects that have been delayed or scaled back in recent months, as well as other related news.
Read the full article at Reuters
- This confirms once again my gut feeling that the lowering of oil prices will impact seriously on the oil & gas projects especially those costly non-conventional oil “production” mega projects such as Canada Tar Sands, Deep Sea Oil wells, expansion plans to boost oil extraction and you probably will never see a drop of oil from USA Oil Shale shattering the ultimate oil reserve in USA “myth”.
Unless oil prices goes above $90 per barrel once again and oil discovery can go up one Saudi field per year….there may be oil shortages in 2 to 5 years time.
The oil shortages probably will affect the poor countries first however once the oil producing countries goes ballistic on sustainability instead of profitability…foreign oil companies may be kicked out of their countries in an instant nationalizing the oil industry and feed their local first before their citizens goes “holy war” on the government.
These means extreme mass desertification of urban cities in the world where huge amount of oil is required to bring life to these cities. Oil & Gas are currently responsible for gigantic supply of food, water, electricity and transportation that supports the life in big cities.
Without oil alone will break the connection between life in cities…unless they are 100% sustainable with renewable energies regardless of cost.
The mass migration out to the rural may not be the answer as well because it will mean placing millions of hungry urban folks who does not know how to farm but only to consume in a large farm land filled with food that can disappear in hours…before they ripe.
Land grabbing and civil war may start between farmers and urban citizens this may spark political chaos on who they should support….fighting the farmers may bring about a 100% die off for that city…but fighting the urban workers bring about an total economic collapse.
If the oil was suddenly disrupted more then 40% (e.g. straits of Hormuz blocked by war), that means the world will return back to 1950s where people rely on coal to generate steam to power their vehicles.
All these can be prevented if we move into ELECTRIC powered technology powered by renewable energies regardless of cost.
The idea is all our MONEY is base on debt…fiat money. It can be printed regardless of massive protest by the public to save a few greedy financial corporation…why can’t it be printed to save the whole population from ultimate die off?
MONEY will be then be worthless but life is worth more then money…unless profit and economic gain wins over stability, peace and sustainability.
Economic growth will eventually stop when the limits of natural resources are gone…or reached peaked maximum production per day.
The scary thing that the world had been talking about this so many years ago and they had been talking about the natural selection theory.
This crisis may spark either natural or man made disasters that will face out the weak, deadly epidemic, earth quakes, nuclear wars, famines, drought, terrorism, bio & chemical disasters, economic collapse and ultimately man will kill another man for food with sticks and stones.
All these can be easily prevented if the politician know what they are doing, for wealth or survival…they have to choose.
Solutions base on profitability may end but survivability economic will come into play. The richest person in the world will be the person with FREE electricity from renewable energy, FREE water from water creating machines (air to water), using the FREE water he can grow FREE food (hydroponic & simulated sunlight).
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