Saudia Arabia: $200 Oil In 2 Years
According to CNNMoney.com:
Saudi Arabia warned oil prices could spike to beyond the near $150 record high of 2008 within two to three years, as energy leaders on Monday decried a blow to investment in expanding capacity due to the financial crisis.
Yes, this is a serious threat that I had been echoing for some time now. The lack of investment due to the current financial crisis may cause a serious oil shortage in the near future causing sudden spike much higher than the one we had experienced before.
Russia did mentioned it before last time when they declined to reduce their oil supply specifically predicting a future oil shortage if you can remember it.
This can be the REAL oil crisis that really have more demand then supply causing the market to correct the difference in terms of cost. That means a much higher oil prices in the future may be possible unless there is the following to happen...
- World population reduced by war, epidemic, disaster and birth controls.
- Economic Crisis to crash one more time...this time severely causing mass die off due to revelation that money is not that valuable after all...it's a piece of paper easily replaced by the government at a single press release.
- Global electronics suddenly malfunction due to a natural solar storm or EMP attack using high altitude nuclear explosion, this will cause at least half of the world population to go back to stone age hence using less oil.
- Mass suicides?
- Cannibalism becomes popular!?? Ahhh!
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