2010: A Gas$$$ Odyssey

 

It looks like 2010 is the deadline for peak oil and a potential financial downturn:

“… on June 27 the Vice President of Kuwait’s national oil company gave a talk to a group of energy industry who’s whos. He claims: ‘By 2010, the production of the fuel that has driven the world’s economy will start to rapidly decline. This will conflict with the steadily increasing demand for oil. The collision of these two trends will lead to shortages and increased prices … Due to unequal distribution through the world of oil and gas supply and consumption, [the upcoming] transition will result in significant shifts in global power and wealth.'”

Analyzing this report, John La Grou writes, “We will all be simplifying our lives due to new economic realties. This is a very healthy transition in many respects. But with simplification comes lower economic expectations. Economists will call this ‘recession’ or perhaps ‘stagflation’ or worse—jobs will be lost, families will be dislocated, and lives will be changed. Life in the peak oil era will be not be business as usual.”

Justin Long at Momentum Magazine writes, “Kevin Kelleher (a blogger focused on alternative fuels) analyzes a report written by Jeff Rubin (CIBC World Markets) outlining a grim possibility of $7/gallon gas by 2010 that will last until 2020. Once again, we are well advised to begin preparing for a potential downturn in giving, exacerbating the already tight financial situation due to the declining U.S. dollar.”

Hopefully by 2010, I’ll be driving one of these (estimated to get 282 MPG! OMG!):

New VW Car in 2010

Happy Fossil Fuel Independence Day!

 

 

Posted on 07-04-2008

Comments

  1. A long music list project for a long weekend | higher ed marketing says:

    July 4th, 2008 at 9:49 am

    […] Yes, it’s the Fourth of July, Independence Day (and Fossil Fuel Independence Day, according to Steve Knight), and I should be getting ready to celebrate. I will, soon. But there’s some important blogging to be done first. […]

  2. Bookmarks about Odyssey says:

    August 1st, 2008 at 8:00 pm

    […] – bookmarked by 2 members originally found by jrichard510 on July 19, 2008 2010: A Gas$$$ Odyssey http://www.knightopia.com/journal/?p=921 – bookmarked by 3 members originally found by Jaykul on […]

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