Collapse: doomsday scenario on oil is a riveting film

[Butterfly Mage]

Oh by the way we have over $650 Trillion in derivatives floating around the globe.
The total GDP of the World is only $50 Trillion a year.


Yeah, that last one is going to be the thing that will doom the world economy for decades when the eventual reckoning happens.

[ksstathead]

Oil will repeatedly be a trigger in economic crises, as it was in 2008. Any time supply is disrupted or the big Asian economies surge in oil demand, prices spike in US/Europe, and those countries are in the tank again.

Current US agriculture, construction, industry in general cannot absorb the shock fast enough, and layoffs ensue, dragging down the rest.

[Chuck]

Every recession since 1973 was preceded with a spike in oil.

While plentiful energy does not assure a good economy (see Nigeria), the economy does run on energy.

[St. Mushroom]

Guess I'll have to wait until Collapse leaves Netflix limbo.

Trying to wrap my head around life without rubber tires. Bicycles started out with solid wood and metal tires, rubber and eventually air came later. Wondering if there's a modern method that gets along without rubber and still manages to dampen vibrations, even if its not as durable. Or are we back to wood again?

[Earthling]

When these doom-and-gloomers were screaming the loudest, and the stock market was crashing hard, was when I stepped in and bought stocks.

I'm laughing all the way to the bank...

Harry

[Tochatihu]

I absolutely agree that 'the two large Asian countries' will have increasing crude oil demand for two more decades (if not longer). However I would not be looking for massive surges. The discretionary money in the hands of consumers here goes up with export revenue. If enverybody else is not buying Asian exports, Asians are not going to spike their vehicle or fuel purchases.

Still trying to figure out the new CH laws (from last year) on retail proce control on gasoline etc. Before then, the price controls were much tighter. When the global crude price was over $USD 100/bbl, the CH refiners were loosing money. So they simply reduced their refining flow. Long waiting lines at gas stations and the like resulted.

Anyway, for a variety of reasons I'm guessing tha the Asian crude oil demand is not going to be very spikey.

Absolutely no content here on the movie, I've not seen it. Actually would rather see a happy film. The whole CO2/climate/public perception thing has me a bit glum.

DAS