Gas Prices Predicted To Top $6.00 Per Gallon In 2009
Some analysts claim that Saudi Arabia will not reach peak production for a few more years, while others claim Saudi Arabia is at peak now. Regardless of which analyst is correct, Saudi Arabia is getting close to peak. Brazil, Venezuela, and Iraq have yet to reach peak oil output. However, the amount of spare capacity available in countries that have yet to reach peak oil production does not exceed the declines experienced in countries experiencing declining oil production. While supply remains constant, demand continues to grow at a steady pace. For decades, giant US corporations have been moving their manufacturing plants to foreign countries to take advantage of lower wage costs. Since the source of any country's wealth is it's natural resources and manufacturing ability, all those countries which have created manufacturing plants are now becoming wealthy. Citizens of those countries are moving from poverty to middle class. In the last 2 years alone Brazil has lifted 20 million citizens from poverty to middle class. China and India have done ten times that amount. All these new middle class consumers want the lifestyle enhancements common to the middle class: more meat in their diets, better homes, and a means of personal transportation for more distant and frequent travel. All of those require energy. If supply and demand figures were not enough to cause energy prices to rise significantly, there is another factor as well: the value of the US dollar. The international value of the dollar has been declining for the past few years. The decline is accelerating due to the subprime mortgage crisis.Pages: 1 [2] 3 4
Xaíec_Bèëøï comment`s:
I must admit, the one who wrote the fun îòæåã.
22.03.2010
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