I was listening to Bloomberg Radio this morning and they had Mario Gabelli of Gabelli Funds on, when asked about the recent OPEC agreement to set limits on oil production and what effect it will have on prices he said that it doesn't much matter because of tech of the USA to bring oil up and that members of OPEC will cheat just like they always have done in the past. Here is the part that caught my attention, he went on to say that in 30 years the price of oil will be $0.00 (yep he said zero) because of demand and they are trying to sell as much as possible now.
That's interesting if true, oil producers see their end is near. I remember sometime around 2005-2010 predictions were made about 'peak oil' by 2015, high demand taking it up to $200.00 per barrel but we have a glut instead. The 52 week high-low is $53.72-$34.55 currently at $50.00
It seems to me that 30 years is a very short time for such a massive change from oil to ??. I hope I am around to see it,...I think.
Methane Hydrates - Extended Interview Extracts With Natalia Shakhova
Seismic activity could release hundreds of gigatonnes of methane from the arctic once the ice is thin enough. "The worst thing could happen." Having foreseen the end of the world she looks depressed. Women are so emotional.
In the Pamir Mountains of Central Asia, time has stopped working.
Communities in the region traditionally kept time by pegging it to environmental markers, such as melting snow or the first appearance of a migratory bird. But these “ecological calendars” have ceased to function properly due to the effects of climate change.
An array of environmental shifts in the region, such as unusual weather events, untimely glacial melts, lake bursts, and changes in animal and bird migration patterns, have thrown the calendars so far off kilter that most villagers no longer use them, and they struggle to reliably predict cues for planning agricultural and cultural activities. (...)
Stephen Moore, a visiting fellow at the Heritage Foundation who was formerly the conservative organization’s chief economist, told radio host Janet Mefferd last week that the “dingbat” idea of climate change is “one of the greatest propaganda campaigns in world history.”
… I have to tip my hat to the left, this has been one of the greatest propaganda campaigns in world history that the left has pulled off. I mean, they’ve taken this dingbat idea of global climate change and they’ve put it in the schools, they’ve put it in the movies, they’ve put it in the media and the churches — you know, I’m Catholic, even the pope talks about climate change. So it’s very alarming how this propaganda campaign, that they made this stuff out of, almost completely out of thin air and they’ve convinced millions and millions of thought leaders that this stuff is real.
Moore added that the idea of climate change is “very Stalinistic” and is “a religion,” adding, “They’d put me in jail if they could.”