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Originally posted by kojac
Oil has hit a record $74 a barrel amidst concerns about Iran's nucleur issue.
My question is, is the economy ready for continued inflated crude prices?
If it's $74 at the moment, waht will happen if there is a military conflict in the gulf? Surely we can expect prices to exceed $100 a barrel?
Apart from higher prices at the pump for the average consumer, surely this will effect prices for all consumables from food products to daipers?
How will this effect our economy and the average persons standard of living?
It seems petroluem companies have been investigated alternative fuel sources...is it too little too late?
It has already become almost too expensive to drive to work...what of the future?
if there is another nilitary conflict in the gulf. look for oil to be 150 minimum.
Originally posted by WyrdeOne
I see the biggest impact being grocery store prices/stock.
When it costs more to ship a truck full of cabbage 100 miles than you can hope to make from the sale of the cabbage, the cabbage is deemed unprofitable and it doesn't get shipped.
If that happens with enough necessities...
I think people with any shred of survival instinct ought to be securing a supply of food and water that is unconnected to the fuel-reliant infrastructure we all take for granted. Some areas of the country simply cannot feed themselves without massive amounts of food imports (on a daily basis, like NY, NY for instance, the truck traffic is astounding, but people gotta eat).
Costs are going to rise through the roof to keep wealthy people fed, and what then?
The disaster relief agencies can't even get water and MREs to a half dozen states in one region, nevermind ALL the states at approximately the same time. It's not looking good.
Now is a good time to be invested in livestock, I'll say that much...
Originally posted by Omega85
Over here we pay about two to three australian dollars a ltr. im not sure what the dif is though i heared by the year two thousand ten we will be paying about
5 dollars a litre . how ridiculouse .
Over here we pay about two to three australian dollars a ltr
Originally posted by kojac
O.K Omega, i don't know what part of Australia you claim to be posting from or whether you drive....but two to three dollars a litre?
P.S i am posting from Queensland..
[edit on 12/06/2005 by kojac]
Speaking to other South American leaders, Chavez said his conflict with Washington is rooted in the U.S. thirst to control oil. He said the Americans will be denied that in Venezuela, which is the world's fifth-largest oil exporter and one of the biggest suppliers to the U.S. market.
If the United States attacks, Chavez said, "We won't have any other alternative - blow up our own oil fields - but they aren't going to take that oil."