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Pastimes : Where the GIT's are going
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To: TimF who wrote (155591)12/12/2007 10:27:53 AM
From: Augustus Gloop  Read Replies (1) of 225578
 
Clearly I was using 11-15 PB for oil. We spent most of the 90's below 22 PB and now we're at 92 - not 78. So lets just say we're averaging 5 times the drag. This will not work for very long - I've said I fear a return to the late 70's and even though some circumstances are different I believe the energy issue remains the same. The bigger concern for me is that unlike the 70's we now have countries like China eating up supplies and that could mean that oil prices don't fall back the way they did in the 80's / 90's.
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