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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Neocon who wrote (125797)	3/9/2004 9:44:35 AM
From: Noel de Leon	Read Replies (1) \| Respond to of 281500

"I presume the usual array of fuels: oil, hydroelectric, nuclear, as the case may be; and their successors as they become cost efficient: wind, solar, hybrid, etc. In other words, they will use what is standard at the time, very likely...... " By 2020 demand for oil will have increased 65% while world production is predicted to be falling. Since oil is the primary fuel for transportation and an important component of production costs one can expect severely rising costs for goods and inflation. This combined with high present day levels of consumer debt creation, high balance of payment deficits as well as high current account deficits and low job creation lead to a very dark future for the US economy. The Euro seems to be replacing the dollar as the reserve currency of the world as the rate of investment in US based stocks falls.