Quote:
Originally Posted by djacobox372
High oil prices are a good thing in the long run. Let them drive up the price, get fat on the extra income, and then fall apart like the soviet union did once the prices drop again.
Here's the trend:
1) oil prices go up
2) Citizens of oil rich countries become dependent on government subsidies of their wealthy government
3) Investment in other less lucrative industries is devalued by the ridiculous profits of the oil industry. Citizens don't have to work or be innovative, laziness takes over.
4) oil prices go down
5) gross national income of oil rich nation drops over 50%
6) oil dependent government cannot afford to continue to subsidize their citizens
7) there are no jobs and no alternatives in place for people to turn to once the oil $$ stops flowing
8) people revolt and government falls
It's a good thing...
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In part that is true, but, the price can be manipulated to keep alternate and expensive alternate fuels from successfully entering the market - and OPEC members have threatened to do that.
The sovereign oil funds are using their windfalls to buy into other industries in our countries, e.g., owning large chunks of stock. They are diversifying and using those funds to secure their wealth elsewhere. So the parasites move from one source of food to another, without developing themselves and their hosts don't scratch them off or swat them.
In the next 10-20 years the combination of wind, solar, hydrogen, fuel cells, nuclear, etc., will start to be significant, and it will be a matter of seeing what transisitions. But then there is the rising political/religious/demographic crisis that is developing, and things can change rapidly and drastically.
In the space of three years the Nazis went from hosting the Olympics to rolling all over Europe, and within 5 years of that a world war was over and the whole map and regimes had changed. Before that WWI was over in 5 years, with almost all the monarchies of Europe gone or kept as toys, and the Caliphate gone, Communism established, and Fascism too.