Increasingly, varioius segments of social and economic strata globally are coming to the grips of the coming mighty crash. Judging from the fundamental drivers pushing this thing, it will be a crash on a scale not seen since the days of Noah.
Whereas, 12 years ago the term Peak Oil wasn't even coined yet, these days the big picture of energy as it relates to food and population and ecology and of course petro dollars / fiat currency is increasingly going mainline.
John Embry of Sprott Asset Management, indicates that the investment world is taking note of the fundamental shifts in the world affecting us all.
Check this out..
Embry also added: “There was an interesting article in Forbes. It was an interview with the CEO of Shell, Peter Voser. He was talking about their view on the demand for oil in the next 30 or 40 years, out to 2050. Shell believes the demand for energy could double by 2050.
Voser is not at all optimistic about alternative energies during that time frame. So, basically oil is going to have to supply most of the new demand. He responded to the question have we reached peak oil, which I believe we have, but he says that we’ve certainly hit cheap peak oil.
Consequently, if you are going to have any kind of growth like that, it’s going to be with extremely expensive energy. I don’t think that’s possible. I just don’t think the world can absorb dramatic increases in the energy costs and continue to grow or the population continue to grow for that matter.
It means that there is going to be some disruption coming. I find it amusing that people talk about ten billion people on earth by 2050, and everything running as normal. We are having trouble functioning now, with seven billion people. The fact that we’re going to try to feed and provide energy for 50% more people doesn’t seem to be doable. Time will tell.”
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