What is the future of oil?

Question

I just want to discuss that what will happen in the next decade. THe price,supplyment,etc

Answer 1

Oil's future --expensive and ultimately of non-OPEC origin, probably $100 a barrel from the Athabasca Tar Sands.

In the meantime (5 years? 15 years?) there will be frequent roiling of the price because the world is at 99% refinery capacity and the OPEC providers are sitting on geopolitical dynamite.

Since we have wasted 30 years and uncounted billions on the "Department of Energy" which has come up with no strategic alternatives, we can't just reduce our use of oil and go to an alternative. So we're stuck with the monopoly for quite a while longer.

You didn't mention it, but the NATURAL GAS shortage in the next decade is a real quagmire.

There is a very cogent, thorough overview of this topic by Kevin Phillips in his 2006 book, "American Theocracy." You might want to look at that, carefully.

Answer 2

Well for now the price of oil will keep on rising... back in 1990 they said there was only about 10 more years supply left and I heard them say theres only another 10 more years left last year... they are lying to us so they have greater control over the price!! If they wanted to they could explore for more oil

But the the major fact is back in WW2 Germany had a crisis and ran out of oil... this is the only reason they had attacked Russia (which was a neutral country). So during the war Germany managed to develop all these eco alternative fuels and they did it successfully running an army's air-planes, warships, submarines, etc! I believe this technology was never em-brassed by the rest of the world for 2 reasons... 1) because it was German.... 2) because oil company's would have went broke

Ultimately with the introduction of such hybrid cars... the world has started to look efficient solutions!! Sooner or later these solutions will get better with technology and be marketed!! This will be the demise of crude oil!

.

Answer 3

Unfortunately, very bleak. It won't be too much longer before the markets will be cornered by a few ( countries,people) as supplies inevitably dwindle. Without a replacement energy source, there will be an extreme crisis in the have not areas which will be catastrophic in size. The population of the world will quickly decrease because of famine wars and lowered birthrate. This in itself would have some positive results in that the pressure on the environment would ease thereby lowering the inevitable flooding that is coming.

Answer 4

The future of oil? It will eventually run out, that's the future of oil. Some models predict that we will begin to experience critical shortages as soon as 2040. Never mind the price of gas - we won't have enough to generate electricity and heat our homes by the end of this century. Unless we embrace alternate energy sources in a big way, the end of oil will mean the end of Western civilization as we know it.

Answer 5

Bad, prices are making people madd. (If America wanted a war for oil we could just invade our northern naighbor, British Columbia has more oil than the Middle East and Alaska put together

Answer 6

Ethanol and Hydrogen fuel cells. which will cost money too. Ethanol costs more to produce, I think I heard it on TV. 2010 Gasoline price 5 bucks, Ethanol same as gas prices like today, 7/5/06 or less.

Answer 7

2010 $5 a gallon

Answer 8

Supplies will get smaller, oil corporations will get wealthier, as will the Bush family.

Answer 9

who ever has the oil rules the world.

Answer 10

I think that it's going down a slippery slope.