The man who foresaw skyrocketing oil prices

[CHIMO]

Back in April one man, Iranian oil and energy analyst and expert Ali Bakhtiari did just that. He stood up and made a prediction that could have seen him ridiculed.

"By the end of the year we will see oil at $50 a barrel," he told an audience at the annual gathering of the Association for the Study of Peak Oil (ASPO) in Berlin.

The idea behind "peak oil" is this. That, as the planet reaches the halfway point of consuming all its available oil, then a combination of bullish demand, slowing fields and insurmountable supply bottlenecks will create brutal price shocks. Almost certainly slicing the head clean off the world economy in the process.

This peak in oil supply will act as an economic guillotine. Yet the thread suspending the blade above our heads will be released without warning.

http://english.aljazeera.net/NR/exeres/351FD000-D263-46D8-BE9D-C17E9D5CEB84.htm

[aquart]

1. We could have prepared, this past four years.

We could have prepared but the shortsighted men in charge refused.

So now we're behind the curve, not leading, desperate to play catch up.

We could have prepared.

[90-percent]

2. Prepared?

Uh, we haven't even started to play catch up! The USA is in denial about energy and is doing nothing to develop alternate energy sources!

Well, private sector entrepeneurs may be busy inventing stuff, but this administration's relationship to big oil precludes doing things that act in the country's best long term interests.

-85%