Oil could spark WWIII - Dr Doom

Finance24.com ^ | September 22, 2005 | Lynn Bolin

[Paladin2]

Chinese coal (wild)fires produce more CO2 per yeaar than all of the US light duty trucks and cars combined.

[martin_fierro]

Hong Kong-based analyst Dr Marc Faber - better known as "Dr Doom"

Get thee to Latveria, fool!

[Jeff Head]

The Chinese understand this...they know they have to secure oil reserves. They are looking on the mainland of Asia (Siberia and the 'ministan nations) but they are also looking to the South China Sea and the island chains. They are embarked on a massive naval buildup to help them secure it too.

Reminds me for all the world of what my parents used to talk about when they saw Japan in its massive naval buildup prior to World War II.

[LanPB01]

Its my understaning Reed Richards and the rest of the Fantastic Four won't allow this to happen.

[hflynn]

At some point, rising commodity prices, especially oil, will eventually lead to World War III because the US has the oil China needs, but doesn't want to give it to them."

Actually the Arabs have the oil China needs.

[Lessismore]

"At some point, rising commodity prices, especially oil, will eventually lead to World War III because the US has the oil China needs, but doesn't want to give it to them."

Most of the world's crude reserves are in the region extending from Arabia to Central Asia.

Thus, to deny China, the US would have to keep them and their allies from dominating Eurasia.

This is an unlikely proposition, given that China and Russia are now in rapprochement, and that the United States is widely hated in the Muslim world stretching from Morrocco to Indonesia.

[TheOracleAtLilac]

Dr. Doom is a Maroon !

1. there's great undiscovered/untapped resources in Siberia & various sea beds.
2. U.S. has enough oil but, since '72, has chosen to leave it in the ground & exhaust other's supply
3. This whole "China peril" scare is B.S. - they're just looking out for their own people & future interests (a war/conflict w/ U.S. would benefit neither side)

[Eagles Talon IV]

This guy is a moron!! He claims prices on oil will climb for 20 years but seems to have repealed the laws of supply and demand as well as the laws of unintended consequence such as new energy sources being developed as the old one (oil) become cost prohibitive. We are now at the point where the development of shale oil reserves in this country, said to be a 200 year supply of oil for our needs, is cost effective. The one remaining problem seems to be the vast quantities of water necessary in the extraction process.

This entire planet is becoming over run by hysterical uninformed gloom and doomers that prey on the uneducated among us.

[Smokin' Joe]

Reminds me for all the world of what my parents used to talk about when they saw Japan in its massive naval buildup prior to World War II.

Yes, and as I recall them saying, it was done with our scrap metal...

[doxteve]

2. U.S. has enough oil but, since '72, has chosen to leave it in the ground & exhaust other's supply"

This is interesting, Oracle. I'd be interested in a source if you can dig it up.

Thanks. Doxteve

[Jeff Head]

Now its being done with our dollars.

[Alouette]

World War III (the "Cold War" between the U.S. and the U.S.S.R.) ended a decade ago.

We are now in World War IV.

[Nathan Zachary]

"The one remaining problem seems to be the vast quantities of water necessary in the extraction process."

3/4 of the world is covered in water. Sea water could be desalinated easily to meet those needs. Besides, the technology has improved where the water used in extracting this heavy oil is recycled to a large extent. Alberta's oil sands are testament to that. They produce over 880,000 barrels a day and are barely touching 1% of the recoverable oil sands.

[Tarpon]

So tell me, why would anyone listen to Dr. Doom about anything?

[Nathan Zachary]

There are alot of known oil deposits along the eastern shores that aren't being developed because of enviromental laws/ restrictions in some states, as well as Alaska.

[TheOracleAtLilac]

I Did a report that was referenced by Dept. of Energy back then but don't have exact specifics now.

Basically, prior to energy crisis I, we were importing 20% of our oil.
Energy crisis I taught the oil Co.s that demand was somewhat inelastic (as it is now).
That's when our oil Co.s decided to exhaust other's supply & leave theirs "for a rainy day".

If increased consumption since '72 is not factored - we've roughly gone from 80/20 to 20/80.

The reasons & factors are a lot more complicated - I'm trying to simplify.

[Eagles Talon IV]

Thanks for the info. I sort of wonder why we don't get the infrastructure started to bring this resource on line. In my lifetime I would dearly love to see a headline along the lines of:

AMERICA TO MIDDLE EAST-"KEEP YOUR OIL"

[SauronOfMordor]

Actually the Arabs have the oil China needs.

Yes, and there will come a point where the Chinese decide that it will be cheaper to seize it rather than continue to pay for it. The US will not allow this. I think this is what Dr Doom was alluding to.

Personally, I think there are deep connections between China and al Queda, where al Queda has been given a two-part job:

1. Stretch the US military to the breaking point by keeping them tied down in Islamic hot spots, so that there are no spare resources to interfere with Chinese adventurism
2. Damage the US economy so that it becomes harder to budget enough money to keep the military equipped for a next-generation conventional war
3. Ultimately serve as a puppet government when an oil-rich Islamic state is taken over

[Smokin' Joe]

Not just our dollars, our technology (sold or stolen), and our best educational institutions are teaching the cream of their crop math, engineering, etc.