Drive down the price of oil so fracking is no longer viable and drive up the price of gold. Sounds like a lose-lose.
Drive down the price of oil so fracking is no longer viable and drive up the price of gold. Sounds like a lose-lose.
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Yeah on the face of it.
But the efforts by european, japanese and american companies to create and sell cars which don’t use oil...is not a passing fad. Its not going away. with time it will only get stronger. why? the europeans and Japanese can’t produce their own oil. therefor the only way they can become energy independent is to get away from oil as a transportation fuel.
Oil prices will be pressured from another front as well. Natural gas. over the next ten years all the number 4&3 heating oils used to heat buildings in the northeast will be replaced with natural gas. same goes for trains trucks and buses. That’s TBoone Picken’s idea. Its will happen over a period of ten years.
Between natural gas, electricity and what not —starting 5 years from now the demand for oil will start to slump. In time the slum in demand will accelerate.
This will collapse the price of oil.
It would be better to sell oil reserves in the next 5 year than in the following 10 years.
The coming technological revolutions will favor a stronger dollar than a weaker dollar.