Gas prices are rising, at this rate, the average price of gasoline in the USA will rise from $4 per gallon to $10 per gallon in less than seven years.
Oil prices are also rising, and if they continue going up at this rate, will be $1,000 per barrel within 10 years.
What is causing gasoline, diesel, propane, fuel oil, petroleum and oil prices to rise so quickly?
The answer is that demand is increasing all over the world, everywhere, but at the same time, world oil supply is NOT increasing. In fact, world oil supply was “stuck” at under 85 million barrels per day for over three years.
We may be at peak oil. The economic impacts we have seen may just be the beginning.
Using his renown “Peak Oil in Five Slides”, Aaron Wissner explains what is going on, and how rising prices are related to stagnant oil supply.
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This video comes from “The International Conference on Peak Oil and Climate Change: Paths to Sustainability”.
http://sustainabilityconference.org
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Duration : 0:2:48
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