Is Canada ready for a world awash in $0 oil?
 

Is Canada ready for a world awash in $0 oil? - The Globe and Mail

A draft federal-government study leaked to the CBC this week, prepared by the government trend-forecasting office Policy Horizons Canada, starkly makes the case that oil may be on the verge of becoming almost worthless.

The researchers analyzed worldwide pricing and technology and policy trends that are driving the price of non-fossil electricity sources downward at a far faster pace than expected ? along with surprisingly rapid technology-driven decreases in the price of grid-level energy storage and alternative-energy vehicles, manufacturing and heating. They found that we could be much closer than we think to an era when renewable and alternative-energy sources become significantly cheaper than fossil fuels.

As a result, it concludes, ?a new electricity-based industrial ecosystem could emerge at a much faster rate than expected, significantly disrupting fossil-fuel markets.? Within a generation, global petroleum demand could ?decline further and faster than expected with significant impacts on high-cost producers,? such as Canada.

Changes are coming. Some will suffer. Some will prosper. Life goes on.

looks like there gonna be a few changes, if were strong we will survive, if not well then were screwed.

this guy sounds like a bunch of bullshit

+1 :winkwink:

You're welcome!

What is really amazing is we thought oil production had peaked and was on a downward trend. Seems the opposite is happening - we (meaning everyone) can now pull more oil out of the ground using new methods, and now we can tap into a lot more oil.

Oil is used for more than fuel. Research what we use it for.

However, a drop in price will decrease the money going to terrorists.

Yes, it's used for a LOT more than fuel, and the biggest terrorist is our own government.

There goes the neighborhood,we're fucked now

I know with Canada's shift to electricity coming up and the fact there are cheaper places to produce oil, it'll be a game changer. I'm no economist though, but it's common sense that something will change.

the US """""""""""""defense""""""""""""" budget relies little on oil prices...if anything the cheap oil will make it easier for them to transport the food stamp mercenaries across the world to spread the "lesser of 2 evils" US presidents corporate agenda...

Wow

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Very cool.

If oil is worthless, how come it takes weeks for the price of gas to drop .20 cents and 2 days to raise .20 cents.

Hey smarty pants.. where do you think Russia's defense money comes from? All that tax money collected from vodka?

KGB :pimp ?

Chile is generating so much solar power that it's giving it away for free | Inhabitat - Green Design, Innovation, Architecture, Green Building

This will lower the demand for natural gas if this happens in North America further affecting general oil and gas exploration and production :2 cents:

Electric cars are no longer a novelty. What if the solar generated electricity to recharge an EMV was very low cost?

Oil will never be worth nothing. Oil is a basic commodity for use in chemicals, plastics and lubricants. However, with little (or lessened ) demand for oil's use as a fuel source -- the price will plummet.

Bush, Obama, Clinton, Rubio and more all have an answer.

Bomb the fuck out of them and they will go away.

Definition of madness, doing the same thing over and over again and expecting a different result.