GreenestEgg

$300/Barrel Oil Is Coming - Barron's Interview

It's pretty bold to predict a 300% increase coming on the heels of a 30% decrease. Time to recoup some of that loss, eh Eli?

Back in the late 1990's, it cost about $4/bbl to get oil out of Saudi Arabia. It's obviously more now, but this unlimited demand by SE Asia argument is insane. There is no way that countries with per capital incomes of less than $1000/year will consume the stuff at $300/bbl. 42 gallons = 1 bbl. I doubt if the average Chinese citizen would stake his yearly pay on the privilege of driving a car to work for six weeks.

Somehow, the humans on this planet survived for 10 million years (or 5000 years, depending on how literally you take the bible) without consuming a couple hundred barrels of per capita each per year. We're smart. I'm sure we'll figure something else out. My money is on the 1.21 Jigawatt flux capacitor from BTTF.