Oil, from Jan-Petter Janssen
"so 200 or 300 dollar oil is in the cards"
$300 / barrel * 84,000,000 barrels/day * 365 days/year
= $9,198,000,000,000 / year
(USD 9.2 trillion every year!!!)
In comparison:
$58 trillion = World GDP
$14 trillion = US GDP
I wonder what the sheiks will do with all that money? Even more empty Dubai skyscrapers? A second man made world (the 1st is sinking)? Fuel yet another commodity / stock / real estate bubble?
Such a price, and the following wasteful relocation of resources, is not sustainable if you ask me.
Even $125 gives me the shivers…