guys in the US...you are so lucky as you have reserve currency of the world status...this is why UK & Europe works out $9+ a gallon and you guys only pay <$5.00..
but the worst is to come...America is no longer a AAA credit rated country and will soon loose world reserve status..China and Russia already back a group of international currencies/gold instead of petro dollars...
you see as world reserve currency all oil is bought in dollars, meaning any other country has to exchange to dollars then buy its oil...USA does not...so has the pleasure of if it needs cheaper/or more oil it can just print more dollars...No one else can do this as their currency will only buy a certain amount of dollars but this is set to change VERY SOON...this is why the US has been on a WAR streak to own as much of the worlds remaining oil..
Things will get very hard for the average American and their fuel oblivious ways.. the moment you loose reserve status (any day now really-well within a year or two) your fuel will cost as much as the rest of the world, but your economy is based around cheap oil... if oil rises by 30-40% then so does nearly everything in the economy because it takes oil to make it and send it to its destination..don't think there are anywhere near enough US reserves to last... I only speak in hindsight as Britain held world reserve status untill the late 70s when all currency was backed against sterling.. but when we lost the privileged status we received the nickname the old poor man of Europe. this resulted in a mass rise in all goods, as shortage of power. all grid power was off after 10pm and there was only a 4 day working week.
I don't actually remember this as I'm not quite that old but I have detailed accounts off many elder people I know and have studied the subject in detail.
This is all without including the fact that peak oil has passed and we have 20-30 yrs of oil left at today's levels but they are growing exponentially so lucky if there will be 10-15.
not to be a doom monger!
it will be very good for EV business! yay.. but just to ponder a moment on EV saving the world (as I hope it may)..
we never think about how much oil we actually use.. it actually takes 9 barrels of oil to make one car tire..maybe half to make one for a bike..but when it runs out how do we make more tyres..we will have to be bloody clever.. power is easy,theres a giant nuclear fusion reactor in the sky.. materials and manufacture are not! (although any plastic or man made petrochemical fibre such as nylon can be made from a certain Plant!! and so can the oil)
Model T Ford was made of Hemp and was supposed to run on Bio Ethanol (from hemp) in fact henry ford petitioned the government to grow forests and forests of it (it re grows in 8-12 weeks) so the US would have a fully renewable energy source.. obviously Rockerfella Standard Oil and Dupont petro chemicals put a stop to that and got it made illegal too..only took a couple of (untrue propaganda) films like reefer madness about stoned colored people aggressively harassing white women and that was that!!...hemp was no more! (and hence same goes for its sister)
so maybe EV needs a partner if it is to truly save the world! :wink: :wink:
