Are oil prices going up or down in the next 10 - 15 years? Got big money on it?
I’d wait to place a bet, if I were you.
According to Gwynne Dyer, independent journalist based in London, England it is urgent to develop alternative fuels if we are close to peak oil, “but this may not be as great a crisis as it seems.”
[Link to summary of Mr. Dyer’s recent article @ Energy Bulletin]
[Link to full article @ straight.com]
[Will oil-fuelled cars be next to disappear?: photo link]
He goes on to say “the same fate [as befell horse-drawn vehicles] is likely to overtake oil-fuelled vehicles in the next 35 years.”
And, yes, I know, though it appears fairly logical that if numbers of oil fueled vehicles don’t almost completely disappear for 35 years then the safe bet is ‘oil prices will go up’ in the next 10 - 15.
However, keep your money in your pocket for now.
There’s more to it than that.
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