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Thread: How long will the oil price last?

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[quote=ERENCIUS,248103]Quote:
"It is absurd that in a socialist society that a subsidy to maintain the price of petrol at the pumps will benefit this rich group. While it also interferes with the free market mechanism it might be preferable to allow the pump price to rise but then subsidise the public transport and truck operators."
I do think it is absurd, but the problem is that now the Chinese governement is investing a lot of money in profitable companies and doesn t especially subsidies this kind of project (the oil industry in China is mostly a public industry).
In the speaches, Environement is always considered as a major issue, but in the facts Economy prevails.
Let's say 'scientfic development' exists but in thoughts only: that's a pity but unfortunately very few countries are already seriously looking for a way to solve this issue. Indeed many agencies declared that we just extracted between a third and half of the oil on Earth (according to USGS and ASPO).
I guess the Chinese government will keep the prices artificially low, since most of the oil goes to industries which pushes the Chinese Economy forward...
About the Gas Guzzlers as you call them, they are bound to consume more and more since the automobile sector wont be substituted so quickly... For now about 50% of the oil consumption is due to transportation but it will increase to 60% in 2030 (time when we ll extract even more oil).
Political will is important, but a worldwide awareness and conscience about the future of our planet would be better.[/quote]

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