Is the world closer to no oil than we thought

Saudi Arabia is now taxing their population because oil money is drying up.

Does this mean the price of fuel is going to skyrocket all across the planet?

rt.com/business/375746-saudi-arabia-vat-gulf-oil/

Other urls found in this thread:

theguardian.com/environment/2016/oct/20/europes-offshore-wind-industry-booming-as-costs-fall
twitter.com/SFWRedditImages

>Saudi Arabia is the only place on the planet with oil

This is what I had to pay today. It was only $1/litre two months ago.

155 $ by litre???

$1.55/litre

I have a small car, but it still costs over $55 to fill the car now.

Large cars would be over $100 to fill at that price

Let the Saudis adjust their prices, we will just fuck them over by lowering ours..

At least we're not as bad as New Zealand, yet

cheap chinese cars are flooding the global market. more cars = higher oil price.

i pay around .90-$1 per liter in canada fun bucks, and thats on the high side

desu prices have been falling here, not rising

Kiwis have a system where they don't have to pay rego/greenslip or some shit to make up for it.

Isn't that because Burger and Leaf Lands are producing heaps of oil now??

We've been at 'peak oil' since the 70's...it's simply the envirojunkies that encourage the overtaxation to ween you from your carbon based energy...

Which is completely fucking retarded...

Ourselves and a couple other countries will become even wealthier as we will be the biggest exporters in the world. People always wondered why we weren't trying to develop alternative energy methods at a faster pace. It's because we wanted to use up all the middle east's oil and send them back to the stone age. After that's done, America will be 4 or 5 times wealthier than ever before.

It's always about money and power.

They expect that Trump will run prices into the floor

The cost of being lost in the middle of nowhere I presume.

holyshit

That's because our domestic production is insanely high, we're either the #1 or #2 producer in the world right now of both oil and gas, fluctuating with Russia.

thats what a gallon cost here

>trillions of dollars wasted on wars in the Middle East
>millions of lives lost in the process

But hey maybe now we finally have something resembling a sensible energy policy taking shape.

The reason we didn't develop alternative energy soures beyond the difficulties of funding, economics, and science/research difficulties are because we'd literally be shooting ourselves in the foot by developing them since our currency is now directly pegged to oil production and prices, specifically with Middle Eastern Countries, that's literally the entire reason we've been involved in what's essentially a 40-year long boondoggle clusterfuck geopolitical operation in that god-forsaken hellzone.

The fact that we produce domestically now and other non-sandnigger places do doesn't mean that we still aren't that region's bitch, we can't just completely void 40+ years of OPEC contracts and policy.

>Oil money is drying up

That doesn't mean oil production is drying up, it means nobody is paying inflated prices for oil and the profit margin is slipping to a point where it can't be counted on as major cash product.

In short, the world isn't as reliant on the middle east for oil anymore because more countries have said 'fuck the hippies' and started producing their own. This is a direct result of Saudi Arabia and other Mid-east nations being super greedy fucks and charging close to $200 a barrel about a decade ago. They priced themselves out the market. They still have plenty of oil, nobody is buying it like they used to because the Muslims started to act like Jews and got busted because of it.

It's like £1.29/litre here

they have plenty of oil

there is more oil than the human race will ever use

even if they don't discover additional reserves, the Saudis can maintain their current rate of production until around 2080 and we will have transitioned away from it as the major fuel source before then

money is "drying up" because oil price is half of what it was during the previous decade or so when we were getting assraped by absurdly high prices because the market was undersupplied

we can synthesize oil now.
prices can't be sustained above $100 for long anymore.
there's plenty of the black stuff to go around.

The Resource Wars don't happen until 2077 or so

>living in Londonistan

Saudi reserves are fake, they decide them by treaty, not reality.

Not even then.

The world's oil supply is so vast it is effectively limitless. We had no idea at all this was the case until about a decade ago when fracking started to become a thing.

This allowed places to reach oil reserves that were basically considered unreachable due to the geological structure of the area, but once reached the amount found there was far, far greater than realized.

in germany it is 1,3 - 1,5 € thats like 1,84 aud

>he doesn't know that oil is literally generated deep within the earth and seeps up much MUCH faster than we could possibly ever use it
We have nothing to worry about. There is literally an INFINITE amount of oil underneath our feet. If you want to get rich just dig you lazy liberal gibs :^)

The renewable energy efficiency costs are breaking all expectations. Oil is becoming less relevant by each day.

theguardian.com/environment/2016/oct/20/europes-offshore-wind-industry-booming-as-costs-fall

>The reasons for the European offshore wind energy boom are manifold: For one, European governments and the EU as a whole have supported wind projects with favorable incentives as part of their CO2 reduction goals. In addition, the cost per megawatt hour has dropped by about 50% in the last few years alone for many projects, with a record low of $81 for Dong’s Borssele 1 and 2 projects – two soon-to-be-built wind farms off the Dutch coast. That’s compared to $155 for offshore wind installations just a few years ago.

Our dear leader thinks we need to phase out oil production now since he predicts we won't be using oil 100 years later.

We're just gonna be sitting on a huge patch of oil and not be making any money going homeless because of Reddit memes. The man is retarded along with the people that voted for him