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Watched the movie a couple days ago. When they were saying "oil hits
$160 a barrel" and "$4.00" gasoline, you juts have to chuckle that they
made the movie in 2006 and it's now 2008 and those numbers are almost
reality now, not in 2016.
It was an OK movie and depicts a few angles on the issue. Didn't show much in terms of the real strife that can and will happen (food wars, mass starvation, etc.) The oil futures markets are causing a lot of this issue. Oil is not scarce. The US causes some gas shortages on its own by not building refineries or Nuclear power plants. Those two alone would help quite a bit. Oil companies with huge profits not building refineries means that they have very limited interest in helping keep the price down.
I noticed that this movie was made in 2006 when oil was between $50-60
per barrel. Now just one year later it's $80 and rising. The program
begins at the beginning of 2016 when oil is around $95-$100 per barrel
and rises to $160 per barrel. And yet just 8 years ago, oil was only
$10 per barrel.Also what was the older guy's problem? Even if fuel was
higher in price and somewhat scarce, he looked fairly well off. After
all he could afford to buy a new truck!Why was he begrudging the use of
transporting others and even hoarding fuel? Then he tries to pick a
fight with a guy who cuts in front of him at the petrol bowser, coming
off second best. I think that the oil price is underestimated, but I
think the so-called panic is over dramatized.....although it was
America after all...
Well, it's now eight months since I posted the above comment and oil has now hit $138US a barrel which is an amazing $58US in four months!!!
The expression 'somethings gotta give' has never been more relevant.
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