El Predicto strikes

For a while now I've been wondering how long it will be before we see $100 a barrel oil. My bet is before the end of 2006 and certainly well within Bush's final term. Along with it we can expect gas pump prices of around $4 a gallon (or more like $4.50 to $5 if you're in California!) how about that? I think those prices will be pretty psychologically damaging for many people - they'll be looking at around $40-$50 to fill even a modest sized car with gas. For larger SUVs you'll be approaching $100 a fill up.

The question is, even without an inspired vision from the other white party (that's the Democrats) will people get the message that something is wrong with our level of oil consumption? Or will they swallow some stupid story about how drilling in Alaska will save us and is the right thing to do? Or will the Republicans suddenly pump up the volume on their story of hydrogen power conveniently forgetting that without local renewable energy sources to produce the hydrogen its all just a hand-waving fantasy, or even worse a nightmare?

My bet is that somehow electric-diesel hybrids cars with 100+ mpg range and optional plug-in capability will (fingers crossed) win the day until such time as pure electric cars become feasible for both every day and extended use. In the mean time the Canadians and Venezuelans will both get insanely wealthy mining their oil-sand deposits - the two largest and mostly untapped oil reserves left on the planet.

While it's unlikely we'll ever invade Canada stay tuned for further US intervention in Venezuela (remember that country whose president Pat Robinson wants to the US assasinate) in the name of "democracy". The aim will be to install a pro-USA government which will let us install lots of US corporation in their country to export shit-loads of oil north as opposed to letting it go elsewhere. In the mean time US oil contractors (i.e. Haliburton and the like) will get stinking rich extracting the oil, US oil companies will get stinking rich refining and selling it, and the Venezuelans will remain poor inspite of their vast oil resources.

Think about it: Venezuela and Canada have more oil than the Saudis, Iraqis and Russians put together - so with skyrocketing gas prices and dwindling gas reserves elsewhere shouldn't they all end up as rich as Saudi princes? Its anyone's guess what that kind of wealth will do in Venezuela - you could end up with as much inequity and corruption as in Saudi Arabia, however my bet is the Canadians will find a way to spend that kind of coin wisely (assuming that is they don't have to spend it all on a wall to keep out the Americans). Goodness knows since they also have large and underpopulated windy and sunny tracts of land to exploit they might even invest it in an oil independent future!