Oil prices could hit $250 a barrel
With the oil refineries running at their peak, imagine if something catastrophic would to occur at one of the locations on the oil pipeline network. Whether that be nature’s doing, or a mechanical failure, or even an attack to the system, it would send a shock-wave to the nations must dependant on oil. According to this article from Wired it could bump oil prices almost doubling it’s current rate. Unfortunately most of the things in our daily lives revolve around oil, from tooth brushes to tires are derived from oil. This is why every sovereign nation need to wake up and take control of their energy needs before a major event could collapse the economy. Investing in alternative energy such as geothermal, solar, wind, and tidal are just a few ways to cut back on oil consumption. Transiting over to electric cars would greatly reduce that need and also will benefit our planet as well. Check out the details, I know it’s just a scenario but it could happen.
Filed under: Alternative Energy