Collapse of Fossil Fuels
As of 2015-03-17, the Canadian tar sands need to sell for at least $100 a barrel or it does not pay to extract it. Arctic oil which Canada and Russia are researching will have an even higher break-even point. Already Australian coal is down to $72 a ton. It no longer pays to dig it up. The price of oil has dropped to $63 a barrel. Fossil fuels are already on the ropes. Why?
~ Roedy (1948-02-04 age:69)
- China has given up on fossil fuels, oil and coal. All their new energy plants are renewables. Such plants are already cheaper than fossil fuels. Further, they want to sell renewable technology to the entire world, just as they now sell small manufactured goods. China has seen the climate change flooding maps. If they don’t get on top of climate change, and push the rest of the world to as well, most of occupied China will be under water.
- Saudi Arabia is manipulating the supply of oil which jerks the price of oil up and down, like hammer blows to the chin of the western world.