Get ready for triple-digit oil again soon

[CHIMO]

Nothing is shrinking faster these days than global trade. For the first time in decades, world trade volume, the lifeblood of the global economy, is actually falling. And chances are that downsizing is here to stay.

One reason global trade is shrinking is that most major economies have been contracting. Recession-scarred economies will of course recover. They always do. The Chinese economy is already on the mend and in time other economies will also get back on their feet. But unfortunately for an oil-hungry global economy, so too will crude prices — which is not only the real reason the economy tanked in the first place, but also the reason the economy coming out of this recession will be very different than the one that went into it.

Whether we move goods by air, ship, rail or truck, the global economy runs on oil.

And soon that oil is going to cost more than we can afford. Long distance transoceanic trade is about to go the way of the gas-guzzling SUV. Both are relics of an age of cheap oil that no longer exists.

http://www.theglobeandmail.com/blogs/jeff-rubins-smaller-world/get-ready-for-triple-digit-oil-again-soon/article1343977/

[marmar]

1. That will eliminate even the illusion of this fantasy economic recovery.

nt

[TheWatcher]

5. And yet they keep trying to condition the Sheep Public by linking High Oil Prices to an Economic

Recovery.

I cannot tell you how many times this year I have seen stories posted on yahoo Finance with headlines like "Oil Rises on US Recovery hopes" "Oil Rises on Positive Economic Data".

We are the most Propagandized, lied to people on Earth.

And for the most part, we drool and take it.

[AndyA]

2. Sounds like a good reason to start making things here again.

Which will create jobs, increase the tax base to pay off the deficit, and eliminate the need for all those tankers bringing the cheap crap from China over. Let them keep their shit.

[AtheistCrusader]

4. Why do I get the feeling transoceanic shipping will convert backwards to coal fired boilers

before that happens?

[paulsby]

3. you can always put yer money where

your mouth is.

quite easy to profit off such a prediction, IF you are right...

futures, the oil ETF's, options, etc.

[AdHocSolver]

6. It is your attitude of profiting off of others' misery that got us into this mess.

Let me guess.

You work for a bank as the guy who forecloses on people's houses.

Or, you manage a collection agency.

Or, You work for a health insurance company developing new excuses to deny medical coverage to your customers.

Or, you set interest rates for credit card holders.

Or, you are the executive in charge of outsourcing jobs to China and India.