This is very good article and in long run US will have severe impact...if the oil prices would above 80 USD means Gulf is packed with trillions of USD...for example: when oil price is 60 USD it self...Saudi gained almost 390 USD Billion and Kuwait gained 200 USD Billion and UAE around 170 Billion USD..means Saudi got 1B USD by overnight....this is third straight year oil prices are well above 60 USD and from last 2 years around 80USD ...now we can think how much money is existing with Gulf countries and how much more with Russia currently sitting on 480B USD reserves where as India is at 300B USD . and China 1.3 trillion almost 4 times to Indian reserves...indeed enough money to wreck US economy..more ever oil prices will be at same levels for next 3 yrs at least or until Automobile giants come up with huge fuel efficient systems....but this is enough window for many countries including China, India and altogether can build up almost 4 times to US economy and they can play with US any time.
RE:Very good Article and true facts
by Jay on Dec 18, 2007 08:04 PM Permalink
Could be just the last chance for the oil countries to make some money. What shows is you are not aware of latest automotive technologies. All electric vehicles are a reality which can run around around 208 kms with a single change costing $2. There goes value of petrol down the drain. At the same time solar energy/wind energy are real techs. Look at a company altairnano which makes batteries for these cars. Hope this helps.
RE:Very good Article and true facts
by Indian on Dec 19, 2007 03:56 AM Permalink
Automotive sector is able to touch 40 to 60 MPG with 2L motor under toyota and Honda includiing civic...but not sufficent to bring down the oild prices...tons of reasons for higher oil prices, when Automotive can touch up to 80M to 140 MPG then it can impact the oil prices to come down...it takes another 4 to 5 yrs to reach that lelevl...by the time Gulf, Russia others will be able to get 2 trillion.
