Warren Buffet on CNBC on Oil Depletion

Warren Buffet discusses oil depletion on CNBC

http://valuewalk.com/

http://valuewalk.com/resource-page-2/current-value-investors/warren-buffett/

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• oil
• oil prices
• peak oil
• oil depletion
• cnbc
• berkshire hathaway
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[iranwarcom]

Guys like him hurt the average joe with gas prices

[iansuderman]

Insanity is doing the same thing over and over again expecting a different result.

Tar sands are insane. We will not quickly extract them. These are not wells they are mining at high energy costs. In a few years the top layer will be extracted. There is no current concept of how to begin extraction of the next layers. No technology gets over the cost of using a barrel of oil to get a barrel of oil.

Cheap energy alone has provided our prosperity not faith, not capitalism, not work ethic

[MrIzzyDizzy]

@Flashwar the primary problems - that capitalism is facing - are worlwide abundant slave wage labor markets - technology that has taken us from agriculture - to industry - to services economys -inthe wealthy countries - noe service jobs are beeliminated - with no new sector emerging - as jibs drop - purchasing power drops - its been bailed out - but how many more times and for how long will it work - i hope we all at least look at other possibilities

[MrIzzyDizzy]

@MrIzzyDizzy i may have been at some point - at leeast if you were not in the half of the world working for 2$ or less per day - the market economy has always been built on the backs of most people remain dirt poor - this has doubled since 1970 - this paradigm has failed though - look at national debt clock .org - ask your self if we can pay these oceans of debt - watch - jobs drop afew and social security and food stamp recipents rise a few - this reflects some very tough trends to change

[Flashwar]

@MrIzzyDizzy I will, thanks for the discussion. It's nice to discuss on youtube without it ending up in a name-calling exchange, even (or especially) if both sides don't agree.

[MrIzzyDizzy]

@Flashwar well im not argiung for communism as such - the resource based economy is different - it is about roboric production/ computerised services - it has no money or trade or exchange at all - -1100 chapters and growing around the world in 2 years - its not a difficult concept but cant be flushed out in 500 character bits - if you want to know what the idea is read the best money cant buy -or watch zeitfiest addendum or moving forward -which explain it - better

[Flashwar]

@MrIzzyDizzy state or government run economies have always proven to be terrible in allocating resources. whether it be money or production means, I think a free market system is effective in allocating resources and therefor it is the best economic system we have been able to come up with. despite its many and obvious flaws I think it would be a mistake to discard this system in exchange for a system which has failed every time. we should work on improving the negative aspects of capitalism.

[Flashwar]

@MrIzzyDizzy I doubt very much whether it would work. I think people are capitalist by nature, but I agree with your eduction and child labor ideas. Not so much with the state run banks though, I don't think that would work. anyway the communist ideologies did get replaced with the personal ideologies of the leaders, but perhaps is was the failure of the communist system to deliver progress to society. I think it did fail in that respect and therefore the political systems got more repressive.

[MrIzzyDizzy]

@Flashwar with in the sustainable caring capacity of the earth - with massive improvements in stratgic production- recycyable - long lasting goods - much better use of technology - renewable clean energy -no exploitation - i dont blame anyone one for samalia - it is a sort of mutual irresponsiblity that abounds - further - the u.s. has indebted many nations and raped thier countries - all with fiat money - see john perkins -confession of an economic hit man - nothing happens in a vaccuum

[MrIzzyDizzy]

@Flashwar communism has never been tried it had some good ideas like state banks - publicly funded education - elimination of child labor etc - but the communst revolutions were hijacked by ruthless bloody dictators - especialy russia - the germans sent lennin in to take over and he did =he wasnt communist- that said a resource based econony has no money - its just to designed to use our capacity for abundance for everyones benifit with out tedious labor - rationed wealth -not poverty