David Bell, convenor at the Australian Association for the Study of Peak Oil and Gas, talks with Bloomberg's Bernard Lo from Sydney about the outlook for crude oil supply and demand, and the impact of rising prices on business.
At $200/bbl, the airlines are going to feel like they've been hit by an atom bomb. Some economists are starting to wake up and speculate that spring 2009 might be what they call a "silent spring"; meaning that air traffic could literally grind to a halt. This is a perfect example of a sector of the economy that will be decimated by the 2008 oil crash.
i love you bernard lo! you rule!
Dillardred 3 years ago
"...$300 - $400 will not affect you if you are not vulnerable to the effects of oil..." Who does that leave? Aborigines?
peebeebaynut 3 years ago
At $200/bbl, the airlines are going to feel like they've been hit by an atom bomb. Some economists are starting to wake up and speculate that spring 2009 might be what they call a "silent spring"; meaning that air traffic could literally grind to a halt. This is a perfect example of a sector of the economy that will be decimated by the 2008 oil crash.
OperationCrossroad 3 years ago