Derrick
ლ(ಠ_ಠ )ლ
- Joined
- Nov 22, 2010
- Messages
- 5,085
- Reaction score
- 5
Scenario planner and chairperson of the Anglo American chairperson’s fund, Clem Sunter, said today that the US starting a conflict with Iran was a “perfect storm” scenario that could usher in a $1 000/barrel oil price and lead the world from recession into something worse.
The scenario is a very real threat with Western warships (primarily those of Canada) already patrolling the seas around Iran to prevent that country from blockading oil transportation routes responsible for keeping 40% of the world’s oil supplies open.
If you think, Iran is not testy on this, note the fact that there were already some small skirmishes between Iranian military boats and Western warships after Iran said it would cut off the flow of oil should the USA get aggressive.
The recent two week deadline the USA imposed on Iran to stop its nuclear drive is putting a lot of stress on many leaders around the globe, both those in politics and in business.
What would be the impact on South Africa if Clem Sunter were right about the oil price? Well, for starters, in my opinion of course, there will be one hell of an upsurge globally in the uptake of alternative energy, which will become instantly viable. Oil’s ties with the automotive industry will inevitably mean that if oil goes ape, the scenario will push electric cars onto our streets. New battery technology and the like will come to the fore.
Those batteries will have to be recharged and the most probable source of charging would be the good old’ wall socket.
I do not think we can begin to imagine the stress thousands of cars charging in our nation’s garages and parking lots will put on our already overloaded power grid.
A $1000 oil price might just put South Africa back in the dark ages for a little while if we cannot construct enough nuclear and coal fired power stations. Coal is a massively polluting source of electricity and nuclear power is something that I personally do not trust in the third world where keeping sophisticated systems together is not always manageable. You only have to look at how Eskom managed our coal-fired power stations for a possible outcome to the much more dangerous nuclear option.
Wind, solar and other sources of electricity would be brilliant if we can get the pricing right.
In short, please President Bush, find a way to keep it friendly with Iran. Eskom cannot handle the stress!
Technorati : bush, clem, eskom, iran, oil, price, strain, stress, sunter, war
Del.icio.us : bush, clem, eskom, iran, oil, price, strain, stress, sunter, war
Zooomr : bush, clem, eskom, iran, oil, price, strain, stress, sunter, war
Flickr : bush, clem, eskom, iran, oil, price, strain, stress, sunter, war
The scenario is a very real threat with Western warships (primarily those of Canada) already patrolling the seas around Iran to prevent that country from blockading oil transportation routes responsible for keeping 40% of the world’s oil supplies open.
If you think, Iran is not testy on this, note the fact that there were already some small skirmishes between Iranian military boats and Western warships after Iran said it would cut off the flow of oil should the USA get aggressive.
The recent two week deadline the USA imposed on Iran to stop its nuclear drive is putting a lot of stress on many leaders around the globe, both those in politics and in business.
What would be the impact on South Africa if Clem Sunter were right about the oil price? Well, for starters, in my opinion of course, there will be one hell of an upsurge globally in the uptake of alternative energy, which will become instantly viable. Oil’s ties with the automotive industry will inevitably mean that if oil goes ape, the scenario will push electric cars onto our streets. New battery technology and the like will come to the fore.
Those batteries will have to be recharged and the most probable source of charging would be the good old’ wall socket.
I do not think we can begin to imagine the stress thousands of cars charging in our nation’s garages and parking lots will put on our already overloaded power grid.
A $1000 oil price might just put South Africa back in the dark ages for a little while if we cannot construct enough nuclear and coal fired power stations. Coal is a massively polluting source of electricity and nuclear power is something that I personally do not trust in the third world where keeping sophisticated systems together is not always manageable. You only have to look at how Eskom managed our coal-fired power stations for a possible outcome to the much more dangerous nuclear option.
Wind, solar and other sources of electricity would be brilliant if we can get the pricing right.
In short, please President Bush, find a way to keep it friendly with Iran. Eskom cannot handle the stress!
Technorati : bush, clem, eskom, iran, oil, price, strain, stress, sunter, war
Del.icio.us : bush, clem, eskom, iran, oil, price, strain, stress, sunter, war
Zooomr : bush, clem, eskom, iran, oil, price, strain, stress, sunter, war
Flickr : bush, clem, eskom, iran, oil, price, strain, stress, sunter, war