From the UK Telegraph, a German firm is citing that a doubling of oil prices is possible: “The price of crude oil could soon reach $100 a barrel, compared with the present historic high of $60, if there was further supply disruption in Russia or a political upset in Saudi Arabia, a leading German institute said.
The IFW World Economics Institute in Kiel said that any number of ‘unwelcome developments’ could provoke a crisis. Given that the industry was already producing at full capacity to meet soaring demand in China and India, there was almost no margin to absorb a sudden supply shock.
Whenever I head the “doom and gloom” predicitons, I always wonder as to why no one has really developed an innovative way to manage a business using telecommuting. It would be the implementation of a processes, really.
MS Project on steroids? Maybe. But if the problem is oil, and most of our demand comes from vehicles, one would think the easiest solution would be to get out of the 19th century mindset and start using the technology we have. Or just build better cars.