Europe is wakening up to the challenge of Peak Oil and higher prices. Gas prices in UK are already above $8 per gallon! EU and leading technological companies are shaping the Electric Cars market now.
IEA: World Energy Outlook 2011: Crude could reach $150 and warns of Irreversible Climate Change in Five Years
"We are just coming out of the "Europe's End of The World" scenario, all world economies are on the edge of recession, but Oil is moving closer to $100 again. We have a very sobering reminder from IEA about the real issues behind all recent events in the financial markets. There is NOT enough Oil for everybody left, Peak Oil is all about the price and transportation is driving this demand with half of the global oil demand coming from China only. By 2015 more cars will be manufactured outside of OECD. Oil prices can go up to $150 by 2015 in the real terms and $176 in the nominal terms. It will be the major risk for the global economy. Time is to check your Lithium portfolio."
"We do not have a lot of headlines on the IEA dire predictions about the $150 dollar Oil and Irreversible Climate Change these days, but it does not mean that smart people are not taking notice. Oil is above $100 again these days and Jim Puplava came out with another brilliant interview on the recent IEA revelations and Peak Oil situation. We are very pleased and surprised to hear that U.S. Military is at the forefront of Energy transition and will try to find out more on this progress. Maybe U.S. Military will be able to crack down on the Oil lobby in U.S. finally?"
"We have another stimulus and this time from where the money is - from China. The package is more than two times bigger than during the global financial crisis and will be spent within next five years. We can expect that this time it will continue to be all about the securing supply of strategic resources and Energy Transition. Electric Cars are one of the strategic industries in China now, according to the 12th Five Year Plan."
Jim Puplava: Stephen Leeb: Red Alert - Peak Of Everything: Lithium, Rare Earths, Copper, Gold and Silver
All commodities are higher today, but we think that news are slow to filter through the Europe and US Debt gloom."