Bragg's thoughts on Global Growth & Energy
Say goodbye to global growth ?
I've been thinking about this for some time now . We are being told by energy experts that there are about 85 million barrels of oil available for sale on a daily basis . We are also told that we are burning about the same 85 million barrels a day . They are also telling us that peak oil is here .
The World Bank is telling us there will be a few percentage points of growth this year , My question is how does the global economy get any growth at all , when we are already burning all the oil that is being produced ? I know that coal can be used along with natural gas , but it can't be used for every thing . Bottom line is no oil no growth , or at least very little .
I heard that in China , either this year or in the coming year , more that 500 new coal burning plants will be coming on line . If the Chinese are have trouble finding a clean breath of air now , WAIT !
Going forward it looks as though global growth will either have to be curtailed , or global air quality is going to suffer .
Bottom line is this , growth from here out is going to be painful to your wallet , or hazardous to your health .
P.S. What do you think ?
