Barrel has 100 dollars: A good thing?

[faber]

The previous record dated from November 21 but since then the machine seems to be racing and on January 2 the barrel of crude reaches the fateful threshold of 100 dollars. That's almost 60% increase in just one year. Imagine that in 2002 a barrel was only worth 25 dollars!
So what to think? While it is true that such an expensive gross undoubtedly strikes a little more on our budget and does nothing to improve our purchasing power, I am nevertheless one of those (who travel by car every play) than at all. bad thing is good and that an energy transition can only be accelerated.

[Christophe]

Yes it goes up but less than that: over the same period that you are quoting the $ has also lost nearly 50% ... It largely limits "breakage" (with us) ...

As for the consequences, you have understood everything except that EVERYTHING aligns and depends on oil ... so what we see is only the tip of the iceberg ...

For example: expensive energy is indicative of a considerable slowdown in the economy. But for the moment it's not expensive enough for the effect to be considerable ... it's just the beginning of the decrease (a term that I don't like too much ...) or rather "non-growth" sustainable ...
Otherwise we have already opened a "very" lively and necessarily partisan topic of discussion about the 100 dollars mark: https://www.econologie.com/forums/le-baril-d ... t4551.html

I advise you to read these pages as well (they try to put into perspective the current high cost of energy which is ultimately not at all):

a) The real price of oil corrected by inflation and currency parity
b) How many hours of minimum wage to buy a barrel of oil

ps: sales of large engines and 4x4s exploded in December 2007 in France (cause announced: bonus malus), it seems that purchasing power is not a problem for everyone ...

[Hydraxon]

As the barrel costs the ricans much more, there is indeed a good chance that they at least will give a boost to the research to get out of oil.

Do you realize that in 50 years we may be thanking Bush for giving the impetus for the transition? His war in Iraq still contributed a lot to this course.