WALL STREET VS. MAIN STREET.

EDITORIAL: NICOLAS KYNIGOS.

ENVIRONMENTAL ADVISOR: CIVIL RIGHTS PARTY OF CANADA.

In the year 2020 the daily demand for oil will be 120 million barrels,  even without counting future increments man would consume in just twenty years what humanity has already consumed for over the last fifty years. This only means toxic Co2 levels will inevitably be increased further endangering our planet’s climatic condition and our chances of survival as a species. Let’s go back to 1998 when oil-shock waves wreaked havoc in the global economy, leaving economic unrest in most parts of the world. This peek oil disruption brought panic and lack of public confidence in the system, it also brought unusual loss of jobs and economic uncertainty.This increasing dependency on gas / oil has brought us back the same grief and economic recession we faced through 2008-09-10. Even with the 700-billion dollar stimulus package in the U.S.A people were laid off by the thousands, inflation hit the roof, the world banking system just about went bankrupt and millions of U.S citizens left homeless caused by the mortgage crisis. Stock markets, banks and manufacturers risked going bankrupt, the final outcome, Wall Street Elite vs. Main Street Middle Class and the poor left helpless..

The main culprit for any form of depression is caused by rock bottom oil prices and over stressed demand on energy. In this decade North America's economic depression was caused mainly because of Asia’s and India’s increasing growth using cheap labour production and dependence on borrowing and manufacturing over seas. Demand for energy consumption within the last decade has almost doubled, let’s face it, there’s only so much oil to go around, once you start sharing pieces of the pie prices will vary significantly affecting the entire global market, oil price is driven by global economic inter-dependence..

Here is a quote from Los Angeles Times, Chris Kraul « A more rational market has evolved since the 1970’s but this also cannot prevent a market crash, with any new order there are winners and losers.  All minor players like Columbia, Norway, Mexico, Great Britain, and Angola are now big players compared over 2 decades ago. »  The Opec-Driven price run-ups of the 1970’s were an enormous windfall for the Soviet Union.  Higher prices boosted its revenue, they were also trying to live an catch up to the American dream although open oil markets today  prove otherwise. 

Kraul continues to say « Since the Arab oil embargo in 1973, the ranks of oil exporting countries have grown significantly, diluting the power of the organization of petroleum exporting countries. »  Today many of us are worried about the market crash of 2008.  The world market today is significantly different than the market in the 1970’s & 1980’s, during the formation of OPEC in 1961, major oil companies were pushed out of Venezuela and the Middle-East to places where oil-extraction costs were higher, like Canada. 

A major factor that strains global markets is international growth & wealth distribution further increasing demand for energy consumption. Auto-production for example increases car sales of a family having more than one car, we now estimate up to 2 - 3 cars per family in North America.  Cars are now a basic necessity for most North Americans compared to the average car owner over 25 years ago, most families have at least 2 cars even when gas prices rise up to $3.00 a gallon U.S. People still have to drive out of town to work and pick up their groceries, this creates a further demand on gas and oil products, we have to create a new “Greener Global Village” that is less dependant on automobile production, wasted  concrete highways taking up valuable crop land and living space, preserving our natural eco-systems & bio-diversity.

I could never understand the logic in auto-production having to produce new vehicles on a yearly basis that are made like sardine cans, unsafe in most accidents and barely having a ten year life span, they are recycling & selling the consumer junk on wheels. While the Chinese economy maintains steady & super industrial growth, Chinese citizens also want to have at least one car per person by the time they reach the age of 18.  Some oil experts say the supply for automobiles, oil and gas demand is worse than “Global Warming & Climate Change.” 

Either way we look at oil/gas dependency the entire world has already been affected, this continues to be a major economic & carbon pollution problem for everyone living on this planet including forest, wild life and aquatic species that inherit ecological toxic carbon damage caused by man. Oil Cartels cannot produce or equality distribute enough oil to keep everyone on this planet price happy, this is a major contributing factor towards world hunger, disease, war and increasing terrorism. Having to further increase and set pump prices according to global oil demand In the near future may be a blessing in disguise. Numerous companies will have to look for alternative energy solutions, more citizens will look towards cheaper transportation methods, less automobiles on the road, thus creating new “Green” markets, increased  manual labour and hopefully cleaner energy production.