Wednesday, February 29, 2012

Crude Crisis: My appearance on RT television's Crosstalk

This week I appeared on the cable news television show Crosstalk. The topic was the cause of high oil prices. I managed to provide a succinct explanation near the beginning. I didn't use the words "peak oil" because the panel discussion format of the show would have prevented me from providing sufficient explanation and context. The show which lasts a little over 25 minutes can be found here.

Here is the YouTube version:


investment in farmland said...

Great piece. Its funny, but RT is sort of outside the MSM but they end up providing a lot of great content you can't find elsewhere.

Steve Wilson said...

I would submit that China is a significant contributor to this problem. As I am sure you know, gasoline contributes to a major consumption of oil in most countries. In China, this consumption will have an even stronger effect on oil prices. Last year, China consumers purchased more cars than in the U.S. But, it is missed that most cars purchased in China are new drivers with new gasoline consumption. Chinese consumers are paying about $1.25 per liter at most and are not buying small cars as you might expect. Although, it is true that Chinese are not driving as many miles as we do in the U.S., it is increasing. Year by year, those miles will increase and Chinese driving will be a more important contributor to the price of oil worldwide as the Chinese middle class grows dramatically.

Steve Wilson, PLANETech International