Oil prices fell to $30 dollars a barrel, I went off and did other work, and price support has pushed oil up to $5 a barrel. But oil has no intrinsic value.
Burning oil does very little Molecular Nuclear Fusion
1 Cm(H2O)+pO2->(mCO2+(n-r)H2O-E_+r(He2++O2-+E2+X-ray) net E=45 kW/m at 1 atmosphere
A steam plasma is a much better way to do Molecular Nuclear Fusion
In a glass tube, we do H fission
3 H++e- ->n0
4 O2-+s n0->8H++10e-
5 H+TU+r n0->Er3+L+X-ray Net E=1.2 MW/m
So 400 times as energetic. We can start off the plasma using the electrics from a fluorescent light – then move off to the next plasma – it self sustains.
If we run a water boiler and steam turbine we generate 200kW. If we recover the heat by a captive Carnot system, we get 1 MW of electricity using 2% of the generated power.
Each home power user needs 8 kW. So we generate the power for 150 houses using regular water. And the electronics from a fluorescent light. It is not hard stuff.
So no Fossil Fuels burning – and no hyper toxic nuclear fission from uranium. Power is so very nearly free oil and gas burning will cease within 2 years.
So the price of oil will be its value as a lubricant. Bio-oils will do the job. So all Fossil Fuels extraction will cease.
96% of the GDP of Venezuela will vanish – and the country is already headed for economic meltdown with oil at $45 – it needs $145 a barrel.
And Saudi Arabia needs oil at $60. At $45 it lives off its savings – which have now gone. It can't afford free3 education and health.
So cheap infinite power. The world has just changed. The money to fund IS came from oil – which is why it is on the retreat – its pay masters have run out of money. The world will be a safer place.
And Islam must become the religion of peace – and not the enforced religion of the Middle East. Who will all revert to Christianity – the religion of love.
Nuclear has another problem. Since 2010 it needs insurance of 100 billion per uranium fission plant. No insurance above 1 billion is available – so it bought off its regulators.
This is criminal, giving multi life-time jail sentences for every nuclear plant manager, and the corrupt regulators.
It needs oil above $80, so it has been desperately supporting the oil price – which is phantom. Steam plasma tubes are free massive heat. Expect mass resignations!