What happens if...

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there is another world war or this comes sooner than we think:

http://www.lifeaftertheoilcrash.net/

how does it affect things like mortgages, loans and other debt.

What im trying to say is that do they get written off as the companies collapse?

I know we would have bigger things to think about but just interested really.
 
Soldato
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there is another world war or this comes sooner than we think:

http://www.lifeaftertheoilcrash.net/

how does it affect things like mortgages, loans and other debt.

What im trying to say is that do they get written off as the companies collapse?

I know we would have bigger things to think about but just interested really.


Mass starvation

Homeless families

High energy costs

Country falling apart.


The list just goes on and on
 
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it probably will eventually happen, but i think technology will be more advanced, and clever people will find a way round it.

But oil is used in so much more things than just fuel for cars etc, isnt is used for plastic and stuff aswell?
 
Man of Honour
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OMG WE'RE ALL GOING TO DIE!!!!!!!!11111oneoneonetwo.

Being vaguely on topic and answering the OP's question. NOrmally debts will be purchased by other companies and collected if they are backed by decent collateral (for example, mortgages backed by property). If all the companies go to the wall, then you may get away with it, or the companies may simply claim their property back...

But back to random doomsday scenarios...
 
Soldato
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OMG WE'RE ALL GOING TO DIE!!!!!!!!11111oneoneonetwo.

Being vaguely on topic and answering the OP's question. NOrmally debts will be purchased by other companies and collected if they are backed by decent collateral (for example, mortgages backed by property). If all the companies go to the wall, then you may get away with it, or the companies may simply claim their property back...

But back to random doomsday scenarios...

So what makes you think it wont happen then. Look at what happened with northern rock for example. A bank had a few issues and the whole country was talking about it for days, people lining up outside the bank etc.

And then the government says it will back any loses.

So what happens when it happens to loads of banks and businesses start to fail etc.

The government going bails us all out?
 
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it probably will eventually happen, but i think technology will be more advanced, and clever people will find a way round it.

But oil is used in so much more things than just fuel for cars etc, isnt is used for plastic and stuff aswell?

It wont eventually happen, its has happened or is in the middle of happening right now.
 
Man of Honour
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So what makes you think it wont happen then. Look at what happened with northern rock for example. A bank had a few issues and the whole country was talking about it for days, people lining up outside the bank etc.

And then the government says it will back any loses.

So what happens when it happens to loads of banks and businesses start to fail etc.

The government going bails us all out?

How about a credible source to suggest it will, rather than a scaremongering doomsday site?

You want to claim modern society is about to end, back up that claim.
 
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People say technology and green fuels will save us all. But to be honest nothing can replace the energy which comes from oil.

yes it can.

National grid is not a problem.

Cars can be run on several alternatives already. The most exciting one I've seen is nano metal particles. All you have to modify is the exhaust to capture them. They are then 99% recyclable. Apart from a very small lose in transport/ reduction process.

Life after oil will be fine. As oil gets expensive more of the alternatives will become available and we will slowly switch over.


As for a 3rd world war. If it's nuclear we are all likely to die. If it's not. Then expect America/Europe to create unmanned weapons in every factory possible.

But I can't see how WW3 can't go nuclear. The losing side, well has nothing to lose. It all depends how many are launched.
 
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OMG WE'RE ALL GOING TO DIE!!!!!!!!11111oneoneonetwo.

Being vaguely on topic and answering the OP's question. NOrmally debts will be purchased by other companies and collected if they are backed by decent collateral (for example, mortgages backed by property). If all the companies go to the wall, then you may get away with it, or the companies may simply claim their property back...

But back to random doomsday scenarios...

But if the **** has hit the fan how will they enforce repossesion?
 
Soldato
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There is still plenty of oil around and new technologies will extend the life of oil. Sure Peak will come soon enough but as no one can agree on exactly when there there is enough uncertainty to know that total known reserves of oil may be only 1.1 Trillion barrels (if the figures are right) but that the same again is awaiting discovery and extraction.
 
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There is still plenty of oil around and new technologies will extend the life of oil. Sure Peak will come soon enough but as no one can agree on exactly when there there is enough uncertainty to know that total known reserves of oil may be only 1.1 Trillion barrels (if the figures are right) but that the same again is awaiting discovery and extraction.

One problem with undiscovered oil is that it is hard to get at now which in turn makes it more expensive.
 
Soldato
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not at 100 to 150 dollars a barrel it doesn't which is what will soon happen when supply is unable to keep up with demand. World demand in growing I believe and the industries ability to keep up with enough supply is difficult, hence the price will rise. Maybe not in 2008 but surely by 2012 Oil will be more expensive than now.
 
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One particular issue I have with "peak-oil" is this prediction that production will peak and then never recover. Haven't people been saying that for the longest time?

What I see when looking at the figures, is that the quantity of proven reserves is increasing right along with production. The reserves to production ratio (R/P) therefore remains much the same year after year. Here's a nice graph illustrating global R/P ratios from 1982 to 2006 (full link here):



How figures like that are taken to demonstrate a soon to occur disastrous drop in production is beyond me. The rather more logical conclusion is that any limits applied to production by OPEC or others are nothing to do with running out of oil and everything to do with massaging oil prices.
 
Soldato
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How figures like that are taken to demonstrate a soon to occur disastrous drop in production is beyond me. The rather more logical conclusion is that any limits applied to production by OPEC or others are nothing to do with running out of oil and everything to do with massaging oil prices.

I've been saying this for a long time.
 
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