Jeff Rubin: How High Oil Prices Could End Climate Change

when you change the price of oil as

when you change the price of oil as dramatically as has happened over the

dramatically as has happened over the

dramatically as has happened over the last decade you just don’t change the

last decade you just don’t change the

last decade you just don’t change the speed at which you can drive your car

speed at which you can drive your car

speed at which you can drive your car you change the speed at which your

you change the speed at which your

you change the speed at which your economy can grow and I think that has

economy can grow and I think that has

economy can grow and I think that has some pretty major implications that most

some pretty major implications that most

some pretty major implications that most of our policymakers and governments have

of our policymakers and governments have

of our policymakers and governments have yet to understand you see skyrocketing

yet to understand you see skyrocketing

yet to understand you see skyrocketing oil prices are just part of the problem

oil prices are just part of the problem

oil prices are just part of the problem hi I’m Rebecca Britain and welcome to

hi I’m Rebecca Britain and welcome to

hi I’m Rebecca Britain and welcome to watchmojo.com and today we’re speaking

watchmojo.com and today we’re speaking

watchmojo.com and today we’re speaking with Jeff Rubin about the end of growth

with Jeff Rubin about the end of growth

with Jeff Rubin about the end of growth we’re not going to be able to grow at

we’re not going to be able to grow at

we’re not going to be able to grow at the same pace that we have in the past

the same pace that we have in the past

the same pace that we have in the past and not just us I mean China as well and

and not just us I mean China as well and

and not just us I mean China as well and the problem is that when we try to get

the problem is that when we try to get

the problem is that when we try to get the economy to grow at the old growth

the economy to grow at the old growth

the economy to grow at the old growth rates either through zero interest rates

rates either through zero interest rates

rates either through zero interest rates or a trillion dollar budget deficit we

or a trillion dollar budget deficit we

or a trillion dollar budget deficit we just make the adjustment to triple-digit

just make the adjustment to triple-digit

just make the adjustment to triple-digit oil braces that much more difficult and

oil braces that much more difficult and

oil braces that much more difficult and you can see the consequences of that if

you can see the consequences of that if

you can see the consequences of that if you look at countries like Greece and

you look at countries like Greece and

you look at countries like Greece and Spain right now you mentioned that the

Spain right now you mentioned that the

Spain right now you mentioned that the world’s economic order is shifting would

world’s economic order is shifting would

world’s economic order is shifting would you mind expanding on that I mean it’s

you mind expanding on that I mean it’s

you mind expanding on that I mean it’s shifting to new economic powers and the

shifting to new economic powers and the

shifting to new economic powers and the new economic powers are China and India

new economic powers are China and India

new economic powers are China and India and what’s allowed those economies to

and what’s allowed those economies to

and what’s allowed those economies to grow so rapidly is China was an economy

grow so rapidly is China was an economy

grow so rapidly is China was an economy that consumed two million barrels of oil

that consumed two million barrels of oil

that consumed two million barrels of oil a day now it’s 10 million barrels a day

a day now it’s 10 million barrels a day

a day now it’s 10 million barrels a day of oil the only problem is that oil

of oil the only problem is that oil

of oil the only problem is that oil supplies really not growing that quickly

supplies really not growing that quickly

supplies really not growing that quickly so if somebody’s like increasing their

so if somebody’s like increasing their

so if somebody’s like increasing their oil supply by five times somebody else

oil supply by five times somebody else

oil supply by five times somebody else has got to cut back their oil

has got to cut back their oil

has got to cut back their oil consumption guess who that’s somebody

consumption guess who that’s somebody

consumption guess who that’s somebody else’s us and guess what our economies

else’s us and guess what our economies

else’s us and guess what our economies aren’t grow on the flipside are there

aren’t grow on the flipside are there

aren’t grow on the flipside are there any countries that we can look to you

any countries that we can look to you

any countries that we can look to you for positive examples of how to handle

for positive examples of how to handle

for positive examples of how to handle themselves Japan I mean Japan is a

themselves Japan I mean Japan is a

themselves Japan I mean Japan is a country that a year ago got thirty

country that a year ago got thirty

country that a year ago got thirty percent of its power from nuclear it’s

percent of its power from nuclear it’s

percent of its power from nuclear it’s all but shut down 54 nuclear reactors

all but shut down 54 nuclear reactors

all but shut down 54 nuclear reactors since then and guess what you know I

since then and guess what you know I

since then and guess what you know I mean Jay the Japanese have managed to do

mean Jay the Japanese have managed to do

mean Jay the Japanese have managed to do that and they’ve managed to do this was

that and they’ve managed to do this was

that and they’ve managed to do this was program called sit suit and energy

program called sit suit and energy

program called sit suit and energy conservation and it means everything

conservation and it means everything

conservation and it means everything from turning off the power and the

from turning off the power and the

from turning off the power and the escalator and turning them into

escalator and turning them into

escalator and turning them into airs the shutting off the lights to not

airs the shutting off the lights to not

airs the shutting off the lights to not wearing a suit but some light clothing

wearing a suit but some light clothing

wearing a suit but some light clothing so you can turn down the office air

so you can turn down the office air

so you can turn down the office air conditioner in other words the things

conditioner in other words the things

conditioner in other words the things that have made it successful and not the

that have made it successful and not the

that have made it successful and not the decisions taken by the ministry of

decisions taken by the ministry of

decisions taken by the ministry of finance in japan or the central bank of

finance in japan or the central bank of

finance in japan or the central bank of japan it’s a decision is made by

japan it’s a decision is made by

japan it’s a decision is made by everyday japanese and it was a big

everyday japanese and it was a big

everyday japanese and it was a big lesson to be learned for that for the

lesson to be learned for that for the

lesson to be learned for that for the rest of the world denmark is a very

rest of the world denmark is a very

rest of the world denmark is a very interesting example it’s a country that

interesting example it’s a country that

interesting example it’s a country that has lowered its carbon emissions below

has lowered its carbon emissions below

has lowered its carbon emissions below its 1990 level in complying one of the

its 1990 level in complying one of the

its 1990 level in complying one of the very few places that have complied with

very few places that have complied with

very few places that have complied with its kyoto commitment but what’s really

its kyoto commitment but what’s really

its kyoto commitment but what’s really intriguing about Denmark is that eighty

intriguing about Denmark is that eighty

intriguing about Denmark is that eighty percent of its power comes from coal and

percent of its power comes from coal and

percent of its power comes from coal and that’s the exact same percentage as

that’s the exact same percentage as

that’s the exact same percentage as China only China’s carbon emissions are

China only China’s carbon emissions are

China only China’s carbon emissions are soaring they’ve even overtaken the US

soaring they’ve even overtaken the US

soaring they’ve even overtaken the US and Denmark’s emissions plummeted why

and Denmark’s emissions plummeted why

and Denmark’s emissions plummeted why the answer is not the source of power

the answer is not the source of power

the answer is not the source of power it’s certainly not about the twenty

it’s certainly not about the twenty

it’s certainly not about the twenty percent of power that comes from

percent of power that comes from

percent of power that comes from windmills it’s about the price of power

windmills it’s about the price of power

windmills it’s about the price of power it costs thirty cents per kilowatt hour

it costs thirty cents per kilowatt hour

it costs thirty cents per kilowatt hour to get power in Copenhagen what is the

to get power in Copenhagen what is the

to get power in Copenhagen what is the cost here in Montreal 576 well guess

cost here in Montreal 576 well guess

cost here in Montreal 576 well guess what like if mantra always have to pay

what like if mantra always have to pay

what like if mantra always have to pay thirty cents per kilowatt hour you too

thirty cents per kilowatt hour you too

thirty cents per kilowatt hour you too could reduce your carbon emissions

could reduce your carbon emissions

could reduce your carbon emissions without building a single windmill the

without building a single windmill the

without building a single windmill the outlook is not entirely week there were

outlook is not entirely week there were

outlook is not entirely week there were some silver linings would you mind

some silver linings would you mind

some silver linings would you mind telling us about them yes one is we’re

telling us about them yes one is we’re

telling us about them yes one is we’re not going to be able to afford to cook

not going to be able to afford to cook

not going to be able to afford to cook ourselves to death I mean if you look at

ourselves to death I mean if you look at

ourselves to death I mean if you look at you know what the intergovernmental

you know what the intergovernmental

you know what the intergovernmental panel on climate change is forecasting

panel on climate change is forecasting

panel on climate change is forecasting in terms of carbon emissions in terms of

in terms of carbon emissions in terms of

in terms of carbon emissions in terms of coal and oil consumption in the next 20

coal and oil consumption in the next 20

coal and oil consumption in the next 20 years assuming that China and India are

years assuming that China and India are

years assuming that China and India are going to double their coal consumption

going to double their coal consumption

going to double their coal consumption I’d like to ask those climate change

I’d like to ask those climate change

I’d like to ask those climate change modelers exactly what price do you think

modelers exactly what price do you think

modelers exactly what price do you think China is going to be paying for its kool

China is going to be paying for its kool

China is going to be paying for its kool when it doubles its coal consumption

when it doubles its coal consumption

when it doubles its coal consumption because coals are ready well over a

because coals are ready well over a

because coals are ready well over a hundred dollars of time and I think what

hundred dollars of time and I think what

hundred dollars of time and I think what you’ll find is that if you put in

you’ll find is that if you put in

you’ll find is that if you put in realistic assumptions about coal prices

realistic assumptions about coal prices

realistic assumptions about coal prices and oil prices that we’re not going to

and oil prices that we’re not going to

and oil prices that we’re not going to emit half of the carbon that the IPCC

emit half of the carbon that the IPCC

emit half of the carbon that the IPCC says we are not because of you know

says we are not because of you know

says we are not because of you know ecologically conscious governments it’s

ecologically conscious governments it’s

ecologically conscious governments it’s just we’re not we’re going to

just we’re not we’re going to

just we’re not we’re going to not be able to afford the fuel so for

not be able to afford the fuel so for

not be able to afford the fuel so for people who are concerned about what

people who are concerned about what

people who are concerned about what we’re doing to the sustainability of the

we’re doing to the sustainability of the

we’re doing to the sustainability of the planet for people are concerned about

planet for people are concerned about

planet for people are concerned about you know temperature increases that

you know temperature increases that

you know temperature increases that could totally devastate our environment

could totally devastate our environment

could totally devastate our environment I think this is a very hopeful story

I think this is a very hopeful story

I think this is a very hopeful story because it takes the future out of our

because it takes the future out of our

because it takes the future out of our heads thank you very much thank you