Things are kind of complicated here.

It is not very complicated if you look at the Brazilian energy and other resources.

They had huge fail with underwater oil (reserves was false), and here is consequence.

@MarcioK

We do not know if they are possible to get at all with current tech. And if they are extractable at all even :-)

All we can see are some PRs from people who are interested in positive thinking :-)

Cool thing will be if oil goes to 30s or even 20s.

Oil is doomed...

...at least for electricity generation...

Oil is used to produce around 99% of equipment and parts used for electricity generation and delivery :-)

but in the short term there will be Tesla home packs.

I'll tell you terrible thing - Tesla home packs will be affordable for tiny fraction of people on Earth. Their economics is very uncertain, and company who make them is actual bankrupt running on tax payers money.

Bootstrapping will come out eventually. ;) This last month has been f***ng windy.

No, it won't, oil is unique and used not only for electricity. And such position I call "religion of science advancement", as instead of logic it is mostly based on extrapolation and believes.

I did not say that batteries won't be cheaper, but let's not fall into "young economists" trap using ruler for predictions :-)

As for Tesla, it is favorite child of banks and media :-) Of not them - they'll be long gone and forgotten.

http://www.zerohedge.com/news/2015-08-09/tesla-loses-more-4000-every-car-sold

They had huge fail with underwater oil (reserves was false), and here is consequence.

About five years ago I watched a Brazillian tycoon on TV say he'd secured the rights to Brazil's vast offshore oil supply. He claimed the reserves were in 6 feet of water and that he'd eclipse the personal fortune of Bill Gates. Sounds like it didn't work out.

Question to all Elon Musk and similar popculture/science/innovation/entrepreneur cult of personality worshipers...

• Should all internal combustion vehicles change to battery power?
• Where will the raw materials for those batteries come from?
• What's the difference between geopolitics revolving around fossil fuels or minerals for batteries?
• What will be the compensation for people in Africa that will see their land plowed and pillaged for battery minerals?
• Where should all faulty/old vehicle batteries be disposed?
• Will vehicle batteries be designed for longevity...or will they be a regular planned obsolescence product that forces consumers to keep buying in order to keep driving?

I'm sure Elon Musk has all of these question answered in yet another awe inspiring Ted Talk.

That applies to all countries where the water supply is not run by the community under high quality standards, delivering drinkable tap water. Elsewhere they are selling you expensive water safe for human consumption in bottles that litter the land and the sea.

This applies to quite a few countries where Olympic games were held in recent years…

@Riker: Thanks for asking some intelligent questions!

Brazil’s July unemployment rate hit at 7.5%, 2.6 basis points higher than a year ago and 0.5 points higher than consensus. In seasonally adjusted terms, the unemployment rate jumped to 7.2%, from 6.5% in the previous month, the largest monthly increase in Brazilian employment data ever recorded by the Labor Ministry.

http://www.forbes.com/sites/kenrapoza/2015/08/20/brazils-unemployment-rate-worse-than-expected/

Devices which reach unparalleled efficiency or even harness the zero point energy field were created decades ago. We could have all the energy we could ever need and more with no environmental impact if our wonderful government agencies would stop harassing and killing the inventors and stop confiscating the devices. Some sad stories out there.

Steady improvements:

IP contracted by a much larger than expected -1.5% mom sa (-8.9% yoy) in July (vs. the -0.1% mom sa market consensus). Furthermore, the June print was revised down to -0.9% mom sa from the original -0.3% mom sa. During the last nine months industrial production declined at an average monthly rate of -0.9% mom sa. Of the 24 main industrial segments, 14 recorded a contraction of output in July.

IP declined 8.9% yoy in July, with the largest decline recorded in capital goods -27.8%. Overall, IP declined 6.6% yoy during January-July 2015.

IP has now contracted for eight consecutive quarters and is likely to decline again during 3Q2015.

In July, IP was 14.1% below the peak level registered in June 2013 and was at the same level as March-April 2006

Our crisis here is more political than economic. The right wing parties are pressuring the lefities, using their mistakes against themselves, but sacrificing the people for their own interest.

I can assure you that it has no relation to politics (despite all media and elites wanting to present it such for busy people).