Posted on 05/29/2005 7:55:03 AM PDT by ex-Texan
Goldman Sachs was hoping to start a speculation war so they could sell off and make tons of money on it...
If it is at it's peak, then I wonder if it has stabilized?
As an expert FReeper, I can confidently predict that the re-posting of this very same article is reaching a peak, as more FReepers learn to use the search function.
I remember the same old story in the 70's. At the height of the scare, I had lunch with a geologist from Shell. He told me it was all BS, there was more oil we didn't know about than oil we did.
With oil at $50/barrel; now oil that was previously economically unavailable due to it's depth or location, becomes viable.
That said, we also now have incentives to work on fuel cells, and Thermal Depolymerization (TDP) plants, which can 'create' oil from practically any organtic waste we throw into the process. We currently have 2 plants up and running, producing over 10,000 barrels a day at a cost of $15/barrel.
Get ready. China and India have only had thier first, highly addictive, petroleum cocktail, and they are a lot closer to the liquor cabinet.
Me too. I remember a story in National Geographic on the end of oil. It predicted that we ran out of oil about 10 years ago.
Again? I mean, eventually they are going to be right, but it is meaningless because they keep saying it every 5 years.
The bright spot in this is that the majority of the research community in this area doesn't sound off the alarms - just the quacks.
As the price of oil goes up we will start looking for alternatives, Not so mch in alternative power , but in alternative means to get oil. Such as turning coal into oil synthetically, the oil shale rocks, bio-fuel, and other things. The internal combustion engine and heating homes isnt goig to change nuch except to get more expensive using these alternative means of getting something that burns like oil.
We should just go and take the oil from the Saudis and Kuwaitis/Iraquis as payment for American blood spilled to save their sorry asses. I remember back the mid seventies seeing a picture in (Soldier Of Fortune) of a Green Beret with his boot pinning the neck of a muslim to the ground and saying, "What Price Now OPEC?" Maybe we should make that picture come to life and unleash hell on them. NSNR
""Even in 30 to 40 years there's still going to be huge amounts of oil in the Middle East," said Daniel Sperling, director of the Institute of Transportation Studies at the University of California, Davis. ""
That don't mean the US is entitled to recieve any of that foreign oil so it is naive to include those reserves as "America's".
We were told 30 years ago oil was not infinite, and the naysayers sat on their hands and contributed nothing to
solving the problem. Now we are at the mercy of the speculators and the price they think they can get from oil.
We can't check the oil reserves because all the dipsticks are in Washington DC.
Goldman Sachs, the firm that laundered Corzine, Rubin, and various other Dems and Clintonistas, simply peddling their 'Peak Snake Oil'.
Please pardon many obvious puns!
BS.
BTW, we also have massive amounts of coal in the US. Put down the tinfoil.
The obvious way to stay ahead of the curve is to make more efficient use of the oil we buy.
The process looks like this:
And one of the test plants is in operation RIGHT NOW, and is running in Philadelphia. One of the problems is getting a continuous stream of good organtic waste into the process. Once we start the factory, it's efficient; if we have to start and stop the factory, the efficiency goes out the window.
Thanks for the new links!
That is why I am driving a diesel automobile that gets about 30 mpg in town and about 40 mpg on the highway.
I remember Bud was $1.75 a six pack.
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