Posted on 10/31/2005 6:41:09 AM PST by EarthStomper
Whats more interesting is that the left proposes static solutions [Kyoto, et al] instead of re-investing dollars into new tech.
We'll keep the Captain if they'll take Sulu.
as the whale oil supply dwindled 'twas petroleum that saved the whales.
Funny, I thought it was Scotty and transparent aluminum that saved the whales.
That's because, to be a leftist, you have to live in a private universe where you are the only purposeful agent. Other people are not real to you; they can't be expected to rise up and solve problems on their own.
"In fact, oil cost about 50% more per barrel in 1979-80 than now when adjusted for inflation."
This is a completely bogus statement.
That fact is the more you make of something, the cheaper it should be for the unit price based on the nature of mass production yet, this is not occuring. The problem is that we are making more and charging more if not in the taxes but the burdens and, the profit demands made on the company by stockholders.
Oil prices are so volatile that it takes a lot to convince a company that it will be worth it to go after a difficult oil source.
Oil sands is NOT oil shale.
Win-Win option...use the tailings to bring NO above sea level.
Tried to buy any whale oil lately?
At any price?
As recently as the '70's it was an important anti-scuff additive for high-performance engines, but now - we HAVE in fact run out of it.
Economists, unfortunately, only think in terms of economic factors, but the world we live in is not so pure and simple.
While Suncor's process may or may not be economically feasible without government subsidies, it is absolutely silly to measure their technical success by their stock price!
Just plain silliness!
Anyone who paid attention in introductory economics knows this. Back in the late 70s and early 80s I used to laugh when liberals and the press would say things like "The day is coming when it will be announced that all the oil is gone. There will be riots at the gas stations and cars stranded all over our cities...."
Sure it is.
You're making one rather glaring omission:
At the same time production of petroleum has increased, consumption has increased enormously due to the rising purchasing power of India, China, and others.
There's another economic principle having to do with supply vs demand at work here.
bttt
We will never run out of "oil". There is enough recoverable oil in shale and oil sand to last for hundreds of years.
Oil sands are not oil shale, and this alone destroys the author's credibility.
Excellent point.
Most readily available crude oil is found in oil sands - it doesn't sit in neat little ponds underground.
Kinda makes you wonder about the accuracy of the rest of the article, doesn't it, when the author makes such a fundamental mistake?
True but all those location have their own oil in the region. The largest oil reserve known is off the coast of russia and china - the largest oil company in the world is Russian.
There is plenty of oil so supply is not limited - production is only limited by government so the price climbs due to government restrictions not, market forces.
Actually, Suncor's stocked dropped $10/share a few weeks ago.
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