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There Is No Gas Shortage

Discussion in 'Political Discussion' started by weswelker#83, Apr 21, 2008.

  1. weswelker#83

    weswelker#83 Rookie

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  2. reflexblue

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    #91 Jersey

    Excellent piece, but after EIGHT years of reading, watching,and listening to this stuff you get a little desensatized and disalusioned. Because the people that are took an oath to protect us from this kind of thing are the ones helping it continue. Theres no one to go to that can stop it. Its like complaining to a crooked cop about the crack dealer on the corner when the cop is on the take.
    What we need is a good French style Revolution.
    Last edited: Apr 22, 2008
  3. Zuma

    Zuma Rookie

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  4. reflexblue

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    #91 Jersey

    A slightly different take on the subject.

    http://www.economist.com/finance/displaystory.cfm?story_id=11066673&errm=bf&bredirected=1




    Crude estimates
    Apr 17th 2008
    From The Economist print edition

    The price of oil has soared to a new high, hasn't it?


    A CASUAL observer might be forgiven for thinking that the oil price reached a new record, of $115.07 a barrel, on April 16th. And so it did, in nominal terms. But by other measures, oil is not quite as expensive as it seems. That, in turn, may go some way towards explaining why demand for oil continues to rise in many countries, despite prices that would have been unimaginable just a few years ago.

    Michael Lewis of Deutsche Bank has come up with several different ways of comparing past and present oil prices. The first step is to account for inflation. But what measure of inflation is most suitable? If historic prices are inflated in line with America's producer-price index, the previous record, struck in the early 1980s, would be the equivalent of $94 in today's money—a level exceeded some months ago. But if the consumer-price index were used instead, oil would need to climb to $118 to hit a record.

    But an adjustment ...........
  5. PressCoverage

    PressCoverage Banned

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    I see a lot of economic models is this author's rationale. The geological models tell a vastly different story.

    Here are some reactions to Saudi King Abdullah's recent "quiet bombshell."

    Tom Petrie, vice president, Merrill Lynch:

    "King Abdullah's quote speaks to the fast-emerging reality of what I call 'practical peak oil.' The Saudis and other exporters are placing a new emphasis on elongating the petroleum exploitation and depletion cycle. This stems from a growing awareness of the challenges of conventional resource maturity, as well as rising resource nationalism. This is likely to result in an earlier occurrence of global peak oil output than many consumers yet recognize."


    Charles T. Maxwell, senior energy analyst, Weeden & Co:

    "If Saudi Arabia's oil reserves are not going to be made available to the world in future years, beyond the expansion they have already signaled (to 12.5 million barrels/day), then the geologic oil supply constraints that we are feeling in many other parts of the world are going to close in on us earlier and more severely than we previously thought. It's a major change in policy. It's a powerful message. It makes the geologic message that much more decisive."

    Chris Skrebowski, editor of Petroleum Review:

    "King Abdullah's statement represents the final seal of approval on an emerging Saudi policy of restricting output to save oil for future generations. In recent years the Saudis have been managing expectations of future capacity steadily downwards. No one now talks of their reaching 15mn b/d. If they reach 12.5mn b/d, while maintaining 1-2mn b/d of 'spare' capacity, we should plan for Saudi production to be 9-11mn b/d for the foreseeable future.


    Matt Simmons, chairman of Simmons & Co. International:

    "This statement by the Supreme Ruler of Saudi Arabia has far-reaching implications. That King Addullah would now instruct his servants to conserve the oil they pump and save some for the kids and grandkids of today's Saudi citizens is most profound. ... King Abdullah has exhibited a sense of wisdom not seen since his brother, King Faisal ruled the Kingdom until his tragic assassination. Assuming his health continues, he might lead Saudi Arabia successfully into a post-peak world and create sustainable middle class wealth for the 90% of Saudi Arabia who had accidentally been left behind. ...The world should bless this intelligent pronouncement. It is a reflection that Twilight set in on the oilfields of Arabia a few years ago."

    Also:

    Richard Nehring, president of Nerhingdatabase.com

    Jeffrey Rubin, chief economist, CIBC World markets

    Jeremy Gilbert, BP's retired chief petroleum engineer

    Herman Franssen, president of International Energy Associates


    (continued)
    Last edited: Apr 22, 2008
  6. reflexblue

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    #91 Jersey

    I'm with you PC it only makes sense that there is a finite supply of oil in the ground,and as China,and India become major economic players that finite supply will dwindle faster and faster. Some people here talk like theres an unlimited supply if we only drilled in the right spot.( I think they mean unlimited as in while they're alive) I don't care how many "right spots" there are the world population is growing to fast to not run out of oil. Although there maybe deposits that prolong the oil addiction a little longer then some expect these will run out too.
    Last edited: Apr 22, 2008
  7. DarrylS

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    Weren't there major oil finds off of Fla and in N. Dakota.. or is this being held back to insure more profits for the oil companies???
  8. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Humans went from wood to oil they will now go from oil to nuclear then they will go from nuclear to....????????????

    Once gas and oil hit a certain price they will never go down.

    The moron public doesn't seem to care, when interviewd at the pumps by the media about the Gas Prices all they do is giggle and make jokes about their vacation, so, f=ck them.

    When is the last time you have heard one of these scummy politicians who are running for president talk about the price of gas, Hillary was babbling something about her Grandmother living in Pennsylvania, Prince Boom Boom gives beautiful leg sratching speeches and say "nothing" and the old democrat mole Mccain falls asleep.

    Soon America will be "taken over" America as we knew it is on it's way out, I would love to be here to see them shoot all the Liberals and all the Politicians, the "New Rulers" will never tolerate all their Looney Sh!t-----:singing::singing:
  9. wistahpatsfan

    wistahpatsfan Rookie

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    I've seen posts referring to some crackpot "scientist" claiming that oil is being produced underground at a constant rate by geologic forces from deep in the earth's core. There are people out there who don't believe in the organic (and finite) source that has already been created and sits below the surface in a static condition. It is not being "created" as we draw it up.
  10. otis p. driftwood

    otis p. driftwood Rookie

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    Not trying to pick a fight (or even an argument) but who're the people that took an oath to protect us from high gas prices?

    And I'm not against the idea of a revolution, either. And I've got a few friends...
  11. reflexblue

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    #91 Jersey

    At one time or another I've heard the same thing myself. Usually where theres methane theres oil. And since methane can be found on other planets maybe oil isn't the by-product of plant and animal remains being the source of oil.
    Another theory I've heard awhile back is that there just wasn't enough plant and animal life to produce all the oil thats been found. So maybe its a chemical reaction.
  12. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    You have a few friends that are French? It was in jest. I posted about this time last year '''''''''What we need is a good French style revolution." I got a different reaction people started playing with it. They spun it humerously.
    Last edited: Apr 22, 2008
  13. otis p. driftwood

    otis p. driftwood Rookie

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    Too bad. We need a driver.

    :D
  14. otis p. driftwood

    otis p. driftwood Rookie

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    There's technology that can make a pretty decent light crude from garbage.

    http://itotd.com/articles/205/oil-from-garbage/

    BTW---I first saw this a couple of years ago on Discovery or History or Science...one of those channels. It was pretty neat...in go turkey guts and necks and out comes oil.
    Last edited: Apr 22, 2008

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