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Oil Will Be Cheap And Plentiful For At Least 100 Years


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Everyone has a VI

Where is the logical flaw in the article?

I don't recall saying there was?

What else do you expect an oil-sponsored institute to say in an article in the WSJ? My point was that if this is your 'evidence' that oil is not running out (of course it is-it's not infinite), perhaps something from an academic geology publication might carry more weight. Although I'd love to hear what "Rocks Today"'s VI is...

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The real horror/fantasy is not resource depletion, but denial within large swathes of the worlds population. When they move onto the anger stage the party will really get going.

I feel no anger. I'm grateful for the heads up (if it's true). Everyday I do what I want. I defer nothing.

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Well it's obvioulsy in the interests of oil companies if everyone thinks oil is in short supply

because this will force the price higher

There are bound to be loads of VI's ramping the price of oil at the moment, because the price has collapsed due to the Global recession.

The 'end of the world is nigh' brigade are just being taken in yet again and helping ramp the price of oil

Are they going to be able to produce 85 million barrels per day of this? No.

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If anyone has solved the E=MC2 puzzle would they mind letting us in on it now, as otherwise we are about to return to a less energy intensive time. Although slaves will always be available.

Would anyone use game over as a slave? I suspect he is indolent and would require much flogging as it would take an inordinate amount of time for him to understand the most elementary instructions.

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Guest redwine
For as long as I can remember somebody has been telling me there was only 30 years worth of oil left. I have lived to see this prediction proved wrong by a very good margin. I do not anticipate that this will cause the doom mongers to shut up and stop being tedious. People love their horror fantasies.

oil companies have always used the 30 years left scam its a marketing tactic but they never give the date when the oil will run out ?

its the same with diamonds rare , difficult to find etc another scam when will the diamonds run out ?

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oil companies have always used the 30 years left scam its a marketing tactic but they never give the date when the oil will run out ?

its the same with diamonds rare , difficult to find etc another scam when will the diamonds run out ?

So where is this oil? Bet you can't tell us.

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You took a whole 30 seconds to solve the most pressing problem faced by human kind. Maybe you could spend another 30 seconds on a cure for cancer, hair replacement therapy, teleportation, warp drive, time travel, world hunger, and why on earth Simon Cowell exists?

Two words

Stem cells.

Probably make oil out of them too.

Back on topic i thought oil from tar sands would cost $200-400 a barrel

I also thought you can make diseasal out of coal.

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Yes a lot of people think that WW1 and WW2 were really about leveraging the power of cheap energy to grab control of other countries, I wonder if it will all unwind peacefully - we have already had Gulf war 1 + 2 which were both about energy not terrorism and that was before we even hit the peak.

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oil companies have always used the 30 years left scam its a marketing tactic but they never give the date when the oil will run out ?

its the same with diamonds rare , difficult to find etc another scam when will the diamonds run out ?

When did they start doing this then, my father has worked for most of the world's oil companies (that is one of the reasons I have an interest) and I do not recall this being made common knowledge. At best you can argue that they are subtly telling the world they have limited reserves. You just need to look at the renewable energy adverts that are put out.

Diamonds are rare due to the geological conditions required to make them, a bit like oil. Unlike oil they will pretty much outlast human beings and indeed will probably still exist up till the day the earth is destroyed. However, oil use is a one shot deal. Once it's gone it's gone, although if you are prepared to wait another 200 million years then more may appear.

It's funny how people are unable to connect the problem of depleting reserves with the continual rounds of invasion and war that is happening as we type. Oh, I forgot, it's all about WMD's, or is it democracy, no wait, we just want the people of the world to enjoy our standard of living.

The US government and in particular the Bush administration is full of people who have links to the oil industry. They know the reality of the situation, and they will fight to the death for the table scraps. The party is almost over, best enjoy it whilst it lasts.

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I also think, reading that article, the world has changed a lot in the last four years.

The recent spike in oil prices probably is as much to do with a weakening dollar as much as increasing oil price.

The price to watch in the future will probably be what oil costs in yuan, not in dollars.

who knows, without printing and irresponsible monetary policy, oil would probably still be $25-30 a barrel.

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Would anyone use game over as a slave? I suspect he is indolent and would require much flogging as it would take an inordinate amount of time for him to understand the most elementary instructions.

And the personal insults start

If you could win the debate you wouldn't be resorting to insults

Edited by Game_Over
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And the personal insults start

If you could win the debate you wouldn't be resorting to insults

Who says? You have consistently demonstrated an inablity to absorb the simplest of arguments. I took a charitable view that it was mainly due to your indolence and lack of application. If you are saying it's not laziness, then I must look for other explanations, like mental retardation.

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I also think, reading that article, the world has changed a lot in the last four years.

The recent spike in oil prices probably is as much to do with a weakening dollar as much as increasing oil price.

The price to watch in the future will probably be what oil costs in yuan, not in dollars.

who knows, without printing and irresponsible monetary policy, oil would probably still be $25-30 a barrel.

You need to look at production, as well as price. Supply has been on a plateau since 2005. It appears that it is not going to increase very much more, if at all.

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To be fair Game Over, it isn't a debate. There is no debate as far as energy availability and resource depletion goes. It is happening now, and is reflected in what you see, hear, and experience. What is still debatable is how the future will pan out, no-one can forsee the exact circumstances, but based on history, especially the most recent, it is fairly certain that war and civil unrest will feature heavily.

People cannot imagine such a situation because they lack the mental faculties to do so, much as people cannot imagine the size and shape of the universe. It is something that is simply beyond the human brain.

I do not believe I will ever die, I am immortal, but that is based on my current good health and limited imagination. As my best mate who is a doctor will confirm, even those on their death bed don't really believe they are going to die.

Even Richard Heinberg, who writes on such matters when interviewed says he finds it difficult to comprehend what is going to happen. It is after all a big unknown, and we don't like uncertainty. It is scary. but we are all in the same boat.

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Canada a shortage of water????? Don't think so.....

The problem with tar sands extraction is the natural Gas problem, chose to heat homes or chose to extract oil from Tar sands.

I am led to believe that under NAFTA Canada is obliged to sell Natural Gas to cold Americans.

Besides, what's total production from Tar sands? 2 million barrels a day. Simply a puddle in an ocean

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The Canadian tar sands require oil to be circa $70 a barrel to be worth mining, and BP and the like quote a cost of $40 to make a barrel of crude equivalent at the mine (then start to add the cost of transporting refining it). For example see Resignation of Catherine Hughes triggers fresh doubts about future of BP's oil-sands project. (Times Jan 26 2009)

or Shell halts Canadian sands development (Oct 31 2008)

Tar sands are only viable at high oil prices. Also, the maximum productions rates being mooted are only circa 5 million barrels per day in the medium term. This compares to global consumption of circa 85 mbpd. It's not the size of the tank that's relevant here, it's the max rate of output that's technically possible.

Tar sands are not a magic bullet that will solve the looming energy crisis (in any case the yanks will grab Canada's entire output to feed their 20 mbpd addiction).

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Yes and covering the entire country with wind turbines isn't destroying the environment I suppose.

:P

I'm not sure you understand what wind energy represents... indeed the whole renewable energy sector represents. We are at a juncture in human history where we either choose to try and live a life and build a society that is built to last or we succum to our own stupidness and greed and destroy our childrens future. I hardly think that digging up thousands upon thousands of hectares of pristeen countryside, in the most ugly of fasions i might add, in order to satisfy short term gains could be classified as sustainable. Gains that are reducing as the price of oil reduces (oil sands are only viable if the price of oil is very high) (you might not be aware of this but Shell who are 'committed to tar sands' have lost 30 million dollars in the first three months of business this year alone.

Forgive the pun but oil sand really is scraping the bottom of the barrel. It is a desperate act of a society in the final death throws of an addiction that will be the end of it.

Of course turbines disturb the land they are put upon. I'm not sure i agree with them on the large scale on land... they are better of shore where wind levels are more consistant. But that doesn't negate the need for them on land, closer to the point off use (you get rather large losses associated with the transportation of electricity produced this way). they may upset the local environment but at least the source of energy is continuous... unlike digging up oil in alberta... once its dug up and used it will never return. What is sustainable about that then?

BTW this is kara's husband!!

And i'm quite willing to educate you further if you so wish... i have plenty more where that came from!!

:blink:

Edited by kara gee
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You're wasting your time with Game Over.

As far as he is concerned, we have no energy shortage. Plenty of oil, coal and nuclear power, and renewables are an expensive waste of money.

If we have an energy shortage it has been manufactured by the AGW fanatics

No energy shortage in China, they are just building sh*t loads of coal fired power stations

While at the same time working on nuclear fusion.

If the West allows AGW fanatics to cripple it's economy, then China and India will become the dominant economic powers of the 21st Century.

The World is full of oil and coal and uranium and if we don't use it, someone else will profit from our stupidity.

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