Oil Nears $100/Barrel--What Do You Make of It?

by owenfieldreams 31 Replies latest jw friends

• 

  Mincan

  http://en.wikipedia.org/wiki/Peak_oil

  Peak Oil as already happened people, last year. We haven't past the 85 million barrels per day.

  There was only 2 Trillion barrels on this planet, formed at two geological periods 90 and 150 million years ago.

  I've read about 10 books on this subject. Inform yourselves.

  We are on the plateau phase right now and the increase in production of non-conventional oil (eg. Alberta Tar Sands (Butemin)) is barely offsetting decline in conventional oil extraction rates (eg. Light sweet crude in Saudi Arabia for instance)

  Saudi Arabia's massive Ghawar field (the largest in the world) is declinging at 7% a year. Great Britain's North Sea Oil peaked in 1999, it's declining around 17% a year. Mexico's Canterall superfield peaked last year and is declining at 20% a year. The US peaked in 1970 (which correlates to so much geo-politics if you'd care to research)

  The lack of Corporate Media coverage of this topic is astounding, this will the defining event of this century.

  Other resources:

  http://video.google.ca/videoplay?docid=8677389869548020370&q=Julian+Darley

  http://video.google.ca/videoplay?docid=-2141508903056009420&q=Richard+Heinberg

  http://video.google.ca/videoplay?docid=4046564743329239954&q=Denial+Stops+Here&total=22&start=0&num=10&so=0&type=search&plindex=0 http://video.google.ca/videoplay?docid=-1656880303867390173&q=America+From+Freedom+To+Fascism&total=904&start=0&num=10&so=0&type=search&plindex=0 http://video.google.com/videoplay?docid=-5267640865741878159&q=History+of+oil&total=853&start=0&num=10&so=0&type=search&plindex=0 http://www.theoildrum.com/ http://www.peakaware.com/
• 

  avidbiblereader

  I think this man in front of Presedential hopeful Edwards put it best and to quote him from MSNNBC

  “If the American people understood what’s going on all over, there would be a revolution tomorrow morning,” exclaimed the man, who said he was a retired eastern Iowa farmer.

  It may feel better with our head in the sand, but put everything together and he is right!!!! This is just the tip of the iceberg.

  As I heard a long time ago, "There will be two types of people, the Filthy Rich and the Filthy"

  abr, One who does not choose to keep his eyes shut.
• 

  stillajwexelder

  we need a massive switch to alternatives - full mix, wind, wave, geothermal, nuclear, solar and the dirty C word CONSERVATION and also efficiency - but people are still driving HUMMERS - makes me angry
• 

  Justitia Themis

  Our current situation is neither unexpected nor unpredicted. Simon is partly correct, is also has to do with the dollar slide. But a bigger issue is what is causing the dollar slide. Last summer my daughter did a Nuclear Nonproliferation internship in D.C. before leaving for law school. If you would like to know what Washington insiders see as our future, read this book: American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21stCentury

  It is NOT an easy read, so do not buy it if you do not want to concentrate.
• 

  WTWizard

  I do think this country had its warning back in 1973. We had the Great Oil Embargo. For a while, there was talk about going nuclear (which set off a huge storm of anti-nuclear protest). We also had a chance to develop nuclear fusion, solar, wind, geothermal, and tidal energy sources. But, every time, some axxhole decided to shoot it down with specious environmental arguments, ensuring that we would be stuck with oil and its environmental consequences.

  I can remember a time when people would cxxxxxxx energy. People turned off the lights when not in use. They drove cars that got better gas mileage, and they had to drive 55 or get tickets. Setting that thermostat at 65 F. during the day and 55 F. at night was also encouraged in winter. Then came the oil glut, and people started blasting their heat, leaving energy-waster lights on full time, driving those SUVs that get 18 gallons to the mile, driving 70 and higher (and not even thinking of riding a bicycle). That C-word has become one of the dirtiest words in the English language.

  It's high time to develop those new energy sources. Back in 1973, we could have had plenty of time to do that. Now, we are in a true energy crisis that is only going to get worse. Purchasing wind power helps, but we also need to develop those other sources. What ever happened to nuclear fusion? Are we going to limit its use to building bombs that cannot possibly supply civilian power? I am mighty disappointed in how technology has been held back in this 21st century, and if the oil runs out, we are up Sxxx Creek without a paddle. If we go to war against Iran, I think $100 a barrel and $4 a gallon for gas will become bargain prices.

  GET RID OF THAT DAMN GAS GUZZLING SUV AND GET A BICYCLE!
• 

  sass_my_frass

  Think bicycle.
• 

  AK - Jeff

  WW III

  The bullies with the bikes want the oil for their chain. The kid with the oil wants to own them for it. A fight I say.

  Jeff
• 

  Mincan

  “If the American people understood what’s going on all over, there would be a revolution tomorrow morning,” exclaimed the man, who said he was a retired eastern Iowa farmer.

  Didn't the original Rockefeller utter those words? He was part of the New World Order...
• 

  avidbiblereader

  Didn't the original Rockefeller utter those words? He was part of the New World Order...

  I dont know if he did or not, but it was on the news the other day, and it is the truth.

  Sad thing about humankind, we usually only act when too late.

  abr
• 

  Jourles

  High oil prices? Easy - increased demand primarily from China and the threat of war with Iran - are probably the two top reasons for >$100 oil. If we were to untangle ourselves from the middle east, get completey OUT of there, let Iran develop nuclear energy for themselves, there wouldn't be any pressing reasons for oil to sustain its price at such high levels. Otherwise, just keeping the threat of war on the table causes an artificially high price on the cost of oil. Trading on "Oil Futures." This is one of the most ludicrous terms of our generation. It simply puts more money in the pockets of Big Oil and the oil producing countries themselves. If you're still one of those who feels that the oil companies need to maintain their high profit margins due to "exploration" and other "research and development" programs, you need to rethink that line of reasoning. Would the cost of oil stay high if there was true peace in the world and the demand flattened? As someone else mentioned, how much was the cost of gas pre-Bush and why has it tripled since? Honestly answer that question and then let's see where this discussion leads.

  And Simon was partially correct on the dollar declining too. What happened when Iraq dropped the dollar in favor of the Euro? We invaded and restored the oil trade there back to the dollar. What is happening right now seeing that Iran is now gradually phasing out the dollar in favor of the Euro and the Yen? The threat of war once again. It's going to happen either by "western friendly(dollar favored is more like it)" regime change or all out invasion and takeover.