[frankthetank]

$this->bbcode_second_pass_quote('', 'B')odman said on NBC’s “Meet the Press” that the shortfall was a sign of a stronger economy under President Bush, but he acknowledged that, at least for now, “the suppliers have lost control of the market.”
“Suppliers are unable to make the kind of demands [on producers] to make the flow equal to the demand,” he said. “Clearly, it’s going to be a number of years, maybe two to three years, before suppliers are going to be able to keep up with those demands.”

[firestarter]

Meet The Press

Other than Dick Durbin making a complete ass of himself, there were some interesting highlights from the show:

*Dan Yergin's outlook was as bleak as I've seen it, while still a step below his peak oiler foes.

*Sam Bodman actually spoke of $100 -$150 oil as a real possibilty at ANY TIME, even sooner than later.

*Jim Cramer advocated eliminating ethanol import tariffs as Dick Durbin teetered between dizzinessness and passing out from anger. He also did a masterful job defending Lee Raymond's golden compensation package.

*Red Cavaney spoke so much about alternative energies that I almost forgot he was an oilman.

[Barbara]

This is serious. They're trying to buy time... a lot of time!
Didn't say "two or three weeks" as they used to do in the past. Three years is a lot.

[Leanan]

$this->bbcode_second_pass_quote('', 'B')odman said on NBC’s “Meet the Press” that the shortfall was a sign of a stronger economy under President Bush

[Eli]

Matt Simmons made the point in a radio program that is on another thread, that he thinks that at some point the US government will be forced to take ownership of US Oil Companies.


I can see that happening when PO hits in full force and the profits the US companies make goes stratospheric, not just obscenely high like now.

When it becomes clear that energy is the economy not just a facet of it the government will be forced to take control of it.

[Bleep]

$this->bbcode_second_pass_quote('Leanan', '')$this->bbcode_second_pass_quote('', 'B')odman said on NBC’s “Meet the Press” that the shortfall was a sign of a stronger economy under President Bush

[Eli]

Good point Barbara.

Admitting that it will be three years until supply will be able to meet demand.

That ain't good.

[firestarter]

$this->bbcode_second_pass_quote('Leanan', '')$this->bbcode_second_pass_quote('', 'B')odman said on NBC’s “Meet the Press” that the shortfall was a sign of a stronger economy under President Bush

[Eli]

$this->bbcode_second_pass_quote('firestarter', '
')

Other than this one or two, expected, verbal genuflections to his boss, most of what he had to say was surprisingly doomerish. I came away from the program, and especially from Bodman's candor, with the hollowed out, sick feeling in my belly being enlarged a few more centimenters.

[TheTurtle]

$this->bbcode_second_pass_quote('firestarter', '*')Red Cavaney spoke so much about alternative energies that I almost forgot he was an oilman.

[firestarter]

$this->bbcode_second_pass_quote('Eli', '')$this->bbcode_second_pass_quote('firestarter', '
')

Other than this one or two, expected, verbal genuflections to his boss, most of what he had to say was surprisingly doomerish. I came away from the program, and especially from Bodman's candor, with the hollowed out, sick feeling in my belly being enlarged a few more centimenters.

[mekrob]

Doesn't it seem a little wierd that they say it will be three more years, yet just at that moment, Bush is out of office? I can't think of any real significance that could have, but it just seems so wierd. I mean, basically, if it turns out to be more than three years, then it's not his fault, but the new President's.

[Eli]

I was being mordant,
there is a 10 dollar word I learned today.

$this->bbcode_second_pass_quote('', '*')goes back to murmuring incessantly to self "everything is fine, just fine" *

[grabby]

Wow, for a while there I thought we have a problem!

Maybe I better get my SUV back, since gas will come back down later!

(Just kidding)

Meanwhile, while the ADMITTEDLY LOST CONTROL OF SUPPLY AND DEMAND, I ask
Who should get fired for that?

[grabby]

oh of course, silly me, all the poor people and middle class, thas right.

[LadyRuby]

$this->bbcode_second_pass_quote('Barbara', 'T')his is serious. They're trying to buy time... a lot of time!
Didn't say "two or three weeks" as they used to do in the past. Three years is a lot.

[Eli]

Saying that we are going to be exposed to three years of supply not meeting demand is a huge red flag. People in his position choose their words very carefully.

That does not mean that we are just going to have high gas prices but that the price will continue to go up over the next three years.

And how many times will terrorists try and hit SA oil production over the next three years and how many hurricanes and Cyclones will blow through the oil producing regions of the world, how far will production drop in Mexico, the North Sea and Venezuela? Not to mention Iran.

Damn we are screwed eight ways to Sunday.

[firestarter]

$this->bbcode_second_pass_quote('Eli', 'S')aying that we are going to be exposed to three years of supply not meeting demand is a huge red flag. People in his position choose their words very carefully.

That does not mean that we are just going to have high gas prices but that the price will continue to go up over the next three years.

And how many times will terrorists try and hit SA oil production over the next three years and how many hurricanes and Cyclones will blow through the oil producing regions of the world, how far will production drop in Mexico, the North Sea and Venezuela? Not to mention Iran.

Damn we are screwed eight ways to Sunday.

[gego]

For those of you who think that capture of energy from the sun via current plant growth into bio diesel or ethanol, consider this:

Oil when it took 1 barrel to discover and produce 10 barrels, yielded a 900% gain. Oil if it takes 1 barrel to discover and produce 3 barrels the gain is 200%. Even if bio diesel or ethanol produces more than it consumes (fat chance), and lets be generous, maybe we get back 110 barrels for every 100 barrels used in production, then our gain is only 10%.

Think about this, oil giving us 900, or declining to 300, when the plant growth oil production only gives us 10. Maybe if you think 900 delivery trucks on the road, vs. 300 delivery trucks on the road vs. 10 delivery trucks on the road. Maybe the local grocery will be out of business, don't you think and the majority will be up no food creek.

The next time someone posts a thread on this site that says biodiesel or ethanol is the savior om this huge excess human population, maybe he or she should be hung upsidedown from an abandoned oil derick.

Three more years is bull shit; more likely it will be eternity.

[SoothSayer]

The next time someone posts a thread on this site that says biodiesel ...

I know who you mean ... my heart sinks whenever I see that name appear on a thread...