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the coming oil glut

Discussions about the economic and financial ramifications of PEAK OIL
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Re: the coming oil glut

Unread postby gazzer180 » Thu 07 Sep 2006, 21:41:46

$this->bbcode_second_pass_quote('ampere', 'h')ttp://www.themoneyblogs.com/bloggin/my.blog/co
ming-oil-glut.html

even if its 15billion barrels thats still only six months world supply.
were still up the creek without a paddle
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Re: the coming oil glut

Unread postby rwwff » Thu 07 Sep 2006, 21:49:50

$this->bbcode_second_pass_quote('gazzer180', '')$this->bbcode_second_pass_quote('ampere', 'h')ttp://www.themoneyblogs.com/bloggin/my.blog/co
ming-oil-glut.html
even if its 15billion barrels thats still only six months world supply. we're still up the creek without a paddle


But it is nearly a full two years of US consumption, and seeing as how this is US oil, the rest of the world can just go jump on themselves. More importantly, it goes to demonstrate that the US may very well sustain 7mbpd of production for several more decades,

This is what I've been talking about with regard to why the US won't be first, or even midlin down the pipe. The US and Russia will be the last to fold because of their enormous internal reserves.

Not to say that our standard of living in the US won't get whacked a bit from time to time on the way down..
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Re: the coming oil glut

Unread postby seahorse » Thu 07 Sep 2006, 22:10:39

COR,

I believe if one can afford to buy and drive a tank, they should. Don't hesitate, do what your pocket book can afford, you only live once. I drive an SUV.

But I'm curious as to why oil prices have climbed since 2000, and shot up since 2004. Any explanations you have will be appreciated.
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Re: the coming oil glut

Unread postby MonteQuest » Fri 08 Sep 2006, 01:11:32

$this->bbcode_second_pass_quote('seahorse2', 'F')irst, the pessimist lawyer in me comments about this new Gulf oil find - this find occured in 2004 without any hype.


Really? Got a link or more info on how you know?
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Re: the coming oil glut

Unread postby MrBill » Fri 08 Sep 2006, 03:31:03

$this->bbcode_second_pass_quote('seahorse', 'C')OR,

I believe if one can afford to buy and drive a tank, they should. Don't hesitate, do what your pocket book can afford, you only live once. I drive an SUV.

But I'm curious as to why oil prices have climbed since 2000, and shot up since 2004. Any explanations you have will be appreciated.


It's the economy, stupid! ; - )

I guess from the outside looking in what makes me laugh is that some still insist on blaming everything on the neocons, the right, the republicans, the bushies, etc. Really, as if liberal left and the democrats have an agenda or even an idea how to solve the after effects of post peak oil or deal with geopolitical supply disruptions emanating out of the middle east? I mean it is not my fight, but it is amusing to see people deluding themselves.

I have also been absolutely amazed by the breadth and depth of all the solutions coming out of Europe, Asia, LATAM, Africa and the rest of the world that do not have evil republican governments. Truly amazing how they have managed to solve peak oil, and bring world crude prices down at the same time. I will post that link as soon as I have it.
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Re: the coming oil glut

Unread postby ClubOfRomeII » Fri 08 Sep 2006, 11:59:45

$this->bbcode_second_pass_quote('seahorse', 'C')OR,

I believe if one can afford to buy and drive a tank, they should. Don't hesitate, do what your pocket book can afford, you only live once. I drive an SUV.



I waited until gas hit $3/GAL and I bought the biggest gas hog pickup I've ever owned. When it hits $1.50 I suppose I'll go hybrid shopping. What I really want is one of those natural gas fired Honda Civics though.
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Re: the coming oil glut

Unread postby seahorse2 » Fri 08 Sep 2006, 15:48:46

As for buying a car, safety first. In America, its the most dangerous thing we do day to day. Mass does matter in a car wreck.
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Re: the coming oil glut

Unread postby seahorse » Fri 08 Sep 2006, 21:41:10

Nice to see that at least one reporter shares my pessimistic view that the re-release of this "new" oil find may be politically related (he relates it to upcoming votes on offshore drilling), I relate it to the upcoming elections; further, the reporter points out all the optimistic assumptions none of which have been born out.

$this->bbcode_second_pass_quote('', 'F')urther, it is likely that there are political motivations behind the announcement, as the vote to open offshore drilling in the United States is upcoming in the US Senate.

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Re: the coming oil glut

Unread postby ClubOfRomeII » Fri 08 Sep 2006, 23:20:17

$this->bbcode_second_pass_quote('seahorse', 'N')ice to see that at least one reporter shares my pessimistic view that the re-release of this "new" oil find may be politically related (he relates it to upcoming votes on offshore drilling), I relate it to the upcoming elections; further, the reporter points out all the optimistic assumptions none of which have been born out.

$this->bbcode_second_pass_quote('', 'F')urther, it is likely that there are political motivations behind the announcement, as the vote to open offshore drilling in the United States is upcoming in the US Senate.

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I don't consider it "politically motivated" for Chevron to want maximum effect from their find to try and convince politicians and the people they represent to open up offshore lease blocks in places where people don't understand what potentially lies right off their shores.

I say if its good enough for Louisiana and Texas, there isn't any reason to not drill up the entire east coast.
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Re: the coming oil glut

Unread postby joewp » Sat 09 Sep 2006, 01:25:24

$this->bbcode_second_pass_quote('ClubOfRomeII', '')$this->bbcode_second_pass_quote('seahorse', 'N')ice to see that at least one reporter shares my pessimistic view that the re-release of this "new" oil find may be politically related (he relates it to upcoming votes on offshore drilling), I relate it to the upcoming elections; further, the reporter points out all the optimistic assumptions none of which have been born out.

$this->bbcode_second_pass_quote('', 'F')urther, it is likely that there are political motivations behind the announcement, as the vote to open offshore drilling in the United States is upcoming in the US Senate.

Energybulletin


I don't consider it "politically motivated" for Chevron to want maximum effect from their find to try and convince politicians and the people they represent to open up offshore lease blocks in places where people don't understand what potentially lies right off their shores.

I say if its good enough for Louisiana and Texas, there isn't any reason to not drill up the entire east coast.


You're right, it's not politically motivated, it's economically motivated. Chevron wants more cash in their pocket so they want more oil reserves to replace the ones they're depleting.

And they want to screw up the environment of the entire East Coast in the process, because that doesn't cost them a cent. Capitalism is all about externalizing costs, don't you know.
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Re: the coming oil glut

Unread postby ClubOfRomeII » Sat 09 Sep 2006, 10:53:02

$this->bbcode_second_pass_quote('joewp', '
')
You're right, it's not politically motivated, it's economically motivated. Chevron wants more cash in their pocket so they want more oil reserves to replace the ones they're depleting.

And they want to screw up the environment of the entire East Coast in the process, because that doesn't cost them a cent. Capitalism is all about externalizing costs, don't you know.


Screwing up ANYTHING usually doesn't cost a major a cent. Its why they invest in political contributions in large amounts.

I'm just surprised someone else hasn't come along and conjured up alot cooler reasons why Chevron would withhold the information, how Cheney is somehow involved, several critical people have mysteriously died in car accidents, and somehow a critical new report from Campbell was in one of the cars which crashed, the one which just HAPPENED to be the only one which burned to the ground after the accident, etc etc.

I really should start a website and try modern day panhandling, this could be a real money maker and I seem to have a knack for it.
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Re: the coming oil glut

Unread postby ClassicSpiderman » Sat 09 Sep 2006, 11:45:56

$this->bbcode_second_pass_quote('EnergyHog', 'I') think Peak Economy will precede Peak Oil.

When we lose our world reserve currency status or have to inflate our debt away we won't be importing 23million bpd but perhaps we will be exporting some of our 7million bpd to get by.


Demand destruction is just another symptom and outcome of peak oil. The economic picture that you paint would virtually guarantee a complete and utter collapse of the US that would dwarf even most of the doomers' wildest fantasies.
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