Posted on 07/04/2008 8:34:15 AM PDT by ChessExpert
Sure looks that way. It won’t happen overnight. We’re going off the cliff at speed and will be airborne for about 25 years.
I know. Spending every last dime on drilling might buy us an additional year or two. But then we will really be out of ideas.
Perhaps you can enlighten me on just exactly how we will drill here now......(A 35 year drilling consultant for BP wants to know.)
If you ever hear that Matt Savinar will be speaking in your town, run for the hills. He has some severe numbers and slogans. Won’t be pleasant.
We spoke with a Canadian oil worker who said it will be $9.00 by next year.
Trust me, I’ve heard all the gloom-and-doom “proof” about a thousand times. Hasn’t stopped me from being optimistic yet.
Do Nothing Nancy is working on a solution right now. Do you think vanity plates will be Mon or Tues?
If you like $5/gal, Thank Congress. If you want $10, Vote Obama.
Pray for W and Our Victorious Troops
It will take at least 2 years of building 1000 new rigs per year, to bring the rig count back to where it was in the ‘70’s. Then, to get that oil into production will take at least another 3 to 5 years. (Some as much as 10.)
He has refused his Assent to Laws, the most wholesome and necessary for the public good.
He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained;
He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their public Records, for the sole purpose of fatiguing them into compliance with his measures.
He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance.
the big oil companies have done pleny themselves to restrict the flow of oil. If they keep the market just at demand without having much excess, they can keep the prices high. Opec admitts to restricting production! And the major American companies have closed down about 150 refineries in order to limit supply. Take a look at ...thetruthbehindhighfuelprices.com. It is a big mistake to put all of the blame on the liberals, although their restrictions on drilling have hurt also. The oil companies have had a sort of monopoly on our energy needs and have taken full advantage of that. As we get more and more good competition from sugar alcohol like Brazil has done and electric cars with the new 120-240 mile range for pennies per mile...then we will see the price of gas drop to a reasonable amount. Who will want a gas car if there are better alternatives than buying $4.00 a gallon gas which doesn’t burn as clean as alcohol? Drill more, yes, if the oil companies will, and full steam ahead with the alternatives like should have been done long ago...it’s the free market for crying out loud.
I am optimistic, too. My only worry is the chaos the panic will bring when the current crop of residents figure out they can’t carry enough fuel to drive back to civilization.
“Predictions of imminent catastrophic depletion are almost as old as the oil industry. An 1855 advertisement for Kier’s Rock Oil, a patent medicine whose key ingredient was petroleum bubbling up from salt wells near Pittsburgh, urged customers to buy soon before “this wonderful product is depleted from Nature’s laboratory.” The ad appeared four years before Pennsylvania’s first oil well was drilled. In 1919 David White of the U.S. Geological Survey (USGS) predicted that world oil production would peak in nine years. And in 1943 the Standard Oil geologist Wallace Pratt calculated that the world would ultimately produce 600 billion barrels of oil. (In fact, more than 1 trillion barrels of oil had been pumped by 2006.)
During the 1970s, the Club of Rome report The Limits to Growth projected that, assuming consumption remained flat, all known oil reserves would be entirely consumed in just 31 years. With exponential growth in consumption, it added, all the known oil reserves would be consumed in 20 years.”
http://www.reason.com/news/show/36645.html
As for me, I’ve seen enough doom and gloom prophets come and go in my fifty years, from race wars to DDT to Y2K, that all pass, thank you.
I don’t think there will be any “panic” other than the proper kind, a panic to strat drilling now, which is already going on. You’re buying into this “peak oil” nonsense faaaarrr too easily.
That’s right. It’s never coming back. With any luck it (the Industrial Age) will simply fade slowly and quietly into folk mythology.
I am aware of all that and the cursed Club of Rome. I am fairly well disposed to most people, but the demons from hell who prepared that Limits to Growth publication need to stay out of range.
“Go ahead and put the sarc tags in. I have just been listening to Matt Savinar explain all this again and find the prospect of half the houses in this town not being heated this winter even with the Gov’s $1200 gift a fairly likely prospect.”
yes. I’m trying to come to terms with the fact that our 7 yr. old very expensive oil fueled furnace is now useless to us.
We have to figure out a way to heat a fairly large home (not a McMansion - but a remodeled farmhouse) that runs on baseboard heat.
We can keep the upstairs chilly, but don’t want to burst water pipes.
Need to keep downstairs warm though - young kids and 2 babies.
The lease where my husband works has wells that are 50 years old that are still in operation and are expected to keep producing for 20 years. This is one small lease.
In California alone there are reserves that are off limits to recovering oil but could be brought into production tomorrow with the stroke of a pen. We have plenty of oil.
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