Posted on 06/02/2004 6:24:37 AM PDT by Momaw Nadon
what a jam job. it's renewing itself.
http://worldnetdaily.com/news/article.asp?ARTICLE_ID=38645
They'll never figure in the fact that the increased profits will compell companies to look for oil in places they once wrote off as too expensive (offshore) or onshore wells that were less profitable. Essentially they can get 25-40% MORE cash from the same well now as they could a few years back.
I'm not so much concerned about the supply as I'm concerned about environmental restrictions on drilling for new supplies. The price at the pump is a reflection of an environmentalist problem, not a supply problem.
Acoording to many scientists including Thomas Gold, oil is being created every day and is being spilled into the oceans at a rate far greater than what man is using in a day.
Oil is filling up old wells and many wells not on line have been refilled to capacity.
Oil wells are being filled from the bottom up...which means that oil has no come up from INSIDE the planet.
The earth is creating oil right now...not depending on dinosaurs or plancton to do this.
Oil is a natural lubricant that is created by the earths processes of pressure and heat.
bump
Yes, but most of that oil is crap oil -- not even worth pumping out of the ground. Today's highly refined gasolines and lubricants demand a high quality raw material.
you have been studing too many facts. your brain will explode not from your knowledge, but from trying to ward off fools.
I keep calling Paul Erlich to see if he wants to bet me on the price of a barrel of oil in the next 5-10 years (ala the late Julian Simon).
He hasn't returned my calls.
They can get it real cheap, makes for big margins.
In fact, the $40+ stuff is really for market players, when the ship comes in the assayers negotiate discounts accordingly.
Most refiners never pay anything near that.
It's a big show.
"I'm not so much concerned about the supply as I'm concerned about environmental restrictions on drilling for new supplies"
While I don't underestimate the negative impacts to the American economy of the watermelon's attacks on drilling, the real bottleneck in with refining.
Thanks to the collusion between Communists, socialists, and the enviro-whackos, no new refineries have been built for a generation. Next time you run across a Democrat or an enviro, remind them that this oil problem is the result of their deliberate actions.
bump
I say..WRONG!!!!!
According to Thomas Gold....this oil is as every bit as good as any other oil that comes from the middle east.
I've seen the reports and they indicate that oil is not as finite as we are told.
The oil reserves are actually over 100 times the stated amounts.
We have enough oil in this country alone to last us over 300 and possibly 1000 years......if we can develope the technology to get at the oil underneath us which is about 2 1/2 miles beneath us.
I say.....Yeah and the Saudi's said they would bankroll a refinery here in the US...but the government said no....too many pollution regulations and no where to build it because EPA would never allow it to be built.
How come then that the oil wells in Texas and Oklahoma (those are the ones I am familiar with) have not, to use your words, 'filled up to capacity?' Or is this 'topping up from within' 'phenomenon' only pertinent to certain oil wells ....those in places like the Bering Sea and the Middle East (which are, conveniently, much harder to keep tabs on when it comes to actual - instead of the wildly estimated - levels).
Acoording to many scientists including Thomas Gold, oil is being created every day and is being spilled into the oceans at a rate far greater than what man is using in a day.
Many scientists! Hmmm, that is a relative word. Many means a multitude ....but what if many more disagree? Can you still say 'many scientists?' Anyways, that is base semantics. As for T. Gold. He is a bright person, for sure, but he is still a contrarian. His views are not taken for gospel truth by most in the industry.
Now, does that say anything? Honestly ...no. Just because someone is a contrarian does not mean the person is wrong. Infact, most of the great movers and shakers throughout history have shared one thing in common ....good or bad, they have been contrarians. Each and every one of them. Hence, I am not holding T. Gold's contrarian assertions against him (in fact, I do not dismiss his work. He may very well be onto something).
But making the guy appear like the know-all-end-all authority on the matter of world petroleum reserves, and making his notions appears to be true when they are at best extremely hard to prove theories, is stretching it too far.
But I guess the question of who is right ....T.Gold, or the petro-industry scientific establishment, shall soon be evident. If oil peak is going to occur, and more oil doesn't 'bubble up from the mantle and top up the oil wells,' then I guess the correct group will be evident for all to see. And with China gobbling up more and more oil the results should occur even faster.
Hence it is a waiting game.
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