Posted on 01/27/2006 5:23:10 PM PST by LouAvul
The problem with that is that it takes a substantial amount of energy to get those resources out of the ground. It may become feasable one day, but the "energy out" to "energy in" ratio will be nothing compared to what conventional oil is.
Agree
I can't see the market surviving $260 a barrel oil. Economies would collapse long before then, dropping the demand and the price.
I know it's easy to toss around labels, but you should check out what Congressman Roscoe Bartlett has to say about Peak Oil.
He is one of the most conservative and one of the most intelligent members of the House.
WHich is what we should do. Considering that China is already trying to secure it.
Oh, it's sustainable, just not in a "peaceful" world. I think the Resource Wars may start if oil gets that high.
There are plenty of other technologies -- coal liquefaction, biodiesel, and the like, that become profitable well before that pricepoint
People were saying that about $40 oil. Then $50 oil. Then $60 oil. And $70 oil. So where are our alternative technologies?
What a crock. And these people are supposed to be smart investors. We would change to alternate sources of energy before it ever reached this high. Look what happened to demand in this country when Katrina hit.
Well before we ever reached this level, solar, wind, water, grain alcohol, shale and coal would become economically feasible.
This is nothing more than political fear mongering.
Personally, I wish foriegn oil supplies would dry up tomorrow. We would be fine and the ragheads could hump their camels for all I care.
Already starting. Just not a shooting war yet. Oil is why China backs Iran.
Who knows what will happen six months from now, but the if you drive the price of a certain energy source high enough, new energy sources will take their place.
This could even be a good thing.
Of course humans never react well when there are limited resources, even for a short time.
I've burned about a cord of wood since the new year. I'm getting 3 cords of oak, maple and ash tomorrow at $75/cord. That should see us throught the end of April.
The prospect of not buying any heating oil this year eases the pain of speculating on the future price shocks.
...would this be true if oil were $89? $111 or $262? At some point, it becomes financially feasible and the price of oil from the Middle East becomes someone else's problem.
Relax. The other posters are correct. At well below $200 a barrel, North America has enough oil to meet its needs for the next hundred years.
The stress is to much ... I am going to:
1. Jam miniature marshmallows up my nose and sneeze them out. See how many I can do at once.
2. Pop some popcorn without putting the lid on
3. When someone says "Have a nice day!" tell them I have other plans.
4. Make a list of things to do that I've already done.
5. Dance naked in front of my pets.
6. Fill out my tax form using Roman numerals.
7. Leaf through a National Geographic and draw underwear on the natives.
8. Drive to work in reverse.
9. Stare at people through the tines of a fork and pretend they are in jail.
10. Make up a language and ask people for directions.
Have the laws of physics been repealed? Nothing is infinite.
1985 was the last year that we found as much oil as we used. Eventually, the crunch will hit.
Just takes more drilling and deeper drilling.
I don't think that is the case. If you are correct, why did oil production peak in the US in the 1970s? Why did it peak in the North Sea in the late 90s? And so on.
If it's just a matter of using a better drill bit, or more power to drive the bit, then production would have not peaked in all the places that it already has.
The supply is being held back to boost prices
Supply isn't being "held back". They can't keep up with the demand from China. This is a geological problem not a political one (like the 70s was), although it WILL become a political one.
As is typical for it's blind thinking, GM is gearing up to offer a new generation of gas guzzling muscle cars
He forgot about asteroids plowing into the Earth, Super Novas, Aliens attacking....Have I left anything out?
sw
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