Our problem is not addiction to oil, our problem has always been our addiction to cheap oil. The price of oil going up to $100 is the best thing that could happen for us. By over pricing their oil, the Arabs have finally priced themselves so high other US domestic and regional oil sources, and other sources of energy, have become economically viable.
OPEC is in the process of killing themselves. We should stay out of their way
Cartels are designed to limit the supply of a product thereby optimizing the price of the product that they sell. However, the OPEC Cartel has no control as to the price of oil since they are producing at 95% of capacity and demand keeps increasing.
Yes, OPEC is Dead but only dead in the sense that they can do noting to increase or decrease the price of oil. Thus, the only way to decrease the price is to decrease consumption.
...agreed. Despite popular media distractions, the Saudi OPEC bosses are really nervous about the situation and would rather see continued stability for the sake of their racket. The Iranian and Venezuelan oil bigwigs are nuts.
The Arabs and "BIG Oil Companies" don't set the price on their oil, it's a commodity that is bid on daily by anyone who wants it. The Arab's can somewhat control the price by limiting the amount they provide.
By the time we get around to tapping our resources, they will belong to the Arabs or China.
...more related information. Bloomberg and other news companies over here are running the same news.
Sinopec to import more oil products to ease domestic shortages
http://news.xinhuanet.com/english/2007-11/25/content_7142273.htm
China calls for early warning system to stabilize oil supplies
http://news.xinhuanet.com/english/2007-11/24/content_7139632.htm
Absolutely. My husband works in the Oil business and we’re looking into solar panels. There is only so much oil. It will run out sooner or later, so we need to make some preparations. .....and liberals need to understand; the Chinese, or Muslims, WILL drill ANWAR. Environment be damned.
Viable alternatives:
Coal to liquid fuel.
Mining the ocean bed for Methane Hydrate, a source of natural gas.
Reclamation of the petroleum content from oil shale, by using in-place techniques that cause minimal soil disturbance.
Use of Thermal Depolymerization to convert various organic wastes into kerogen, a substance much like crude oil, but without all the sand and gunk.
Use of plasma waste disposal, with the two-fold benefit of generating electricity directly from trash, and total destruction of practically all kinds of waste except radioactive elements. One other by-product would be aggregate suitable for road construction or concrete, which is drawn off as a slag from the conversion process. This process also generates huge quantities of gaseous hydrogen, the “fuel of the future” that is to power our homes and transportation. The other product, carbon monoxide, is an excellent fuel to power industry, with NO fly ash, no waste and essentially a “carbon-neutral” balance on exhaust emisions.
Oh, and by the way, carbon dioxide is NOT a pollutant in earth’s atmosphere. It is an essential compound in the balance of life. This superstitious fear of CO2 is on the order of a similar dread of all bacteria.
Yet without bacteria, you could not digest much of your food. Several pounds of your body weight is made up of these microscopic symbiotes.
"When in the course of human events..."
In two to three more years there will be plenty of home/building energy products that will be lowering the amount of heating and cooling - this is where 60% of our energy expense is not in cars. The City of Dallas has new commercial building codes that will require better building efficiency.
The end of the stone age did not happen because of a lack of stones.
Oil is a global commodity. The world's population increases annually by 57 million people a year [the equivalent of adding a new Italy every year] and will continue to do so until at least 2050. The growing affluence of countries like China and India will also increase demand. OPEC will have no problem selling its oil for many years to come.
The US imports about 60% of its oil. Yes, growing costs will make other sources of energy more viable, but that is a long term effort that will take generations. The US is the biggest user per capita of energy. Our population will grow another 167 million by 2060, thus increasing our demand for energy significantly. Increased energy costs will also have a negative impact on our economy impacting the costs of goods and services.
“”OPEC is in the process of killing themselves. We should stay out of their way.””
I’m not so sure that OPEC is making a mistake here. They know that it will take most of the western world 30 to 50 years to transition away from oil. Meanwhile they are gaining new customers in the third world (China and India). They also see a movement by countries to tax oil at a higher rate. So, they are doing the right thing for them...they are driving up the price of oil to a level that will make them global finacial leaders...the whole world will be coming to them for financing for ther next 30 or 40 years.