Posted on 03/03/2005 9:35:57 AM PST by JeffersonRepublic.com
KUWAIT CITY (AFP) - Prices of crude oil could surge to as high as 80 dollars a barrel within the next two years but such a level would not last long, OPEC (news - web sites)'s acting secretary general was quoted as saying.
"I can affirm that the price of a barrel of crude oil rising to 80 dollars in the near future is a weak possibility," Adnan Shehab-Eldin told Kuwait's Al-Qabas newspaper.
"But I cannot rule out (the possibility) of oil prices rising to 80 dollars a barrel within the next two years," he said on Thursday.
"If the oil price rises to this level for one reason or another -- for example, interruption of supplies from a producing nation by one to two million barrels a day -- it is not expected to continue for long," he said.
Shehab-Eldin said a price rise to between 50-60 dollars a barrel for a period of two years or more will inevitably boost investments to increase supplies and lead to a drop in demand, eventually reducing prices.
World oil prices were mixed Thursday after reaching four-month highs in New York and London the previous day amid a rise in US crude stocks and jitters over increased global demand.
(Excerpt) Read more at news.yahoo.com ...
Its been a quarter of a century.
Are there any in the works now?
Yes, but they are in China.
I sold the patent to Exxon.
And the environmentalists will make sure no new ones are built here any time soon.
"Are there any in the works now?"
YES, Toshiba is offering to build (FOR FREE, NO CHARGE) a new Nuclear power plant in a small town in Alaska. They call it the 4S (for "Super Safe, Small, & Simple").
http://www.primidi.com/2005/02/06.html
Holtz
JeffersonRepublic.com
Energy is the lifeblood of civilization and so the anti-human watermelon Jihadi's seek to destroy civilization indirectly as they know directs attacks will not succeed.
It seems clear to me that the Arab/Muslim world,
(those with proven oil reserves) are waging economic
war against the West; in particular, against
the United States of America. And, to some extent
against the Europeans. What should we do about it?
How about stopping travel from the Saudi Arabia
to the U.S.? No more visas for students, etc. This
would just be a small beginning. We should keep ratcheting
up the pressure against all OPEC countries that are
participating in the war against us until the prices
come down. And start drilling ANWR and along the
our coasts too immediately. And, replace all
"fossil fuel" burning plants with nuclear power
plants as soon as possible.
The History Channel is doing a hatchet job on nuke power tonight!
Agreed!
As long as folks have to buy their food and other stuff at stores, trucks will continue to deliver. Of course if the Star Trek transporter becomes reality, that would change. Unitl then, the trucks will keep rolling.
Not to mention the infrastructure to build the equipment is gone as in dismantled, sold, scrapped.
Been here before? If so you know the drill.
Good bye.
Mouse milk is $1,000/g
That $50k per barrel.
While it may not have been mentioned, it's real. The cost of shipping lane security has gone up. This is one factor in the $55 per barrel price. I agree with you that demand is also a significant contributor. I also think the oil producing countries are exploring "what the market will bear" pricing.
Perhaps that was the wrong example....Dualies, vans, bus, etc. - all get crappy gas mileage.
F-150 X-cab 4x4, 18 mpg... 116,000 miles. Will take it to 250k miles before engine/tranny overhaul. How many rice rockets will you go thru in 10 years?
The problem is oil supplies us with gasoline and diesel. There is no present substitute. Nuclear must be brought to the front, I agree. But there aren't many oil burning power plants and so far, there aren't practical electric vehicles comparable to fuel burners. There are plenty of ideas...but no practical, flexible and affordable vehicles.
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