What fuel do you imagine will generate enough electricity to replace the energy we currently consume in Petroleum?
Posted on 02/21/2008 9:59:47 PM PST by kellynla
All compliments of the Head Moron at the time, Jimmy Carter.
Carter and Klintoon, the "gifts" that keep on giving (the rest of us a headache)....
Notice how the oil market tanked as soon as T. Boone announced that he was short? Who in his right mind bets against him? He just moved the market and guaranteed his play.
Heh heh. It definitely took some air out of the speculative balloon. I’m sure that his positions are more complex than a simple short, though. He may be net short but also may have a different strategy in the near, intermediate and long term. My point was that he didn’t disclose his strategy, just that he was short.
Let the greens die off first.
In the places we are allowed to drill, working rig counts are way up.
1992 - 721
1997 - 943
1998 - 827
1999 - 625
2000 - 918
2001 - 1,156
2002 - 830
2003 - 1,032
2004 - 1,192
2005 - 1,381
2006 - 1,649
2007 - 1,649
2/1/08 - 1,763
2/8/08 - 1,755
2/15/08 - 1,773
Baker Hughes Investor Relations > Rig Counts
http://investor.shareholder.com/bhi/rig_counts/rc_index.cfm
But when the many of the most promising resource areas are kept off limits, the results of the drilling are less than desired.
T. Boone Pickens makes lots of predictions. In 2005 he claimed world oil production had peaked at 84 MMBPD.
http://www.peakoil.net/BoonPickens.html
When T. Boone speaks, I tend to tighten my grip on my wallet.
What fuel do you imagine will generate enough electricity to replace the energy we currently consume in Petroleum?
the only way to solve energy problems forever is to nationalize the dangerous, exploitive oil industry that, in its greed, has increased the price of oil to raise its profits to unheard of levels.
/sarcasm off/
The US already imports more uranium than we produce domestically.
Uranium Purchased by Owners and Operators of U.S. Civilian Nuclear Power Reactors, 1994-2006 Deliveries
The NIMBYs and environmentalists that hold back our drilling hold back our mining as well.
“In 2005 he claimed world oil production had peaked at 84 MMBPD.”
And what is our production now?
Sorry, I meant to include more info
Last October the world produced 85.5 MMBPD
http://www.eia.doe.gov/emeu/ipsr/t14.xls
NO OIL FOR DEMOCRATS!
So your on his case ‘cuz he’s off by less than 1%. My my, what high standards. It’s good to know some FReepers demand nothing less than perfection in forecasting and Presidential nominees.
You are absolutely right on! Also, don’t follow Boone’s
public statements about trades.
No, I disagree that oil has peaked and it has continued to rise. So far about 2%, approximately the same rate it has been rising for the last couple decades.
coal
An old man who can no longer play the game complains about being old.
Because our oil companies would rather b@tch about the environmental laws making oil exploration more expensive...
...than actually suck it up and drill.
Oil could rise to five hundred dollars a barrel and companies like Exxon would just sit on their @ss and whine - “Oh, the environmentalist won’t allow it. Wahh, Wahh!”. All the while, foreign companies like Russia’s Lukoil would be drilling like mad if given the opportunity - they’d accept the situation at hand and work with it.
Our oil industry is just like our automobile industry. Just listen to them. GM-Ford-Chrysler all whine that they cannot build cars that will meet the new fuel-economy standards... yet Toyota, Nissan, Honda, Volkswagen, etc, etc, etc, don’t whine - they are confident that they CAN build cars to meet the new standards. And our oil industry is the same - “we can’t drill for oil in America because the environmental laws will make it more expensive - with environmental studies and whatnot”. Whine, whine, whine. All the while we find foreign oil companies ready, willing, and wanting to operate in America... Lukoil, BP, Shell, Citgo - to name a few. Heck, even the Saudi’s were willing to pay for and build new refineries in the US. But American companies - heck no! They just “can’t” do it. Yet somehow - while reaping record profits - they just can’t actually spend some of it to increase production.
Face it, our oil industry is too dang stupid to operate in a free-market. The thought of increasing supply to meet increased demand... is just mind-boggling to ‘em.
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