More BS from the “Peak-Oil” crowd.
...and scare the shiite out of the A-rab Saudis.
There is a new line of argument that I take for those who say we should not even start drilling for our reserves until other reserves in other countries are used up:
Let’s say it takes 5 years minimum for new drilling to produce usable stuff. That 5 years is used to set up all of the infrastructure. Would it be smarter to drill NOW and cap off the wells until we want to use them or would it be smarter to wait until the reserves are gone and then begin to drill?
What do you think would happen to the price of gas until the drilling is complete? What would happen to this country’s productivity? It is just insane that we continue to wait to at least begin to drill.
I am not much for tin foil hattery, but this is all starting to have a pattern.
And the U.S. supply is probably understated by a factor of three or four.
Because no foreign nationals ever feed self-serving disinformation to State Dept types.
NEVER, EVER!
For all of Obama’s jawboning about nuclear, we have exactly 1 plant under construction and it was approved in 2007.
And we have approved government backed financing for 1 reactor in Georgia, which I think is a research facility and not really a power plant.
This is total bullsh!t. in 2007, the price of oil went from 51 per barrel to 100 per barrel (January 2008). Gas averaged 2.80 per gallon.
This operation was one done by the Saudis to increase the price of oil. Just marketing.
With the new technologies the Saudi reserves are probably understated, perhaps by as much as 3x.
Confirmed by who? Wikipedia? C'mon folks, just because I'm eating food at the same rate I was a ten years ago, doesn't mean that there is any less food in my refrigerator.
This controversy is nothing new to FR long timers. We’ve been discussing this off and on for the past decade.
the House of Saud being untruthful with the infidels? The dickens you say! /sarc