Here we go again! More stupid talk

[ZZman]

Another excuse for speculators to drive oil proces up!

We expect that the price of oil will reach 250 dollars per barrel very soon," Gazprom chief executive, Alexei Miller, told journalists Thursday on a visit to energy-rich Azerbaijan.

 

[Pablo]

I actually agree with you ZZ - there is NO screaming peak in demand all of a sudden.

 

[Bob The Builder]

It's only a matter of time before oil execs are a dying breed with this carp going on. It'll suck to be them.

 

[Al]

Unfortunately..even if there is no logic driving this. You could wake up some morning and oil is at 200 bucks. I see no way that the U.S. can not go broke very quickly at this price. We are already living on borrowed money.

at even 150 bucks that's 300 billion more dollars taken out of the economy per year. (Thats the difference in the price of oil at 90 bucks) Thats 10,000,000 jobs. And with a ripple effect that's Depression. Hope I'm wrong.

 

[oilyriser]

Industrial economies are totally dependent on fossil fuels, and will sink back an order of magnitude in standard of living if those fuels disappear. But this does not mean depression. There will be plenty of jobs, since more and more human labor is needed as there is less and less oil.

 

[catcam]

Trust me, BEFORE this happens, the dependent countries such as China, Korea, USA, Australia, Germany, France (okay, maybe not France), UK, etc, etc, would simply take control over these entities that are controlling the market. When it gets to a point to where leaders of a country have to decide if their country is going to become a third world nation because of the greed of others, drastic measures will be taken. I guess then the powers can come out and state that this is a war for oil! As long as oil is a fair market price there is no problem....but if a barrel of oil suddenly becomes $250 a barrel, you will see some "hostile takeovers" if you know what I mean. We cannot survive as a nation if you take a trillion dollars out of our economy a year and hand it over to OPEC, Exxon Mobil, Shell, Conoco Phillips, and all the others who post billions of dollars for their quarterly profits.
We could by a lot of cruise missiles for a trillion dollars!

 

[Merkava_4]

catcam

That's an interesting take on the the situation; I haven't heard anyone talk about that scenario before.

 

[catcam]

Merkava - like I've always been told, "Don't poke the bear!"

Or as Jim Croce put it:

And they say you don't tug on Superman's cape
You don't spit into the wind
You don't pull the mask off an 'ole Lone Ranger
And you don't mess around with Slim!

 

[Merkava_4]

I'm thinking the government better step in pretty soon; when oil hits $200 a barrel, there's going to be a depression. The fuel costs keep cutting into these company's pockets more and more; at some point the fuel costs will be higher than the profit margin; what then?

 

[catcam]

Merkava - I agree 100%. If we weren't doing the Iraq thing and the Afghanistan thing, I think we would be gearing up for a "hostile takeover" of some land.....
On the other hand we tell everyone to kiss our proverbial a$$ and start mining coal and start huge coal gasification plants.

I think we have a trick up our sleeve and it has to do with COAL.

We have vast reserves of coal. If you look back in history, coal can be converted into liquid fuels like gasoline or diesel by several different processes. The Fischer-Tropsch process of indirect synthesis of liquid hydrocarbons was used in Nazi Germany for many years when allied forces cut off their fuel/oil supplies. The fuel produced by this process burns a lot cleaner than the Diesels and Gasoline we use today. The Diesel fuel is actually clear (like kerosene) and has a very pleasant smell. The down side of this process (called coal gasification if you want to research it further) is that it does produce CO2...but this can be captured and then injected (injection well) 4,000 ft down underground...

Reports I've read state we can produce 6x the amount of gasoline and diesel fuels from our coal then from the oil contained in Saudi Arabia BEFORE any of their oil was extracted.

We have 246,643 million tons of coal reserves, this is 27% of the world's supply, Russia has 17.3% and China has 12.6%. Gentlemen, this is a LOT of coal here!
go to http://en.wikipedia.org/wiki/Coal
scroll down for some startling numbers!!

Hope this makes you feel a little better about the future..... \:\!

CatCam

 

[Duffman77]

Originally Posted By: ZZman
We expect that the price of oil will reach 250 dollars per barrel very soon," Gazprom chief executive, Alexei Miller,


Gazprom is the Russian state oil company. I am very sure they would love to see it but they dont have the power to make it happen.

 

[moribundman]

Originally Posted By: catcam
Hope this makes you feel a little better about the future.....


Boys, get your kids ready to work in the mines.

 

[Duffman77]

Originally Posted By: catcam
Trust me, BEFORE this happens, the dependent countries such as China, Korea, USA, Australia, Germany, France (okay, maybe not France), UK, etc, etc, would simply take control over these entities that are controlling the market.

What can a country do when they import 60+% of their oil. You have no control of the price of that 60% and the price of that 60% forces your 40% to match.

 

[severach]

Originally Posted By: oilyriser
There will be plenty of jobs, since more and more human labor is needed as there is less and less oil.

Orly? What are your laborers going to eat when they can't eat oil any more? Me thinks you've forgotten the first thing that is going to happen when the oil runs out. The government can't force something from nothing. Do you really think these city slickers can learn to live off the land in the time allotted?

 

[Shannow]

Originally Posted By: moribundman
Originally Posted By: catcam
Hope this makes you feel a little better about the future.....


Boys, get your kids ready to work in the mines.


There's a company down here touting the "advantages" (environmental) of setting fire to the coal seams underground, and using the resulting gas to produce liquid fuels.

Utterly insane.

 

[moribundman]

Shannow, tell those psychos to travel to Centralia, Pennsylvania.

 

[Shannow]

There's no evidence to suggest that the same thing might happen here...apparently.

 

[moribundman]

How could I forget that!

 

[oilyriser]

Originally Posted By: severach
Originally Posted By: oilyriser
There will be plenty of jobs, since more and more human labor is needed as there is less and less oil.

Orly? What are your laborers going to eat when they can't eat oil any more? Me thinks you've forgotten the first thing that is going to happen when the oil runs out. The government can't force something from nothing. Do you really think these city slickers can learn to live off the land in the time allotted?


The time to adjust will be at least a few decades. It's not like running out of gas in a car. The past few years' rise in oil prices is mostly caused by a guy named Bernanke trying to prevent the market from correcting and adjusting to this situation so his banking friends would not lose out on customers, not from suddenly running out of oil

 

[Shannow]

The US way of making food uses 5 times the fossil energy as that which makes it to the plate.

We got to the top of the food chain by having a positive energy balance in the early stages of agriculture...there was enough energy left over after dinner to write a song, or paint a picture.

Anastasia principal makes some sense, as far removed from western "agriculture" as it can be.