Home Mobile Authors Say Anything Register Login
« Previous Post » Next Post
Home

Monday, April 28, 2008

Why High Oil Prices Won’t Stay High

By Gene on April 28, 2008 at 03:18 pm
9 Comments

When Crude Oil Hit 60 bucks a couple years ago I made the comment that every geologist in the world would be looking in his back yard to find new oil.  And they have.  I said that we’d see Oil Rigs in State parks.  We will.

At a hundred plus bucks a barrel they are gold rush crazy.

Course what goes up has to come down.  I see every day new doom and gloom.  Look here, Gasoline at 10, 20 bucks a gallon.  Oil at 250 a barrel.  Hogwash!

Even if we never came up with direct alternative substitutes (which tens of thousands of independent scientists are hoping to create and get on the market quickly), even if we never converted one ton of Coal to oil, Even if we never processes another grain of Oil Sand we have discovered more Oil than we can possibly burn for the next hundred years.

It’s not easy Oil.  There is no Peak Oil.  That concept is brought to you by the same fearmongers that brought you global warming caused by humans.  There IS peak EASY OIL.

The reality is in the last 24 months there has been HUGE ENORMOUS stashes of oil discoveries worldwide.

But to learn about this you have to do a little work.

Google the term OIL FIND and Pick ANY of the Following Countries or States and you will see.

This isn’t off of them, just the ones it took me 3 minutes to uncover:

Oil Finds

  • Brazil
  • Cuba
  • Dakota
  • Alaska
  • North Sea
  • Kenya
  • Sudan
  • Nigeria
  • China
  • Gulf of Mexico (non US)
  • Uganda
  • Sunni Iraq
  • Kurdistan
  • Ghana
  • Thailand
  • Cambodia
  • Vietnam
  • Norway
  • Indonesia
  • Australia
  • Belize
  • India
  • Tanzania
  • Canada
  • Angola
  • Libya

Here’s the critical issue in all this.  NONE OF THESE ARE BEING EXPLOITED NOW.  None are yet on line.  They will be, SOON.

All have yet to be developed.  All have yet to be accessed.  We don’t have peak oil, we have peak easy oil. Some will be harder than others. But, I trust that we will figure out how to do even that.

I’m guessing looking at this list you didn’t even know some of those countries were oil producers or had discovered oil in their own territories.

Comments

The Whistler

Nice post Gene, but the problem is that at least in this country the greenies and their useful idiots (Dorgan, Conrad) are doing their best to block as much domestic development as they can.

What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.

The Whistler's signature
The Whistler on April 28, 2008 at 04:28 pm
docdave

the greenies and their useful idiots (Dorgan, Conrad) are doing their best to block as much domestic development as they can.

Not here in west Texas where there is a mini-oil boom going on today.

The Supreme Court is a bunch of black robed tyrants

docdave on April 28, 2008 at 05:20 pm
Kevin

Dorgan, Conrad) are doing their best to block as much domestic development as they can.

Didn’t you hear Byron crowing about how he found oil in western Nd. all by himself?

Kevin on April 28, 2008 at 07:52 pm
The Whistler

I should have clarified that they’re in favor of drilling for oil in North Dakota but drilling in ANWR is right out because there’s no people to adversely affect.

They also seem against off shore drilling and I think more refineries.  Again they’d probably support one in ND.

What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.

The Whistler's signature
The Whistler on April 28, 2008 at 07:58 pm
Kevin

They also seem against off shore drilling and I think more refineries.
Again they’d probably support one in ND.

Good, let them build a refinery next to their faux residences in Bismarck.

Kevin on April 28, 2008 at 08:03 pm
docdave

They also seem against off shore drilling and I think more refineries.

I wasn’t questioning your comments, toot, only pointing out one of the bright spots in the otherwise dismal view of future energy sources.  However bring oil into production is a whole different game that finding it and I’m sure as you have noted, the greenies will do everything possible to impede the process.

The Supreme Court is a bunch of black robed tyrants

docdave on April 28, 2008 at 08:45 pm
Sparkie Arbuckle

gene
there’s a big difference between pumping crude out of the ground (cheap) and sqeezing it out of porous rock (not so cheap). Perhaps you should go do some more research if you think oil prices won’t stay high.

rasberry

Sparkie Arbuckle on April 29, 2008 at 04:33 pm
Troy_Pineri

Gene -

High Oil Prices are here to stay and someday $3.50/gallon gas will be cheap.

I also don’t think you understand Peak Oil.  You claim there is no “Peak Oil” and then admit to “Peak EASY Oil"…

"All the perplexities, confusion and distress in America arise not from defects in their Constitution or Confederation, nor from want of honor or virtue, so much as downright ignorance of the nature of coin, credit and circulation.”
- John Adams

Troy_Pineri on April 29, 2008 at 04:37 pm
docdave

Regardless of the abundance of oil, there is no incentives to lower prices in an inelastic market. i.e. demand does not significantly fluctuate with price.  The energy market in this country needs some serious competition from sources under that hydrocarbons (no, ethanol will not low the price).  Examples: nuclear for the power grids; hydrogen, electrical or other for automobiles.

The Supreme Court is a bunch of black robed tyrants

docdave on April 29, 2008 at 05:47 pm
Page 1 of 1        

Post a Comment


Before commenting, please recite:

Grant me the serenity to ignore the trolls,
the courage to debate with honest opponents,
and the wisdom to know the difference.

Name   
Email   
URL   
Human?
  
 
 @ 
<a>
Close Tags

Upload Image    

Remember my personal information

Notify me of follow-up comments?

Note: Notifications will only be sent to confirmed email addresses. Confirm your email address here.