ok so about the oil?

[DFBatosee]

so as all of you should know if you dont, gas is about 348956734589 dollars and im pretty tired of paying for it.... we have enough gas reserves in Alaska to last us many years at low prices but our gov will not start digging, why is that? there is more to it than wanting to control iraq or whatever or "endangered snails"....anyone have a clue?

[daybrown]

so as all of you should know if you dont, gas is about 348956734589 dollars and im pretty tired of paying for it.... we have enough gas reserves in Alaska to last us many years at low prices but our gov will not start digging, why is that? there is more to it than wanting to control iraq or whatever or "endangered snails"....anyone have a clue?

The North slope does not have enuf gas; not anywhere near it. The largest estimate you can find from any oil company adds up to no more than 1% of US consumption.

If we assume that global oil prices will keep rising, why wouldnt we want to use up everyone else's oil before drawing down our own supply? Yankees have never been so stupid to work that way.

[DFBatosee]

im pretty sure that in alaska there is a rather large amount of oil and natural gas....if im not mistaken...i havnt looked it up or anything but i have heard for along time we have natural resources in alaska?

[Tomas]

-betty-
DFBatosee - im pretty sure that in alaska there is a rather large amount of oil and natural gas....

-tomas-
Black gold....Texas tea




-betty-
if im not mistaken...

-tomas-
Fools gold?




-betty-
i havnt looked it up or anything but i have heard for along time we have natural resources in alaska?

-tomas-
8 eskimos, 7 dinosaur bones, 6 polar bears, 5 illegal aliens, 4 wolves, 3 mosquitos, 2 seals, and a partridge in a pear tree


Tomas (the tank)
Prince of Jerusalem
16 Degree
Scottish Rite Free Mason

.

[brad walker]

i havnt looked it up or anything

Start here: Arctic Refuse drilling controversy

Then this: Peak oil production

[DFBatosee]

-fuckstick-
Black gold....Texas tea

-DFB-
yeah its real...and you found a nickname good job






-shitstain-
Fools gold?

-DFB-
your dumb...





-assbait-
8 eskimos, 7 dinosaur bones, 6 polar bears, 5 illegal aliens, 4 wolves, 3 mosquitos, 2 seals, and a partridge in a pear tree

-DFB-
thats just stupid....it makes no sense and makes me question the brain you have....
as the guy above me stated...go to those sites and look wikipedia says "The Arctic National Wildlife Refuge is just east of Prudhoe Bay in Alaska's "North Slope," which is North America's largest oil field." ok...so daybrown...not sure where your looking things up or...if you are....

[Tomas]

.

Non Peak Oil Update

http://www.lewrockwell.com/giles/giles18.html

George Giles on why we're not running out.

.

[brad walker]

The author incorrectly defines Peak Oil (production):

The concept of Peak Oil indicates we are running out of this precious resource and that the future may be grave if dramatic action is not forthcoming by the powers that be.

Peak oil is the point in time at which the maximum global petroleum production rate is reached, after which the rate of production enters its terminal decline.

Hubbert's theory predicts that oil production will peak once half the reserves have been exhausted. Few oil fields fit into this bell curve pattern. Consumption and technological advances change the shape and the maximum of the curve.

The author misses the point when he argues that humans haven't used half of the oil reserves. Oil reserves will continue growing as long as oil companies continue exploring. Unfortunately we're using oil at a much faster rate than they find and get it online.

The Oil Crisis is a Chicken Little (the sky is falling, i.e. wells are drying up) web site that advocates solar energy as a savior for civilization. This clearly demonstrates that they have no understanding of the concept of energy density. Energy density shows that fossil and nuclear (fission/fusion) are the only feasible techniques given current technology.

More evidence that the author doesn't understand the peak oil production controversy. Many analysts worry that alternative energy sources won't cover the energy deficit from declining oil supply. Solar's main problem has been efficiency and cost, but recently has improved.

(abiogenic oil source interior to the planet seeping into rock caps that we drill holes through and suck out). I find the biotic theory which is based on a single fact (chirality) to be specious.

Abiogenic oil may be real, but it doesn't make oil consumption sustainable. Oil doesn't replenish quickly enough to meet supply, as evidenced by crashing oil fields.

At years end of 2007 it looks like my assertion that oil supply is increasing and not decreasing is more credible than Dr. Hubert’s peak oil. My facts are unchecked and statistically insignificant which puts me on an equal footing with government agencies and cranks.

Had he researched he might have run into graphs showing oil production peaking at two years ago.

[brad walker]

These days financial analysts often blame high oil prices on speculation: "It's way overpriced! It should only be $40/barrel."

This article explains why this can't happen like in other markets:

Here’s the problem: oil futures are deliverable. Every owner of a future contract on the NYMEX can hold that contract to expiration and actually take delivery of 1000 barrels of oil at Cushing, Oklahoma. Admittedly, most contracts will be settled for cash and won’t result in actual delivery, but their value can’t depart from the actual value of delivered crude because, if it did, one party would simply take delivery and collect the difference. So there you have it: the price of oil, as a deliverable commodity, isn’t subject to a speculative bubble like stocks are.

It's not entirely correct, because running an operation like this has overhead. So there's room for speculation less than this operation's expenses and risks, where no operator could turn a profit. But it's definitely not a meaningful fraction of the cost of oil.

[daybrown]

Whether we have actually reached Hubbard's Peak may be debatable, but for sure, we've not reached peak demand as China and India both put new cars on the road in monumental numbers.

The other thing that's happening is that as the price rose, so did the greed, and thus the willingness to try to use force to control a supply. Nigerian oil is already unreliable because of the violence and resulting damage to the infrastructure. The Chinese are drilling in the South China sea in regions that may result in conflicts with Japan and others.

And while we may have only used half the global reserves, its the easy half. Yes, half the oil is there, but so much oil is needed to find, drill, and deliver it, that you dont end up with anywhere near half the supply to the global market. Another point is what the Arabs do with the oil money. The waste in a luxurious lifestyle and upscale architecture is bad enuf, but some is also used to fund schools for boys to grow up to be terrorists and fund current terrorism. Which could destabilize the global economy, and thereby bring demand for oil down to more sustainable levels.

you own a bicycle?