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Thread: Oil rises above $90 amid US crude supply drop

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by washunut View Post
    It is called hedgeing your bets. Oil is not running out for a very long time, but the real question is will it be able to produce more and more as the world's economies grow. The sad part is we are sitting on about 100 years of nat gas, but don't seem interested in using it. In all probability you will see China buy up those assets and ship it via liquified nat gas.
    I didn't say we would be running out of oil. What I, and all of the experts, including the Pentagon, are saying is that it is likely we will run out of cheap oil in a few more years, perhaps as soon as 2015. It doesn't mean we will run out of oil, what it means is that consumption will outstrip production causing possible sharp price increases. We can already see the prices going up, and this is just leading up to peak oil.

    China and Saudi Arabia think long-term, unlike the US. They understand what peak oil will mean to countries caught unprepared to grow in a non-oil based economy once we pass world peak oil in a couple more years.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by drz-400 View Post
    Thats already going on, at least in canada. I saw that petrochina is trying to get a $5+ billion deal with Encana to get a stake in a large nat gas reserve in british columbia and alberta. Not that I see anything wrong with that. We use quite a bit of nat gas for heating and electricity. Its not popular in cars yet, but they do have some filling stations for them. It is cheaper per gallon, but I think you get worse mpg's, that and it is hard to find a place to fill up!

    CNG stations and Prices for the US, Canada and Europe
    Nothing wrong with what the Chinese are doing, I was just pointing out that they are making a lot of different energy bets. I think they even made an investment in a US company, chesepeak energy.

    Nat Gas is materially cheaper than oil on a MPG basis. It is also cleaner. So Obama's new position is to tax companies more for drilling in the US while oil prices soar. Sometimes you just make this stuff up.

    You are correct we do not have much of an infrastructure you filling cars and trucks with nat gas. How much better off would the country have been if some of the stimulus was spent to build out that infrastructure. It would have created an whole new industry in the country.

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    I didn't say we would be running out of oil. What I, and all of the experts, including the Pentagon, are saying is that it is likely we will run out of cheap oil in a few more years, perhaps as soon as 2015. It doesn't mean we will run out of oil, what it means is that consumption will outstrip production causing possible sharp price increases. We can already see the prices going up, and this is just leading up to peak oil.

    China and Saudi Arabia think long-term, unlike the US. They understand what peak oil will mean to countries caught unprepared to grow in a non-oil based economy once we pass world peak oil in a couple more years.
    If people knew for sure what your post says then we should all stop wasting time posting on this site and spend out time figuring out how to invest in something that is sure to increase in value.

    The reality is no one knows for certain anything like what you just said. One easy example. How much oil is Iraq exporting daily these days. Something like 1-2 million barrels a day. When they get their act together this can/will go to 5-7 million bbd. How much additional oil will come out of the canadian oil shale, and similar fields in the U.S.

    As far as oil spiking now, didn't Obama just send all his federal agencies to find out which speculators are ripping us off? Maybe you should send him a note on peak oil.

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    The administration we elected in 08 has committed more funding for nuclear power than any other administration in our history. It it is going to take nuclear, solar, wind, and biofuels altogether to replace our dependency on affordable oil when it runs out in a couple more years. See the warning by the US military last year, they warned it could happen as soon as 2015.

    Tell me something, why do you think China and Saudi Arabia are investing so much into wind and solar technology?
    How many nuclear power plants are being built?

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by washunut View Post
    Nat Gas is materially cheaper than oil on a MPG basis. It is also cleaner. So Obama's new position is to tax companies more for drilling in the US while oil prices soar. Sometimes you just make this stuff up.
    I saw the other day that Transcanada has been trying for some time to get an oil pipeline to go across the US. Basically it would make a path from Cushing OK to the gulf. Its called the Keystone XL pipeline.This would do a lot to get rid of the huge spread between the WTI in cushing and Brent in Europe, but it has been held up by the EPA forever. Apparently several members of congress petitioned against it on the grounds that it would cause greenhouse gas emissions to jump. The irony of it is, now because of the huge spread in prices it is profitable to ship it via rail and truck. As if that does not emit and greenhouse gases...

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    I didn't say we would be running out of oil. What I, and all of the experts, including the Pentagon, are saying is that it is likely we will run out of cheap oil in a few more years, perhaps as soon as 2015. It doesn't mean we will run out of oil, what it means is that consumption will outstrip production causing possible sharp price increases. We can already see the prices going up, and this is just leading up to peak oil.

    China and Saudi Arabia think long-term, unlike the US. They understand what peak oil will mean to countries caught unprepared to grow in a non-oil based economy once we pass world peak oil in a couple more years.
    What cheap oil? Have you checked the price lately?

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by washunut View Post
    If people knew for sure what your post says then we should all stop wasting time posting on this site and spend out time figuring out how to invest in something that is sure to increase in value.
    Many of us have, I built my own passive solar home in 1984, bought the first hybrid car realeased in this country, the Honday Insight - 70 mpg., and recently purchased a 1.5 KW solar cell panel system for electrical production to supply my electrical needs. China now leads the world in investment in clean energy. Saudia Arabia is also investing heavily into clean energy.

    The reality is no one knows for certain anything like what you just said.
    All of the world's experts agree we are approahing peak oil. Cheney had a whole task force of experts that attested to it.


    One easy example. How much oil is Iraq exporting daily these days. Something like 1-2 million barrels a day. When they get their act together this can/will go to 5-7 million bbd.
    Our war for oil in Iraq is the only reason we are not already at peak oil. And we had to kill thousands of innocent people to be able to takeover control to make possilble for big oil to exploit. Now add that cost to what you are paying at the pump.

    How much additional oil will come out of the canadian oil shale, and similar fields in the U.S.
    Peak oil mean the end of cheap oil. Shale oil, or oil sands will not affect when we reach peak oil as it is not cheap to either get out or refine. It takes almost as much energy in the extraction, resource demands, and refining costs as it produces.

    As far as oil spiking now, didn't Obama just send all his federal agencies to find out which speculators are ripping us off? Maybe you should send him a note on peak oil.
    Why, I have no doubt the speculators are making money hand over fist over fist and are merely compounding the increased prices brought about by supply problems and uncertainties.

    The GOP deregulated the speculators which allowed the creation of ENRON, and greater freedom for speculators to price gouge commodity prices. How's that deregulation worked out for us?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by ptif219 View Post
    What cheap oil? Have you checked the price lately?
    Exactly my point, and that's for just approaching peak oil. Think what the price will be like when get there in a couple more years!!!
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    Exactly my point, and that's for just approaching peak oil. Think what the price will be like when get there in a couple more years!!!
    Oil prices are not from peak oil.

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    All of the world's experts agree we are approahing peak oil.
    Lies.

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