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Thread: Gasoline prices zip toward $3 mark

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Porchev View Post
    I am new here, but I think the rules on this forum say this should have a link.
    (Painting Carter this way is pretty entertaining to me.)


    Rethinking Carter - William L. Anderson - Mises Institute
    Carter deregulated the Airlines and Trucking industry too.

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by American View Post
    Since you failed to explain the difference you don't know it either. Carry on.
    I explained it already in a previous post. Read it and then get back to me.

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Dirty Harry View Post
    Rethinking Carter - William L. Anderson - Mises Institute
    Carter deregulated the Airlines and Trucking industry too.

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Catawba View Post
    Drill away baby. But you better start using solar and wind power as well, because we haven't produced enough oil to meet our needs for decades.
    Solar/wind power are completely unusable except as a supplement to other power sources, in which case their production often actually increases the the need for non-renewable resources.

    Quote Originally Posted by PeteEU View Post
    Yea drill all you want.. it wont impact prices for years if at all.
    True, but I fail to see how that's a justification for not doing so. We're suffering now because we decided not to drill years ago.

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Dav View Post
    Solar/wind power are completely unusable except as a supplement to other power sources, in which case their production often actually increases the the need for non-renewable resources.
    I appreciate your opinion but I have already shown here they are completely usable. We have known for over 3 decades how to cut the energy needed for heating and cooling by a minimum of 50%.
    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: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Porchev View Post
    Are you in denial, again?
    The fact is Nixon imposed price controls and Carter phased them out.

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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by Dav View Post
    Solar/wind power are completely unusable except as a supplement to other power sources, in which case their production often actually increases the the need for non-renewable resources.
    What makes you think they're unusable?
    Are you coming to bed?
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    Re: Gasoline prices zip toward $3 mark

    Quote Originally Posted by ptif219 View Post

    Still, if only half can be extracted, scientists believe the amount is nearly triple the oil reserves of Saudi Arabia.
    Therein lies the problem. The energy needed to extract and process it is greater than the energy produced from shale oil.

    "In a 1999 speech he gave while still CEO of Halliburton, Cheney stated:

    By some estimates, there will be an average of two-percent annual growth
    in global oil demand over the years ahead, along with, conservatively, a
    three-percent natural decline in production from existing reserves. That
    means by 2010 we'll need an additional 50 million barrels per day. Source

    Cheney's assesement is supported by the estimates of numerous non-political, retired, and now disinterested scientists, many of whom believe global oil production will peak and go into terminal decline within the next five years, if it hasn't already. Source

    Many industry insiders think the decline rate will far higher than Cheney anticipated in 1999. Andrew Gould, CEO of the giant oil services firm Schlumberger, for instance, recently stated that "An accurate average decline rate of 8% is not an unreasonable assumption." Source Some industry analysts are anticipating decline rates as high as 13% per year. Source A 13% yearly decline rate would cause gobal production to drop by 75% in less than 11 years.

    If a 5% drop in production caused prices to triple in the 1970s, what do you think a 50% or 75% drop is going to do?
    Peak Oil, Matt Savinar, Life After the Oil Crash


    "What About the Oil Shale in the American West?"


    "The huge reserves of oil shale in the American west suffer from similar problems. While Shell Oil has an experimental oil shale program, even Steve Mut - the CEO of their Unconventional Resources Unit - has sounded less than optimistic when questioned about the ability of oil shale to soften the coming crash
    . According to journalist Stuart Staniford's coverage of a recent conference on Peak Oil:
    In response to questions, Steve guesstimated that oil shale production would still be pretty negligible by 2015, but might, if things go really well, get to 5 mbpd by 2030. Source

    Disinterested observers are even less optimistic about oil shale. Geologist Dr. Walter Youngquist points out:
    The average citizen . . . is led to believe that the United States really has no oil supply problem when oil shales hold "recoverable oil" equal to "more than 64 percent of the world's total proven crude oil reserves." Presumably the United States could tap into this great oil reserve at any time. This is not true at all. All attempts to get this "oil" out of shale have failed economically. Furthermore, the "oil" (and, it is not oil as is crude oil, but this is not stated) may be recoverable but the net energy recovered may not equal the energy used to recover it. If oil is "recovered" but at a net energy loss, the operation is a failure. Source
    This means any attempt to replace conventional oil with oil shale will actually make our situation worse as the project will consume more energy than it will produce, regardless of how high the price goes. Plenty of money, however, will likely be thrown at attempts to develop the oil shale as most investors are as energy-illiterate as the general population.

    Further problems with oil shale have been documented by economist Professor James Hamilton who writes:

    A recent Rand study concluded it will be at least 12 years before oil shale reaches the production growth phase. And that is a technological assessment, not a reference to the environmental review process. If it takes 15 years to get an oil refinery built and approved, despite well known technology and well understood environmental issues, viewing oil shale as something that could make major contributions to world energy supplies in the immediate future seems highly unrealistic. Source"
    Peak Oil, Matt Savinar, Life After the Oil Crash
    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: Gasoline prices zip toward $3 mark


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    Re: Gasoline prices zip toward $3 mark

    Doom and gloom seldom happens. Keep believing it but if you have to go back to 10 year old predictions it shows what a fallacy it is.


    We Will Never Run Out of Oil


    In conclusion, if markets are allowed to function freely the supply of oil will never run out, in a physical sense, though it's quite likely that in the future gasoline will become a niche commodity. Changes in consumer patterns and the emergence of new technology driven by increases in the price of oil will prevent the oil supply from ever physically running out. While predicting doomsday scenarios may be a good way to get people to know your name, they are a very poor predictor of what is likely to happen in the future.

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