|
| |  |
| The Oil Drum: Fuel Prices As We Go over the Top...? |
|
Guest writes "The first question asked by those hearing about fuel depletion is usually: "How high will prices go?". The attitude is almost always that one will just have to pay up, as the fuel is essential. This is of course a recipe for extremely high prices, but just how prices will vary as the depletion process unfolds remains to be seen.
We already have an example of a (nearly) isolated market that has definitely gone over the top of production, and that is the North American natural gas market. What else can we learn?
Much more after the jump to The Oil Drum."
|
|
Posted on Tuesday, October 24 @ 12:51:26 PDT by leanan |
|
|
|
|
| |
|
| No Comments Allowed for Anonymous, please register |
|
|
|
|
Re: The Oil Drum: Fuel Prices As We Go over the Top...? (Score: 1) by billp on Tuesday, October 24 @ 23:08:00 PDT (User Info ) http://www.prosefights.org/ | Mr. Payne: Thank you for your interest in my Part II: The Next Step-Conversion to the Solar Hydrogen Economy. You may have seen my article on http://www.beyondfossilfuel.com/.
You may want to see my other article at http://www.hydrogennow.org/ about the air pollution caused deaths in the U.S. and Europe.
In my article I am not proposing anything. I am just reporting on the national interest, Government action and progress on the Solar-Hydrogen Economy. There is far more available hydrogen (as water) as there are fossil fuels. Currently, our addiction oil is supporting our way of life. As you are aware, there are 5 oil-producing nations whose oil production has peaked and is on the downside of the curve. The U.S. oil production peaked in 1970 and has been declining ever since. In 1999, then CEO Dick Cheney(Haliburton Corp) said that: "oil demand will increase 2% per year while oil production will decline 3% per year". This was confirmed by geologists, scientists and oil CEOs. Hence, there will be a 50 million bbl/day shortfall in oil to meet the demand in 2010-12. This oil "crash" should generate a macroeconomic upset reminscent of the Great Depression. Think for a moment what would happe n if gasoline/oil stopped tomorrow and was no longer available. There would be massive layoffs, very little food in the market, bank closures, and riots in the streets. No, we had better convert to the Solar-Hydrogen Economy before this happens.
The conversion of coal into fossil fuels via the Fischer-Tropsch process is too energy intensive. This would require heating the catalyst via coal combustion or natural gas which would generate more GHG and push up the prices of those fuels while depleting those resources even faster. No, the Solar-Hydrogen economy is the answer as it is non-polluting.
Again, thank you for your comment.
Dr. Warren Reynolds, Consultant
|
|
|
|
|
|
|
|