Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Posted: Wed Apr 30, 2008 11:26 am Post subject: Shell President On CNN Addresses PO
Quote:
ROBERTS: The president is advocating more drilling on U.S. territory. Isn't it true that globally we're starting to reach a peak in production and that within maybe a decade or two oil production will begin to decrease?
HOFMEISTER: Well, I think there is some argument [that] with convenient, easy oil we will peak sometime in the next decade. I think Shell sees that coming, but in terms of total oil supply to the world, we're a long way from reaching peak oil because it doesn't take into account unconventional oil.
I think the president brings up a good point in that we could, we have the available domestic supplies off the coast of Alaska as well as [the Alaska National Wildlife Refuge]. Shell has won $2 billion worth of high bids for the Chukchi Sea -- that's a few years off before we could begin production.
But let's remember there's more than 100 billion barrels of untouched oil and gas in this country that is subject to a 30-year moratorium. Now, there's only one body in this country that can set a 30-year moratorium, and that's the U.S. government.
Joined: Sep 19, 2007 Posts: 1081 Location: Land of the Tongva tribe
Posted: Wed Apr 30, 2008 11:54 am Post subject: Re: Shell President On CNN Addresses PO
Its also interesting later in the article he attributes taxing oil companies in the 80s lead to the US importing oil. I guess US peak production in 1970 has no influence on importing oil in the 80s.
joeltrout _________________ ENERGY is the basis of our industrial civilization and sustains our standard of living. It is the foundation stone of our national wealth. A nation starved of energy.....will be a nation of starving people.
Joined: Sep 16, 2004 Posts: 4248 Location: Southwest WI
Posted: Wed Apr 30, 2008 12:14 pm Post subject: Re: Shell President On CNN Addresses PO
Within a decade...? How about now. Kind of being honest on the peaking of "easy oil". Not horrible coming from him. The guy can't be too honest or he'll scare the masses. _________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
Joined: Sep 19, 2007 Posts: 1081 Location: Land of the Tongva tribe
Posted: Wed Apr 30, 2008 12:19 pm Post subject: Re: Shell President On CNN Addresses PO
frankthetank wrote:
The guy can't be too honest or he'll scare the masses.
I agree. Same thing with Bush.
joeltrout _________________ ENERGY is the basis of our industrial civilization and sustains our standard of living. It is the foundation stone of our national wealth. A nation starved of energy.....will be a nation of starving people.
Posted: Wed Apr 30, 2008 12:21 pm Post subject: Re: Shell President On CNN Addresses PO
frankthetank wrote:
Within a decade...? How about now. Kind of being honest on the peaking of "easy oil". Not horrible coming from him. The guy can't be too honest or he'll scare the masses.
I thought it was interesting because they didn't beat around the bush about PO on the morning show while most Americans were preparing to commute to work. I had just had a discussion with my wife about oil prices where she is in the undecided camp ( she is peak aware and helps me with the preps but has her doubts) and bam there they were plopping it out on the discussion on CNN. _________________ It's a cold cold world when a man has to pawn his shoes.
Joined: Aug 03, 2006 Posts: 4054 Location: Gathering
Posted: Wed Apr 30, 2008 1:24 pm Post subject: Re: Shell President On CNN Addresses PO
Watch what happens as peakoil penetrates the mainstream.
One of the dumbass acquaintances we all have will come up to us and say "hey man, did you hear about oil production peaking?"
You will reply "yes, I have been trying to tell you about it for several years, don't you remember?"
"No, no man, what I'm talking about is it's really happening."
"What did you think I was talking about when I told you it was about to happen?"
"Oh, you mean all that doom and gloom crap? All that stuff is just being negative."
"No, it's being realistic. Unfortunately, we've now waited too long to do anything about it, and we're screwed."
"There you go again, it's all negative, negative, negative."
"No it's not. I wanted to do something when something could be done and no one wanted to listen."
"Well, this country didn't become great by worrying about what might go wrong and being negative all the time."
"Okay. So what do you think about peak oil now that you see it is real and is going to be a serious problem?"
"Well, I see that peak oil is a problem, but you know what the Cantonese word for problem is bro, it's quangchongdonglong, which means "opportunity"."
"An opportunity for what?"
Your buddy pulls you close and whispers. "Two words my friend--alternative energy. Check it out. That's the future."
"Really. So that's all there is to it?"
"Yup. Well, the scientists are going to have to get off their asses and get to work, but I'l bet they can get it figured out. Have you seen what they're doing with those little pieces of nano-bytes? They're making all kinds of stuff out of it. I heard they made a chair out of it that floats. How do like that, dude, a floating chair--just hovers above the ground about six inches."
"Are you concerned about the future at all?"
"Concerned about what?"
"Overpopulation, pollution, resource depletion, resource wars, excessive leverage in the financial sector, too much debt at every level of society, unfunded future government promises, dollar devaluation....A lot of stuff really."
"Did you say "resource war"?"
"Yes."
"Is that like where you hire a bunch of contractors to fight because you don't have enough soldiers?"
"No, I think that would be "outsource war"."
"Oh yeah, right. So anyway man, take it easy, don't let all the negativity get you down. I'm feeling pretty good right now myself."
"Really. Why?"
"Got a hot stock I've been watching and decided it's time to "back up the truck". Company's called "First Solar". Have you heard of it?" _________________
Joined: Jun 13, 2007 Posts: 3329 Location: Minniesotuh
Posted: Wed Apr 30, 2008 3:19 pm Post subject: Re: Shell President On CNN Addresses PO
Got this email today:
Issue April 30, 2008 - http://sanders.senate.gov
Dear Friend,
Hundreds of Vermonters have contacted my office expressing outrage over the high cost of oil and gas. Workers have told me they no longer can afford to fill up their gas tanks as they travel long distances to work. Older Vermonters are expressing real concern about how they will stay warm next winter with home heating fuel prices already averaging $3.89 per gallon. Truck drivers doubt whether they can remain in business. Clearly, we are facing a national crisis. The crisis not only affects consumers of gas and oil, it has an impact on food prices, small businesses, family farmers, tourism and, in fact, our entire economy. Congress must act now.
Sincerely,
[Senator] Bernie Sanders
To read what Senator Sanders wants to do about skyrocketing gas prices, All we need to do is....
"back up the truck" and get out the siphon hoses! Yeah! _________________ "RRrrruuuunnnn!!!" ~Apocalypto
Joined: Apr 06, 2006 Posts: 2862 Location: 3 miles NW of Champoeg, Republic of Cascadia
Posted: Wed Apr 30, 2008 6:54 pm Post subject: Re: Shell President On CNN Addresses PO
Ferretlover wrote:
Got this email today:
Issue April 30, 2008 - http://sanders.senate.gov
Dear Friend,
Hundreds of Vermonters have contacted my office expressing outrage over the high cost of oil and gas. Workers have told me they no longer can afford to fill up their gas tanks as they travel long distances to work. Older Vermonters are expressing real concern about how they will stay warm next winter with home heating fuel prices already averaging $3.89 per gallon. Truck drivers doubt whether they can remain in business. Clearly, we are facing a national crisis. The crisis not only affects consumers of gas and oil, it has an impact on food prices, small businesses, family farmers, tourism and, in fact, our entire economy. Congress must act now.
Sincerely,
[Senator] Bernie Sanders
To read what Senator Sanders wants to do about skyrocketing gas prices, All we need to do is....
"back up the truck" and get out the siphon hoses! Yeah!
Wow.
Quote:
Demand that Saudi Arabia and other OPEC oil-producing countries increase their production and put more oil on the market. Incredibly, Saudi Arabia is producing less oil today than it did two years ago. Experts believe that Saudi Arabia alone has the capability to increase oil production by 1.8 million barrels a day.
Sounds plausible!
Sanders talks with radio guy Thom Hartmann every Friday, I happened to tune Thom in on my clock radio while waking up the other day and heard Ellen Ratner explain to him who Roscoe Bartlett is. Hartmann wrote a book in 1998 with Peak Oil as its theme! Again:
These people are in for one king hell cold shower. _________________ Cogito, ergo non satis bibivi
I'm just gonna find a cash machine.
Joined: Jun 28, 2005 Posts: 330 Location: san jose CA
Posted: Wed Apr 30, 2008 7:08 pm Post subject: Re: Shell President On CNN Addresses PO
TheDude wrote:
Ferretlover wrote:
Got this email today:
Issue April 30, 2008 - http://sanders.senate.gov
Dear Friend,
Hundreds of Vermonters have contacted my office expressing outrage over the high cost of oil and gas. Workers have told me they no longer can afford to fill up their gas tanks as they travel long distances to work. Older Vermonters are expressing real concern about how they will stay warm next winter with home heating fuel prices already averaging $3.89 per gallon. Truck drivers doubt whether they can remain in business. Clearly, we are facing a national crisis. The crisis not only affects consumers of gas and oil, it has an impact on food prices, small businesses, family farmers, tourism and, in fact, our entire economy. Congress must act now.
Sincerely,
[Senator] Bernie Sanders
To read what Senator Sanders wants to do about skyrocketing gas prices, All we need to do is....
"back up the truck" and get out the siphon hoses! Yeah!
Wow.
Quote:
Demand that Saudi Arabia and other OPEC oil-producing countries increase their production and put more oil on the market. Incredibly, Saudi Arabia is producing less oil today than it did two years ago. Experts believe that Saudi Arabia alone has the capability to increase oil production by 1.8 million barrels a day.
Sounds plausible!
Sanders talks with radio guy Thom Hartmann every Friday, I happened to tune Thom in on my clock radio while waking up the other day and heard Ellen Ratner explain to him who Roscoe Bartlett is. Hartmann wrote a book in 1998 with Peak Oil as its theme! Again:
These people are in for one king hell cold shower.
Yeah I heard that show, last week I believe. I was almost screaming at Tom listening to my radio telling him to educate Sanders on peak oil and the real issues behind high oil prices. Tom didn't want to be rude or argumentative I guess so he let Sanders have his say on speculation and record oil profits.. I tried calling into the show but couldn't get through. On that note I was listening to the Ed Shultz show today and they had a guest host (forgot his name) and he was interviewing a former energy secretary (for the Clinton admin) who was speaking on behalf of Obama's energy policy. I have to say I am even more impressed with Obama than before. He took to task the argument that lower gas taxes will help and explained it will only increase demand for oil. He also said raising CAFE standards is important and he wants to increase federal funding on renewable energy by 5 fold. This is by far the most grounded energy policy I have heard to date from any mainstream political campaign... its far from perfect but damn it was refreshing.
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"back up the truck" and get out the siphon hoses! Yeah!
