Another "believable" USGS statistic. Off by, what, 80Gb? Or maybe that includes the sludge at the bottom of Lake Erie?

So we're riding along, and I turn to the driver and I say, Dude, we've been driving for hours. How much gas do we got left? And the driver turns to me and he says, "We have a 50 gallon tank." Yeah, I says, but how much gas do we got? And he turns to me and he says, "Wait a minute, make that a 75 gallon tank....."

And now, drumroll please:

NO COMMENT.

http://www.chronwatch.com/content/conte ... ?aid=14352

Good post killJoy----Goes along with another thread this evening about Houston based Strategic Forecasting Inc. saying China will collapse in the 4th Quarter of this year. Unbelievable stuff--it is definately panic time in the Bush and friends old homestead--no one but brain-dead economists believe the Saudis anymore so it is time to reach down into the bottom of the barrel.

killJOY,

I don’t know anything about that author or the USGS, do you have a source from other authorities showing their estimates to be incorrect or is the author just making it up?

BigBear,

You appear to be implying a conspiracy regarding “Houston based” Strategic Forecasting Inc. & George Bush. Is there some inside information you have regarding this company or is it that you are just mocking something you know absolutely nothing about?

Eh... it's not the fault of the liberals! It's all the GAYS fault! Don't you people know anything??

Seriously. People need to stop looking to place blame. If you've ever unnecessarily used oil for any purpose, then you've contributed. Knowingly or not. Who cares anyway? If they're so "above" the liberals/gays/[insert group here] why haven't they come up with a viable solution? How about people put all that negative energy into actually doing something?! Y'know... if we could run cars off people's negative energy...

BiGG---if you honestly believe what that ironically based Houston firm had to say--that a country as rich and vibrant as China will collaspe 6 months from now --just coincidently when oil supply around the world will really start to tighten up--I know where you can get a job!!!

I've seen several estimates of the US's original endowment being about 200 Gb with about 22Gb remaining.

http://www.asponews.org/ASPO.newsletter.023.php

See the country assessment of the US.


Then there's hubbertpeak.com

China is not "rich" by any means and nothing more than a puppet dangling at the end of United States controlled strings. It appears we are about to stop the dance over there when we up the interest rates here again.

Take a look at this article from the Asia Times, it doesn’t have anything to do with Houston or George Bush and is saying the same thing.

Increasing interest rates will only hurt ourselves.

China is already finding other export partners and every multinational company will continue to outsource there. Even Mexico is loosing jobs to the Chinese.

It's unlikely we will be raising interest rates unless there is runaway inflation.

Either way, it just shows how fucked we are.

BiGG --- This pretty well says it as it is--a possible slowdown in China is not collaspe and will be parelled by a slowdown in the U.S. and other western countries. We are all hanging from the same string--an ever dwindling string of energy.

I don't think China will "fail" like the Asian "Tiger" economies did in the late '90s. Even if they do, big deal. We should all "fail" that way.

China is not like the other Asian countries. For one thing, they learned from others' mistakes. They have steep barriers to foreign investment, and so they won't have Western speculators swooping in and buying up their assets at discount prices. This causes other problems, like cash piling up from the trade imbalance, but they seem to be handling it well. For them, I mean, not for us. They do have a lot of bad debt from the old state-run industries, but they also have lots of solid growth and a slew of cash reserves.

IOW...what happened to the Asian "Tigers" won't happen to China...unless they give in, and do what we want them to. (Lower trade barriers, let their currency float, etc.) I don't think they will do that, at least not for awhile.

we all hate liberals.... who doesn't? whiny bleeding heart poofters the lot of them..

heheh, you said 'poofters!'

Of course its the fault of liberals. They liberally use every thing. Even directions for using products say things like "apply liberal amounts of oil to . . . " If it weren't for the liberals, our economy would not be in the state its in. If everyone were conservative, we would have extremely efficient vehicles; some of us would still be using our great great great grandads horse drawn wagon. Also, many of the skills our great . . . ancestors had would be passed down. The average teenager would still know how to repair the [fill in the blank].

Yes, folks PO is the fault of liberals -- no question.

As I remember hearing someone say "A Conservative -- aint." [if anyone knows the original source please comment.]

ArimoDave

I KNEW IT! Our oil addiction is the environmentalists fault! Oh how could I not see it before!



So, his main point seems to be something along the lines of this: gas prices would be low if we drilled in Alaska. Wow, an extra 1 MBPD, gee I can't think of any way OPEC could respond if we put an extra 1 MBPD on the market. Oh wait I can. OPEC could just cut production.

(Saudi Arabia seems glad to cut production whenever OPEC lowers its quota so they can hold the illusion of a healthy Ghawar as long as possible.) Hmm, so in that case OPEC produces less and we produce more. So in the future, an even higher percent of our oil will come from overseas. Wow, spectacular.