Well, I agree with a grant on Nuclear technology as it has been proven. I don't agree with grants for unproven technologies. At the end of the day, the US will waste money. It is just a simple fact. Rather it wasted here than in the ME.
Would you care to share the study that supports this position? Not doubting you just that there are a thousand different theories which provide conclusive projections. Hubert's theory wrote that our last drop would have been consumed by 2006, a theory that was a platform for crude pricing yet here we are today, planes still fly and smog-o-saurus SUV's continue to pollute the LA freeways. For a change I am inclined to believe the IEA analysis that these predictions are not solely on oil volumes but the addition of alternative energies that compliment the production of crude. http://www.bloomberg.com/video/u-s-...deast-oil-by-2015-z4ZE8dnQSFicW1KLf4b7cQ.html Natural gas is HUGE which is why I brought in T-Boone. Boone is all about natural gas and his rights to water propel his platform. Fracking will continue to grow until environmentalist complain enough about man made earth quakes. Offsetting crude with other energies is key to ridding ourselves from OPEC's reign. We can become energy independent and have more of a say in the cost for the global demand.
Not quite that many, but yes you can plug many variables into the formula. But it is conclusive that oil production at the scale we enjoy today will drop off steeply and very soon. All the studies depict this. http://www.guardian.co.uk/science/2005/apr/21/oilandpetrol.news Actually Hubert's Peak Oil curve did not say "every drop gone in 2006". It said that oil production was a bell curve with a peak in the 1970s, followed by a steep drop then a flattening at extremely low production. Long before the oil is gone, it will become unaffordable. Actual production figures have proven to be very faithful to Hubert. The 5 million barrels per day we produce now will be less than 500,000 barrels per day in 60 years. Not "gone" in absolute terms (we will have low-level production) but gone in the sense of how the world uses oil today. And prices will skyrocket because the demand curve is staggering. Alternate energy sources are important, but cannot replace oil in most circumstances. Natural Gas is indeed huge, but it is also a resource with a depletion curve. It has great potential to replace coal, but far less to replace oil. If we cannot get past fossil fuels in the next century with a scientific breakthrough, human lifestyles will change dramatically, especially with the scary population increases now happening. OPEC does not set prices. Oil is a global commodity and the prices are set by supply and demand. We pay just as much for domestic oil as we do for foreign oil. Becoming "self-sufficient" means that we will spend less money overseas, but not less money. And this comfort is ephemeral. By being self-sufficent, we will deplete domestic reserves much more rapidly and end up sending far more money overseas in 50-100 years to buy remaining foreign reserves at vastly inflated prices. For many countries (including the US) it may be much cheaper to invade Venezuela and take the oil than to buy it. Saudi Arabia greatly fears that day, which is the only reason that they are steadfast US allies. They can't defend their own oil fields from their third-world neighbors, much less Russia or China.
Also from your link: Colin Campbell is not a company man without an agenda? lol Can't be reports like these are designed to keep the panic button breathing so that prices stay up? I mean, God forbid somebody says Oil will last another 100 years, I mean prices will fall back to black and white film prices all while common folk fly across our oceans and express freedom. I am not beating up your source, I am beating up ALL sources from those that are respected industry experts. Serious? OPEC is an Arab ran cartel. They set production quotas to keep production down and prices up. Saddam Hussein used the "oil for food" platform to circumvent OPEC's imposed quotas. Aside from gassing his own people and those in Iran, he hung hardest for this. OPEC will NOT stand for any nation fuggin with their set quotas. OPEC says jump and we say "how high".
OPEC is indeed a cartel who sets production quotas that can affect supply and demand, but they do not set global prices. Nor are they the only petroleum exporting country. The United States is one and so is Russia, China, Canada, Mexico, and Brazil . . . six of the top 10 that are NOT in OPEC. OPEC can affect prices but they cannot control them. Not at all. OPEC notoriously doesn't get along with each other. Saudi Arabia has many times increased oil production at the request of the US to help lower prices during crises, to the distress of their enemies Iraq and Iran. In 1973, to express their displeasure at the western support of Israel in the Yom Kippur War, OPEC tried to use "The Oil Weapon" and embargoed oil to the west. Initially alarming to us, it turned out to be a huge blunder for OPEC. First of all, they quickly discovered that they were addicted to oil income which plummeted and severely impacted their own economies. If it was a weapon, it was a double-edged sword. Worse, it forced America and Europe to do three things that have stymied OPEC dreams of controlling the worlds oil ever since . . . we initiated energy conservation measures that worked, exploited new reserves in Russia and the North Sea, and increased domestic production to the point that OPEC could not impact us that way again. Thirdly they discovered that they could not agree on production quotas and they all began undercutting each other . . . eventually luring us back with cheap oil and lots of it.
Correct. So why then did we invade Iraq...the second time? Cheney still refuses to answer that one...although we know OPEC has partners in on those fields. My position is oil is oil, regardless of OPEC's partners. Look at Brazil and Venezuela. Chavez is dead and BP now wants 40% share of Petrobras. It is all relative when it comes to oil and who produces it. OPEC or not, they are all partners, Petrobras for BP consideration is proof. I never thought Brazil would sell out.
Not BP, but the 40% went too: http://www.rigzone.com/news/oil_gas/a/122361/Petrobras_Sells_Stake_in_BS4_Block Just happened Monday. OGX is a Brazil company which has partnered with BP for deep-well technology. Circles back to my point that oil is oil. The fleecing never stops.
Because the Neocons were profoundly incompetent. Dub wanted to accomplish something his father didn't and none of them realized the limitations of our military power. After the Gulf War, we were feared as a Superpower that could go anywhere and do anything. Bush/Cheney exposed our weakness against guerilla war and we will pay for that for many years. OK. But what does that have to do with the validity of Peak Oil and the rapidly impending depletion?
