Shell exec says world not running out of oil | |
Omega
User ID: 340280 United States 03/22/2008 05:27 PM Report Abusive Post Report Copyright Violation | It's not about Peak Oil per se, it's about peak demand. With China and India's oil needs coming online fast the days of cheap oil are over. Handguns are a skill; shotguns an art; rifles a science. _____________________________________ Democracy is two wolves and a sheep voting on whats for dinner. Disarmament is the precursor to Genocide. Better to take action now rather than chances later. Your choice. |
Anonymous Coward (OP) User ID: 395190 United States 03/22/2008 05:28 PM Report Abusive Post Report Copyright Violation | [link to www.amazon.com] It is estimated that Americans consume more than 25 percent of the world's oil but have control over less than 3 percent of its proven supply. This extremely unbalanced pattern of consumption makes it possible for foreign governments, corrupt political leaders, terrorist organizations, and oil conglomerates to place the citizens of the United States in a stranglehold of supply and demand. There is no greater proof of this than the direct relationship between skyrocketing gas prices and the exploding wealth of those who control the supply of oil. In Black Gold Stranglehold, Jerome R. Corsi and Craig R. Smith expose the fraudulent science that has been sold to the American people in order to enslave them: the belief that oil is a fossil fuel and a finite resource. On the contrary, this book presents authoritative research, currently known mostly in the scientific community, that oil is not a product of decaying dinosaurs and prehistoric forests. Rather, it is a natural product of the earth. The scientific evidence cited by Corsi and Smith suggests that oil is constantly being produced by the earth, far below the planet's surface, and that it is brought to attainable depths by the centrifugal forces of the earth's rotation. In great detail Corsi and Smith explore the international and domestic politics of oil production and consumption. This includes the wealth and power of major oil conglomerates, the manipulation of world economies by oil-producing states and rogue terrorist regimes, and the political agenda of radical environmentalists and conservationists who obstruct the use of oil reserves currently controlled by the U.S. government. The authors offer an understanding of the dangerous situation America faces because its currency is no longer tied to any precious and truly scarce metals such as gold, as it was until 1973. This situation could easily lead to the devastation of the U.S. economy if Middle Eastern countries are able to enact current plans to accept only the Euro or gold-backed currencies such as the Gold Dinar instead of the U.S. dollar as the standard currency for oil. Black Gold Stranglehold will dramatically change the debate about oil. The significance of its message is sure to cause thoughtful people to reconsider the current dependence of the U.S. economy on imported oil. |
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Anonymous Coward User ID: 397881 Norway 03/22/2008 10:38 PM Report Abusive Post Report Copyright Violation | The world gets almost 10% of it's oil from 3-4 very old giant fields - and discoveries peaked in the sixties... Nowadays a 500 million barrel field is rare and considered a big find - and it'll last for under a week of global consumption. 80 billion barrels sounds nice for the find in Brazil, but as we use 1 billion barrels worldwide every twelfth day or so - it takes us give or take three years to burn through this amount of oil. Because regardless of it's size, a field has a max output rate, as the oil slowly seeps through the porous rock and into the pipes. So no matter how big the field or urgent the demand - the field must produce according to it's physical limitations. We're at the plateau of peak production today. Watch Ghawar in SA, Burgan in Kuwait, and Cantarell in Mexico. 8-10% of world supply right there, from very old fields in terminal decline. It's gonna hurt. Oh, and btw... It's not the execs job to talk down their stocks by telling us that their supplies is running out... |