oil : $250 a barrel ...

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He is trying to scare people into this:
 Quote:
"We should consider the reform of the existing system of linking oil prices to only one currency" in favour of a multi-currency settlement system, he said.
This would be very bad for the US.
 

smokey1

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CHINAs import of oil is greater than ours . This is part of the reason why oil / gas prices are rising as we post .
 
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Somebody passed gas somewhere on the planet and they put oil prices up. It's a game to see how much they can get away with. They have been saying that we are running out for the past 40 years and yet we continue to grow in population on this planet and put more/more cars on the road. It's all B.S. IMO.
 
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 Originally Posted By: Shannow
StevieC, do you think that there's unlimited oil, or finite ?
The Planet is finite therefore oil is finite,duh. But no one knows how much oil there is on planet earth. No one knows what technological breakthroughs will happen that will allow humanity to tap previously unreachable oil. No one. Not Al Gore. Not the Lefty Loby. I do know that the first report to Congress on Petroleum stock was written in 1898 by the most learned PhD-laced minds of the time. It said that if we continue to burn kerosene at the current rate the US would exhaust petroleum supplies within 12 years. Malthusianist and their varied descendents have been proven wrong again and again. This "peak oil theory" serves XoM and lefty nut jobs. It justifies higher oil prices and raisng CAFE standards. Not to metion the creation of electric cars by legislative fiat. To paraphrase the current Saudi oil minister, I forget his name, the world moved past the stone age but not for a lack of stones. The world will move past the oil age but not for a lack of oil. But becuase humanity's greatest minds found a better enenergy source.
 

Kestas

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Back in the 70s - during the first oil shortage - they said gasoline (crude oil) would peak around 1986, then get scarce.
 
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 Originally Posted By: Shannow
StevieC, do you think that there's unlimited oil, or finite ?
No but I believe we have much more than they are letting on because it's good for profitability. There was a story on our Government run news network CBC that said the oil sands in Alberta have enough oil to power every car on this earth currently for the next 100 years. I understand that we are adding cars to the road, but this is just one oil patch, what about the middle east etc. When you factor in all the worlds oil Canada's oil along is good for all cars on earth for the next 100 years, and the rest make up for what we are adding no? They even had some ex-oil company execs on the program that said that it was fear-mongering in the name of profitability. There is a ton of oil IMO, but fear promotes consumerism and consumerism drives demand, which drives price. JMO, you are welcome to think that we are running out... But I ask you to question your elders about the stories they were told some years back about "oils running out" and we are still here burining oil at an exponential rate when it was supposed to have run out shortly some 40 years ago. ;\) My dad had 3 service stations/gas-bars at one point (now we own one) and had inside views into things as well from friends that work for the "oil-cartel" and got him into the business... I'm not speaking from my arse but truth from what he has told me, told to him by people higher up now in the "car-tel".
 

smokey1

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CHINA used 6% more oil this MAY than MAY of 2008 . Could've been higher if our economy was better .
 
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Bare with me I'm trying to find the video where CBC's news special talked with Oil-execs in Alberta and the guy said we had enough oil for 100 years... I will get it up here as soon as I find it. I watched it on TV twice to make sure I didn't miss anything.
 
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 Originally Posted By: Steve S
Do not forget our government has ruined the value of the dollar in the world.
Only going to get worse but people will blame the "evil" oil companies for higher prices which will only drive greater demand for the nationalization of them.
 

PT1

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Oil.....schmoil.........PT1 2009 Indians.....schmindians....General George A. Custer Hitler....schmitler.....Neville Chamberlain 1939 What the H*LL was that?......Mayor of Hiroshima 1945
 
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Steve, I'd imagine the oil exec didn't mention how expensive and messy it is to actually get oil from your sands and shales, or flash any photos of the aftermath.
 
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