Wonder why the United Arab Emirate are building a zero-carbon city in Abu Dhabi?
What about the 2 trillion barrels under the Rocky Mountains?
The Bakken?
Gull Island?
[quote]THE_CLAMP_DOWN wrote:
What about the 2 trillion barrels under the Rocky Mountains?
The Bakken?
Gull Island?[/quote]
Hopefully those are the unidentified projects.
[quote]Bill Roberts wrote:
Probably because of the long history of crying wolf with this argument.
And it hasn’t been just oil. The Club of Rome (if I recall the name correctly) was decades ago making a huge deal of how we were inevitably running out of everything, such as metals. They had all kinds of predictions of which much was made, but none proved remotely right.
There’s already a futures market for commodities. This is a place where people who put their money where their mouth is make their predictions, as opposed to ivory tower thinkers and those with political agendas.
Even more importantly, every entity that owns things such as oil fields or mines is on an ongoing basis making decisions as to whether to produce and sell product today, or hold off and instead produce and sell it any number of years from now. If their analysis is that the latter will be more profitable due to expecting scarcity at that date, self-interest will have them adjusting their output accordingly.[/quote]
This.
Peak Oil retards have been saying this crap for decades. Of course at some point they are going to be correct because if you say ANYTHING long enough you will eventually be right. Advances in technology that we cannot forsee make it impossible to make more than a wild guess at exactly how much oil, or any other resource is available.
[quote]Bill Roberts wrote:
Probably because of the long history of crying wolf with this argument.
And it hasn’t been just oil. The Club of Rome (if I recall the name correctly) was decades ago making a huge deal of how we were inevitably running out of everything, such as metals. They had all kinds of predictions of which much was made, but none proved remotely right.
There’s already a futures market for commodities. This is a place where people who put their money where their mouth is make their predictions, as opposed to ivory tower thinkers and those with political agendas.
Even more importantly, every entity that owns things such as oil fields or mines is on an ongoing basis making decisions as to whether to produce and sell product today, or hold off and instead produce and sell it any number of years from now. If their analysis is that the latter will be more profitable due to expecting scarcity at that date, self-interest will have them adjusting their output accordingly.[/quote]
damn double quotes.
Longer Bridge
http://earth2tech.com/2010/02/15/terrapower-how-the-travelling-wave-nuclear-reactor-works/
V
With this being my future sector all I can say is…drill baby drill
[quote]THE_CLAMP_DOWN wrote:
What about the 2 trillion barrels under the Rocky Mountains?
The Bakken?
Gull Island?[/quote]
It’s all about energy returned on energy invested.
Sure, in theory there’s billions of barrels of oil ‘locked’ in oil shale, sands and the like.
But that shit is useless in that form. We need a refined product above ground. THAT is the key issue. Getting that shit is much harder than drilling a hole in the Saudi desert. There’s no point in using more energy than you gain, extracting and refining oil shale.
[quote]JoeGood wrote:
Peak Oil retards have been saying this crap for decades. Of course at some point they are going to be correct because if you say ANYTHING long enough you will eventually be right. Advances in technology that we cannot forsee make it impossible to make more than a wild guess at exactly how much oil, or any other resource is available.[/quote]
It doesn’t fucking matter when oil production will peak. It’s beyond stupidity using it for driving around, considering the uses, and considering it’s mainly located in the fucking Middle East and Russia.
But Americans love their driving in tanks too much to see this obvious fact. Love it enough to start several wars. Good stuff. How about using something else and giving those oil producing cocksuckers the finger? YES, this applies to Europe as much as to the US. All those oil producing countries (Russia, Venezuela, KSA, Iran) amount to nothing without their oil exports. What kind of strategy condones paying your enemies millions of dollars every day???
Exactly, a failing strategy.