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I made my point. Nobody knows how much oild we have.
Americans don't prefer public transport, unless you make it extremely painful for them to drive cars.
I made my point. Nobody knows how much oild we have.
Lets find out, drill baby drill!
it doesn't matter how much oil we have. the US doesn't set the price of oil.
the simplest of concepts always manage to escape you.
We produce our own oil we can set the price for our own market. Why is that hard for you to understand? We flood the market with more oil, the compe on grows. Prices go down. Why is that hard for you to understand? We don't pay all those moneys to get the over here. Why is that hard for you to understand? We don't fund terrorist that try to kill us all over the world. Why is that hard for you to understand?it doesn't matter how much oil we have. the US doesn't set the price of oil.
the simplest of concepts always manage to escape you.
The simplest of concepts always manage to escape you.
You are now being given a choice of paying a little now, or a lot later. There really isn't another choice.
Which do you prefer?
Doom and gloom with this one. You have no clue what will happen in the future. None.
Do you?
Actually we do know, and that is why I said I could easily find it.
Just because you are too lazy to attempt to find the answer, doesn't mean I am.
http://www.eia.doe.gov/emeu/international/reserves.html
Approximately 60bn barrels.
Which, given current production, and assuming that 100% of the reserves are economically feasible to produce, yields 32 years of reserves.
It is certain that some percentage of these reserves is either not economical to produce (say for example $500/bbl+ to produce, making it extremely loss-intensive from a profit standpoint), nor really technically recoverable.
So in less than 32 years, we will come to the end. Long before then we will see the effects of this in higher prices, and some pretty substantial economic effects.
Actually, I have a pretty good idea as to what the most likely outcome is.
http://www.spurstalk.com/forums/showthread.php?t=156620
You are probably too lazy to read it all though, and likely not to understand a good chunk of it.
The data exist, nonetheless.
"we will see the effects of this in higher prices"
which will of course enrich the US oilcos so much that their current wealth will look like lunch money, and of course ship 100s of $Bs overseas.
Everybody take the short term/It's My Money view, and our current trajectory on medical/food/energy/water/land is fully sustainable indefinitely.
America is ed, and there's nothing, especially not conservatives and Repugs, anybody will do about it.
LMFAO......Nobody knows how much oil we can find. Nobody.
The only way to truly do this is for the government to regulate oil companies and forbid them to sell oil to anybody from outside the US, even if they offer a higher price than what they could get from selling it in the US.
I thought you were against government restricting free markets.
Why are simple concepts like free markets beyond your understanding?
To some degree the exact amount of oil is unknown.
We do know:
How much we have found and at what rate we are finding it.
We have been using/producing faster than we are finding it, and that trend is accelerating, despite high oil prices motivating companies/governments to find new oil.
It is physcially impossible to keep expanding production indefinitely. That is a mathmatical certainty.
It is universally agreed that we are using/producing it faster than it is being created.
We can take what we do know and make some pretty good estimates as to what will happen in the future, and I have outlined those estimates.
Oil, even with unrestricted development, will run out before my grandchildren learn how to drive, and long before that will become very expensive, relative to our ability to earn money to pay for it. Nominal prices might not e terribly, as Gail pointed out, but given the economic stagnation likely to occur without a massive switchover to renewables, that oil will be relatively VERY expensive.
So you don't know how the free market works, you don't know how much oil we have, you predict doom and gloom(I thought that was a repug stunt) without any proof and you have no alternative to oil except tax more so people don't use up whatever amount you think is in the world.
You're boring me smart guy. I'm off to watch the 2nd half. Doesn't look good for the red, white and blue...down 2-0.
Agreed with much of what you said, up until you stated this.
poor jackie doesn't know how big oil works. thats sad........for him.
poor clambake doesn't know how big oil works. thats sad........for him
That is a bit of an exaggeration. We will have SOME oil for a very long time.
It will be very very expensive though.
Read "End of Oil" by Paul Roberts. If you believe we have centuries of oil left, just stop and think about consumption. Our consumption will suck the spiggot dry in this century. But our economy wont make it that long...once the production decreases to the point that oil becomes too expensive to use like water (which we do now), our economies will collapse completely.
This is the cliff that our govt is trying to avert as we speak. but too many powerful interests just want to stay on top no matter the fate of the machine.
?So you don't know how the free market works, you don't know how much oil we have, you predict doom and gloom(I thought that was a repug stunt) without any proof and you have no alternative to oil except tax more so people don't use up whatever amount you think is in the world.
You're boring me smart guy. I'm off to watch the 2nd half. Doesn't look good for the red, white and blue...down 2-0.
It is the biggest sign of a loser in an argument that they declare victory and go home.
I do know how the free market works, you are the one who wants the government to forbid companies to sell oil to maximize profits.
I don't need to know exactly how much oil is in existence to know what is likely to happen.
Yes or no, genius, Can we increase oil production every year by 2% forever?
he doesn't live on this planet.
Read "The End of Oil" by Paul Roberts.
Here is a fun, free-market exercise.
Let's assume we spend vast amounts of money to quickly ramp up domestic production, and that indeed makes oil slighly cheaper globally, making the cost of gas fall for everybody, including China and India who both subsidize gasoline directly to some extent.
Given that their usage of oil is growing just about as fast as their economies, about 7-9%, our massive investment will simply fuel their growth. In effect, we will be subsidizing their governments.
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