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Old 16-06-2012, 10:26 AM   #101
savethehumans
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Are You Prepared For $250 A Barrel Of Oil?
ya since 1997 when the media told us it was coming....scary stuff.
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Old 16-06-2012, 11:04 AM   #102
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ya since 1997 when the media told us it was coming....scary stuff.
Link? didnt think so
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Old 16-06-2012, 12:55 PM   #103
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Oil is much more likely to hit 30 dollars not 250..this is just more absurd speculation by the op...
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Old 16-06-2012, 02:24 PM   #104
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Oil is much more likely to hit 30 dollars not 250..this is just more absurd speculation by the op...
More diss-info from you. what a surprise.

Please tell me why you think oils going to $30 per barrel?

Thats right, you cant can you because your full of it.
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Old 16-06-2012, 03:20 PM   #105
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More diss-info from you. what a surprise.

Please tell me why you think oils going to $30 per barrel?

Thats right, you cant can you because your full of it.
World demand isn't their the only reason it is 85 is from speculation...talk about dis info you are a dis info agent..
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Old 16-06-2012, 04:06 PM   #106
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Guest Post: What Peak Oil?

Submitted by Tyler Durden on 06/16/2012 - 10:46 Guest Post



I’m not lying awake at night worrying about imminent peak oil. There’s plenty of extractable oil, and renewable energy will eventually supplement and replace it. But will politics get in the way of energy extraction? The United States has huge hydrocarbon reserves, yet regulation is preventing drilling and shipment, leaving America dependent on foreign oil. And the oil companies themselves are largely to blame — after Deepwater Horizon, should anyone be surprised that politicians and the public want to strangle the oil industry? If there’s an imminent energy crisis, it will be man-made. It will come out of the United States’ dependency on foreign oil. Or out of an environmental catastrophe caused by mismanagement and graft (protected cartels like the energy industry always lead to mismanagement). Or out of excessive red tape. Or war.
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Old 16-06-2012, 04:21 PM   #107
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‘Geopolitical Disruption’ Of Oil


A more protracted conflict, if it involved even a brief closure of the strait, might cause oil prices to spike by more than $60 a barrel.
“It would be the biggest geopolitical disruption in the history of the global oil market,” McNally says.



Ed Morse, global head of commodities research at Citigroup, estimates that if oil reaches $150 a barrel, the U.S. would lose 2 percentage points in economic growth, enough to turn the nascent recovery into a recession.
The dilemma for the Obama administration is that the alternatives might be even worse.



“If we don’t have this confrontation now, but we end up with a nuclear Iran, we have to factor in the consequences of dealing with a nuclear arms race in the Gulf,” says Anthony Cordesman of the Center for Strategic and International Studies. At minimum, the Pentagon would need to invest in new anti- missile technologies and maintain a sizable footprint in the region, just as it is winding down two wars there.



“It could have a major impact on the U.S.’s interest in reducing defense spending,” says Cordesman.



And because a nuclear Iran would make the Middle East and the world less stable, living with the bomb also means living with higher oil prices for an indeterminate future.



“The worst outcome for the global economy, by far,” says McNally, “would be a hostile, nuclear-armed Iran.”


http://www.bloomberg.com/news/2012-0...60-barrel.html
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Old 16-06-2012, 04:25 PM   #108
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Saudi Arabia's Prince Nayef, Next In Line To Throne, Dies; Saudi Shares Plunge

Submitted by Tyler Durden on 06/16/2012 - 07:52 Afghanistan France Greece Iran Iraq Meltdown Middle East Reuters Saudi Arabia Switzerland Turkey



Coming into the weekend, most were focusing on key events coming out of Greece and France, possibly Egypt, but nobody expected that Saudi Arabia would be thrown into the fray. That just happened, however, following news that Saudi Arabia's Crown Prince Nayef bin Abdulaziz al-Saud has died in Geneva, according to Saudi state television, citing a royal court statement. The news has sent Saudi shares sliding, because now 89-year-old King Abdullah must nominate a new heir for the second time in nine months. And the last thing the middle-east region needs, not to mention the world's biggest oil producer, needs is more geopolitical uncertainty.
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Old 17-06-2012, 04:01 AM   #109
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Originally Posted by wakeup2nwo View Post

Guest Post: What Peak Oil?

Submitted by Tyler Durden on 06/16/2012 - 10:46 Guest Post



I’m not lying awake at night worrying about imminent peak oil. There’s plenty of extractable oil, and renewable energy will eventually supplement and replace it. But will politics get in the way of energy extraction? The United States has huge hydrocarbon reserves, yet regulation is preventing drilling and shipment, leaving America dependent on foreign oil. And the oil companies themselves are largely to blame — after Deepwater Horizon, should anyone be surprised that politicians and the public want to strangle the oil industry? If there’s an imminent energy crisis, it will be man-made. It will come out of the United States’ dependency on foreign oil. Or out of an environmental catastrophe caused by mismanagement and graft (protected cartels like the energy industry always lead to mismanagement). Or out of excessive red tape. Or war.
I personally think it is possible that 'peak oil' is a complete fraud. Like Gore-bull warming
I used to travel to Texas and Oklahoma area in early 80's. This was after the Oil Embargo of 1972. Some oil people I met said "Son, don't believe a word about oil runnin out. We have enough for centuries. Oklahoma has a big one and has'nt been tapped yet" Well, true or not, I am inclined to not think the dinosaurs and ferns created all this oil, (think about that one!) I call bs on it. The shrewd Russians have done deep drilling for biogenic oil and that is their theory, not talked about so much in the west. Biogenic makes more sense too.

I believe we've been had, and that the oil fields that are being fought over in the Middle east are the most 'profitable' since they are the highest grade and easy to extract. This is imo
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Last edited by ritchs; 17-06-2012 at 04:02 AM.
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Old 17-06-2012, 10:20 AM   #110
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Photo courtesy of wrh
'BP has just released its annual Statistical Review of World Energy in which it claims that Venezuela now holds the largest proven oil reserves in the world, overtaking the original leader Saudi Arabia.

The South American nation’s oil deposits were increased from last year’s figure to an estimated at 296.5 billion barrels, more than Saudi Arabia’s 265.4 billion barrels.'



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Old 17-06-2012, 12:43 PM   #111
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I personally think it is possible that 'peak oil' is a complete fraud. Like Gore-bull warming
I think you might be right. With the Rockefeller's being the worlds oil empire it would be no surprise to me.
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Old 25-07-2012, 06:16 PM   #112
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Conventional oil production has not caught up with rising demand since 2006. Because of that, other sources, which energy-wise are more expensive, have been used to make up for the deficit.

Claims that there's lot of oil underground is true, and that refers to proven reserves. The problem is that proven reserves is not the same as what is technically recoverable, which is much smaller. That in turn is not the same as what is eventually extracted, which is smaller still. And that in turn is not the same as the extraction rate, which is even smaller and has to keep up with demand so that prices don't go up.

For example, the most optimistic forecast for North American oil production is that 6 million barrels a day (mb/d) will be added to global production for the next two decades. The bad news is that global oil demand has to go up by 1 to 2 mb/d to maintain global economic growth, and even higher given a growing global middle class.

In general, we will need the equivalent of one Saudi Arabia every five to seven years in order to maintain current global economic growth for the next two decades. But that's not possible because oil discoveries peaked in 1964, at least 80 pct of the oil that we now use come from fields discovered before 1980, and in terms of oil production per capita, our situation is even worse, as that peaked back in 1979.

Meanwhile, oil production cost has now gone up to $80 or even more. That means if oil price drops to that amount or lower because of economic crises, then oil production will drop (and it will be very difficult to put production online once more). Worse, given the same economic crises, unemployment will go up and earnings will go down, which means oil at a lower price will still be expensive.
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