SCARY read on Gas/Oil

[UserRemoved1]

"What no one, not even BP, disagrees with is that demand is surging. The rapid growth of China and India matched with the developed world's dependence on oil, mean that a lot more oil will have to come from somewhere. BP's review shows that world demand for oil has grown faster in the past five years than in the second half of the 1990s. Today we consume an average of 85 million barrels daily. According to the most conservative estimates from the International Energy Agency that figure will rise to 113 million barrels by 2030."

http://news.independent.co.uk/sci_te...cle2656034.ece

THAT is a downright scary read. If I read this right, according to VERY well established scientists we will see a major WORLDWIDE collapse of oil sometime in our lifetime...and maybe within the next few years. Even the MOST conservative estimates show WELL within our lifetimes...

[Raven]

what's worse is....that Senator Joe liberman just called for military strikes against Iran because they are essentially killing our troops by furnishing
weaponry and training jihadists. Another senator is saying the same thing.

the mosque that got blown up today for the second time undoubtably was
blown up with explosives furnished by Iran.

As soon as we do strike targets in Iran , Chavez in Venezula will dry up exports to the USA ...all the Getty stations will close.

on another front...we are in an extreme drought the likes of which we haven't seen since the 1930's . Those Super hot temperatures will produce even stronger hurricanes and we may duplicate a Katrina like storm very soon. it isn't always damages that drive up prices but speculation can do it just as fast.

they are talking about lake mead drying up ....

[fishpoopoo]

peak oil, baby.

Time to go long:

USO, currently trading at $50.09 per share.

[Bishop169]

[striperman36]

Don't forget CITGO will close too.

[hulkyj61]

ok, so it may be a few years away, but we have scientests working overtime to develop e85 flexfuel cars that run on corn and other oils, hydrogen cell cars, and more efficent solar panels.

The oil crisis will be short lived according to many experts because some believe that we are on the verge of major breakthroughs in the areas i listed above. If we can get cars that run on hydrogen, the most abundent element in the universe, and only have water as a byproduct this world will do just fine.

One other thing to keep in mind is that exxon mobil are posting record profits which means they are jacking the price of the stuff by a large margin because they know that people will pay for it. $3 gas hasnt slowed the demand, and in a free econmey they would be smart to keep raising the price if people are going to pay

[Raven]

i envision that the whole body of a CAR
should become one big solar panel and have
depth or thickness that can change color.

[Smokey14]

Originally Posted by hulkyj61

we have scientests working overtime to develop e85 flexfuel cars that run on corn

I already drive one. so where's the Damn E85 station?

Hydrogen : is a pipe dream, to expensive to produce and no infrastructure in place.
E85 : is a great idea and the gas stations can be converted with little expense. However, to grow enough corn to fuel all the cars in the US would take most if not all of our croplands and farmers leaving us with no food and very dependant on good weather and crops. (they're making progress with switch grass witch would take up less land than corn and be more drought resistant.)

I believe the answer won't come from just 1 place. the infrastrure is already in place for solar/hydro/wind power to charge hybrid cars and if those hybrids burn E-85 or Bio disel we will have fueled up cheaply, cleanly, and w/o foreign dependence.

[fishbones]

They are using scare tactics to keep gas at $3 a gallon. There is plenty of oil in the ground to last hundreds, if not thousands of years. There is an oil reserve in the U.S. that has more oil than any spot in the Middle East. They are looking into finding a company that has the technology to access the oil because it is so far down. There is plenty of oil out there, but the big oil companies couldn't justify their huge profits if everyone was aware that there is no shortage of it.