[LMB] "Civilization isn't just electricity."
Mandos Mitchinson
mandos at allowed.to
Thu Feb 7 17:38:57 GMT 2008
> That cheap oil running out is a crisis is an ILLUSION created
> by people who make their money by buying and selling this
> commodity. I personally won't cry if the futures market in
> petroleum collapses and some wall street traders have to find
> something else to suck the blood out of to make obscene
> amounts of money.
Most of what you said I agree with but not this bit. People often forget the
US was the leading producer of Oil worldwide until it's wells ran dry,
something people said would never happen. They hit the peak around 1970 and
now in the southern states there are thousands of rusting oil wells from
fields that have run dry.
It has also been noted that many countries have been overinflating their
reserves as there is some kind of ruling by OPEC I think that dictates how
much you can produce based on your reserves, so lots of countires inflate
the reserves to produce more barrels per day.
Add to that the fact that Canada is producing oil from the Oil Sands. It may
now be economically viable thanks to tech improvements and the price of oil
but they still wouldn't be bothering with it if Oil were still abundant and
easy to get hold of.
Mandos
/s
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