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#1
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SPECIAL: Price of oil determines supply, not the other way around
Reserves are the measure of oil recoverable at a certain price. Raise
the price, raise the reserve. Cut the price and the amount of oil in the ground drops. In other words, it's a fool's errand to measure the "amount of oil we have left." It depends on the price. At $9 a barrel (the price in 1998), we've peaked. It's over. All gone. But at $70 a barrel (reached in the third year of the Iraq occupation), miracles happen. Oil gushes forth like manna. How much more? If you are willing to pay $70 a barrel-and apparently you are-it's worth it to melt sand and drain out the petroleum. Indeed, the "tar sands" of Alberta, Canada, hold 280 billion barrels of oil-for enough high octane to run our Humvees for a century. Canada's tar oil reserves are, notably, about 15% higher than the oil reserves of Saudi Arabia. It's not pie-in-the-sky stuff. America is dependent on foreign oil-but not from Arabia. Our biggest source of oil is Canada and half of the Canadian supply today comes from tar sands. And that will grow. How could Hubbert have missed all this oil? Answer: He didn't. On page 20 of his famous "Peak Oil" study, he accepts that the planet can yield up 800 billion barrels of oil from tar sands equal to all the "crude" (i.e., liquid) oil we are using up. http://www.gregpalast.com/why-palast...ou-to-know-it/ |
#2
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SPECIAL: Price of oil determines supply, not the other way around
stakeholders don't want wind nor sun.
-- -- Shortwave transmissions in English, Francais, Nederlands, Deutsch, Suid-Afrikaans, Chinese, Dansk, Urdu, Cantonese, Greek, Spanish, Portuguese, ... http://users.fulladsl.be/spb13810/swlist/ Updated every month or so .... |
#3
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SPECIAL: Price of oil determines supply, not the other wayaround
On Tue, 15 Jul 2008 22:44:21 +0200, user wrote:
stakeholders don't want wind nor sun. -- Or especially solar: http://www.lasvegassun.com/news/2008...uilders-decry- freeze/ but with enough public pressure, they will bend: http://www.idahostatesman.com/235/story/438137.html These people are shameless. |
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