Peak Oil

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JohnD

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Does anyone remember when scaremongers like Joe-90 told us that the world was running out of oil, we had passed the peak of production, and the price would go on rising for decades?

Price of production from US shale farms is now about $36 BOE, way below the $100 some countries need to stay afloat.

Mr Putin's hubris has left his nation in economic collapse. He tried to threaten Europe that he would sell his oil to China and leave us begging.

Not that I approve of growing and wasteful use of fossil fuels.

http://www.investorschronicle.co.uk...B61053E3F806F80F442401AF3D115.mps-apr-01-8104
 
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I look forward to the day when we shall no longer be reliant on oil. Countries like Saudi Arabia (at present threatening to flog an old British man for making wine - when their own princes come over here to drink the stuff) which our glorious leaders dare not challenge, will then have lost all their bargaining powers, and a good thing too. We could then pull out of the Middle East completely and leave its inhabitants to kill each other without our interference.

Nuclear power to generate electricity, hydrogen power cells and the like could, with the right sort of funding and application, cover all of our energy needs.
 
JBR said:
Countries like Saudi Arabia (at present threatening to flog an old British man for making wine - when their own princes come over here to drink the stuff)
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Heard today that it is common for Saudis to just go to UAE for a booze up.
The hypocrisy is outstanding.

Wouldn't it be great to leave them with no income?
 
Follow the laws of the country YOU ARE IN.
So if you go another country for a drink/drugs/sex etc & its lawful SO WHAT.
I am not saying I agree with what I have entered, but its about what's lawful.
 
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Saudi Arabia is going bust because of the low price of oil.
Unless the there an upsurge in the global demand for sand they will soon be back to living in tents and riding around on camels.
 
Industry opinion is that Saud has been trying to flood the market with cheap oil to drive other novel producers (such as shale) into bankruptcy, after which they can winch the price up again.

I rather doubt it will work this time. US is now the world's largest producer, and may become the largest exporter as well.
 
Due to the devolopment of their shale oil resource America could become a net exporter of oil.
If they have no longer to depend on foreign sources of oil why are they still so interested in the middle east,is it because of Israel or is it to control the flow of oil in order to make other countries bend to there will,or could it be both of the above.
 
I'm sure the US will lose interest in other countries' oil when they have plenty of their own. It is said that future wars will be for other countries' water.

I notice that the US has found vast quantities of shale oil, and are developing the technology. I don't see any reason why vast amounts of shale oil could found only be under the US though. Maybe it will be like deep water drilling has been used around the world since it grew out of the North sea.
 
vinty said:
Due to the devolopment of their shale oil resource America could become a net exporter of oil.
If they have no longer to depend on foreign sources of oil why are they still so interested in the middle east,is it because of Israel or is it to control the flow of oil in order to make other countries bend to there will,or could it be both of the above.
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I think perhaps that they've enjoyed being the world's policeman for so long they're used to it and are finding it difficult to stop poking their noses in everyone else's business.
 
When we were at a party in Riyadh, where alcohol was flowing freely, and that was raided (fortunately just after we had left) everyone present was immediately sent home. No questions.

However, no-one was flogged - and everyone there was far younger than this unfortunate man.
I think this is a far more reasonable reaction.

I would further ask, if this old man is to be flogged for possessing some wine, do they also intend to flog all the princes and other 'VIPs' who have gone abroad to drink alcohol in contravention of their religious beliefs?
 
When I heard it was in his car, I wondered if he was a supplier or trader.

I can't help thinking, though, that if you don't approve of unjust laws and barbaric punishments, you don't go and live in Saudi Arabia.
 
JohnD said:
that if you don't approve of unjust laws and barbaric punishments, you don't go and live in Saudi Arabia.
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I wholeheartedly agree with that and you'll never catch me there.

However, if you had gone there and your wife was raped, would you accept that she should be punished?

Should we not complain about Mugabe and his like?
 
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