Oiling Economies

Samson

Póg Mo Thóin
Dec 3, 2009
27,332
4,237
245
A Higher Plain
The 12 Fastest Growing Economies in 2010**

Country Growth Rate
1. Qatar 16.4%
2. Botswana 14.4%
3. Azerbaijan 12.3%
4. Republic of Congo 11.9%
5. Angola 9.3%
6. East Timor 7.87%
7. Liberia 7.53%
8. China 7.51%
9. Afghanistan 7.01%
10. Uzbekistan 7.00%
11. Turkmenistan 6.96%
12. Iraq 6.69%

Source: GDP Growth Forecast 2010, EconomyWatch.com Economic Statistics Database


And what is the #1 reason....?

The insatiable demand for energy. That has been the big story for much of this decade. A higher standard of living, cheaper international travel, and the proliferation of electronic gadgets in the western world leads to ever higher per-person energy consumption in advanced economies. As massive countries like China, India and Indonesia grow, their citizens become richer and aspire to the same lifestyle, leading to ever greater energy needs. Countries like Qatar, with the world's largest natural gas reserves, and Azerbaijan with its vast oil fields, have boomed as a result.

**credit USMB member Meister for finding the article**
 
Last edited:
Energy has always fueled economic growth. Conventional energy sources come from resource extraction. What could be simpler?

Yes, the U.S. uses 25% of the world's oil supply but it also contributes 25% of the world's GDP.

CLASS DISMISSED!
 
what is new here? this is a 'no-shit, Sherlock' thread if there ever was one.

what you've essentially done is admitted at least one half of the peak oil equation is quite true. Because it is BOTH a supply AND a demand problem, pulling at both ends of a rubber band ready to snap. Supply is dying, demand is skyrocketing.

Exponentially growing demand only depletes known (dying) capacity that much faster. Mankind is currently using 3-5 barrels of oil for every 1 that it finds, and this has been the case for over 10 years. This can not, and will not continue. Period.

So, great. These poor countries will be/are enjoying a very brief uptick in growth (from a point near zero, mind you), as they feed off a slight and temporary glut in capacity due to desperate new drilling methods. But it won't last past 10 years. Just like growth is over by 2020 for ALL industrial nations. It's power down time, whether people wish to accept it and transition relatively smoothly, or suffer the consequences of denying it all the way to the end.

I'll ask the forum for the 24th time a question that no one seems able or willing to answer:

Where is the oil then, going forward? Exxon, Chevron, Shell, BP, Total and all the others would love to hear from you. (and no, tar sands and shale don't count in this equation)... Total up what you think you have, and then apply that new "discovery" to our 86 million barrel per day appetite. Where is the oil in such abundance that there's "nothing to see here!!" as you guys so arrogantly insist over and over again? Where is it?

Because federal and international entities like the IEA, the Dept. of Energy, the Pentagon, the EIA, Lloyds, ASPO, and Oxford Univ. have all concluded otherwise, and know the game is up within the next 10 years. Tell us all how you're smarter than them.
 
Last edited:
JC - subscribe to RIGZONE - Your Gateway to the Oil & Gas Industry. I signed up a year ago this month and have nearly 300 emailed newsletters, almost every one of them announces a new discovery somewhere in the world.

I'm aware that there ARE discoveries. But not remotely close to the rate and volume of discoveries of the 1960s and earlier.

- how big are these individual finds?
- are they "proven" or "technically recoverable" or "estimated" reserve totals?

Read what I wrote above:

Total up what you think you have, and then apply that new "discovery" to our 86 million barrel per day appetite. Where is the oil in such abundance that there's "nothing to see here!!" as you guys so arrogantly insist over and over again? Where is it?

if Rigzone emails you about a find off the coast of Morocco that has 100,000 proven barrels, are you willing to spend the tens of millions it costs in order to drill for 2.4 hours of energy?
 
Last edited:
what is new here? this is a 'no-shit, Sherlock' thread if there ever was one.

Then how about you babble away about your idiotic peak oil theory that you're repeated again and again since 1973:

what you've essentially done is admitted at least one half of the peak oil equation is quite true. Because it is BOTH a supply AND a demand problem, pulling at both ends of a rubber band ready to snap. Supply is dying, demand is skyrocketing.

Exponentially growing demand only depletes known (dying) capacity that much faster. Mankind is currently using 3-5 barrels of oil for every 1 that it finds, and this has been the case for over 10 years. This can not, and will not continue. Period.

So, great. These poor countries will be/are enjoying a very brief uptick in growth (from a point near zero, mind you), as they feed off a slight and temporary glut in capacity due to desperate new drilling methods. But it won't last past 10 years. Just like growth is over by 2020 for ALL industrial nations. It's power down time, whether people wish to accept it and transition relatively smoothly, or suffer the consequences of denying it all the way to the end.

I'll ask the forum for the 24th time a question that no one seems able or willing to answer:

Where is the oil then, going forward? Exxon, Chevron, Shell, BP, Total and all the others would love to hear from you. (and no, tar sands and shale don't count in this equation)... Total up what you think you have, and then apply that new "discovery" to our 86 million barrel per day appetite. Where is the oil in such abundance that there's "nothing to see here!!" as you guys so arrogantly insist over and over again? Where is it?

Because federal and international entities like the IEA, the Dept. of Energy, the Pentagon, the EIA, Lloyds, ASPO, and Oxford Univ. have all concluded otherwise, and know the game is up within the next 10 years. Tell us all how you're smarter than them.
 
Last edited:
JC - subscribe to RIGZONE - Your Gateway to the Oil & Gas Industry. I signed up a year ago this month and have nearly 300 emailed newsletters, almost every one of them announces a new discovery somewhere in the world.

Its no use.

RIGZONE has been annoucing hundreds of new discoveries every year since 1973, and the wild-eyed "peak oil" fanatics won't let go of their mantra that ANY DAY NOW their predictions will materialize.
 
JC - subscribe to RIGZONE - Your Gateway to the Oil & Gas Industry. I signed up a year ago this month and have nearly 300 emailed newsletters, almost every one of them announces a new discovery somewhere in the world.

it still is not enough to quench the appetite...and harder and harder to extract.

oil prices are going to be price prohibitive...through the roof, in what's left of my lifetime....due to the expense of getting to it....the 'easy oil' , is on it's way out....unless some miracle happens....at least, that is what i have been reading?
 
JC - subscribe to RIGZONE - Your Gateway to the Oil & Gas Industry. I signed up a year ago this month and have nearly 300 emailed newsletters, almost every one of them announces a new discovery somewhere in the world.

Its no use.

RIGZONE has been annoucing hundreds of new discoveries every year since 1973, and the wild-eyed "peak oil" fanatics won't let go of their mantra that ANY DAY NOW their predictions will materialize.

if that were true then oil prices should NEVER have skyrocketed as they did....

or is this all a shell game oil companies are portraying so that they can raise their prices and the 'market' is just a sham?
 
JC - subscribe to RIGZONE - Your Gateway to the Oil & Gas Industry. I signed up a year ago this month and have nearly 300 emailed newsletters, almost every one of them announces a new discovery somewhere in the world.

it still is not enough to quench the appetite...and harder and harder to extract.

oil prices are going to be price prohibitive...through the roof, in what's left of my lifetime....due to the expense of getting to it....the 'easy oil' , is on it's way out....unless some miracle happens....at least, that is what i have been reading?

No one believes it will get easier to find/extract.

But the Peak Oil crowd believes that we'll wake up one day, and it will all disappear.

They've thought this for the last 35 years......:rolleyes:
 
JC - subscribe to RIGZONE - Your Gateway to the Oil & Gas Industry. I signed up a year ago this month and have nearly 300 emailed newsletters, almost every one of them announces a new discovery somewhere in the world.

Its no use.

RIGZONE has been annoucing hundreds of new discoveries every year since 1973, and the wild-eyed "peak oil" fanatics won't let go of their mantra that ANY DAY NOW their predictions will materialize.

if that were true then oil prices should NEVER have skyrocketed as they did....

or is this all a shell game oil companies are portraying so that they can raise their prices and the 'market' is just a sham?

The Oil market in 1973 was controlled by the OPEC Oil Cartel, and to a large degree, the price of oil continues to be OPEC controlled. Basically, they're market strategy is to get as much as they can for oil, without raising the price to the degree that substitutes are an attractive alternative (not all that unusual).
 
Its no use.

RIGZONE has been annoucing hundreds of new discoveries every year since 1973, and the wild-eyed "peak oil" fanatics won't let go of their mantra that ANY DAY NOW their predictions will materialize.

if that were true then oil prices should NEVER have skyrocketed as they did....

or is this all a shell game oil companies are portraying so that they can raise their prices and the 'market' is just a sham?

The Oil market in 1973 was controlled by the OPEC Oil Cartel, and to a large degree, the price of oil continues to be OPEC controlled. Basically, they're market strategy is to get as much as they can for oil, without raising the price to the degree that substitutes are an attractive alternative (not all that unusual).

We had oil as low as $10 a barrel for a bit under the clinton administration.

How can it go from THAT to nearly $100 bucks a barrel a few years ago?

someone is playing games with us, that seems certain.
 
if that were true then oil prices should NEVER have skyrocketed as they did....

or is this all a shell game oil companies are portraying so that they can raise their prices and the 'market' is just a sham?

The Oil market in 1973 was controlled by the OPEC Oil Cartel, and to a large degree, the price of oil continues to be OPEC controlled. Basically, they're market strategy is to get as much as they can for oil, without raising the price to the degree that substitutes are an attractive alternative (not all that unusual).

We had oil as low as $10 a barrel for a bit under the clinton administration.

How can it go from THAT to nearly $100 bucks a barrel a few years ago?

someone is playing games with us, that seems certain.

:eusa_angel:

You realise the Clinton Adminisitration ended in 2000.

Almost 11 years ago........we're getting old, Care. Everything costs more these days!!
 
The Oil market in 1973 was controlled by the OPEC Oil Cartel, and to a large degree, the price of oil continues to be OPEC controlled. Basically, they're market strategy is to get as much as they can for oil, without raising the price to the degree that substitutes are an attractive alternative (not all that unusual).

We had oil as low as $10 a barrel for a bit under the clinton administration.

How can it go from THAT to nearly $100 bucks a barrel a few years ago?

someone is playing games with us, that seems certain.

:eusa_angel:

You realise the Clinton Adminisitration ended in 2000.

Almost 11 years ago........we're getting old, Care. Everything costs more these days!!

Please show me, anything at all that had gone up 900% in price in less than 10 years.. think it was 10 years or there abouts.

something is fishy....unless of course, we really are using up and running out of easily accessible oil...but even if true, the hikes in prices a couple of years ago, seems like manipulation to me.
 
JC - subscribe to RIGZONE - Your Gateway to the Oil & Gas Industry. I signed up a year ago this month and have nearly 300 emailed newsletters, almost every one of them announces a new discovery somewhere in the world.

I'm aware that there ARE discoveries. But not remotely close to the rate and volume of discoveries of the 1960s and earlier.

- how big are these individual finds?
- are they "proven" or "technically recoverable" or "estimated" reserve totals?

Read what I wrote above:

Total up what you think you have, and then apply that new "discovery" to our 86 million barrel per day appetite. Where is the oil in such abundance that there's "nothing to see here!!" as you guys so arrogantly insist over and over again? Where is it?

if Rigzone emails you about a find off the coast of Morocco that has 100,000 proven barrels, are you willing to spend the tens of millions it costs in order to drill for 2.4 hours of energy?

No, this isn't the 60's but the industry has continually kept up with world demand. Sure oil is more challenging to find and produce but the technology has advanced far in the last 40 years. As to your questions re: recent finds I suppose the details are out there.

Where's the oil? It's where you find it. :D

Companies make decisions regarding return on investment based on a discovery's potential. I'm not current on the science involved, but yes if a project is going to cost tens of millions of dollars than rest assured they have reason to plunk the money down.

And what's with the "2.4 hours of energy"? I never understood that analogy. As in "why develop ANWR- it's only 6 months worth of consumption". LOL
 
No one believes it will get easier to find/extract.

But the Peak Oil crowd believes that we'll wake up one day, and it will all disappear.

No they don't believe that at all. And I don't know anyone who believes this, as you've written it. This is, without a doubt, proof positive that you A) have no idea what you're talking about, and B) are too lazy and dumb to actually absorb what you're being told.

NO ONE said we'd "wake up one day and it will all disappear." You would know this is you were at all paying any attention.

What we've/I've ALWAYS said is that it's a slow drawdown into collapse, as the price point becomes too high and crushes demand. That, in turn, leads to deeper and deeper recession, and inevitably depression and/or war. 2010 is far worse than 2005, which was worse than 2000. Going forward, 2015 will be far worse than we're facing today, and so forth into the terminal decline of existing capacity.

There will always be oil in the ground. It's a matter of at what point it becomes too expensive to get to it.

Pay attention, and make some semblance of an effort to avoid the constant straw man. You've really looked foolish the past few months here in the energy forum, so you'd think you'd learn... But nope, more dumb, arrogant pablum.

They've thought this for the last 35 years......:rolleyes:

35 years ago, they were right... about U.S. capacity and production rates... We've been in terminal decline ever since.

They're also correct today about global production and capacity.

If you'd remove your head from your rectum and actually read the Club of Rome's report "Limits to Growth" that spawned all this talk in the 70s (rather than taking your spoonfed talking point distortions from Breitbart and friends), you'd be aware that they never said it was running out, globally, that decade, nor even in the 80s.

do yourself a favor and sit the next few plays out.

:eusa_shhh:...
 
Last edited:
I think Peak Oil had a lot to do with the 900% run up in price. God Bless Mathew!!
But the auther who penned it years ago has passed and Billions of new barrells are being discovered every month. (shh don't let that get out)
$77 oil is way too cheap, It's gone down 50% under Obama. WTF get me a republican. LOL
 

Forum List

Back
Top