Oiling Economies

Discussion in 'Energy' started by Samson, Sep 26, 2010.

  1. Samson
    Offline

    Samson Póg Mo Thóin Supporting Member

    Joined:
    Dec 3, 2009
    Messages:
    27,357
    Thanks Received:
    3,742
    Trophy Points:
    245
    Location:
    A Higher Plain
    Ratings:
    +4,210
    The 12 Fastest Growing Economies in 2010**


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

    **credit USMB member Meister for finding the article**
     
    Last edited: Sep 26, 2010
  2. Mr. H.
    Online

    Mr. H. Diamond Member

    Joined:
    Aug 19, 2009
    Messages:
    44,120
    Thanks Received:
    9,265
    Trophy Points:
    2,030
    Location:
    A warm place with no memory.
    Ratings:
    +15,395
    Oil is ok
     
    • Thank You! Thank You! x 1
  3. Baruch Menachem
    Offline

    Baruch Menachem '

    Joined:
    Sep 12, 2008
    Messages:
    14,204
    Thanks Received:
    3,235
    Trophy Points:
    185
    Ratings:
    +3,305
    Building your economy exclusively on resource extraction is a recipe for disaster though
     
    • Thank You! Thank You! x 2
  4. Samson
    Offline

    Samson Póg Mo Thóin Supporting Member

    Joined:
    Dec 3, 2009
    Messages:
    27,357
    Thanks Received:
    3,742
    Trophy Points:
    245
    Location:
    A Higher Plain
    Ratings:
    +4,210
    Yes, but you gotta start somewhere.

    Once Qatar has built enough Camal Jerky processing facilities, you'll see economic diversification.
     
  5. Mr. H.
    Online

    Mr. H. Diamond Member

    Joined:
    Aug 19, 2009
    Messages:
    44,120
    Thanks Received:
    9,265
    Trophy Points:
    2,030
    Location:
    A warm place with no memory.
    Ratings:
    +15,395
    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!
     
  6. JiggsCasey
    Offline

    JiggsCasey VIP Member

    Joined:
    Jan 12, 2010
    Messages:
    991
    Thanks Received:
    120
    Trophy Points:
    78
    Ratings:
    +128
    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: Sep 27, 2010
  7. Mr. H.
    Online

    Mr. H. Diamond Member

    Joined:
    Aug 19, 2009
    Messages:
    44,120
    Thanks Received:
    9,265
    Trophy Points:
    2,030
    Location:
    A warm place with no memory.
    Ratings:
    +15,395
  8. JiggsCasey
    Offline

    JiggsCasey VIP Member

    Joined:
    Jan 12, 2010
    Messages:
    991
    Thanks Received:
    120
    Trophy Points:
    78
    Ratings:
    +128
    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:

    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: Sep 27, 2010
  9. Samson
    Offline

    Samson Póg Mo Thóin Supporting Member

    Joined:
    Dec 3, 2009
    Messages:
    27,357
    Thanks Received:
    3,742
    Trophy Points:
    245
    Location:
    A Higher Plain
    Ratings:
    +4,210
    Then how about you babble away about your idiotic peak oil theory that you're repeated again and again since 1973:

     
    Last edited: Sep 27, 2010
  10. Samson
    Offline

    Samson Póg Mo Thóin Supporting Member

    Joined:
    Dec 3, 2009
    Messages:
    27,357
    Thanks Received:
    3,742
    Trophy Points:
    245
    Location:
    A Higher Plain
    Ratings:
    +4,210
    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.
     

Share This Page