Much of the alarmist rhetoric concerning oil depletion can surely claim many differing agenda’s. For example, someone who writes a book about it intended for the popular market (i.e. Matthew Simmons, Twilight In the Desert: The Coming Saudi Oil Shock and the World Economy) most likely has a craving for fame, wealth, status, cock or pussy.
Others may simply wish for another bubble.
“When we talk about reserves, we are talking about oil in the ground. The concepts about reserves are metaphysical concepts. They have never been accurate, and they never will be.”
Stimulus checks arrived just in time to fill up all those SUV’s, no?
That said, of course there is a finite supply of crude oil. But it’s anybody’s guess as to how much or little there is that can be tapped. My guess is I won’t see this in my lifetime (yes, even if I were 21).
It’s expensive right now, sure. Why? Ask Ben Bukkake. Ask a pigman.
Will the price ever come down again? Most likely.
But I’m hoping it stays on the high side so we learn, finally, that we need to conserve and stop wasting such a valuable commodity- and perhaps, finally, keep from getting jerked around and robbed of our hard-earned.
Read the interview with Robert Mabro (excerpt), a world recognized expert on oil and gas and founder and current honorary president of the Oxford Institute of Energy Studies who has some enlightening things to say about oil.
“Mabro: Some other people would say that oil, along with wheat and some metals, remains more attractive than other investments in the financial markets. And we know that the people who lead these markets are financial institutions, the banks and the hedge funds. They are the leaders. So the paradox is that, consciously or unconsciously, the determination of the oil price has gone away from the producers to the financial sector. It went away from the oil people to the non-oil people.”
HELLO! Did he just allude to a bubble?
[Source]
–
“Remember when Enron took power generators offline and claimed there was a shortage? And then hiked (“extorted”) the price of electricity to the citizens of the state of California because the governor had someone’s thumb up his ass and did not realize he was being scammed? Well, the same thing is happening with oil. It’s been pointed out that longtime producers have slowed production- to hint that this means they are running low on reserves, to scare us into gratefully paying near $5 for a gallon of petrol. But in reality it is a red herring, and someone well-placed with lots of financial girth can take advantage to drive the price up and then profit- to help offset their other losses from another sector. But just take a look around you, do you see any signs there is a shortage? There are no gas lines, and everybody seems to have all the oil and gas they need. Does anyone in the mainstream media bother to ask why this is?” -Paco Bell
