Do you believe in Oil Crisis? The world is facing Bush crisis not an oil crisis. In the middle east oil and petrol price is going down. Gasoline is only $0.17/ litter in the middle east. Not all vehicle is using oil and gasoline but they all use rubber as tire since today no one has invented a solution to recycle a rubber. I wonder why the world is not facing a rubber crisis.
its called TAX...bush needs to spend billions on bombing other countries so the money has to come from somewhere...
rubber comes from trees..... oil doesn't. find a tree that gives crude oil and the problem will be solved.
There are people out there, like Alex Jones, and Pastor Lindsey Williams, who claim that Peak Oil is non-sense, and that there is plenty of Oil, which is being hidden by Bildersberg and others. But there are independent researchers who claim that Oil Production has reached a plateau, and it would be very difficult to increase production beyond this point. The world demands ever-more oil for business, trade and transport, without which there would be a huge problems... People are talking about alternatives, but they just aren't as good as oil. We would know in a few years whether or not Peak Oil is real.
You don't get my point, What I mean is not all cars uses oil and gasoline but all of them uses rubber. Bush is surely stopping car companies to make electric car. Now Oil is the root of all evil.
Really? Its all Bush's fault. When Bush came into office the world was consuming 75 million barrels of oil a day which production capabilities of around 83 million barrels of oil. Now the world is consuming 86 million barrels of oil while producing only 85 million barrels of oil, demand exceeds supply and when that happens prices increase until things come into balance.
US is not the only country in the world. There are 200+ countries and territories in the world. You think Bush is stopping all 200 of them from developing alternative fuels? The truth is no one has discovered any fuel that can fully replace petroleum. If someone would come out with a solution, he will find 1000's of sponsors to develop his technology. Poor countries are suffering the most because of high crude prices. Give them a solution for the problem and they will give a year's GDP for it. Japan and some European auto-makers actually have better technologies than US auto-giants. If there was an easy replacement for petrol, they would have already replaced their petrol engines.
I absolutely agree with you. If there was an easy replacement for petrol, the Germans and the Japanese would have already replaced their petrol engines.
Many people already invented a solution to replace petroleum. The problem the government is not supporting them. Electric Car technology was already available since 19th Century. There are easy replacement for petrol engine no one is just selling or releasing it to public because they will be the next target of war. Bush sacrifices lot of peoples life in 9/11 just to engage a war in Afghanistan to install his oil pipeline. Gasoline is only $0.17 / litter in the Mid-east. A bottle of drinking water there is more expensive than gasoline.
Well, a barrel of oil contains 159 liters of oil, of which 45% can be converted into Gasoline. Thats about 71 litres if Gas from 1 barrel of oil, which can be extracted from the oil wells for less than 3$ a barrel. That means they are making a decent profit, even while selling gas for 0.17$ per litre. 0.17 x 71 = 12.07$ out of an investment of 3$ only. Thats a handsome 400% ROI...
I see youve done your homework... As Im living in the mid east I can tell you the the prices here are ~1.5$ /liter... But I guess its because Im not in an arab country too bad not really... nope, water here is like 0.01$ /liter
The crisis is from total world demand. Bush is an easy SCAPEgoat and I do believe the federal government could do somethig to help solve the problem.
Does this include the part of each barrel of oil that is refined into non-gasoline products? At least in America, some 30% of our oil goes into plastics and other industrial petro-chemicals. The full import cycle includes bringing oil in, refining it, and exporting some of the refined product (like plastics to China so they can manufacture them into useless trinkets and ship them back to us.) There is a lot of "inefficient use" of oil in the system that will be worked out by higher prices. IMO, "speculators" and investors are doing the world a favor by driving up that price of oil because it encourages smart consumption and brings alternatives into a more reasonable price range. If we were truly forced by cost or supply concerns we could save tons of energy just by modifying common practices. Even at $1 / liter it is cheap enough to waste a lot of it.
Well, that was just for Gasoline. Crude Oil, as we know, is used to produce a variety of stuff, including Diesel, Heating Oil, Kerosene, Jet Fuel, Tar, Asphalt, Plastics, Fertilizers, etc. Oil should be a lot more expensive than it is today. There was an interesting discussion on TheOilDrum asking "Why isn't the price of Gasoline even higher?" It is being argued that "margin for gasoline refining is dropping," and "margins for diesel and jet fuel do not seem to be rising enough to make up for the drop in the gasoline margin." Oil Refineries owned by Oil Biggies are taking losses by selling gas cheaper. Non-petroleum owned refiners cannot compete with them on wafer-thin margins. So in the future, these refiners may decide to shut shop, and there could be a massive shortage of Crude refining capacity in the US. The same problem is with Gas Stations... Lets see how it pans out. Iran discovered a new 1 Billion barrel Sweet-Crude field yesterday. How it affects oil prices remains to be seen...
Who have the power and weapons to control the price? Do you believe the Middle East has the capability manipulate oil price? Yes they the oil is in the middle east but they can't use oil as their shield or barrier as protection. A lot of people already invented car that runs without gasoline but the auto companies and all governments are not supporting them. Hybrid car technology was out since 19th century. Why are power plants are still using fuel oil to make electricity? Why not use renewable source to make electricity? The only thing impossible now is resurrecting dead people. Every problem has a solution. They only don't want to solve it.
Hello???? Have you been stuck in a timewarp somewheres? Didn't you know they can resurrect dead people now??? OMG you never heard of zombies? Night of the Living Dead, Return of the Living Dead, Dawn of the Dead to name a few.....geez. We can resurrect people but can't figure out how to solve the oil crisis. What is the world coming to?
Don't count on it. During the last few months Brazil announced discoveries of oil fields amounting about 50 Billion barrels and not a dent in prices.
I wonder why the world is focus solving the oil crisis. The truth is we can't solve the oil crisis but we can use alternative to black oil or black gold.