Why did it take Bush 8 years to say this?

I guess you are right, by the time you do something and migrate to something else, the oil will finish

Ive heard the future is going to be with Hydrogen, theres plenty of it in space, althought Im not sure if it has the same output as oil, etc.

 

The Japanese have managed to decrease oil usage by 10% and countries like France produce 90% of their electricity with nuclear enegry. The US has not built a new nuclear power plant since 1979.

 

If people want oil, they should buy oil. Period. The market price will reflect supply and demand. When price becomes so great an issue that competition is viable for another energy source, the market will adapt.

I don't care where the oil comes from quite frankly. I don't care if we use oil!

The very government (whose teat seems to be the mouth candy of the many statists around here) that everyone proposes make some sort of change, is one of the largest group/government/country users of oil in the world. Does no one see the irony that consumers should be limited in their market choices, but the government (based on DP rationale) should continue to use oil, unchecked to both sponsor and combat terror simultaneously?

I'm going to say this yet again, very slowly for the people who may be struggling with it.

The price of oil vs. gold is virtually unchanged since pre-9/11. If the rationale is that there is an increase in demand, or a scarcity of supply for oil which has driven prices up, then a similar paradigm must exist for gold during the same period. It's possible, but not very likely (unless someone can present a compelling case on behalf of gold prices).

What this means, is that oil is not more expensive, it's your fiat dollars, and the fiat dollars of Canada, the UK, Australia, and the Euro (etc. etc.) that are also losing value. It's just that the American dollars are losing value faster.

I liken the obsession with oil prices to the obsession with pork spending, or global warming. It's a crisis of ignorance more often than not.

BTW, does anyone know the all-time high in oil, adjusted for inflation? I believe it is around $103 (2007 currency) and was set between '71 and '80.

Puts today's oil price in context, doesn't it?

I love free market Mia a lot. I'm with you.

Please see the above on the $100 cost.

Investment from whom? If you think there is a market for alternative energy, then it's time to get entrepreneurial! Check out international auto shows. Lots of hybrid and electric cars. We had electric cars in Cali years ago, but it was killed by big oil, government and stupid consumers.

Lower demand will lower prices. We need higher prices to give the free market the incentive to bear the R&D costs of alternatives.

 

The US government should increase tax credits on oil energy alternatives, and significantly create inducements to dramatically increase energy alternatives.

Any existing inducements to the oil industry should be eliminated. If the industry isn't using the enormous profits of the last few years to increase drilling, increase refinery production...than what is it doing?

 

Hydrogen has much potential, but to pull it from space could lead to a major imbalance and create a huge issue(s).

Hydrogen is combined with oxygen to produce electricity - fuel cells.
Hydrogen is burned with oxygen - internal combustion.

Both create water and if you brought hydrogen in from space you would be adding more water to the earth and water vapor is a major contributing factor in global warming is it not? Also the imbalance of oxygen used from the earths atmosphere depleting the oxygen levels. hmmm that could get interesting.

Besides, there is plenty of hydrogen already here, but would have to be separated to use for one of the above two systems.

 

It's not as simple as that. people want oil but they want someone else to pay for it or the roads and airports required.

 

The big problem with hydrogen is that it takes more energy to extract it than can be gained from it.

In turn, you create more pollution and use more fossil fuels in an effort to reduce the use of those fuels and pollution they cause. Hydrogen, unfortunately is just not practical in any capacity other than outer space where you can make limitless supplies of water with it.

Nuclear energy (seriously) is what we should be looking at when it comes to vehicles. Assuming a safe delivery system, and containment system, as well as disposal system can be found, cars could run for hundreds of years on a single charge.

 

Because the family made so much money selling it.

 

It's not good for the environment but the US is the 'Saudi Arabia' of coal and we have 500 years worth. We have the nazi technology to turn coal into oil. We also have a lot of oil shale but it is still to costly to extract.

Anthoner source of oil is the Canadian tar sands. The extraction cost is around 20 per barrel but there is more oil in the tar sands than in Saudi Arabia.

 

It is time to kick some environmental extremists to the curb and get our oil from our own land and stop sending money to mo's buds who are bent on killing us.

(the ones who are bent on killing us.)

 

True, we also have the largest supply of natural gas. I figure (from what I have read), most of the middle east probably has about 4-5 years of oil left. That is one of the reasons for the higher price. They know they need to make their money now.

Once it is gone... watch out!

As to the shale and sand, ATM, it is actually now cost effective to refine from those areas, given the costs of straight crude is so high right now.

Agreed! The real way to win the war on terror is stop supporting terrorists by visiting the pumps.

We've got a lot of oil here, we just cannot seem to tap it. We could be building nukes, but for some reason people just don't want them... There are so many simple solutions, if only we could find the gene that causes the genetic mutation that creates little environmentalists and terrorists, we might have a chance!

 

Which is the case I am making for alternatives. As the price of oil goes up, the R&D costs of new and alternative sources will be affordable to entrepreneurs.

Right now, oil is still too accessible, too easy and too cheap. And consumers will buy goods from Satan if they are priced right. Everyone wants a bargain.

 

And, while everyone is bitching and moaning in the US about the cost of gas, it is still cheaper than it is in Europe... Gas in the US has historically always been cheap, and even by todays standards, is cheap as it was in the past, here and overseas.

I'm not upset about the price. I've stated several times I would gladly pay $10 a gallon or MORE! What I am upset about is paying high prices to terrorists that take that money and blow shit up.

I was not put on this earth to make sand dwellers rich.... That is not my purpose, nor should it be the purpose of any respectable human being.

If that money was actually staying here, going to hard working Americans, great, but most of it leaves here, and finds its way into a vest strapped to a 5 year old in a crowd of innocents.

A good portion of it goes to tax revenue for an infrastructure in the US that consists of failed or failing bridges and shitty roads.

Seems to me, the state governments are just as bad as the terrorists when it comes to the extortion of money for fuel.

 

The real problem it seems to me, is that people are f**king dumb.

The problem is only terror sponsoring oil when stupid people care more about saving money than sponsoring terrorism.

Like all of the people who complain about offshoring of labor and the loss of the manufacturing base, then they line up at Walmart to buy cheap Asian goods.

We can't have it both ways, and most people are too self-interested to make the moral decision.

 

Yes, people are dumb... I almost added to my post previously that I find it ironic how the same people that will bitch about a company moving their manufacturing plant overseas will gladly buy foreign oil for their crappy SUV...

Of course I blame labour unions for this line of ignorant thought... If only we could find the gene that causes this type of behavior.

 

It is very common mistake when some people think that everyone is like them.

 

Don't you have anything better to do than follow people around and harass them? Isn't that what got you banned for the last 3 + months???

Go away..

 

Surprisingly, you are the 2nd largest gas producer in the world:

http://en.wikipedia.org/wiki/List_of_countries_by_natural_gas_production

Interesting, so its your own companies, who set the prices.

And for the proved reserves you aint on top:

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2179rank.html

Iran is a delicious peace of territory, isnt it?

 

The proof for second quote is in the first quote.

Don't you think if the oil was going to run out in 4-5 years, USA wouldn't try to get the control over Iraq oil for the next 20 years and build bases there?

 

I'm not talking about natural gas... And yes, we have some of the largest reserves in the world. Nat Gas is rather in expensive here by comparison to other refined fuels.

Again, I'm not sure we are talking about the same things here.. I think you might want to read the entire thread so you can get on the same page. I'll give you credit though, unlike Gworld, you are trying...