Why are Gas Prices High and Oil at $90 a Barrel? One Answer Is Here.
02-05-2008, 04:21 PM
#51
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If we had roads like the Pacific Coast Highway in Texas our taxes would be a lot higher. And ya know what? I'd gladly pay-em!
Add this to the twist;
The largest single consumer of Prudhoe Bay oil is the shipping industry out of Long Beach.
02-05-2008, 05:18 PM
#52
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California pays out the *** for gasoline because we tax it out the ***. We also require more emissions friendly formulated gasoline, further adding to costs.
Nothing to do with peak oil or OPEC or Iran, or the flying spaghetti monster.
Nothing to do with peak oil or OPEC or Iran, or the flying spaghetti monster.
02-05-2008, 05:26 PM
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I remember something about older small inefficient refineries being shutdown a few years ago. I don't think it was half. I heard there are 2 reasons why more aren't being built. EPA regulations and it takes a butt load of money to build new ones. Anyone that built a new refinery would want to make sure that they got a return on investment.
Through the 70's EPA ramped new clean requirements at about the same time the oil companies were getting pinched. The entire business was very volatile. Many of the low cost US wells were running dry which hit the lower end domestic based oil companies pretty hard and many sold out. A few of the survivors included Texaco and Phillips, while other survivors like Sinclair simply closed down a lot of gas stations. That was followed by an epidemic of buyouts and mergers. Big winners were Exxon, BP and Shell. Probably the last small time operator is Fina but they are an international company.
Mergers and acquisitions were far more successful in getting pipeline rights of way from port cities and across major expanses between metro areas. That shaped the landscape for where refineries were most cost effectively located.
By the late 80's anyone without the pipeline right of way to server their production and market needs could no longer maintain a competitive refinery operation. Mergers and acquistions continued. (Remember Standard Oil?).
By the mid 90's refineries required major investment to meet EPA standards. The big boys could keep up, and they did. Its not so much the number of refineries, but what the refinery capacity is. Rather then build more refineries, the big boys simply expansed existing refinery operations. Profit has a way with shaping production logistics.
No doubt anyone wanting to build a new refinery has a couple of Detroit phone book sized regulations to sift through. That is to be expected, after all if you've ever been to a refinery, it's not exactly beer they are brewing.
The real issue is that the refineries are no longer in a cost competitive business environment. Its not yet near the edge of anti-trust at least as we know it, but then again niether was the telephone system in 1983.
I believe we need to divest the refinery operations to make them competitive as a functional free market system.
02-05-2008, 05:45 PM
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so the reason why gas in las vegas is 1/3 more exensive than lets say, oklahoma is all because of taxation.....i belive we have an oil refinery in the Las Vegas valley, or just outside of it. It is obviously not because of distribution of the gas. i previously mentioned that it may because of the higher population here in vegas, if this is in fact the reason, you would think that it would be cheaper if there are more people to purchase the product...to make it more appealing, then make it more expensive in less crowded areas. does this make sence?
02-05-2008, 06:01 PM
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What I'm saying is there is little scientific support, even among the scientists themselves, that petroleum comes from fossils. Apparently, so the story goes, it was just an infant idea among many a long time ago and for some expedient reason the politicians took off with it. Politicians chose this idea to push because it served their purpose at the time, but I do not remember what that purpose was, as I am only interested in the science, not the politics. Over the years, the new generations just accepted it as fact, as we do with so many things that get passed on through the generations.
So you can laugh at conspiracy theorists because it's a catchy phrase that is easy to attack (like "psycho babble" or "liberals"). But I am only interested in the historical facts and the human interactions within the scientific process.
What the scientific community is now talking about is that there was never any strong evidence or scientific community support for the idea that petroleum comes from fossils. Some scientists think petroleum may have existed at the formation of the earth or much earlier than the first life forms. And no one is suggesting it is renewable in a practical sense, but that may only depend on some new technology that has yet to be invented.
So I asked that question originally to find out if you are just a reader, a dabbler. Or are you able to sift through what you read and evaluate, investigate, and synthesize, rather than just regurgitate. It's all about the science and your ability to think scientifically whether or not you were a science major. All these Harvard Law graduates think they're logical and analytical geniuses but they cringe the moment someone talks about math or genetics. Much of Congress is made up of these people and they just can't understand any of the science, it's pathetic.
There is collusion with regard to gasoline prices. Period. Now let's get these presidential candidates- every one of them- to answer questions on what they are going to do about it. Not a single newspaper or tv show or debate has talked about the gas price issue. This is no coincidence. The people who own newspapers and tv/cable stations are some of the people who orchestrate the direction the world turns. We citizens need to get this issue on the table NOW before the ridiculous elections are over.
So you can laugh at conspiracy theorists because it's a catchy phrase that is easy to attack (like "psycho babble" or "liberals"). But I am only interested in the historical facts and the human interactions within the scientific process.
What the scientific community is now talking about is that there was never any strong evidence or scientific community support for the idea that petroleum comes from fossils. Some scientists think petroleum may have existed at the formation of the earth or much earlier than the first life forms. And no one is suggesting it is renewable in a practical sense, but that may only depend on some new technology that has yet to be invented.
So I asked that question originally to find out if you are just a reader, a dabbler. Or are you able to sift through what you read and evaluate, investigate, and synthesize, rather than just regurgitate. It's all about the science and your ability to think scientifically whether or not you were a science major. All these Harvard Law graduates think they're logical and analytical geniuses but they cringe the moment someone talks about math or genetics. Much of Congress is made up of these people and they just can't understand any of the science, it's pathetic.
There is collusion with regard to gasoline prices. Period. Now let's get these presidential candidates- every one of them- to answer questions on what they are going to do about it. Not a single newspaper or tv show or debate has talked about the gas price issue. This is no coincidence. The people who own newspapers and tv/cable stations are some of the people who orchestrate the direction the world turns. We citizens need to get this issue on the table NOW before the ridiculous elections are over.
02-05-2008, 07:52 PM
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Until we build more refineries our prices will go higher and higher. This is the price we are paying for left coast liberal wackos dictating our EPA laws. It doesn't matter how clean you make something anymore. Pinko-commy-bed-wetting-tree-hugging-dirt-people don't want anyone to succeed unless they eat grass and live in a cave.
Supply is artificially regulated below demand because of the enviro-wackos. THe same people also want ever higher taxes on gasoline to discourage it's use. Al Gore wanted an increase of $1 a gallon at one point. McCain wants a .50 cent per gallon increase right now. Result: Higher prices at the pump.
We've done it to ourselves.
Supply is artificially regulated below demand because of the enviro-wackos. THe same people also want ever higher taxes on gasoline to discourage it's use. Al Gore wanted an increase of $1 a gallon at one point. McCain wants a .50 cent per gallon increase right now. Result: Higher prices at the pump.
We've done it to ourselves.
02-05-2008, 07:55 PM
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Gas prices are tied to the economy
I agree wholeheartedly with the poster who mentioned that gas/oil prices has not been mentioned once in all the political campaigns. It is clear the oil companies have them all in their hip pockets.
02-05-2008, 09:37 PM
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One of the biggest problems we are having is that people work 50 or more miles away from where they live so there is more congestion on the highways and this, in turn, reflects in town as that is where their destination usually is. When you drive a truck on the interestate or just about any V8 as most trucks and SUVs have, the aerodynamics along with the distance is the main reason why gas is going as fast as it is. Nothing wrong with having a truck or SUV but, in Atlanta, when I see tens of thousands of cars on i-20, 75, 85, and there is only one person driving and they are counties away from what is on their liscense plate, I know that they are just not wanting to give up the SUV due to status. I cannot say alot but, I do drive a 91 civic to work and try to do a little something to help. When people understand that you should live a little closer to where you work then drive from Alabama to Atlanta every day in a Suburban, things will get a little better. I am all for people having what they want but there is a time and place to do anything. Buy the Hummer but drive it only when you are hauling something or many someones as it is intended and drive the econo box more.
02-05-2008, 09:53 PM
#59
Not a single newspaper or tv show or debate has talked about the gas price issue. This is no coincidence. The people who own newspapers and tv/cable stations are some of the people who orchestrate the direction the world turns. We citizens need to get this issue on the table NOW before the ridiculous elections are over.
02-05-2008, 10:46 PM
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Advances in energy efficient technology is made every year. Yes, it takes something like 20 years to develop a new technology, but we don't have to wait 20 years because companies have been doing it since forever.
3.5 years is good enough.
EDIT: Also, increase prices of ALL cars, so the poor and a good portion of middle class people can no longer afford one. This takes away purchasing power from the people for cars, and hence reduces the number of cars on the road.
That, or push companies to develop more "AT ALL COSTS" kind of cars. Prices skyrocket, and fewer will be able to purchase cars. I'm not saying get all companies to make supercars exclusively. I'm just saying, the price of a Corolla class vehicle should start at $26,000, with our cars at $35,000. Of course, they're all fully loaded though.
No more $14,000 econoboxes.
3.5 years is good enough.
EDIT: Also, increase prices of ALL cars, so the poor and a good portion of middle class people can no longer afford one. This takes away purchasing power from the people for cars, and hence reduces the number of cars on the road.
That, or push companies to develop more "AT ALL COSTS" kind of cars. Prices skyrocket, and fewer will be able to purchase cars. I'm not saying get all companies to make supercars exclusively. I'm just saying, the price of a Corolla class vehicle should start at $26,000, with our cars at $35,000. Of course, they're all fully loaded though.
No more $14,000 econoboxes.
well..what can i say. you are a very evil person.
the idea you just put out is a good idea for any Dictatorship country. A good country will not just go around and deny the poor people the rights of having a self transportation. your solution is straight and clean but it is very immoral.
02-05-2008, 11:09 PM
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Please tell me your joking. Do you really think that we live in a vacuum and that ravaging Alaska won't have negative effects on the Earth's eco system?
02-05-2008, 11:48 PM
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Its all supply and demand. As long as people keep paying for it, the price will not go down significantly. All that is in the news that politicians talk about is taxes and how to spend your money instead of trying to find out ways to make do with what they do get. There are so many factors that influence prices of good and services that it is almost mind boggling. The only way to "fix" the problems here are to enforce the laws that people let slide that contribute to the "problems" the working class faces. Banks give out too many bad loans, government taxes people like us and use that money on people that should not be here, and many local governments would rather give you a speeding ticket then enforce laws that are meant to really keep people safe. Greed is the root to much evil in this country. Until people stand up and question what is going on, ignoring it doesnt mean it will go away. Have to get some sleep. Enjoy your 8s. Redline a day keeps the towtruck away.
02-06-2008, 02:19 PM
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http://seekingalpha.com/article/6313..._editors_picks
Just to pour some more gasoline on this fire.
last year exxon paid 27 BILLION in taxes. Thats more taxes then are paid by the bottom 50% of all taxpayers combined (thats 65 million people)
This year they are going to pay 30 billion.
Their tax bracket? 41.4%
Just to pour some more gasoline on this fire.
last year exxon paid 27 BILLION in taxes. Thats more taxes then are paid by the bottom 50% of all taxpayers combined (thats 65 million people)
This year they are going to pay 30 billion.
Their tax bracket? 41.4%
02-06-2008, 03:11 PM
#64
The price of light crude oil, the really sweet easy stuff, yesterday on the global futures market was a little over $88 per barrel. 1 barrel is 31 gallons. That equals $2.84 per gallon before refinement into gasoline, before taxes, before shipping, before jo shmo local gas pump, before anything. That is why gasoline is high, because simply it is high on the global market because of a week dollar and supply & demand.
Over the past year the dollar has plunged and thats why we have paid a whole lot more compared to other countries where there currency hasn't lost value.
Over the past year demand over supply has increased and that is why everyone is paying more for oil around the world.
No matter how much oil we produce or refine its still going to be xxx.xx per barrel the only difference is going to be the small percentage that relates to shipping and refinement charges, which since its local we save on.
Now this was calculated using light crude and there other types of oils that aren't $88 per barrel but of course to produce gasoline refinement for those are going to me more and not all types of oil get refined into gasoline.
The best way to get lower oil prices is to get our economy and the value of our dollar booming the way it was when the euro and the dollar were almost the same. This will also help on any imported or any global traded commodity. The other way would be to decrease demand but doubt thats really going to happen anytime soon or increase supply significantly. I highly doubt that is going to happen anytime soon either.
On a side not I really don't care about gas prices at the pump look at all the other things that are ridiculously prices. I paid about 3.75k on gas last year and that was about 6.8% of my total income. You can do the math and tell me if I make more then a lot of people out there, I don't think i do. I drove a lot of miles in a really inefficient car, i could not have driven to boston and back for the hell of it and go get a mini cooper or a civic and have cut that in half.
Gas is cheap, $3.00 a gallon. The real outrage is why I bought a 12 oz bottle of water the other day for $1.50. Now that is insane. I went to a hockey game and spent $6.00 on a cup of Coors Light. You know how much gas I could have gotten for that?
Over the past year the dollar has plunged and thats why we have paid a whole lot more compared to other countries where there currency hasn't lost value.
Over the past year demand over supply has increased and that is why everyone is paying more for oil around the world.
No matter how much oil we produce or refine its still going to be xxx.xx per barrel the only difference is going to be the small percentage that relates to shipping and refinement charges, which since its local we save on.
Now this was calculated using light crude and there other types of oils that aren't $88 per barrel but of course to produce gasoline refinement for those are going to me more and not all types of oil get refined into gasoline.
The best way to get lower oil prices is to get our economy and the value of our dollar booming the way it was when the euro and the dollar were almost the same. This will also help on any imported or any global traded commodity. The other way would be to decrease demand but doubt thats really going to happen anytime soon or increase supply significantly. I highly doubt that is going to happen anytime soon either.
On a side not I really don't care about gas prices at the pump look at all the other things that are ridiculously prices. I paid about 3.75k on gas last year and that was about 6.8% of my total income. You can do the math and tell me if I make more then a lot of people out there, I don't think i do. I drove a lot of miles in a really inefficient car, i could not have driven to boston and back for the hell of it and go get a mini cooper or a civic and have cut that in half.
Gas is cheap, $3.00 a gallon. The real outrage is why I bought a 12 oz bottle of water the other day for $1.50. Now that is insane. I went to a hockey game and spent $6.00 on a cup of Coors Light. You know how much gas I could have gotten for that?
Last edited by bsteimel; 02-06-2008 at 03:35 PM. Reason: added another point
02-06-2008, 10:24 PM
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have mixed feelings on exxon. Family stock. I can say that 30 years ago people didnt drive near as many miles to and from places as they do now. Funny thing is that gas milage is about the same if you look at the vehicles of the time. Just the economy cars are a little better. The big change is 2 fold. Households today have 2 cars or more. In many cases, the cars are SUVs and people drive about 2-4 times as much as they did 30 years ago. With that said, (those that are older know what I mean) when you drive many miles more than you used to and have more cars to drive than you used to, and there are about 75 million more people on the road than their used to be, demand is going to increase so fast as compared to supply. Also, take into account that more families have both parents working and demand is skyrocketing. There is not much that can be done unless people either cut back and move closer to their work or, buy econoboxes, or use another means of transport if possible. I drive a civic to work myself but, people have a right to buy what they want to use it how they want. People just have to understand that in doing that, large scale problems are as we see it now.
02-07-2008, 12:00 AM
#66
The sentence in boldface hits the nail right on the head. More importantly though, the average moron living in this country buys this propaganda. What a total joke that the "conservative" candidate who's supposed to represent good values and common sense and stand up against the immoral, idiotic left is as close to that side as one could get.
Secondly, the price of oil isn't controlled by the US. It is used globally. Go back and read the first posts. There may be localized differences in the price of gasoline. But, it's the emerging countries that will cause the price of oil to continue upward.
02-07-2008, 11:54 AM
#68
http://www.reuters.com/article/newsO...28259020080206
Gasoline could drop 50 cents/gallon by spring
Wed Feb 6, 2008 2:14pm EST
By Timothy Gardner
NEW YORK (Reuters) - U.S. drivers could enjoy a drop of up to 50 cents per gallon in gasoline prices by this spring as high fuel prices and the threat of a recession force them to conserve, experts said on Wednesday.
U.S. gasoline supplies hit a near-14-year high of 227.5 million barrels last week, helped by falling demand for the fuel, the U.S. Energy Information Administration said on Wednesday.
(and theres more)
Gasoline could drop 50 cents/gallon by spring
Wed Feb 6, 2008 2:14pm EST
By Timothy Gardner
NEW YORK (Reuters) - U.S. drivers could enjoy a drop of up to 50 cents per gallon in gasoline prices by this spring as high fuel prices and the threat of a recession force them to conserve, experts said on Wednesday.
U.S. gasoline supplies hit a near-14-year high of 227.5 million barrels last week, helped by falling demand for the fuel, the U.S. Energy Information Administration said on Wednesday.
(and theres more)
02-07-2008, 01:14 PM
#69
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What I'm saying is there is little scientific support, even among the scientists themselves, that petroleum comes from fossils. Apparently, so the story goes, it was just an infant idea among many a long time ago and for some expedient reason the politicians took off with it. Politicians chose this idea to push because it served their purpose at the time, but I do not remember what that purpose was, as I am only interested in the science, not the politics. Over the years, the new generations just accepted it as fact, as we do with so many things that get passed on through the generations.
So you can laugh at conspiracy theorists because it's a catchy phrase that is easy to attack (like "psycho babble" or "liberals"). But I am only interested in the historical facts and the human interactions within the scientific process.
What the scientific community is now talking about is that there was never any strong evidence or scientific community support for the idea that petroleum comes from fossils. Some scientists think petroleum may have existed at the formation of the earth or much earlier than the first life forms. And no one is suggesting it is renewable in a practical sense, but that may only depend on some new technology that has yet to be invented.
So I asked that question originally to find out if you are just a reader, a dabbler. Or are you able to sift through what you read and evaluate, investigate, and synthesize, rather than just regurgitate. It's all about the science and your ability to think scientifically whether or not you were a science major. All these Harvard Law graduates think they're logical and analytical geniuses but they cringe the moment someone talks about math or genetics. Much of Congress is made up of these people and they just can't understand any of the science, it's pathetic.
There is collusion with regard to gasoline prices. Period. Now let's get these presidential candidates- every one of them- to answer questions on what they are going to do about it. Not a single newspaper or tv show or debate has talked about the gas price issue. This is no coincidence. The people who own newspapers and tv/cable stations are some of the people who orchestrate the direction the world turns. We citizens need to get this issue on the table NOW before the ridiculous elections are over.
So you can laugh at conspiracy theorists because it's a catchy phrase that is easy to attack (like "psycho babble" or "liberals"). But I am only interested in the historical facts and the human interactions within the scientific process.
What the scientific community is now talking about is that there was never any strong evidence or scientific community support for the idea that petroleum comes from fossils. Some scientists think petroleum may have existed at the formation of the earth or much earlier than the first life forms. And no one is suggesting it is renewable in a practical sense, but that may only depend on some new technology that has yet to be invented.
So I asked that question originally to find out if you are just a reader, a dabbler. Or are you able to sift through what you read and evaluate, investigate, and synthesize, rather than just regurgitate. It's all about the science and your ability to think scientifically whether or not you were a science major. All these Harvard Law graduates think they're logical and analytical geniuses but they cringe the moment someone talks about math or genetics. Much of Congress is made up of these people and they just can't understand any of the science, it's pathetic.
There is collusion with regard to gasoline prices. Period. Now let's get these presidential candidates- every one of them- to answer questions on what they are going to do about it. Not a single newspaper or tv show or debate has talked about the gas price issue. This is no coincidence. The people who own newspapers and tv/cable stations are some of the people who orchestrate the direction the world turns. We citizens need to get this issue on the table NOW before the ridiculous elections are over.
But as you alluded above, I didn't see much relevance as wherever and however it is being produced by mother nature the vast majority of it still isn't even close to being economically viable.
I'll stick with the term fossil fuel as it's generally accepted and in that way understood. If the scientists and minds that are studying the origins of petroleum can ever conclusively prove one way or another I assume at that point there will be a shift in academia to support it.
As for the part of politicians not mentioning oil and engergy, that's not completely true. Just saw Hillary Clinton bring up the topic the other night...but I haven't heard others to this point even discuss it...
You should also consider that while all of us are just faceless screen names/entities - so are you. While you're trying to discern who are "readers" or "dabblers" or can practice critical thinking and such - there is no more evidence to support you can do much more than "regurgitate" in all of our eyes. I say this, because frankly it's annoying the way you've questioned without offering your point of view. Especially when the outcome is that your point of view is one that is becoming more and more commonplace to anyone that has researched this subject.
Last edited by Red Devil; 02-07-2008 at 01:20 PM.
02-07-2008, 02:11 PM
#70
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This thread is stupid....we all know why gas prices are so high!! Have you so quickly forgotten the crisis that happened yesterday....hurricane Katrina....come on refineries had to shut down and it caused gas prices to soar....oh wait that wasn't yesterday? It was three years ago.....damn I must have been sleeping or something because last time I checked thats what made gas prices skyrocket in the first place....why they never went down is beyond me 
As to where our imported oil comes from here you go...to the idiot who said something along the lines of 1/3 of our oil comes from Iran and yet we get 0 crude from them here ya go
Click
http://photos1.blogger.com/blogger/2...limports05.jpg
Click
Gas prices will remain high because there is no one to stop the oil companies from charging what they want.....all though truthfully and i'll leave it here the two places to place the blame are OPEC and investors
Lastly as to what oil is...here's a nice little read
As to where our imported oil comes from here you go...to the idiot who said something along the lines of 1/3 of our oil comes from Iran and yet we get 0 crude from them here ya go
Click
http://photos1.blogger.com/blogger/2...limports05.jpg
Click
Gas prices will remain high because there is no one to stop the oil companies from charging what they want.....all though truthfully and i'll leave it here the two places to place the blame are OPEC and investors
Lastly as to what oil is...here's a nice little read
In the first place what is oil? Is it 85% carbon, 13% hydrogen and 0.5% oxygen with traces of sulfur and nitrogen. Most geochemists ( in the pay of oil companies) believe that the oil originates from the decomposition of organic matter. They would have us believe that because organic matter - that is, formerly living organisms - is quantifiably a very limited source, the supply of oil itself must be limited.
It is not.
Oil is often called a "fossil" fuel; the idea being that it comes from formerly living organisms. This may have been plausible back when oil wells were drilled into the fossil layers of the earth's crust; but today, great quantities of oil are found in deeper wells that are found below the level of any fossils. How could then could oil have come from fossils, or decomposed former living matter, if it exists in rock formations far below layers of fossils - the evidence of formerly living organisms? It must not come from living matter at all!
Furthermore, if all the plants, insects and animals that ever lived were all squeezed into a massive ooze, there is no way they could have amounted to the volume of oil that has been found to date. They just would not make that much juice. On top of this, oil geochemists will admit, if pressed, that if all the oil wells ever drilled by their so - called scientific methods of divining had been drilled totally at random, they would have found as much oil with random drilling as by " educated " drilling. In other words, there is a lot of oil down there.....most everywhere. Just drill for it - and if you don't strike it, drill a little deeper.
There can only be one answer to the misinformation we have about oil. The oil men have always wanted a monopoly control, and with it, they want to charge as much money as they can for every gallon of gasoline. With this, they gross hundreds of billions of dollars per - year. They want us to believe that our present rate of oil consumption, we have possibly 20 to 30 years before we run out. They make this sound credible with their " decomposed organic matter" fable.
By bursting this bubble and pulling the plug on this scenario, we discover that petroleum is a natural organic product that is rising, in enormous quantities , from deep within the earth; with deeper drilling, as wildcatters are already doing, there will adequate oil for a long, long time, even at the present rate of consumption.
From 1956 to 1971, the number of giant oil fields more than doubled as drills go deep into the Paleozoic strata and below. Today, there is a glut on the market, and those who control oil are doing all they can to limit production in order to keep the prices very high. To do this, they get a lot of government help.
Shortly before William J. Casey became the head of the CIA, he made a speech before the American Bar Association during which he advocated " international agreements to establish commodity reserves and maintain prices". This is the kind of policy oil men like. At the same conference, Hans Heymann, one of Casey's deputies at the CIA, talked about the "enormous oil inventory building that we've had", and that " we (CIA) developed a system of institutions and codes of conduct that make it far easier for those who influence the international marketplace to exercise that influence". It is " those who influence the marketplace" who are the oil barons, and they are taking us for hundreds of billions of dollars every year - with the aid of almost all Western governments.
L. Fletcher Prouty
It is not.
Oil is often called a "fossil" fuel; the idea being that it comes from formerly living organisms. This may have been plausible back when oil wells were drilled into the fossil layers of the earth's crust; but today, great quantities of oil are found in deeper wells that are found below the level of any fossils. How could then could oil have come from fossils, or decomposed former living matter, if it exists in rock formations far below layers of fossils - the evidence of formerly living organisms? It must not come from living matter at all!
Furthermore, if all the plants, insects and animals that ever lived were all squeezed into a massive ooze, there is no way they could have amounted to the volume of oil that has been found to date. They just would not make that much juice. On top of this, oil geochemists will admit, if pressed, that if all the oil wells ever drilled by their so - called scientific methods of divining had been drilled totally at random, they would have found as much oil with random drilling as by " educated " drilling. In other words, there is a lot of oil down there.....most everywhere. Just drill for it - and if you don't strike it, drill a little deeper.
There can only be one answer to the misinformation we have about oil. The oil men have always wanted a monopoly control, and with it, they want to charge as much money as they can for every gallon of gasoline. With this, they gross hundreds of billions of dollars per - year. They want us to believe that our present rate of oil consumption, we have possibly 20 to 30 years before we run out. They make this sound credible with their " decomposed organic matter" fable.
By bursting this bubble and pulling the plug on this scenario, we discover that petroleum is a natural organic product that is rising, in enormous quantities , from deep within the earth; with deeper drilling, as wildcatters are already doing, there will adequate oil for a long, long time, even at the present rate of consumption.
From 1956 to 1971, the number of giant oil fields more than doubled as drills go deep into the Paleozoic strata and below. Today, there is a glut on the market, and those who control oil are doing all they can to limit production in order to keep the prices very high. To do this, they get a lot of government help.
Shortly before William J. Casey became the head of the CIA, he made a speech before the American Bar Association during which he advocated " international agreements to establish commodity reserves and maintain prices". This is the kind of policy oil men like. At the same conference, Hans Heymann, one of Casey's deputies at the CIA, talked about the "enormous oil inventory building that we've had", and that " we (CIA) developed a system of institutions and codes of conduct that make it far easier for those who influence the international marketplace to exercise that influence". It is " those who influence the marketplace" who are the oil barons, and they are taking us for hundreds of billions of dollars every year - with the aid of almost all Western governments.
L. Fletcher Prouty
Last edited by dtorre; 02-07-2008 at 10:43 PM.
02-07-2008, 02:36 PM
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Good post. For example, there's enough coal in North America that we know of right now that at present comsumption rates it would last us another ~300 years.
02-07-2008, 11:03 PM
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About 80 miles off of the coast of Louisiana lies a mostly submerged mountain, the top of which is known as Eugene Island. The portion underwater is an eerie-looking, sloping tower jutting up from the depths of the Gulf of Mexico, with deep fissures and perpendicular faults which spontaneously spew natural gas. A significant reservoir of crude oil was discovered nearby in the late '60s, and by 1970, a platform named Eugene 330 was busily producing about 15,000 barrels a day of high-quality crude oil.
By the late '80s, the platform's production had slipped to less than 4,000 barrels per day, and was considered pumped out. Done. Suddenly, in 1990, production soared back to 15,000 barrels a day, and the reserves which had been estimated at 60 million barrels in the '70s, were recalculated at 400 million barrels. Interestingly, the measured geological age of the new oil was quantifiably different than the oil pumped in the '70s.
Analysis of seismic recordings revealed the presence of a "deep fault" at the base of the Eugene Island reservoir which was gushing up a river of oil from some deeper and previously unknown source.
Similar results were seen at other Gulf of Mexico oil wells. Similar results were found in the Cook Inlet oil fields in Alaska. Similar results were found in oil fields in Uzbekistan. Similarly in the Middle East, where oil exploration and extraction have been underway for at least the last 20 years, known reserves have doubled. Currently there are somewhere in the neighborhood of 680 billion barrels of Middle East reserve oil.
Creating that much oil would take a big pile of dead dinosaurs and fermenting prehistoric plants. Could there be another source for crude oil?
The theory is simple: Crude oil forms as a natural inorganic process which occurs between the mantle and the crust, somewhere between 5 and 20 miles deep. The proposed mechanism is as follows:
* Methane (CH4) is a common molecule found in quantity throughout our solar system – huge concentrations exist at great depth in the Earth.
* At the mantle-crust interface, roughly 20,000 feet beneath the surface, rapidly rising streams of compressed methane-based gasses hit pockets of high temperature causing the condensation of heavier hydrocarbons. The product of this condensation is commonly known as crude oil.
* Some compressed methane-based gasses migrate into pockets and reservoirs we extract as "natural gas."
* In the geologically "cooler," more tectonically stable regions around the globe, the crude oil pools into reservoirs.
* In the "hotter," more volcanic and tectonically active areas, the oil and natural gas continue to condense and eventually to oxidize, producing carbon dioxide and steam, which exits from active volcanoes.
* Periodically, depending on variations of geology and Earth movement, oil seeps to the surface in quantity, creating the vast oil-sand deposits of Canada and Venezuela, or the continual seeps found beneath the Gulf of Mexico and Uzbekistan.
* Periodically, depending on variations of geology, the vast, deep pools of oil break free and replenish existing known reserves of oil.
By the late '80s, the platform's production had slipped to less than 4,000 barrels per day, and was considered pumped out. Done. Suddenly, in 1990, production soared back to 15,000 barrels a day, and the reserves which had been estimated at 60 million barrels in the '70s, were recalculated at 400 million barrels. Interestingly, the measured geological age of the new oil was quantifiably different than the oil pumped in the '70s.
Analysis of seismic recordings revealed the presence of a "deep fault" at the base of the Eugene Island reservoir which was gushing up a river of oil from some deeper and previously unknown source.
Similar results were seen at other Gulf of Mexico oil wells. Similar results were found in the Cook Inlet oil fields in Alaska. Similar results were found in oil fields in Uzbekistan. Similarly in the Middle East, where oil exploration and extraction have been underway for at least the last 20 years, known reserves have doubled. Currently there are somewhere in the neighborhood of 680 billion barrels of Middle East reserve oil.
Creating that much oil would take a big pile of dead dinosaurs and fermenting prehistoric plants. Could there be another source for crude oil?
The theory is simple: Crude oil forms as a natural inorganic process which occurs between the mantle and the crust, somewhere between 5 and 20 miles deep. The proposed mechanism is as follows:
* Methane (CH4) is a common molecule found in quantity throughout our solar system – huge concentrations exist at great depth in the Earth.
* At the mantle-crust interface, roughly 20,000 feet beneath the surface, rapidly rising streams of compressed methane-based gasses hit pockets of high temperature causing the condensation of heavier hydrocarbons. The product of this condensation is commonly known as crude oil.
* Some compressed methane-based gasses migrate into pockets and reservoirs we extract as "natural gas."
* In the geologically "cooler," more tectonically stable regions around the globe, the crude oil pools into reservoirs.
* In the "hotter," more volcanic and tectonically active areas, the oil and natural gas continue to condense and eventually to oxidize, producing carbon dioxide and steam, which exits from active volcanoes.
* Periodically, depending on variations of geology and Earth movement, oil seeps to the surface in quantity, creating the vast oil-sand deposits of Canada and Venezuela, or the continual seeps found beneath the Gulf of Mexico and Uzbekistan.
* Periodically, depending on variations of geology, the vast, deep pools of oil break free and replenish existing known reserves of oil.
02-07-2008, 11:43 PM
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I find it interesting how the media makes a big deal out of oil prices going up and hitting $100 a barrel but since they've gone back down we've heard nothing. The media doesn't report positive stories though as it's only tragedy TV. Oil went back up today to $87 a barrel up from about $84. Why didn't they make a big deal about it falling off so far so fast? Anyone else find that a bit strange?
02-08-2008, 08:44 AM
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Great post Dtorre !
That was a theory (with less of the real science) back when they first begain pumping oil. The dyno theory was just the one that caught on. Can you imagin the look on some ultra tree hugger hearing that the Earth makes it's own oil.
Rotarygod, Good news is bad for the medias buisness. The liberally biased media can't scare and control people with positive stories.
That was a theory (with less of the real science) back when they first begain pumping oil. The dyno theory was just the one that caught on. Can you imagin the look on some ultra tree hugger hearing that the Earth makes it's own oil.
Rotarygod, Good news is bad for the medias buisness. The liberally biased media can't scare and control people with positive stories.
02-08-2008, 09:01 AM
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