Another Warning About the (Alleged) Lack of Oil
From the U.K's Independent interview with Dr Fatih Birol, chief economist at the International Energy Agency (IEA) in Paris, France.
Now I personally believe that there is plenty of untapped oil all over the world. So does OPEC. and Vladimir Putin, says Russia has enough to supply Europe for the next 100 years. Not that I'd take his word for anything, but he is talking business, so he would be committing economic suicide if he were falsifying anything. Ireland's Business & Finance Portal claims that "the world still has enough proven oil reserves to provide 40 years of consumption at current rates, in spite of a slight fall last year." There is also much in reserve that has already been tapped and processed. Now, the economic and environmental aspects or even consequences may be debated (if it will even be allowed by the Al-colytes of the former Vice-President) but to say that the world's oil supply is "running out" is a bit misleading considering that are, as the article itself states, huge untapped resources in Canada. There are as well in the Gulf of Mexico,
Shell Oil president, John Hofmeister, on this interview with Meridith Viera on the Today show explains. Yes, he is a "big oil" representative, but why would that automatically make him a liar? I mean considering the network that he's being interviewed on (CBS) I'd say it would be even if he were.
But regardless, of his opinion and/or statistics, remember Jimmy Carter put the fear of the "out of oil" scare into millions of people after he screwed up the economy and allowed Iran to control the prices of petrol because of his ineptitude. It wasn't that there was no oil, it was because he was a failure at economics and foreign policy. The "no oil scare" has been regurgitated for years, decades even. Some claim that there is enough oil beneath the ocean floor (by the best conservative estimates to last the next 50, 000 years-although that number has to be suspect)
The question isn't whether there is enough oil down there, it's whether technology could catch up in time to access all, should a crisis arise.
In this article, Philip V. Brennan says there is enough oil in the U.S. as well, especially Alaska.
Eventually it has to run out (or maybe not) but by then technology will be at a point where alternative fuel will be the norm. I think we'll be all right.
Now I personally believe that there is plenty of untapped oil all over the world. So does OPEC. and Vladimir Putin, says Russia has enough to supply Europe for the next 100 years. Not that I'd take his word for anything, but he is talking business, so he would be committing economic suicide if he were falsifying anything. Ireland's Business & Finance Portal claims that "the world still has enough proven oil reserves to provide 40 years of consumption at current rates, in spite of a slight fall last year." There is also much in reserve that has already been tapped and processed. Now, the economic and environmental aspects or even consequences may be debated (if it will even be allowed by the Al-colytes of the former Vice-President) but to say that the world's oil supply is "running out" is a bit misleading considering that are, as the article itself states, huge untapped resources in Canada. There are as well in the Gulf of Mexico,
Shell Oil president, John Hofmeister, on this interview with Meridith Viera on the Today show explains. Yes, he is a "big oil" representative, but why would that automatically make him a liar? I mean considering the network that he's being interviewed on (CBS) I'd say it would be even if he were.
But regardless, of his opinion and/or statistics, remember Jimmy Carter put the fear of the "out of oil" scare into millions of people after he screwed up the economy and allowed Iran to control the prices of petrol because of his ineptitude. It wasn't that there was no oil, it was because he was a failure at economics and foreign policy. The "no oil scare" has been regurgitated for years, decades even. Some claim that there is enough oil beneath the ocean floor (by the best conservative estimates to last the next 50, 000 years-although that number has to be suspect)
The question isn't whether there is enough oil down there, it's whether technology could catch up in time to access all, should a crisis arise.
In this article, Philip V. Brennan says there is enough oil in the U.S. as well, especially Alaska.
Eventually it has to run out (or maybe not) but by then technology will be at a point where alternative fuel will be the norm. I think we'll be all right.
posted by Northern Exposer at 01:52
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