Doesn't it seem to you that our Nation is too cowardly just to rely on the people; that the "biggies" always will need apron strings? If it wasn't one of those two, it might be the corn standard or soybeans or pharmaceuticals.
Oil is definitely the most multi-purpose natural resource, as demonstrated by the fact it penetrates all aspects of living, from travel to the manufacturing of simple day-to-day goods. The oil standard has arisen only because natural crude oil supplies have peaked, to which end, commercial oil prices have inflated dramatically. However, the current inflation in the cost of oil is not only due to an international demand the industry has never experienced before. Rather, it is a combination of factors that will cease to lessen, which will inevitably have a long-term influence over the price of crude oil. One contributing factor is that the current demand for oil outweighs all previous supply and demand ratios. A reason for this is due to the world's record over-population, together with the recent rapid economic and industrial growth in countries that have never occupied such roles before, namely India and China. Whilst bio-fuels are presently promoted as the all-star solution to remedy this situation, it is questionable whether the production of bio-fuels will deliver this result. This is because the production of bio-fuels requires a certain element of petroleum; the environmental waste resulting from bio-fuel production is unattractive to our eco systems; the core material for bio-fuel production is a staple grain, to which end, the world's food chain economy is greatly affected; the amount of crude oil produced per day is incomparable to the daily production of bio-fuels, which will inevitably not improve or ameliorate any of the present day fuel related problems that have gradually been developing since the 1970s.
The current oil prices have risen above even supply and demand economics, due to speculation, according to many of the newspapers. Any thoughts on this?
The newspapers deliberately leave out the facts, as they are known to do, as the issue is far too sensitive and the truth of the matter far too difficult to digest. It would only contribute to the world entering into a greater state of fear, not something they want to be seen as an agent for, understandably. Speculation does not give rise to current oil prices having risen above even supply and demand economics, rather it's due to the circumstances creating the issues, which the oil industry knows is beyond anybody's control.
My brother works in the oil industry in the Middle East; he has far more reliable information than the media. How do you think speculation is the sole cause of this, when there is nothing logical in the argument?
Firstly, can you back up your claim with material that is not of a media nature and with a reliable source? The link I sent for the book is along the lines of what he reports from living and working in the Middle East. The book contains plenty of documentation that should fulfil your doubt. What else do you want me to do, get my brother to ring you up or something?!?
I never made a claim, other than what the media is reporting. I asked you to cite sources for your argument, which you have done in a roundabout fashion. Thank you.
the sad thing is we've known since the 1950s, thanks to m. king hubbert, that the amount of oil in the ground is finite, and would reach its peak flow rate about now. we should have been addressing this 50 years ago!
Keep in mind that while the price of oil is also rising around the world, the rate is negligable compared to the rise in the U.S. This is because the dollar is dropping like a rock, and it takes more of them to buy anything, including oil. This is the most immediate reason for the rise in cost. The second is most likely the people that are taking their money out of the real estate market (for obvious reasons) and investing it in something that everyone agrees is valuable and will go up.
I am not arguing against the peak oil thing - that is also a factor - but it's less of one at the immediate moment than these two are.
The original source of wealth was not gold itself, but the food that was required to feed people to haul the gold out of the ground and to stand around holding weapons to protect the accumulated gold. Likewise, oil is an international equivalent in the sense that it feeds the machines that do all the stuff we want done. It serves the same role that food did before mechanization.
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Date: 2008-05-22 03:23 pm (UTC)see also http://theoildrum.com .
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Date: 2008-05-23 06:26 am (UTC)(I do see what you're saying.)
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Date: 2008-05-22 09:33 pm (UTC)I am not arguing against the peak oil thing - that is also a factor - but it's less of one at the immediate moment than these two are.
Feeding th' machines
Date: 2008-05-22 10:41 pm (UTC)