Delta's domestic reductions.

[N2264J]

Re: Delta's domestic reductions

Yes, but if you are right, Exxon is literally in liquidation as we ponder the question.

What I was trying to say, somewhat inarticulately, is that 20 years from now, there will be about the same amount of oil available as there was 20 years ago.

Peak oil means we're at the top of the bell curve. But since 20 years from now is on the right side of the supply curve, the decreasing side, prices will continue to rise.

There's no new oil being mined. That's why we went into Iraq. That's why we're trying to pick a fight with Iran. No new oil source. Is it possible they'll find a great new oil field(s) to quench our growing demand plus China plus India? Yes, but it's wishful thinking.

And it not just our jobs that are in jeopardy, its our way of life. Our entire economy is based on abundant, cheap oil.

I'm lookin' to start spooning a Amish woman hoping they'll take me in.

 

[Smacktard]

...That's why we went into Iraq. That's why we're trying to pick a fight with Iran.

Is that why less oil is coming out of Iraq than before the war?

 

[IronCityBlue]

Never said that; we may see $80/bbl but thats where I see the absolute bottom being.

Oil will, inevitably, go upward of $200/bbl.

That said, I do not think it will go that high in the near future without a major terrorist attack on our nation's oil and/or financial infrastructure, or full-fledged shooting war with Iran.

Oil is high not because of a lack of immediate supply, its because of speculators betting on geopolitical unrest and the weakness of the currency that oil is traded in. Of course demand in China and India and Russia has driven up price, but supply-and-demand fundamentals DO NOT support anywhere near the current price per barrel.

And Smarta$$ I can't give you dates but all you have to do is look at, oh, the last 50 years or so of history. Things will never be the way they were but this, as everything else has, will pass.

I may not know anything, and I only have a degree in aviation, but I can watch Bloomberg and read the WSJ and figure out what is really going on. If this schumck can do that, anybody can...

Good post. The thing about the D bag speculators is the last couple years, particularly the last year, of their sport bidding price run up, is becoming a self fufilling prophecy. Trillions of petro dollars to our sworn enemies, and what do they think is going to happen?

The falling dollar should yield about 75/bbl max market price. Anything above that is no talent hack speculators dumping money into speculation because of what might happen, never mind that from 18 to 111/bbl is hasn't happened.

Now the oil companies are addicted to 9%+ profit margins and they will cut production/exploration/etc to insure it, and OPEC will make up for the rest. The Air Force wants to build a coal to oil plant, and congressman Waxman says no because global warming is a national security concern. :laugh: Makes you wonder who's on the take for big oil afterall. ALl this time I thought it was all Bush's fault! :crying:

 

[Danny040]

maybe some good news. your thoughts?

http://www.nextenergynews.com/news1/next-energy-news2.13s.html

 

[N2264J]

Re: Delta's domestic reductions

maybe some good news. your thoughts?

Best news I've heard for a while.

It made my day until I realized it makes the disaster in Iraq even more tragic.

 

[N2264J]

Re: Delta's domestic reductions

maybe some good news. your thoughts?

https://www.dmr.nd.gov/ndgs/bakken/newpostings/07272006_BakkenReserveEstimates.pdf

Although there appears to be a good oil source in North Dakota, there's a lot of controversy surrounding this deposit. The estimates of what's there are anywhere from 3 billion to 500 billion barrels. How much of that is recoverable is yet another question.

According to this paper by the US Geological Survey, it appears that Dr. Price flew in the face of some conventional protocols in the scientific method and died (2000) before his findings were peer reviewed. (there still is no peer reviewed endorsement in the last eight years that I can find).

It just seems to me that sitting on 500 billion barrels recoverable oil would be more news worthy than this has been. Wouldn't there be rejoicing in the streets as the price of oil freefalls? That's enough oil to make the US energy independant for 40 years at current usage levels.

Also, unless we nationalize that resource, wouldn't the oil companies just sell it to the highest bidder? Their only patriotic allegiance is to the dollar, not the US airline industry.

Thanks for trying to cheer me up but on further examination, I think I'll hold my enthusiasm on the Bakken formation in check.

 

[siucavflight]

maybe some good news. your thoughts?

http://www.nextenergynews.com/news1/next-energy-news2.13s.html

That would be great, but there will be some liberal tree hugging pukes that will prevent us from drilling, just the same as they are doing in Alaska.

 

[79%N1]

That would be great, but there will be some liberal tree hugging pukes that will prevent us from drilling, just the same as they are doing in Alaska.

Not any more! People think and vote with their wallets! At $20 barrel oil, I prefer to not destroy wildlife and undisturbed areas. At $110 - Drill away! The entire economy depends on affordable oil. The time is now to explore new sources, as well as develope new energy sources. We need to develpoe more Hyrdo-turbines. They could power any large city on a river. Think about the Mississippi. How many cities could a moving river power. More Solar and wind energy in the Southwest and West. Hydrogen for Cars to alleviate our need for oil.
What if every new home built used solar for all energy needs, with electric back-up. All cars in 10 years use hydrogen. Remember, it was early 1960's when JFK went 'off his rocker' and said we would send a man to the Moon, and return him safely to earth by the decades end. And, low and behold, in 1969 it happened. Why, because they made it a priority to accomplish that seemingly useless task.
So, why not this? There are MANY sources of renewable and cheaper energy. It's time to start developing ways for the average Joe to use them.

 

[COOPERVANE]

I say yes develop more alternatives, but in the meantime, keep our oil in the ground. Buy all we need from the arabs and keep it out of China's hands.

Save ours for US when we need it and let THEM shrink on the vine!!

 

[IronCityBlue]

I say yes develop more alternatives, but in the meantime, keep our oil in the ground. Buy all we need from the arabs and keep it out of China's hands.

Save ours for US when we need it and let THEM shrink on the vine!!

There are other ways to set up and knock China down. The way you suggest would/is putting trillions of out petro dollars into the hands of our sworn enemies. And even if we were 100% oil independant, that would only mean China would have access to all the ME oil without our competition, which would mean endless 12/bbl oil for centuries if our consumption were out of the picture.

We need increased production and conservation simultaneously, coupled with effective alternatives and a rising dollar. Much of this is caused by our fake real estate price orgy and phony money lending fools. We must now pay the price for the trillions of Monopoly money we built our economy on that never really existed. If there is any comfort in that, its the fact that Europe is right behind us. Our painful head start will put us ahead of them eventually, and hopefully will crush the unholy alliance that is the Euro.