Oil Prices Increase on Supply Concerns

[FN FAL]

I havd done some flying for a guy that is working with geologists and physicists to perfect the extraction of oil from sand. From what I understand, when this happens we can kiss Africa and the middle east goodby forever and let them eat scorpions and camel dung. There is supposedly enough of this stuff to last a very long time and ALOT of people are working on the solution.

Necessity is the Mother of invention. Always has been, always will be.

All we have to do is figure out a way to restock up on fossils.

 

[hotwing]

not econ...

People who buy a hybrid are wacko’s, huh? They’re people who are putting their money where their mouth is to help solve the problem, and reduce this country’s dependence on foreign oil. I’d suggest you follow their example, but a hybrid probably wouldn’t be able to pull your trailer home around.

Fact -- Gas would have to be $4.00+ for these cars to pay off...

 

[Quimby]

The Hunt for Zero Point by Nick Cook is a very interesting read. He was/is the Aviation Editor for Jane's.

 

[LAZYB]

[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA] Sustainable oil?
[FONT=ARIAL,HELVETICA] May 25, 2004
By Chris Bennett
� 2004 WorldNetDaily.com


[/FONT][/FONT][/FONT][/FONT][/FONT][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]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. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]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. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]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. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]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. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]Creating that much oil would take a big pile of dead dinosaurs and fermenting prehistoric plants. Could there be another source for crude oil? [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]An intriguing theory now permeating oil company research staffs suggests that crude oil may actually be a natural inorganic product, not a stepchild of unfathomable time and organic degradation. The theory suggests there may be huge, yet-to-be-discovered reserves of oil at depths that dwarf current world estimates. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]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: [/FONT][/FONT][/FONT][/FONT][/FONT]

• [FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][/FONT][/FONT][/FONT][/FONT][/FONT][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]
  [*]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.[/FONT][/FONT][/FONT][/FONT][/FONT]

[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][/FONT][/FONT][/FONT][/FONT][/FONT][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA](cont.)
[/FONT][/FONT][/FONT][/FONT][/FONT]

 

[LAZYB]

[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA](cont.)

There are a number of observations across the oil-producing regions of the globe that support this theory, and the list of proponents begins with Mendelev (who created the periodic table of elements) and includes Dr.Thomas Gold (founding director of Cornell University Center for Radiophysics and Space Research) and Dr. J.F. Kenney of Gas Resources Corporations, Houston, Texas. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]In his 1999 book, "The Deep Hot Biosphere," Dr. Gold presents compelling evidence for inorganic oil formation. He notes that geologic structures where oil is found all correspond to "deep earth" formations, not the haphazard depositions we find with sedimentary rock, associated fossils or even current surface life. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]He also notes that oil extracted from varying depths from the same oil field have the same chemistry – oil chemistry does not vary as fossils vary with increasing depth. Also interesting is the fact that oil is found in huge quantities among geographic formations where assays of prehistoric life are not sufficient to produce the existing reservoirs of oil. Where then did it come from? [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]Another interesting fact is that every oil field throughout the world has outgassing helium. Helium is so often present in oil fields that helium detectors are used as oil-prospecting tools. Helium is an inert gas known to be a fundamental product of the radiological decay or uranium and thorium, identified in quantity at great depths below the surface of the earth, 200 and more miles below. It is not found in meaningful quantities in areas that are not producing methane, oil or natural gas. It is not a member of the dozen or so common elements associated with life. It is found throughout the solar system as a thoroughly inorganic product. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]Even more intriguing is evidence that several oil reservoirs around the globe are refilling themselves, such as the Eugene Island reservoir – not from the sides, as would be expected from cocurrent organic reservoirs, but from the bottom up. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]Dr. Gold strongly believes that oil is a "renewable, primordial soup continually manufactured by the Earth under ultrahot conditions and tremendous pressures. As this substance migrates toward the surface, it is attached by bacteria, making it appear to have an organic origin dating back to the dinosaurs." [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]Smaller oil companies and innovative teams are using this theory to justify deep oil drilling in Alaska and the Gulf of Mexico, among other locations, with some success. Dr. Kenney is on record predicting that parts of Siberia contain a deep reservoir of oil equal to or exceeding that already discovered in the Middle East. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]Could this be true? [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]In August 2002, in the "Proceedings of the National Academy of Sciences (US)," Dr. Kenney published a paper, which had a partial title of "The genesis of hydrocarbons and the origin of petroleum." Dr. Kenney and three Russian coauthors conclude: [/FONT][/FONT][/FONT][/FONT][/FONT]

[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]The Hydrogen-Carbon system does not spontaneously evolve hydrocarbons at pressures less than 30 Kbar, even in the most favorable environment. The H-C system evolves hydrocarbons under pressures found in the mantle of the Earth and at temperatures consistent with that environment. [/FONT][/FONT][/FONT][/FONT][/FONT]
​

[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]He was quoted as stating that "competent physicists, chemists, chemical engineers and men knowledgeable of thermodynamics have known that natural petroleum does not evolve from biological materials since the last quarter of the 19th century." [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]Deeply entrenched in our culture is the belief that at some point in the relatively near future we will see the last working pump on the last functioning oil well screech and rattle, and that will be that. The end of the Age of Oil. And unless we find another source of cheap energy, the world will rapidly become a much darker and dangerous place. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]If Dr. Gold and Dr. Kenney are correct, this "the end of the world as we know it" scenario simply won't happen. Think about it ... while not inexhaustible, deep Earth reserves of inorganic crude oil and commercially feasible extraction would provide the world with generations of low-cost fuel. Dr. Gold has been quoted saying that current worldwide reserves of crude oil could be off by a factor of over 100. [/FONT][/FONT][/FONT][/FONT][/FONT]
[FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA][FONT=ARIAL,HELVETICA]A Hedberg Conference, sponsored by the American Association of Petroleum Geologists, was scheduled to discuss and publicly debate this issue. Papers were solicited from interested academics and professionals. The conference was scheduled to begin June 9, 2003, but was canceled at the last minute. A new date has yet to be set. http://www.prouty.org/oil.html[/FONT][/FONT][/FONT][/FONT][/FONT]

 

[LAZYB]

...


The impact on the planet of the conclusions of this debate

Much research remains to be done on "alternative" theories of the how much hydrocarbons are left in the world- unfortunately- those entities most able to do this research- the western multinational oil conglomerates- have the least interest in arriving at any conclusion other than those that are part of the "Peak Oil" stream of thought. Today the mainstream press has accepted as a given that the world has only a finite amount of oil and natural gas- and thus any decision taken on how to deal with the world's future needs are based on these conclusions. If they are erroneous- then the world is about to embark on a plan to provide for its energy needs for the coming century based on a false notion.
Research geochemist Michael Lewan of the U.S.Geological Survey in Denver, is one of the most knowledgeable advocates of the opposing theory, that petroleum is a "fossil fuel". Yet even Lewan admits:
"I don't think anybody has ever doubted that there is an inorganic source of hydrocarbons. The key question is, 'Do they exist in commercial quantities?'"
We might never know the answer to that question because both sides of this debate are not being heard by the general public. If the Russians have accepted the theory that hydrocarbons are renewable- and over time they will become the leading exporters of oil and gas worldwide- this fact alone requires these alternative theories of how fossil fuels are created- is required.
It behooves western governments to begin taking these alternative theories seriously- and design future energy policies based on possibility that they are correct. Whatever strategies for meeting the world's ferocious appetite for energy are devised today- will impact the planet for decades to come.
In this issue- we simply can't afford to be wrong.
Joel Bainerman


http://321energy.com/editorials/bainerman/bainerman083105.html

 

[Alin10123]

The scary thing is Iranian supply concerns are just the beginning. In the near future, around 2010, oil production for the world is supposed to reach a maximum and begin declining irreversibly and every barrel will cost more to extract as well. It's called "peak oil" predicted by Shell geologist M. King Hubbert in the 1950's and is being discussed in congress right now, by Congressman like Republican Roscoe Bartlett from Maryland.

Here is an article talking about problems coming with oil from
http://www.itp.net/business/features/details.php?id=3639&category=


I am one that thinks we are in the beginning stages of many showdowns for oil resources with other nations, possibly leading to WWIII. Iraq, Iran, and Venezuela(U.S.'s third largest oil supplier) are just the beginning. It's when China and the U.S. get into a conflict that things will get interesting. The great game of trying to acquire the world's last remaining resources for ourselves has just begun.

Oh and there's a reason that China is building its military faster than anyone has since WWII. They plan on having to use it soon.

Jet

I think that China's rapid building of the military has more to do with Japan and Taiwan than it does with fighting for oil right now. Yes, Taiwan and Japan are smaller countries. But an attack on any of those countries would mean war with the US. Do you remember last year when the Chinese Gov said that it had no intentions to attack taiwan but then a month later had the leglislation change the law to say that they could attack Taiwan at will? Then the recent up stirs of insisting that Japan apologize again for their war crimes. I kind of dont get it though. First off... WW2 was how many years ago? The people at the time had already apologized. The people in the current Gov, lets say are 30-60 years old. WW2 had 0 to do with them. Absolutely nothing. Most of them weren't born yet or were little kids at the time. Secondly... China had better be careful. At the time, if it weren't for the US entering WW2, they'd still all be speaking Japanese right now and having their country occupied by Japan. Third, almost three quarters of their economy is currently fueld by producing and exporting goods into the US.

I think it would be foolish of them to have to use their military against us. But again... China does a lot of things that doesn't make sense and there's a lot of stuff that goes on that we dont know about. I actually know someone that works for a state run company. Chinese people can't keep secrets that easy either. So i do hear rumors about a lot of stuff they are planning on doing. Them using miltary force somewhere in the future is imminent.

 

[LAZYB]

(...talk amongst yourself.)

http://forums.hypography.com/earth-science/2946-oil-not-fossil-fuel.html

 

[Focus]

I have not said anything for awhile so I will pipe up here.......China and the United States will come together in the next 20 years to put the oil problem to bed once and for all...combined, this force of military splendor will dominate the East and cause that part of the world to come to it knees. Now how about that Apple.....Focus out.

 

[Focus]

Speaking of Apples,,,,,,I have not received any thanks concerning my stock pick of AAPL doubling by tax day......any one that remembers that please take your winnings and sit on the sideline for the next month....Mkt too shaky right now with the curve and the Fed