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Joined: May 2006
Posts: 3,945
Campfire Tracker
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Campfire Tracker
Joined: May 2006
Posts: 3,945 |
Oranges are dumped by the ton to keep the price high....diamonds are mined and controlled to keep the price high.
There has always been plenty of oil.
Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.
Thomas Jefferson
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Joined: Jan 2001
Posts: 21,317
Campfire Ranger
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Campfire Ranger
Joined: Jan 2001
Posts: 21,317 |
There's a bit more to getting oil out of the ground than a pickup truck full of illegals picking oranges off a tree...
... but I wouldn't expect someone who drives slow in the fast lane to grasp such a concept.
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Joined: Nov 2002
Posts: 33,741 Likes: 4
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,741 Likes: 4 |
The majors have reduced capital expenditure significantly. My company, Royal Dutch Shell, has shut down a number of large projects, some with billions spent in engineering, procurement and construction. China and India will grow, second and third world countries will develop. Demand will rise and there will be gap in the necessary oil development to provide the needed supply. The price of oil will rise. At least that's my two bits.
Conduct is the best proof of character.
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Joined: Jan 2005
Posts: 22,884
Campfire Ranger
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Campfire Ranger
Joined: Jan 2005
Posts: 22,884 |
"Cheap" energy is plentiful and easy to find/produce nowadays. If you had any clue as to what is involved in exploration and production of oil you would not make that statement. Yes, there is plenty of oil First, I probably know a good bit about getting oil out of the ground and getting it to market. Second, I agree that "there is plenty of oil."
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Joined: Nov 2002
Posts: 33,741 Likes: 4
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,741 Likes: 4 |
"Cheap" energy is plentiful and easy to find/produce nowadays. If you had any clue as to what is involved in exploration and production of oil you would not make that statement. Yes, there is plenty of oil First, I probably know a good bit about getting oil out of the ground and getting it to market. Second, I agree that "there is plenty of oil." "Plenty of oil" means zero. The ultimate cost of oil, and gas by the way, is a geopolitical process first and foremost as it drives the risk considerations we use to decide to move forward.
Conduct is the best proof of character.
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Joined: Aug 2005
Posts: 28,259 Likes: 6
Campfire Ranger
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Campfire Ranger
Joined: Aug 2005
Posts: 28,259 Likes: 6 |
The majors have reduced capital expenditure significantly. My company, Royal Dutch Shell, has shut down a number of large projects, some with billions spent in engineering, procurement and construction. China and India will grow, second and third world countries will develop. Demand will rise and there will be gap in the necessary oil development to provide the needed supply. The price of oil will rise. At least that's my two bits. I could not agree more......the cycle continues, and will continue to do so.
It is irrelevant what you think. What matters is the TRUTH.
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