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Sure, there might be slight price fluxuations, but becasue of the peak oil problem, we will never see cheep gas prices again go to www.lifeaftertheoilcrash.net for more
Dear Reader,
Civilization as we know it is coming to an end soon. This is not the wacky proclamation of a doomsday cult, apocalypse bible prophecy sect, or conspiracy theory society. Rather, it is the scientific conclusion of the best paid, most widely-respected geologists, physicists, and investment bankers in the world. These are rational, professional, conservative individuals who are absolutely terrified by a phenomenon known as global "Peak Oil."
-------------------- GSUS - Eternal 100 Bagger! HCPC - my favorite potential into December
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On the other hand, you have the tar sands of Canada, USA, Venezuela + other areas. In just Canada alone tar sands and shales hold 2.5 trillion barrels of oil, that is 2,500 Billion barrels of oil. Saudia Arabia only has 1/10th that amount of oil. Venezuela's oil sands have about as much oil, but it is deeper and harder to get to. America has close to this amount. And what is interesting is that the out put of oil from tar sands doesn't decrease over time, because it is not a pool of oil that is being sucked dry. The output stays the same until it is used up, and it won't be used up in our life times. Then there is coal, what used to be called the dirty fuel. America has the largest coal deposits in the world, enough to last two lifetimes, and new ways are being developed to make it into a liquid fuel. But the two of these (tar sands & caol) are dwarfed by the amount of fuel available in with methane hydrates. Microscopic animals in off shore ocean floors produce methane. At pressures and cold temperatures produced at depths of 300 - 800 meters the methane reacts with the water to form methane hydrate which is a crystalline (ice) and accumulates over time. And it has been accumulating for 10's of millions of years. It is estimated that there is enough methane to fuel the present WORLD consumption for 2,000 YEARS. Even with the increasing rate of consumption due to China, India and other areas of the world, it will still be able to supply our energy needs for 500 to a thousand years. So far we don't know the best and safest way to extract it, but Japan is studing how to do this and now so is America and Europe. I will take time to work that out, but in the meantime the tar sands are starting to produce oil. So far only by mining it or dissolving it with steam, wich can only extract about 15% of the known oil in the oil sands, but even today, new ways to extract it are being developed, so it is just a matter of time untill the oil sands production picks up. So it is true that regular oil fields have reached their peak, but the new alternative energy supplies are just starting to be developed, so all may not be lost.
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Looks like another record for Crude today. The beginning of the end I say! Eventually it will hit a point and the economy will go into recession although people will just keep charging. Everything will catch up to us and I think it will be ugly. That is just my opinion.
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Heard an interesting on a Naztional news show. Seem like, since back about 1970, every recession in the US economy followed immediately upon a spike in crude prices and the other way around. Cooincidence? A mite scary!
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