The End of The Petroleum Age

So what are you saying?
The yanks are invading all the oil rich countries and taking control of the world via their captured oil resources?

The world saviour? Our ally? Our Friend is causing all this trouble?
Perish the thought, it just can't be....I won't believe it ;)

If what you said was true Wayne, they would have invaded Venezuela and Saudi Arabia. Although Hugo Chavez might think this actually did happen.

Why invade Venezuela and Saudi Arabia when you have good trading agreements and to a certain extent control with these countries?

Bush and the US do not have 'control' of Iran's vast oil reserves so you can see why he wants to invade.

It's all about the oil.

I differ, Iran needs money from selling its oil and America (and the rest of the world) need it. He doesn't need to invade Iran to get he just buys it like everyone else. Iran is about nuclear weapons and the move by Iran to acquire.....

Oil won't pail into insignificance as an issue if Iran has nuclear capacity..

Hi PajeroTD,
That's the difference between invading and being invasive. The yanks need the Saudis onside and Venezuela is just next door so they can trade with them for certain benefits and concessions. So they become a part of their everyday lives with Maccas and coke etc. Thats invasive but non-threatening behaviour.

Whereas the raqs and rans are terrorist run extremist regimes which should be invaded, supressed and pillaged to maximise available benefits. And if you can spin a good yarn about their inherent threat to mankind with WMD and Nuclear (or is that nucular) armaments hey the rest of us will fall in line.

Then you control the oil and hold the world to ransome....but of course this is only conjecture and theory on my part. Just a mental exercise.

G'day Darian

Like you I found the interview to be quite sobering. About a month back a forumite - "Landy" I think - suggested we (i.e. 4WD travellers) should all be thinking about the long term outcomes of continuing high and increasing costs of fuel. It's not only about the cost of fuel.

Cheers
John

1.Who proved that oil is in short supply?

2.The price goes up because someone said supply is short

3.How do you know supply is short?
because the price went up

4.Why did the price go up?
Because supply is short

5. Back to 3.


Regards
Mike

Yep...that sums it up. Along the same theme, the US non-farm payroll data is one of the most speculated on pieces of monthly data comin out of the US. Economist pick a number as to what they think it will be and huge bets are placed around the outcome, including your super money via investment managers.

How do they come up with the number? I mean pick a number....keeps me in a job though....

HI Kiwi Kia,

Its true that there are vast supplies of oil sands and shale oils all over the world. But it is unlikely these will will ever replace the readily accessible oils of the oil fields of the middle east.
These alternatives will only complement supply and not be in sufficient quantities to offset ultimate falling production from the OPEC countries?
The use of shale oil and oil sands to produce crude oil has a high environmental cost – eg to produce 1 barrel of oil from oil sands takes 4.5 barrels of clean water plus enormous amounts of energy. The planet simply does not have enough clean water to process all the oil sands and shale deposits. And then what do you do with the huge lakes of polluted water from the extraction process?
Look what happened to the hundreds of millions of dollars invested in the Rundle Shale Oil project at Gladstone in Queensland. Receivers can only get scrap value for it now. Greenpeace and other environmental groups were the final death knoll for Rundle (after huge costs overruns) as no refinery would take their output for fear of losing market share due to consumer boycotts etc. What I am saying is there are massive environmental costs associated with extracting oil from shale and oil sands as well as huge energy requirements. I doubt these will ever supply anymore than a comlimentary oil supply.

Cheers,
Glen