http://www.doi.gov/news/08_News_Releases/080722.html John WASHINGTON, D.C. -- The Department of the Interiorâs Bureau of Land Management today published proposed regulations to establish a commercial oil shale program that could result in the addition of up to 800 billion barrels of recoverable oil from lands in the western United States.
fantastic. this rock looks almost like diesel to me... do you have an idea how much it costs to process oil shale and what are the enviromental impacts of using it? we are talking here about atmosphere similar to planet venus...lol.
Oh, you dumb%$^&, you.... [shaking head] The only reason we are talking about oil SHALE, because CRUDE oil production is peaking. Now go educate yourself about peak coal (yes, it peaked too in the US), peak uranium, etc... The only thing that can not peak is people's stupidity... Also look up the rate of production and the (lack of) aviable water for oil shale...
because this is one of the worst ideas how to get out of energy crisis i guess it is going to happen + tax payers will have to subsidize it... i guess there will be a water pipeline from artic ice shields so the lack of water should be no problem (initially)...
Eric Sprott has made investors 28.6% annually for the last ten years based partly on a peak oil theory. Americans with their USD in his Canadian funds the last 5 years are pushing close to 40% returns. But I suppose this self-made billionaire is an idiot in comparison to the Market calls and dice throwing that we see on Elitetrader so regularly.
huge environmental probs with recovering the stuff also. The earth as a whole needs to just buck up and spend a shitload to shift to a hydrogen economy. It can never run out, and if you use solar, wind, geothermal, etc to produce it from water, it has zero effect on the environment (well, the windmills will make chowder of some birds). i would love to live long enough to see this, but its highly unlikely the earth will get there for a hundred years or so. Unless we have a global wide environmental collapse maybe. But then the 200 people left on earth will probably go back to hunting bison.
Your point has nothing to do with whether 'peak oil' resonates in truth, or not. Just because oil traders have made money off the oil trade being long doesn't prove peak oil theory as fact.
Last time I checked, the Market doesn't always care about the truth. Soros has admitted in the past that he would invest in a false pretence if he thought enough people would believe it. This is written explicitly in his books. It doesn't cover exactly your point about peak oil, but you see my point- people trade investment themes, rather than wait until the obvious is enshrined as fact. The trade is long gone by then.