SAUDI ARABIA RUNNING OUT OF OIL

Discussion in 'Wall St. News' started by freewilly, Jan 12, 2015.

  1. BSAM

    BSAM

    Buy less gas.
    Ride more bicycles.
    And, keep in mind, we're still paying $2 per gallon for something that is worth no more than 50 cents.
    $2 per gallon isn't a "bargain".
    It's a mind game.
    But, this is how lots of rich people get rich.
    And, don't get me started on another scam: insurance companies.
     
    #11     Jan 17, 2015
  2. loyek590

    loyek590

    well, where I live, they charge more for water than they do for gasoline. My grandfather would have a heart attack if he ever saw me buy a bottle of water. What's next, air? (I've paid for it to air up a tire, but never just to breath.)
     
    #12     Jan 17, 2015
  3. Whaaaaaattt? Insurance is a scam? Well we all have a choice-I like being the insurance company though
     
    #13     Jan 17, 2015
  4. loyek590

    loyek590

    so, you want to make a bet? I'll bet you $100,000 payable the day you die for $30 a month as long as you are alive (or until you finally give up betting with me.) True, the actuarial table says you will probably live a long time, but what if you get lucky and die early?
     
    #14     Jan 17, 2015
  5. Pekelo

    Pekelo

    Yes they have peaked and yes they are running out of oil, but everyone was too lazy to look up the data.

    [​IMG]

    "Diplomatic cables leaked during the United States diplomatic cables leak in 2011 revealed that Sadad al Husseini, former vice president of Saudi Arabia's oil monopoly Saudi Aramco, warned the US that the oil reserves in Saudi Arabia might in fact be 40% (300 billion barrels) lower than claimed."

    Let me know when they pass again 9.5 mbpd production...
     
    #15     Jan 17, 2015
  6. loyek590

    loyek590

    whatever, we peaked as soon as Henry Ford invented an automobile. We burn more in one day than it takes the earth a 100,000 years to produce. Do the math. Not sustainable.

    So we all agree we are screwed. Now we are just betting on how bad how soon.
     
    #16     Jan 17, 2015
  7. i960

    i960

    If oil ever actually does a peak oil will there even be a point speculating on it? Collectively we're so dependent on it for everything that I think we'd be in pretty deep doodoo if it goes 200-300$+.

    The bigger concern is if we have enough oil to bootstrap ourselves off of oil. Otherwise, back to the jungle!
     
    #17     Jan 17, 2015
  8. loyek590

    loyek590

    amazing isn't it, ever seen the movie Gone With the Wind. The lived pretty nice, fought a nationwide war, all without crude (or electricity for that matter.)
     
    #18     Jan 18, 2015
    Occam likes this.
  9. They even survived rubbish acting
     
    #19     Jan 22, 2015
  10. loik

    loik

    I thought Saudi Arabia is government?
     
    #20     Jan 22, 2015