Proven Oil Reserves UnTapped residents of Alabama and surrounding states have had oil reserves proven on their properties since the 1950's and no drilling or accessing has occurred since.... this is one of the worse, best kept secrets in the industry... why? The residents/ land owners are not those whom the oil Industry care to enrich. So we all suffer over less supply.... So we all suffer through further market speculation over Iran and their nuclear capacity and constrictions in the marketplace over supplies.... So we all suffer...
coal liquefication can work and could produce fuel competitive at (wild ass guess) $6/gallon. But it is catstrophic climate crack. You end up making substantially more CO2 injected into the atmosphere for every unit of useful fuel compared to pumping Saudi's 72-virgin delight. Biofuels are mostly greenhouse neutral as they take in CO2 which is then emitted on combustion.
Sorry for the double post. What I believe in: 1) Massive biofuel expansion, including genetically modified crops. 2) massively increased fuel efficiency standards Require all spark-ignition engines be automatic flex-fuel (any gasoline/alcohol mix, tank per tank), exactly as is done in Brazil TODAY. Change old air pollution laws to meet new Diesel technology (urea sprayers). 3) banning most non-commercial use of trucks outside rural areas, or limiting them to 3000 miles a year (e.g. going camping.), unless they have far better fuel efficiency. For instance, hydraulic hybrids with diesel engines, and of the size used in Japan. 4) plug-in hybrids for urban areas (city driving); diesel for rural (good for hwy mileage). 5) nukes and wind and solar. Not or. 6) Most importantly: SCIENCE-BASED POLITICS, NOT JINGOISM-BASED FASCIST-BASED OR FAITH-BASED.
=========== Like Limitdown suggested , wrote both senators, about getting rid of ALL the unesssary gov regulations, which is the main problem in refinery bottlenecks. Also asked the Senaors to be honest enough like you were firewalker; and tell the American people its not thre greed of oil companies, the government makes more in taxes per gallon than oil companies do in profit . Supply & demand helps me with oil trends, also use less gas this year however dont play the blame game,like media does Not only is faith important, private sector is also.
Call me jaded, but I think that Congress could care less about the American people. Solution: start brewing your own moonshine!
No to worry: an imminent World War over control of the oil fields will significantly reduce global oil consumption. Of course, we could reduce oil demand by building nuclear power generating facilities, but because (repeat three times) NUKES KILL! we would much rather do it the old-fashioned way - by eliminating surplus oil consumers.
No, it is wrong. The traders are the problem in the short term. I said it above and repeat it here. There is no "right" to trade oil, ethanol, gas, etc. There is no "right" to create ETFs and new investment vehicles with a strategic commodity underlying. Unless the Bushies are willing to use political might to restrain trading in these strategic commodities, there is no hope of short term easing in price. Nixon would have known instinctively to send his henchmen to the regulators - particularly CFTC and stop the specs. Haven't we just seen 4 margin changes in Silver alone? Why not just cancel margin? Rescind any approval given to start this Oil ETF. Go to IB and any other brokers and clearers and ban them from offering the contracts. Then, muscle it the same way internationally. An example, the SMI contracts. An American can't trade certain items in Switzerland. I don't know why - maybe the reciprocal safeguards or tax treatments aren't in place; maybe the banks there never satisfactorally explained what happened to the Jews' money; who cares what the reason is -- the answer is No, you cannot speculate there... . Do the same with oil. Restrain access to the markets. Simple as that. Yesterday, after the bell I watched all financial TV interviews on oil. Not a one suggested the speculation contributes meaningfully to the runup. That's absurd. These IBs and hedge funds are falling all over themselves to ramp up commod trading activity. It's right there clear as day in their earnings reports and commentary. I defy any Nymex trader here to tell me how I'm wrong on this. Better still, tell me as traders what you would propose to implement what I suggest here - - for sake of argument. Come forward.
Stop using so much oil products............ Called supply and demand Get rid of your tank SUV............ reduce the number of Chinese and Indian population so they stop the strain on oil demand,,,,,,,,,, Simple stuff, not American politics, that is for stupid opinions IMHO
How does huge speculation work in oil markets to push prices well beyond supply and demand? On the open markets, crude is settled with physical delivery. Where is the oil going? Storage is maxing out and pretty small compared to consumption overall. Responding to another post: nuclear plants won't do a thing to lower oil consumption, almost no fixed electrical generating plant uses oil any more except local backups (e.g. diesel for hospitals). By far the most effective in terms of raw numbers is to increase the requirements on fuel efficiency. This is known to be possible because those kinds of vehicles already exist. Once you are at a fleet MPG of 40 or so the easy stuff has been picked off. Then you can seriously start ramping up biofuel expansion (because as peak oil starts to really hit it will happen).