Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Peak oil anyone? Heard of that? You know, we past it in 2005.
Yes, by the guys projecting $15 a gallon gasoline by the summer of 2009. Over and over and over.
No question that Peak Oil exists but many of the pontifications about it are so economically simplistic it's laughable and then uneducated buffoons latch onto the topic and start making funny statements.
Most of those statements are made assuming that demand does not react to price increases and that higher prices can also impact supply as lower grade or harder to extract sources are tapped.
Peak oil is real, unfortunately the topic is over-run by people ill-equipped for the topic. It's like a driving school for 15 year olds where the only vehicles available are 600HP super cars with manual transmissions. zoom zoom.
Lucky you . It's about $7.20 a gallon in the UK and most of Europe. At the exchange rate last year for us it would have been $9.00 a gallon for you guys. We can but dream of $3.00...
The damage was already done and prices were already out of control when Obama became president. Your idiot boy Dubya saw to that.
Honestly, you righties might as well blame 9/11 on Obama. Makes as much sense.
So its Bushes fault gas prices are going up now. even though pelosi was going after those oil companies. The thing about this is the America public will not buy this line. It worked as a political ploy but Bush is out of office Obama is in charge gas prices are going up .
Yes, by the guys projecting $15 a gallon gasoline by the summer of 2009. Over and over and over.
No question that Peak Oil exists but many of the pontifications about it are so economically simplistic it's laughable and then uneducated buffoons latch onto the topic and start making funny statements.
Most of those statements are made assuming that demand does not react to price increases and that higher prices can also impact supply as lower grade or harder to extract sources are tapped.
Peak oil is real, unfortunately the topic is over-run by people ill-equipped for the topic. It's like a driving school for 15 year olds where the only vehicles available are 600HP super cars with manual transmissions. zoom zoom.
I take it you're referring to Robert Hirsch, Matthew Simmonds etc? Hirsh in particular is no uneducated buffon (check his CV online!) If it hadn't been for the recession their predictions aren't too far off the mark. How high crude oil prices can go before they start to cause serious economic impacts is unknown, but most likely we'll see sharp price spikes followed by recessions from here on. Also oil demand is pretty inelastic, as there are no immediate substitutes and conservation can only do so much. Alternative sources, while becoming economicaly viable with sustained (this is very important btw) high prices, they won't make a dent in the overall decline of supply expected.
The price of oil is controlled and manipulated by cartels and speculators in the financial markets. Even "supply and demand" gets trumped by those groups.
Nether Bush I, Clinton, Bush II, or Obama can really "do" anything about it other then talk tough and posture.
I take it you're referring to Robert Hirsch, Matthew Simmonds etc? Hirsh in particular is no uneducated buffon (check his CV online!) If it hadn't been for the recession their predictions aren't too far off the mark. How high crude oil prices can go before they start to cause serious economic impacts is unknown, but most likely we'll see sharp price spikes followed by recessions from here on. Also oil demand is pretty inelastic, as there are no immediate substitutes and conservation can only do so much. Alternative sources, while becoming economicaly viable with sustained (this is very important btw) high prices, they won't make a dent in the overall decline of supply expected.
1. Demand elasticity is indeed fairly inelastic but can have major impacts on short term prices due to the supply side. A 5% reduction in driving can leave a lot of product in the system with limited storage capability...they have to move that product. I think its key that people learn to differentiate between what short and long terms mean.
2. High crude prices causing recessions that in turn limit crude price increases was exactly my point in my previous post. That was exactly my point as to what guys like Simmons and Hirsch have been taken out of context over and\or missed the boat to some extent.
3. I disagree with there being no "immediate" substitutes when you take into account the 5-10 year price timeframes that some of these guys are using. There are tons of substitutes or alternative more expensive to extract sources.
4. Hirsh makes the sage comment that oil prices will swing wildly over the next 5 years but will be "up" in general. This is a wise statement and in fact he does NOT MAKE HIS OWN PRICE PREDICTIONS. This doesn't stop the average 20 year old moron that works at subway from posting about gas being $15 a gallon in 2009 because he read Hirsch's work on "peak oil" while smoking a fatty at 2 AM the night before.
The price of oil is controlled and manipulated by cartels and speculators in the financial markets. Even "supply and demand" gets trumped by those groups.
Nether Bush I, Clinton, Bush II, or Obama can really "do" anything about it other then talk tough and posture.
Correct for the most part.
The argument earlier in the thread was Why was Bush bashed for high gas prices yet they have climbed back to $3 under Obama and there is not a peep.
She was going after those big bad oil companies and get those prices down for the American people.
Well Nancy, what happened?
You do not even talk about those oil companies anymore.
Or was that just another scam job by a leftist?
Can anyone tell me what she has done to those oil companies or tell me anything that the woman has accomplished in 3 years?
Can you tell me what the witch has accomplished. Besides, looking SMUG, i hate that look, hate it. The whole lot is a joke, the Joker Bunch.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
