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Pandemic or not, one day oil will cost more to produce than sell. There are technologies that already exist that could've killed the oil industry but were shoved away in order to prop up oil. There are so many energy sources that could've gave near infinite energy but instead we are burning fossil fuel for the last 200 years.
Thats because many of the alternatives cannot be run thru a meter and be sold to the public. the global economy relies on a fuel source that be run thru a meter and sustain a large industry behind it.
**One of the factors the patent office uses to determine whether or not to suppress a 'technology/invention (Invention Secrecy Act of 1951), is if it would negatively impact existing industries.The patent office claims they have suppressed over 50K technologies/inventions using the ISA since its creation!!!
President Donald Trump said Monday the U.S. is “looking” to add as many as 75 million barrels of oil to the Strategic Petroleum Reserve, after an historic day for markets that saw crude prices turn negative.
President Donald Trump said Monday the U.S. is “looking” to add as many as 75 million barrels of oil to the Strategic Petroleum Reserve, after an historic day for markets that saw crude prices turn negative.
You can't store this stuff in a basement. It will take time to build the extra storage capacity, provided it is found worthwhile to do so in the first place.
It's 20 Saudi tankers carrying 40B barrels, scheduled to arrive here in early May. Some of the load was previously contracted for, but I haven't been able to find how much, at what price, or any other pertinent contract terms (like force majeure).
I think you meant 40M, not 40B.
Quote:
Originally Posted by rstevens62
Thats because many of the alternatives cannot be run thru a meter and be sold to the public. the global economy relies on a fuel source that be run thru a meter and sustain a large industry behind it.
**One of the factors the patent office uses to determine whether or not to suppress a 'technology/invention (Invention Secrecy Act of 1951), is if it would negatively impact existing industries.The patent office claims they have suppressed over 50K technologies/inventions using the ISA since its creation!!!
More like 5,000, and the act applies to inventions that threaten national security, not the businesses of existing companies.
Quote:
Originally Posted by mascoma
I wonder if there are more caverns somewhere to enlarge the reserve.
No. The caverns have to be built by pumping water into a salt dome to dissolve the salt to make a cavern. That takes time, and the salt water has to be disposed of somewhere.
Thats because many of the alternatives cannot be run thru a meter and be sold to the public. the global economy relies on a fuel source that be run thru a meter and sustain a large industry behind it.
**One of the factors the patent office uses to determine whether or not to suppress a 'technology/invention (Invention Secrecy Act of 1951), is if it would negatively impact existing industries.The patent office claims they have suppressed over 50K technologies/inventions using the ISA since its creation!!!
Well I guess we need to invent a unicorn fart energy meter
Pandemic or not, one day oil will cost more to produce than sell. There are technologies that already exist that could've killed the oil industry but were shoved away in order to prop up oil. There are so many energy sources that could've gave near infinite energy but instead we are burning fossil fuel for the last 200 years.
Rockefeller knocked off the guy that had cold fusion down in the 1820's apparently....
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