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I don't really know how to break the news. The permian basin and the bakken field are both in decline. Tight oil reserves rapidly decline, particularly when mass quantity production is necessary to pay off interest. See, one of the problems with low interest rates is that everything is "cheap."
But the problem is the price tag and not the payment. The price tag is what's going to get everyone in the end. The price tag is death. It's that simple.
Peak oil is a reality. Peak oil says not that there is no oil, but that there is only so much oil remaining that can be economically extracted. Of course technology does play into this, but a simple look at the income statements of tight oil providers will show that they are bleeding red, so technology has not proven to be the godsend that everyone sees to assume that it is. If that was the case, production would not be declining.
It is possible that there are untapped fields in places like central Asia and Russia that are unreported, but could provide decades of oil, but it is unlikely that the oil will be priced as cheaply as it is now due to increased global demand, as well as increasingly scarce resources, driven by a system that thrives on unrelenting growth, which is exacerbated through technology.
The truth is, we haven't focused on infrastructure that is sustainable. We haven't focused on true energy independence because in a couple of years, at current production rates, US oil fields will be essentially drained, leaving US citizens to be reliant on foreign nations for subsistence.
Promises were made in this election for infrastructure. Nothing has been done. What is going on? Why are these people still in Congress?
Do you not understand that this is currently not sustainable. We have to move forward and put our resources together to build sustainable technology and reduce our consumption. There are lot of things that could be done immediately to make an impact, even in the replacement of some crops; however, people will have to realize that this will mean that ultimately, there will be less choices.
Well, I suppose while the law would be restrictive, emphasis has to be put on building sustainable technology. This should be something as people that we want, so it really shouldn't have to come to this. Right now, we are being incredibly selfish. For those of us who have children in this world and think to ourselves that the future is bleak, don't we owe it to our children to create a better path?
The oil crisis is only the beginning. Perhaps it will be the catalyst, but perhaps not. Either way, there is a high probability that there will be an oil shock in the near future. We can only pray that it's not the oil shock because we are woefully unprepared.
I don't think I need to go into detail about what will happen to pension funds, 401ks, real estate prices, and retail, just off the top of my head. This is serious. We can ignore this or we can force our politicians to work in our best interests. Unfortunately, they are reflection of society, so we can only blame ourselves.
I care very little about infrastructure handouts for big oil. I completely agree we need sustainable (hopefully clean) solutions to our energy needs, and I do think we are not doing enough currently. Oil prices will skyrocket well before we run out - and at that point, if we are not off of oil, we'll have serious problems.
Hopefully China doesn't fall behind on this. They are going to be the leaders of the future, I predict - we have essentially allowed that to happen by falling behind on this issue.
Regarding today's infrastructure and Trump: I want infrastructure that regular Americans use daily. Trains, subways, roads, bridges, planes, etc.
It's clear that Trump has little interest in that kind of infrastructure...sadly. But I am willing to listen to him if he has a plan!
Last edited by HockeyMac18; 10-11-2017 at 08:39 PM..
Exaggerate much? I've read that we have about 70 years worth of oil reserves. Yes, something we should be preparing for, but fake news destroys your credibility.
Quote:
Right now, we are being incredibly selfish. For those of us who have children in this world and think to ourselves that the future is bleak, don't we owe it to our children to create a better path?
If you really cared about your children, you wouldn't have conceived them. Yes, you are being incredibly selfish. Your children deserve the resources of the Earth, but others should be cutting back.
Article 1 Section 8 of the Constitution lists the 18 enumerated powers of the federal government. The only infrastructure they are empower to spend on is post roads. Basically the interstate system and US highways.
Exaggerate much? I've read that we have about 70 years worth of oil reserves. Yes, something we should be preparing for, but fake news destroys your credibility.
If you really cared about your children, you wouldn't have conceived them. Yes, you are being incredibly selfish. Your children deserve the resources of the Earth, but others should be cutting back.
Fake news?
Look up current consumption rates and then look up proven reserves in the US. Look at the EIA website. https://www.eia.gov/
I believe I calculated slightly over 5 years of oil, if we were forced to rely on our own resources to fulfill our current consumption needs, which rise every year, despite "green" alternatives.
I don't really know how to break the news. The permian basin and the bakken field are both in decline. Tight oil reserves rapidly decline, particularly when mass quantity production is necessary to pay off interest. See, one of the problems with low interest rates is that everything is "cheap."
But the problem is the price tag and not the payment. The price tag is what's going to get everyone in the end. The price tag is death. It's that simple.
Peak oil is a reality. Peak oil says not that there is no oil, but that there is only so much oil remaining that can be economically extracted. Of course technology does play into this, but a simple look at the income statements of tight oil providers will show that they are bleeding red, so technology has not proven to be the godsend that everyone sees to assume that it is. If that was the case, production would not be declining.
It is possible that there are untapped fields in places like central Asia and Russia that are unreported, but could provide decades of oil, but it is unlikely that the oil will be priced as cheaply as it is now due to increased global demand, as well as increasingly scarce resources, driven by a system that thrives on unrelenting growth, which is exacerbated through technology.
The truth is, we haven't focused on infrastructure that is sustainable. We haven't focused on true energy independence because in a couple of years, at current production rates, US oil fields will be essentially drained, leaving US citizens to be reliant on foreign nations for subsistence.
Promises were made in this election for infrastructure. Nothing has been done. What is going on? Why are these people still in Congress?
Do you not understand that this is currently not sustainable. We have to move forward and put our resources together to build sustainable technology and reduce our consumption. There are lot of things that could be done immediately to make an impact, even in the replacement of some crops; however, people will have to realize that this will mean that ultimately, there will be less choices.
Well, I suppose while the law would be restrictive, emphasis has to be put on building sustainable technology. This should be something as people that we want, so it really shouldn't have to come to this. Right now, we are being incredibly selfish. For those of us who have children in this world and think to ourselves that the future is bleak, don't we owe it to our children to create a better path?
The oil crisis is only the beginning. Perhaps it will be the catalyst, but perhaps not. Either way, there is a high probability that there will be an oil shock in the near future. We can only pray that it's not the oil shock because we are woefully unprepared.
I don't think I need to go into detail about what will happen to pension funds, 401ks, real estate prices, and retail, just off the top of my head. This is serious. We can ignore this or we can force our politicians to work in our best interests. Unfortunately, they are reflection of society, so we can only blame ourselves.
"The truth is, we haven't focused on infrastructure"
FIRST, you have to tell us what YOU mean by "infrastructure".
I care very little about infrastructure handouts for big oil. I completely agree we need sustainable (hopefully clean) solutions to our energy needs, and I do think we are not doing enough currently. Oil prices will skyrocket well before we run out - and at that point, if we are not off of oil, we'll have serious problems.
Hopefully China doesn't fall behind on this. They are going to be the leaders of the future, I predict - we have essentially allowed that to happen by falling behind on this issue.
Regarding today's infrastructure and Trump: I want infrastructure that regular Americans use daily. Trains, subways, roads, bridges, planes, etc.
It's clear that Trump has little interest in that kind of infrastructure...sadly. But I am willing to listen to him if he has a plan!
"I want infrastructure that regular Americans use daily. Trains, subways, roads, bridges, planes, etc.
It's clear that Trump has little interest in that kind of infrastructure...sadly"
To me, those items you listed are LOCAL infrastructure issues NOT national.
What did the LOCAL politicians do with the tax money they collected to MAINTAIN those items?
Why should I pay for the problems your LOCAL politicians created?
The problem was solved with a 2007 report? Lol. What is the problem and how was it solved? Why don't you elaborate?
Do you even know what you're talking about?
Are you purposely trying to lie to these people or do you just like to argue for the sake of arguing? I don't understand why you would post a 2007 report.
After you define the problem, explain how this report solves it.
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