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Originally posted by xman_in_blackx
As I read this, my heart sank. It discussed the end of cheap oil for the US and how that alone will change it forever. Once we reach the peak of oil production, we will start to see the price of oil skyrocket due to the fact that everyone knows that we are close to the end of the supply.
No one doubts that fossil fuels are subject to depletion and that depletion leads to scarcity, which in turn leads to higher prices; however, there are many resources that are not heavily exploited because they cannot be produced economically at low prices and with existing technologies. With higher prices, the development of such resources could become profitable. Ultimately, a combination of escalating prices and technological enhancements can make more resources economical. Much of the pessimism about oil resources has been focused entirely on conventional resources. However, there are substantial nonconventional resources, including production from oil sands, ultra-heavy oils, gas-to- liquids technologies, coal-to-liquids technologies, biofuel technologies, and shale oil, which can serve as a buffer against prolonged periods of very high oil prices. Total nonconventional liquids production in 2025 is projected to be 5.7 million barrels per day in the reference case, up from 1.8 million barrels per day in 2003.
Reviewing and Reforming Sanctions
Economic sanctions include U.S. unilateral sanctions as well as multilateral sanctions, such as United Nations (UN) Security Council Resolutions. Sanctions can advance important national and global security objectives and can be an important foreign policy tool, especially against nations that support terrorism or seek to acquire weapons of mass destruction. Nevertheless, sanctions should be periodically reviewed to ensure their continued effectiveness and to minimize their costs on U.S. citizens and interests.
Originally posted by skippytjc
Its starting baby!!
"DETROIT (Reuters) - General Motors Corp. Wednesday said it signed an $88 million deal with the Department of Energy to build a fleet of 40 hydrogen fuel cell vehicles and further develop the technology..."
When the US drops its dependancy on middle eastern oil, the whole region will dry up into a desert sink hole. They will beg the rest of the world for aid as they export nothing else of value. Harsh? Yes, but 100% true.
First hybrids, then hydrogen powered. Its coming people, and soon too. Once oil demand is reduced to almost nothing, so will the middle east...
Originally posted by Lyriox
You could use all the alternative resources you want, like solar power, hydrogen cells, but the fact is they're not enough to supply us with the amount of energy that oil gives us.
Remarks by Chairman Alan Greenspan
In the more distant future, perhaps a generation or more, lies the potential to develop productive capacity from natural gas hydrates. Located in marine sediments and the Arctic, these ice-like structures store immense quantities of methane. Although the size of these potential resources is not well measured, mean estimates from the U.S. Geological Survey indicate that the United States alone may possess 200 quadrillion cubic feet of natural gas in the form of hydrates. To put this figure in perspective, the world's proved reserves of natural gas are on the order of 6 quadrillion cubic feet.
Originally posted by syntaxer
Please consider that our government heavily depends on 'gas taxes' to forward our economy and infrastructure costs etc. To simply suggest that battery or hydrogen operated automobile engines would "crush" other nations who heavily depend on oil exporting are completely wrong!
Our government is currently researching GPS logging technologies to track mileage so if in fact one day hydrogen cars are mainstream, they'll continue on taxing our existence to death per the mile..
Freedom, but with a noose huh?
Originally posted by xman_in_blackx
I would imagine that most people in the US would approve unanimously of a war being fought to keep gasoline cheap and their way of life the same as it has been for the last century.
CAMBRIDGE, Mass., June 21, 2005 – Despite current fears that oil will soon “run out,” global oil production capacity is actually set to increase dramatically over the rest of this decade, according to a new report by Cambridge Energy Research Associates (CERA). As a result, supply could exceed demand by as much as 6 to 7.5 million barrels per day (mbd) later in the decade, a marked contrast to the razor-sharp balance between strong demand growth and tight supply that is currently reflected in high oil prices hovering around $60 a barrel.
Jackson and Esser argue that “unconventional” oil will play a much larger role in the growth of supply than is currently recognized. These unconventional oils include condensates, natural gas liquids (NGLs), extra heavy oils (such as Canadian oil sands), and the ultra-deepwater (greater than 2,500 feet deep). By 2020, they could be almost 35 percent of supply.