Oil: The Next Revolution: The Unprecedented Upsurge of Oil Production Capacity and What It Means for

Oil: The Next Revolution: The Unprecedented Upsurge of Oil Production Capacity and What It Means for the World

belfercenter.ksg.harvard.edu

Contrary to what most people believe, oil supply capacity is growing worldwide at such an unprecedented level that it might outpace consumption. This could lead to a glut of overproduction and a steep dip in oil prices.

(visit the link for the full news article)


Related News Links:
belfercenter.ksg.harvard.edu
www.stuff.co.nz

Well well well (sic )....who'd a thunk it - "former" oil company executive Leonardo Maugeri says it ain't true - prices wil fall......peak oil, etc., is all just a con (I guess)...

From the "stuff" news website in teh 2nd link:

Unsurprisingly, a recent report from the US National Petroleum Council backs the findings of Maugeri. It says petrol and diesel engines: "are likely to be the dominant propulsion systems for decades to come, with liquid fuel blends continuing to play a significant, but reduced role".

Now there's some sense in that - liquid fuel is still the most concentrated form of energy we have, so it is always going to have some use - even if we have to grow it rather than drill it......but this does sort of smack of "let's try to keep it at the forefront as long as possible and delay and possible alternatives, 'cos that way we make moer money...."-ism.

belfercenter.ksg.harvard.edu
(visit the link for the full news article)

Personaly, I believe that they (the oil companies) believe that their is a lack of oil.....a lack of unclaimed oil.

They make huge profits of finding new oil reserves, because once, say, the US finds/obtains a new oil reserves, they can then sell it, to lets say, Texico. When Texico buys this oil, their share prices go up, because, well, they have more oil, simple.

Now they have all claimed all possible oil supplies within their territory, it's harder to do this, so, they go abroad and steal theirs (Iraq for example) so that the US can sell it to Texico, and the whole cycle continues.

Now, if they are running out on unclaimed oil, what is the logical step to make profit of what little (unclaimed) oil is left? Rack up the prices.

The more oil a company has, the more expencive their share prices are.

reply to post by Aloysius the Gaul


The problem is the discussion is always potential oil sources such as shale and sand. None of these sources ever give the amount estimated. They are also expensive, you will pay a premium for them. Most of the growth in production has been in non-traditional crude sources.
blog.chron.com...

Check that chart on the bottom.

In other words, now would be a really good time to invest oil companies. The smaller the better, they'll be part of the conglomerates soon enough.The big boys will have it all. Lighthouse Petroleom - LHPT, Paradigm Oil and Gas - PDGO, those are small time, anyone have any others? You know what they say, if you can't beat em join 'em.

reply to post by Hiasyouwant


I purchased shares of MMP a while back and it's gone up over 60% for me. Maggellen Midstream Partners

Well I wish they would hurry up and bring the damned pump prices down!

Problem I see is that they'll keep using the following two arguments to keep the prices higher:

1: Cost of refining is getting more expensive
2: Exchange rate always working against us

Currently paying $2.16 a liter (US$1.75) here in New Zealand (that's US$6.62 per gallon)

reply to post by SpaceJockey1


Prices here in the US are likely to go down before November election, because that will help Obama win again.
It's all a racket!
There probably isn't a shortage of Oil and never was. I wouldn't be surprised.

Maybe it will soon sink in then that putting your food in your tank is a fools errand when it is so much easier and cheaper pulling it out of the ground