Democrats intent on destroying middle class with $11 gas

[Arraya]

My interest is predominantly in foreign policy,

The geopolitics of peak oil are what is scary. Hopefully nobody thinks that it is a coincidence that we are on top of the worlds largest oil reserve at this point in history and all of the current administration is from the oil industry.

Iraq was and is and energy policy.

Cheney from 1999 while with Halliburton.

Producing oil is obviously a self-depleting activity. Every year you’ve got to find and develop reserves equal to your output just to stand still, just to stay even. This is as true for companies as well in the broader economic sense it is for the world. A new merged company like Exxon-Mobil will have to
secure over a billion and a half barrels of new oil equivalent reserves every year just to replace existing production. It’s like making one hundred per cent interest; discovering another major field of some five hundred million barrels equivalent every four months or finding two Hibernias a year. For the world as a whole, oil companies are expected to keep finding and developing enough oil to offset our seventy one million plus barrel a day of oil depletion, but also to meet new demand. By some estimates there will be an
average of two per cent annual growth in global oil demand over the years ahead along with conservatively a three per cent natural decline in production from existing reserves. That means by 2010 we will need on the order of an additional fifty million barrels a day. So where is the oil going to come from? Governments and the national oil companies are obviously in control of about ninety per cent of the assets. Oil remains fundamentally a government business. While many regions of the world offer greet oil
opportunities, the Middle East with two thirds of the world’s oil and the lowest cost, is still where the prize ultimately lies, even though companies are anxious for greeter access there, progress continues to be slow

[Allan from Fallbrook]

arraya: You would seem to be the guy to ask a couple of questions on the subject of energy. You say we are sitting on the world’s largest reserve of oil. So, this is larger than, say, the fields in Saudi? Or, are am I thinking of something completely different (in terms of drilling, production, etc).

Also, I read somewhere that the world’s largest natural gas field was found in Utah. It is said to be larger than those found in Iran and Russia combined. Is natural gas therefore a viable alternative energy solution?

Lastly, where do you fall on nuke power? I’m a big fan of the French model, especially in light of their ability to provide some 80% of their energy through nuclear power, and with an enviable safety reocord to boot.

[Allan from Fallbrook]

arraya: You would seem to be the guy to ask a couple of questions on the subject of energy. You say we are sitting on the world’s largest reserve of oil. So, this is larger than, say, the fields in Saudi? Or, are am I thinking of something completely different (in terms of drilling, production, etc).

Also, I read somewhere that the world’s largest natural gas field was found in Utah. It is said to be larger than those found in Iran and Russia combined. Is natural gas therefore a viable alternative energy solution?

Lastly, where do you fall on nuke power? I’m a big fan of the French model, especially in light of their ability to provide some 80% of their energy through nuclear power, and with an enviable safety reocord to boot.

[Allan from Fallbrook]

arraya: You would seem to be the guy to ask a couple of questions on the subject of energy. You say we are sitting on the world’s largest reserve of oil. So, this is larger than, say, the fields in Saudi? Or, are am I thinking of something completely different (in terms of drilling, production, etc).

Also, I read somewhere that the world’s largest natural gas field was found in Utah. It is said to be larger than those found in Iran and Russia combined. Is natural gas therefore a viable alternative energy solution?

Lastly, where do you fall on nuke power? I’m a big fan of the French model, especially in light of their ability to provide some 80% of their energy through nuclear power, and with an enviable safety reocord to boot.

[Allan from Fallbrook]

arraya: You would seem to be the guy to ask a couple of questions on the subject of energy. You say we are sitting on the world’s largest reserve of oil. So, this is larger than, say, the fields in Saudi? Or, are am I thinking of something completely different (in terms of drilling, production, etc).

Also, I read somewhere that the world’s largest natural gas field was found in Utah. It is said to be larger than those found in Iran and Russia combined. Is natural gas therefore a viable alternative energy solution?

Lastly, where do you fall on nuke power? I’m a big fan of the French model, especially in light of their ability to provide some 80% of their energy through nuclear power, and with an enviable safety reocord to boot.

[Allan from Fallbrook]

arraya: You would seem to be the guy to ask a couple of questions on the subject of energy. You say we are sitting on the world’s largest reserve of oil. So, this is larger than, say, the fields in Saudi? Or, are am I thinking of something completely different (in terms of drilling, production, etc).

Also, I read somewhere that the world’s largest natural gas field was found in Utah. It is said to be larger than those found in Iran and Russia combined. Is natural gas therefore a viable alternative energy solution?

Lastly, where do you fall on nuke power? I’m a big fan of the French model, especially in light of their ability to provide some 80% of their energy through nuclear power, and with an enviable safety reocord to boot.

[jficquette]

Arraya,

For every link you present supporting peak oil I can find one that saids its a myth.

Consider that Peak Oil is based on the theory that all the oil we have has been found and that we can do nothing about demand.

John

http://www.investmentu.com/IUEL/2007/20070122.html

http://mises.org/story/1717

http://blog.mises.org/archives/005892.asp

http://www.libertyunbound.com/archive/2005_12/otoole-oil.html

[jficquette]

Arraya,

For every link you present supporting peak oil I can find one that saids its a myth.

Consider that Peak Oil is based on the theory that all the oil we have has been found and that we can do nothing about demand.

John

http://www.investmentu.com/IUEL/2007/20070122.html

http://mises.org/story/1717

http://blog.mises.org/archives/005892.asp

http://www.libertyunbound.com/archive/2005_12/otoole-oil.html

[jficquette]

Arraya,

For every link you present supporting peak oil I can find one that saids its a myth.

Consider that Peak Oil is based on the theory that all the oil we have has been found and that we can do nothing about demand.

John

http://www.investmentu.com/IUEL/2007/20070122.html

http://mises.org/story/1717

http://blog.mises.org/archives/005892.asp

http://www.libertyunbound.com/archive/2005_12/otoole-oil.html

[jficquette]

Arraya,

For every link you present supporting peak oil I can find one that saids its a myth.

Consider that Peak Oil is based on the theory that all the oil we have has been found and that we can do nothing about demand.

John

http://www.investmentu.com/IUEL/2007/20070122.html

http://mises.org/story/1717

http://blog.mises.org/archives/005892.asp

http://www.libertyunbound.com/archive/2005_12/otoole-oil.html

[jficquette]

Arraya,

For every link you present supporting peak oil I can find one that saids its a myth.

Consider that Peak Oil is based on the theory that all the oil we have has been found and that we can do nothing about demand.

John

http://www.investmentu.com/IUEL/2007/20070122.html

http://mises.org/story/1717

http://blog.mises.org/archives/005892.asp

http://www.libertyunbound.com/archive/2005_12/otoole-oil.html

[Arraya]

You would seem to be the guy to ask a couple of questions on the subject of energy. You say we are sitting on the world’s largest reserve of oil. So, this is larger than, say, the fields in Saudi? Or, are am I thinking of something completely different (in terms of drilling, production, etc).

They just recently upped the URR (Ultimate recoverable reserves) to 350 billion, surpassing SA. Don’t have the link. It was like 2 or 3 weeks ago.

Also, I read somewhere that the world’s largest natural gas field was found in Utah. It is said to be larger than those found in Iran and Russia combined. Is natural gas therefore a viable alternative energy solution?

Not sure about the Utah claim. Natural gas is a little tricky in determining reserves as it does not taper off like oil and harder to measure.

There is a lot of conflicting data on this. To put another way: There are a lot of companies that would like investments so the make claims. Here is a good study nat gas

http://www.theoildrum.com/node/3673

Lastly, where do you fall on nuke power? I’m a big fan of the French model, especially in light of their ability to provide some 80% of their energy through nuclear power, and with an enviable safety reocord to boot.

Nuclear is only a energy bridge and will cause it’s own geo-political tensions as it is finite as well but I am all for it. Yes, France does have a good model.

[Arraya]

You would seem to be the guy to ask a couple of questions on the subject of energy. You say we are sitting on the world’s largest reserve of oil. So, this is larger than, say, the fields in Saudi? Or, are am I thinking of something completely different (in terms of drilling, production, etc).

They just recently upped the URR (Ultimate recoverable reserves) to 350 billion, surpassing SA. Don’t have the link. It was like 2 or 3 weeks ago.

Also, I read somewhere that the world’s largest natural gas field was found in Utah. It is said to be larger than those found in Iran and Russia combined. Is natural gas therefore a viable alternative energy solution?

Not sure about the Utah claim. Natural gas is a little tricky in determining reserves as it does not taper off like oil and harder to measure.

There is a lot of conflicting data on this. To put another way: There are a lot of companies that would like investments so the make claims. Here is a good study nat gas

http://www.theoildrum.com/node/3673

Lastly, where do you fall on nuke power? I’m a big fan of the French model, especially in light of their ability to provide some 80% of their energy through nuclear power, and with an enviable safety reocord to boot.

Nuclear is only a energy bridge and will cause it’s own geo-political tensions as it is finite as well but I am all for it. Yes, France does have a good model.

[Arraya]

You would seem to be the guy to ask a couple of questions on the subject of energy. You say we are sitting on the world’s largest reserve of oil. So, this is larger than, say, the fields in Saudi? Or, are am I thinking of something completely different (in terms of drilling, production, etc).

They just recently upped the URR (Ultimate recoverable reserves) to 350 billion, surpassing SA. Don’t have the link. It was like 2 or 3 weeks ago.

Also, I read somewhere that the world’s largest natural gas field was found in Utah. It is said to be larger than those found in Iran and Russia combined. Is natural gas therefore a viable alternative energy solution?

Not sure about the Utah claim. Natural gas is a little tricky in determining reserves as it does not taper off like oil and harder to measure.

There is a lot of conflicting data on this. To put another way: There are a lot of companies that would like investments so the make claims. Here is a good study nat gas

http://www.theoildrum.com/node/3673

Lastly, where do you fall on nuke power? I’m a big fan of the French model, especially in light of their ability to provide some 80% of their energy through nuclear power, and with an enviable safety reocord to boot.

Nuclear is only a energy bridge and will cause it’s own geo-political tensions as it is finite as well but I am all for it. Yes, France does have a good model.

[Arraya]

You would seem to be the guy to ask a couple of questions on the subject of energy. You say we are sitting on the world’s largest reserve of oil. So, this is larger than, say, the fields in Saudi? Or, are am I thinking of something completely different (in terms of drilling, production, etc).

They just recently upped the URR (Ultimate recoverable reserves) to 350 billion, surpassing SA. Don’t have the link. It was like 2 or 3 weeks ago.

Also, I read somewhere that the world’s largest natural gas field was found in Utah. It is said to be larger than those found in Iran and Russia combined. Is natural gas therefore a viable alternative energy solution?

Not sure about the Utah claim. Natural gas is a little tricky in determining reserves as it does not taper off like oil and harder to measure.

There is a lot of conflicting data on this. To put another way: There are a lot of companies that would like investments so the make claims. Here is a good study nat gas

http://www.theoildrum.com/node/3673

Lastly, where do you fall on nuke power? I’m a big fan of the French model, especially in light of their ability to provide some 80% of their energy through nuclear power, and with an enviable safety reocord to boot.

Nuclear is only a energy bridge and will cause it’s own geo-political tensions as it is finite as well but I am all for it. Yes, France does have a good model.

[Author]

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