You can drill as much as you want - gas will not become cheaper.

Take the bus ...

Whatever did happen to hydrogen cars?

I remember back in the 1990's that Arnold Schwarzenegger had his Hummer converted to Hydrogen and work was supposed to begin on Hydrogen stations to replace gas stations.

I guess the oil companies bought that shit up and shut it down too? Wouldn't surprise me.

Electric cars have been around for over a hundred years and they still aren't used.

Hell, the entire taxi cab fleet of New York City were electric cars in 1897!!!

And somehow, Detroit auto makers can't figure out how to do it right in 2012. lol

yet still the price of oil and liquids stays at historical highs, and goes down when the economy falters, and goes right back up when the economy strengthens - which appears to cause the economy to falter, again.

the so called "oil paradox" - if supply is sound, and EROI is not a factor, why does the economy falter when the barrel price jumps, as it has repeatedly since 2005?

and every little political squabble or storm sends the price up again.

and gas prices in the US were at a record high this past weekend, highest ever for a labor day.

for some reason reality is not going along with the approved storyline, which is that EROI doesn't matter, and depletion doesn't matter.

lets see what the future brings. we's all be happy if the republicans and the oil companies can bring back the cheap oil age.

why don't they? what's stopping them?

The technology for cellulosic ethanol is tricky to develop, and as a nation we have not really sought it. The EROI disaster of corn ethanol is suppressing ethanol as a liquid fuel option, and suppressing other liquids like methanol and butane.

They are making some interesting new breakthrus in hydrogen - but - as a nation we don't support it, and we have lost the ability and will to innovate.

As a nation, we have given up on new infrastructure development. Sure, we will build old technology like pipelies for oil or gas, but we have lost the ability to build new infrastructure like smart grids or hyrdogen transport.

We give the petro industry tax breaks for exploration - and they make a find, typically small, a billion barrels or so - then cap the well, because it's not cost effective to extract and bring to market at todays price levels.

Americans made the wrong choices 30 years ago, under Reagan, and we will be paying the price for that this century.

Does one really need to be able to choose what clothes they wear? I mean target jeans are as good as Lucky jeans right?

So it would take 12 years for all Americans to go from Gas Guzzling to fuel efficient cars. Unless they were pushed to by higher gas prices.

Good point.

Which is why they will not let the price drop. Good point.

Maybe when the US is flooded with foreign made alternative energy products someone might sit up and take notice.

I was told the film "Who Killed Roger Rabbit" was about how the oil companies bought the tram system and shut it down. True or not?

Actually, I think it was the auto and tire companies that bought the trams and shut them down.

Link to entire article.

Similar crime, wrong suspects.

Today in the world we live there are the options we have. There is no magic bullet, Government plans, Private Company plans that will change things. So if you want to cut your fuel bill, drive less, drive a smaller more fuel efficient car, buy a scooter or bike for local journeys. Odds are a lot of your journeys are short and around town, do you need an SUV?

Best of all walk there if you can.





Couldn't resist this one.



If you want to reduce your fuel bills, use less, go solar.

If you want to reduce your living costs, downsize the house, eat less or swap fillet for rump.

Waiting for something you have no control over to change for your better. Is a sane of lethargy or apathy.

Well you certainly have a different idea of reading comprehension. The article says pretty much the exact opposite of what you think it does. All petroleum leases come with work requirements so that companies can't squat on them doing nothing. Exxon was so incompetent that when they asked to sit on the discovery for another half decade they didn't even submit a development plan for after they finished sitting on it. If I was a shareholder I would be incensed at their incompetence. The "Obama administration" was saying HURRY UP not blocking it. FFS.
Every lease has staged commitments, seismic in year 2, one exploration well in year 3, another in year 4 and so on. Companies lose leases all the time so they can be re-leased to a company able to actually fulfil the work commitment and get the oil out. In this case they just got lazy and used to "greasing" the rules.

At any rate, they've been given a boot up the ass and the Interior has re-approved the lease for them... Not that you'll see much oil produced this decade from it..

And lets not get too hyperbolic, I'm invested in two oil drills right now looking for over a billion barrels of oil, one off the west coast of Africa and one off the East.

Here you go, hot stuff!

http://www.teslamotors.com/

I think it's a good thing gas prices go up, more room for me on the highway

I've only driven a small handful of times since after my drivers license expired in 1999. In my 6 years of driving from the ages of 16-22, I owned a Saab 900s, a Ford Bronco II, and a new Explorer for like 6 months. The Saab was my favorite but for the most part I find driving to be a pain in the ass.

Thats a truly insane, and uniquely politically warped, interpretation of that article.

The article says that Interior was pissed that Exxon wanted to sit on the find, and were delaying development, so they were going to take the lease back and give it to another company that would develop it faster, so that the US would start getting the royalties.

But, like many of the new finds, its a small find in deep water, and the risks and the costs involved in developing it are huge. We simply do not yet know if deepwater finds like this can be extracted safely, the technology is still being developed, and most people think it will be ten years before the first of these deepwater finds start pumping, maybe 20 or even 30.

Lets see - a billion barrels is about 12 days worth of oil for the world? Is that right? Looks right - so, not a lot, two weeks worth of oil.

You do get that a billion barrels is a small find, compared to the size of the fields we used to find? Even the 10 billion or more in the deep off brazil is tiny compared to the giant fields we used to be discovering. And those early fields were easy and cheap to extract, with a great EROI.

Nobody really knows yet what the EROI of these deepwater fields is going to be, but many estimates place them about the same as bitumen and shale kerogen.

Basic supply and demand should bring prices down here but the reality is that corporations have fleecing our pockets down to a science. It's a collossal fuck job and everyone is in on it except the consumer.

Brad

How will supply and demand bring the prices down when the global population is expected increase by 1.4 billion over the next 20 years? And with much of that growth occurring in industrializing nations nonetheless. THIS I have to hear.

I'm really looking forward to your response because you're supposed to be a smart guy and everything. I just don't see how it's possible for supply and demand to bring long term prices down. Where is all this extra supply coming from? Another planet? With cities similar to Aurangabad anticipated to be popping up left and right, that's the only possible answer.

http://www.bloomberg.com/news/2010-0...er-cities.html