D
Doug50
Guest
John Hofmeister, president of Shell, before the House in April: “The US economy uses 10,000 gallons of oil every second (~250 barrels or 1/4 of the world’s 1,000 barrels per second). The US economy uses 60 billion cubic feet of natural gas every day. If you stacked those cubic feet on top of eacth other they’d reach to the moon and back…25 times every day. And if burns coal at the rate of 20 railcars every minute.”
Algea is not going to replace those volumes. And there is no such thing as abiotic oil except to a few people’s wishes.
The world faces a huge energy challenge and I don’t see where either the republican party or the democratic party in this country has awaken to that fact.
I can a speculative premium in the current price of oil. Never mind that the natural gas price increase for this year has well exceeded the percantage rise in oil prices, the thing everyone is talking about. But oil prices are going to rise untill there is a huge demand distruction. The thing that will cause that distruction is an economic collapse. Get ready for it, Al, it’s coming.
Even the Royal Bank of Scotland has predicted a stock collapse within a few months.
RBS warns of new stock market crash "Bob Janjuah, senior credit analyst at RBS (RBS) has warned of a potential new stock market crash this Autumn.
According to Janjuah, he expects to see the economic stimulus package in the US continue to help the Dow Jones rally until July.
After that period, he expects inflationary pressures to effectively “paralyse” the ability of central banks in the US and Europe to help support current financial markets.
This is due to a Hobson’s Choice, a paradox where although more than one option may be presented, only one is a realistic choice. In this instace, of allowing inflation to run rampant, or else try and keep the lid on it by not lowering interest rates.
The prediction sees investment strategies become risk averse, in order to counter inflationary pressures which would otherwise erode the value of existing investments.
The result would be a sell off of equities and commodities and a massive influx into cash and bonds.
Oil Demand to Outpace Supply Growth in the Medium-Term - IEA
"The International Energy Agency has indicated in its medium-term assessment that global supply will find it hard to meet sharply rising demand over the next five years, contrary to expectations in some industry quarters that conditions may soften to bring down the record-high oil prices, according to Dow Jones.
The agency’s assessment, which forecasts conditions through to 2013, sees no respite for consumers as oil supplies will be strained even further, even though demand could fall as a result of weaker economic growth.
The International Energy Agency (IEA) has indicated that robust demand in Asia, the Middle East and Latin America, is outpacing supply growth. The agency noted that worldwide supply capacity is projected to rise to 96.2 million barrels per day in 2013 from 90.4 million barrels in 2008, according to the news source.
The agency has predicted that most of the supply growth is expected to come early and fall sharply during 2011-13, with capacity growth at around one million barrels per day per annum.
The IEA also noted that the shortage of refining capacity is also playing its part in increasing oil prices, as demand is surging for distillate fuels such as diesel, jet fuel and kerosene.
Natural gas shortages, diesel shortages in China and tightening European regulations on sulphur levels in diesel are contributing to the rise in oil prices, according to the IEA."
Algea is not going to replace those volumes. And there is no such thing as abiotic oil except to a few people’s wishes.
The world faces a huge energy challenge and I don’t see where either the republican party or the democratic party in this country has awaken to that fact.
I can a speculative premium in the current price of oil. Never mind that the natural gas price increase for this year has well exceeded the percantage rise in oil prices, the thing everyone is talking about. But oil prices are going to rise untill there is a huge demand distruction. The thing that will cause that distruction is an economic collapse. Get ready for it, Al, it’s coming.
Even the Royal Bank of Scotland has predicted a stock collapse within a few months.
RBS warns of new stock market crash "Bob Janjuah, senior credit analyst at RBS (RBS) has warned of a potential new stock market crash this Autumn.
According to Janjuah, he expects to see the economic stimulus package in the US continue to help the Dow Jones rally until July.
After that period, he expects inflationary pressures to effectively “paralyse” the ability of central banks in the US and Europe to help support current financial markets.
This is due to a Hobson’s Choice, a paradox where although more than one option may be presented, only one is a realistic choice. In this instace, of allowing inflation to run rampant, or else try and keep the lid on it by not lowering interest rates.
The prediction sees investment strategies become risk averse, in order to counter inflationary pressures which would otherwise erode the value of existing investments.
The result would be a sell off of equities and commodities and a massive influx into cash and bonds.
Oil Demand to Outpace Supply Growth in the Medium-Term - IEA
"The International Energy Agency has indicated in its medium-term assessment that global supply will find it hard to meet sharply rising demand over the next five years, contrary to expectations in some industry quarters that conditions may soften to bring down the record-high oil prices, according to Dow Jones.
The agency’s assessment, which forecasts conditions through to 2013, sees no respite for consumers as oil supplies will be strained even further, even though demand could fall as a result of weaker economic growth.
The International Energy Agency (IEA) has indicated that robust demand in Asia, the Middle East and Latin America, is outpacing supply growth. The agency noted that worldwide supply capacity is projected to rise to 96.2 million barrels per day in 2013 from 90.4 million barrels in 2008, according to the news source.
The agency has predicted that most of the supply growth is expected to come early and fall sharply during 2011-13, with capacity growth at around one million barrels per day per annum.
The IEA also noted that the shortage of refining capacity is also playing its part in increasing oil prices, as demand is surging for distillate fuels such as diesel, jet fuel and kerosene.
Natural gas shortages, diesel shortages in China and tightening European regulations on sulphur levels in diesel are contributing to the rise in oil prices, according to the IEA."