The Coming Oil Shortage

hank

http://m.unknowncountry.com/insight/coming-oil-shortage

The situation is so dire that even George W. Bush's Energy Adviser, Matthew Simmons, has acknowledged that "The situation is desperate. This is the world's biggest serious question.". ... According to Secretary of Energy Spencer Abraham, "America faces a major energy supply crisis over the next two decades. The failure to meet this challenge will threaten our nation's economic prosperity, compromise our national security, and literally alter the way we lead our lives."

hank

Apologies - I accidentally bumped this dumb post to the Discussions+ page. ... Thought it interesting, however, how quickly the world went from oil shortage to oil glut.

catch22

Hi @hank
Ah, Mr.Spencer Abraham. He is highly educated; but I'm sure his statement was from a low, position person at the energy department and was not a part of his personal insight.
But, who knows.......... Those were the times that were in place then and folks didn't have a view of what technology yet had in store for the future of discovery of all things, including where and how to extract crude and related products.

bee

Wood to Coal. Coal to Oil. Oil to Natural Gas, Hydro, Wind, Solar, Nuclear Fission.

We also have a wood glut and a coal glut...I welcome oil to the "glut-cheon" (Kind of an all you can not eat energy buffet).

Let's keep oil in reserve and move on with our energy goals.

Old_Joe

With bee on this one.

scott

bee said:

Wood to Coal. Coal to Oil. Oil to Natural Gas, Hydro, Wind, Solar, Nuclear Fission.

We also have a wood glut and a coal glut...I welcome oil to the "glut-cheon" (Kind of an all you can not eat energy buffet).

Let's keep oil in reserve and move on with our energy goals.

We have goals? It wasn't clear we had any sort of plan.

Also, all the people in solar have seen those stocks get absolutely obliterated. Look at SUNE.

bee

scott said:

We have goals? It wasn't clear we had any sort of plan.

You are more correct than I as far an energy plan goes. Thanks for clearing the lenses on my rose colored glasses. I grew up with TANG and Apollo 13.


Here's a 9 year old presentation that addresses your point.
purdue.edu/discoverypark/energy/assets/pdfs/Bowen-12-9-06-SymposiumPresentation.pdf

scott

bee said:

scott said:

We have goals? It wasn't clear we had any sort of plan.

You are more correct than I as far an energy plan goes.

Here's a 9 year old presentation that addresses your point.
purdue.edu/discoverypark/energy/assets/pdfs/Bowen-12-9-06-SymposiumPresentation.pdf

Thanks, although I think my upset goes beyond the market and really kind of questions where this country may be in 3-5-10 years. I mean, look at energy, no plan. Oil is near enough to 2009 lows to just say it's there at this point. Are we as a country buying hand-over-fist?

LOL, no - of course not. Congress was actually thinking about selling when oil is at this level.

http://www.forbes.com/sites/christopherhelman/2015/07/28/congress-agrees-to-stopgap-highway-bill-strategic-petroleum-reserve-safe-for-now/

http://thehill.com/blogs/pundits-blog/energy-environment/251770-selling-part-of-strategic-petroleum-reserve-is-a-bad

http://www.bradenton.com/2015/08/03/5924106/congress-looks-underground-for.html

I mean, Congress is looking for money in our emergency oil fund after oil has round tripped back to 2009 lows.

Honestly, I'm not going to go into a whole discussion because I find some of the things going on infuriating and I'd rather not get upset, but hey, it's just a continuation of the short-term mentality that has taken over this country. This period will end badly - ridiculously so - and perhaps one of these crises we'll have a government who will actually realize that things have to change. I wouldn't bet on it.

hank

They're running low on water in California. Maybe they should start filling all those big pools with crude instead. Gettin cheap.

Old_Joe

@scott- I completely agree with you re Congress and selling oil. We should be buying it from the producers as cheaply as possible and filling the underground emergency reserve in Texas until it's totally full. Congress is a circus and the clowns are in charge.