http://tinyurl.com/8myqv

[
What's going to happen as we start running out of cheap gas to guzzle?

By JAMES HOWARD KUNSTLER


A few weeks ago, the price of oil ratcheted above fifty-five dollars a
barrel, which is about twenty dollars a barrel more than a year ago.
The next day, the oil story was buried on page six of the New York
Times business section. Apparently, the price of oil is not considered
significant news, even when it goes up five bucks a barrel in the span
of ten days. That same day, the stock market shot up more than a
hundred points because, CNN said, government data showed no signs of
inflation. Note to clueless nation: Call planet Earth.
]
much more

Enjoy g.
--
Clif

Cliff wrote:
http://tinyurl.com/8myqv

[
What's going to happen as we start running out of cheap gas to guzzle?

By JAMES HOWARD KUNSTLER


A few weeks ago, the price of oil ratcheted above fifty-five dollars a
barrel, which is about twenty dollars a barrel more than a year ago.
The next day, the oil story was buried on page six of the New York
Times business section. Apparently, the price of oil is not considered
significant news, even when it goes up five bucks a barrel in the span
of ten days. That same day, the stock market shot up more than a
hundred points because, CNN said, government data showed no signs of
inflation. Note to clueless nation: Call planet Earth.
]
much more

Enjoy g.


If you think about it, Cliff, you'd realize that maybe the increase in
price of one commodity over a ten day period does not qualify as
"inflation" by anyone's definition. Well, nobody who matters anyway..
Look it up, you'll see what I mean.

Besides, you make it sound like inflation is a bad thing. Didn't you
know that reasonable inflation is good for the economy?

Straighten up, you.

John

On Tue, 24 May 2005 07:40:06 GMT, Gunner
wrote:

On Mon, 23 May 2005 23:48:24 -0500, "Morris Dovey"
wrote:


"Cliff" wrote in message
. ..
http://tinyurl.com/8myqv

[
What's going to happen as we start running out of cheap gas to guzzle?

By JAMES HOWARD KUNSTLER


A few weeks ago, the price of oil ratcheted above fifty-five dollars a
barrel, which is about twenty dollars a barrel more than a year ago.
The next day, the oil story was buried on page six of the New York
Times business section. Apparently, the price of oil is not considered
significant news, even when it goes up five bucks a barrel in the span
of ten days. That same day, the stock market shot up more than a
hundred points because, CNN said, government data showed no signs of
inflation. Note to clueless nation: Call planet Earth.
]
much more

Enjoy g.

Not so enjoyable: oil industry analysts have been predicting that we'll see
crude selling at the US$105/bbl before the end of the year.

That'd pretty well force at least double-digit inflation. Not an enjoyable
prospect at all.

I'd be surprised if we actually saw $105/bbl this year - but $75/bbl is a
lot more probable and could still produce really ugly levels of inflation.

http://www.cbsnews.com/stories/2005/...in697196.shtml

http://www.energybulletin.net/3574.html

Gunner

"Considering the events of recent years,
the world has a long way to go to regain
its credibility and reputation with the US."
unknown

He really, really misses Clinton.

Back then he had a decent job & probably health care
too. Not to mention far, far lower gas & electrical
power costs (Bush lost in CA in 2000 so first thing was
to get revenge with Enron I suspect) ... he's in his
bunker in California eating kibble yet I guess ...
--
Cliff

On Tue, 24 May 2005 16:27:24 GMT, Gunner
wrote:

On Tue, 24 May 2005 07:54:28 -0500, "Morris Dovey"
wrote:

"Gunner" wrote in message
. ..

http://www.cbsnews.com/stories/2005/...in697196.shtml
http://www.energybulletin.net/3574.html

Yep - it /hasn't/ happened yet - and some OPEC members (most notably Saudi
Arabia) have responded to various persuasions to temporarily increase
production to (temporarily) hold prices down.

My assessment is that this will further stimulate consumption worldwide
resulting in fiercer competition for petroleum supplies in the long term -
commencing immediately upon any reduction in production - or more gradually
increasing if levels of production are sustained or further increased.

People seem to be grouping into two major camps: the concerned and the
unconcerned.

The unconcerned seem to me to be in denial. They make it a religious issue
(God will provide), a political issue (the government will provide), an
economic issue (the market will provide) or a lifespan issue (we won't run
out during my lifetime.) There's probably another sub-group who just plain
don't care about very much of anything.

My projection is that when the planet's petroleum has been consumed to the
point of relative scarcity, neither church nor government nor market will be
able to replenish the supply.

Obviously, my lack of confidence in magic isn't universal.

The US has lots of oil. The issue is the cost per barrel of
recovering it. In the already developed oil fields, secondary recovery
methods are expensive. Here in the West Kern/Sunset oilfields, steam
injection costs are high enough that many wells have been simply shut
in as uneconomical to produce. Now that the price of oil has risen,
its become economical to reopen those wells again and produce them.
Lots of rework/redrilling going on in my neck of the woods.

Gee, Gunner .... what happens when you burn more oil to
make that steam than you manage to extract?
Pretty good ideas you have.

Have you considered becoming a fundie or a winger?
--
Cliff

Cliff whined:

Exactly. He just whined.

Cliff wrote:

Nothing important...again.