Oil $90-110/barrel

[Murphy The Cat]

Originally Posted by Moose

Also, currently ULSD Ultra Low Sulfur Diesel is coming online and that is the reason for the diesel cost being higher. That and what you mention. All in all, your prediction is going to come true. Maybe now we should all pick a time that it will happen. Okay, I'll go first...I say by the middle of next summer. Say, July 07.

Moose

That's the good stuff that a 300C CRD needs !

MTC

[srt8danno]

Originally Posted by Murphy The Cat

That's the good stuff that a 300C CRD needs !

MTC

See MTC, you can bring Arnie over when you come in the next couple of months.

[Gord T]

Originally Posted by Murphy The Cat

communist is going a bit far, but our socialist governemnts are very inventive at finding new ways of wasting our money on pet schemes of no merit and little use.

It's always argued that it's going on the welfare, health & education system and the arguement that they throw back at you is "are you going to deny the young, the needy and the ill what they need".

I know that it's BS, but until you've suffered socialism, lived under a Labour government or seen what damage the unions can do, you'll get the picture !

MTC

My "communist" adjective was somewhat tongue in cheek. As for living in a socialist country - until very recently, this country - Canada - was ruled by liberals of various stripes for decades.

Thankfully, I live in the province of Alberta which is the most conservative in the country - for those of you in the US think Republican Lite. My native province - Newfoundland - is run by someone whose politics pass as a reasonable facsimile of Hugo Chavez's. The major oil companies have recently abandoned that province and its staggering O&G potential because of him.

[GEN XER]

So what do you think will happen if Chevron gets the oil out of the ground in the Gulf and is able to bring it to market. The Virginia assembly just asked the federal Gov for permission to look for oil off its coast, what if that nets more oil for the market. Then will prices go down? They should, but will they?

The leases alone for companies to search for oil off the coast of VA will bring billions of dollars annually to the economy here.

[Gord T]

Gen-Xer:

The world's largest proven reserves are in Saudi Arabia. The second largest reserves... Are in Alberta, Canada - 250 billion barrels. Current active and planned projects to increase production over the next ten years are in excess of 100 Billion.

And the really big reserves that have yet to be deemed "proven" are to the east in the province of Saskatchewan.

The US has huge reserve potentials off of all of its coastlines, but the enviro lobby in most states is preventing their development. Some of the very best beaches and fishing in the US are in the Gulf and they have been drilling there for several decades. It is long past time for the US to open up these regions. The lives of thousands of American and allied soldiers (literally) depends on it.

[Rambit]

Don't forget the oil shale in the US. I can't remember what state it's in, but there's apparently enough to supply the US for 100's of years. The biggest problem is extracting it by heat, probably something like what's done at the Alberta Tar Sands. They need to do more research in that area to make North America self-sufficient.

Rambit

[MrHappy]

How about FIXING the issue and developing alternate methods of propulsion? You're telling me with all the advances in science in the last 75+ years that we couldn't have come up with something better than air/gas in + spark = go? The fact is there's no incentive when this much money is made off of oil. Sure, today's engines are more advanced than they were, but it's still the same general concept.

[Gord T]

Oil shale is predominantly on the Eastern slopes of the rockies - Colorado etc. Extraction costs are huge, but someday technology will be applied and they will become part of the proven reserves. Probably not for decades, however, as there are plenty of cheaper alternatives.

As for an alternative to the internal combustion engine, don't forget that it is a technology that is only 100 years old with continuing huge improvements in efficiency and emissions. Todays ULEV vehicles are literally a 1000 times less polluting than a car built in the 70's. Your lawnmower running for 30 minutes produces more pollution than your car does in a month. IT has not reached a developmental dead-end.

Turbines are about the only new tech since besides nuclear fission and it is the only one that is scalable to a vehicle the size of an automobile (chrysler built a prototype in the 60s) and turbines are less fuel efficient than internal combustion.

Energy Cell technology really relies at its root on external combustion (coal-powered steam-generated electricity) to provide its fuel source - hydrogen and it is still very-much an uneconomic technology.

[Gord T]

Oh and by the way, hydrogen-powered fuel cell vehicles would use hydrgen tanks pressurized at 5000 PSI and up meaning that every vehicle on the road would have enough explosive capacity to bring down a very tall building. Do you want that?

[MrHappy]

ooooh, like super Pintos.