Crude oil on the brink of crisis

There isn't enough wood around to run on steam for very long, and coal would do the same thing as oil in a fairly short span of time.

We all are just going to have to learn to do things the hard way again in the future.

It seems that doing things the hard way was around long before petroleum ever showed up anyway.

a reply to: Fylgje

a reply to: xDeadcowx

prices never quite go down to where they were before, and the slightly higher price gets accepted as the new normal price. They have been playing this game for as long as i can remember.

Truth be revealed. Thanks for reminding us.

I worked at a gas stating during the gas "crunch" in the late 70's. The threat of "no gas" only made people buy more. The only shortage was when the pumps ran out because people bought it all before the next shipment.

I remember the owner of the gas station gleeful at the time because of increased profits. I also note they don't pull that crap anymore. They just announce higher prices like you said juuust before summer.

Before the global financial crisis (GFC) in 2008 black gold, oil, was at a record high of about $147 USD a barrel.

www.reuters.com...

The oil price tends to rise if there is any tension in the middle east which is quite frequently. Here in Australia I can buy milk for $1.00 AUD a litre but petrol is about $1.60 AUD a litre. So apparently it is cheaper to buy a cow feed it and milk it then transport and process the milk etc than petrol. lol.

I'm fairly certain that organic material is not required to produce hydrocarbons. The moon Titan, for example, has lakes of the stuff -- and Titan didn't have a coniferous period of plant life.

Control, power, and wealth. There's enough oil to go around, and plenty of alternatives too.

I paid $57 to fill my tank up today.

It doe's not seem long ago that oil was $ 29 a barrel [2001] and they still pull 750.000.000 million barrel's a WEEK from the Earth that is 36 billion barrel's a year and it was as high as 900 million barrel's a week that was being pumped out of the Earth for a while .

Now do the math's 300 ton's of organic material to make 1 gallon of oil according to scientist's 38 gallons in a barrel x 36 billion per annum .


WHERE IS ALL THE MONEY GOING FROM THIS BLACK GOLD

Oil is constantly produced by the earth lol if they dont remove it it will eventually come up anyway lol