Prevailing wrote on Aug 3^rd, 2012 at 7:56pm:


Well Prevailing, given that Economics is all about Supply & Demand, perhaps you can explain to us, the reasons for the massive increases in Oil & Coal, in particular?

If not shortages, then what are the reasons that have influenced the Crude Oil Price?

For example, the Price of a barrel of WTi went from around US$10 in the late 1990's, to US$147 a barrel in 2008, before crashing to around US$40 in 2009, before starting to climb again, where it is now reaching back towards US$100.

so, what reasoning could there be for the size of these increases & the great variations?

Bobby. wrote on Aug 3^rd, 2012 at 8:51pm:


Notwithstanding what Prevailing come up with, it is correct that the old & largest of the Oil fields are now in what is correctly called the Depletion stage, which simply means that those fields have Peaked, in terms of Production!

As the oldest & largest fields have Peaked, the total Global Supply therefore is reliant on the newer fields, but these newer fields are smaller in size & Production AND they more expensive in Price, as they are more difficult to access OR they involve much more processing, as they are of a lower grade.

Also, the other alternatives, such as Tar Sands, involve a great deal of processing & are barely Energy Positive, when looked at on an EROEI (Energy Return On Energy Invested) basis.   

gold_medal wrote on Aug 3^rd, 2012 at 7:53pm:


so at every service interval of 6 months what service do you think they will do ?? fill up the wiper bottle !!

And I suppose you think they will still charge you 300 bucks to do this !!

gold_medal wrote on Aug 3^rd, 2012 at 7:48pm:


so how do you account for this lot of EV's circa 2000 which GM obviously didn't want anyone to have

http://www.evnut.com/ev1_crushed.htm

gold_medal wrote on Aug 4^th, 2012 at 9:08am:



Rubbish,
there has never been a bigger oil field found than in Saudi Arabia.

Bobby. wrote on Aug 4^th, 2012 at 9:11am:


The shale oil fields of the USA are 7 times larger than Saudi Arabia and recent improvements in drilling technology (going sideways) has made many other fields now economic and viable.

Then we go to Canada whose tar sands are now becoming economic to recover and also contain 7 times the amount as in Saudi Arabia. Southern American oil fields are now also becoming economic driven both by higher oil prices and cheaper extraction technologies.

So you might as well get over the fact that oil is still in plentiful supply. All we have done so far is access the EASY sources and as drilling technology continues to evole more and more deeper and otherwise inaccessible fields will come online.

I know this is uncomfortable for you to accept but the peak oil nonsense is just that - nonsense. That is why we were supposed to run out of oil in 1985 and then again in 2000 and why now we are supposed to be experiencing chronic shortages while there is in fact a mild GLUT in world oil supplies.

Must suck to be an uninformed gullible leftie, mustn't it?

The Government could be guilty of conspiracy to destroy the Australian manufacturing industry through the malicious removal of legally required trade protection and deliberately undermining the employment security and economic rights of hundreds of thousands of Australians.  I suggest they did this in collaboration with overseas unelected NGO's and foreign agents such as the IMF, the WTO, The World Bank ect...