More economic gloom

[joe-90]

It is in all our interests to preserve oil - there is no replacement and it is in short supply. Makes no difference what it costs to pump it out - there isn't a bottomless pit full of oil - and we are learning that right at this moment. Sooner or later, a major field will run dry - and when it does - then you'll know about it.

 

[mark vincent]

The world is awash with oil, the north sea has another 50 yrs, Brazil has enormous amounts of oil, Iraq is onl exploiting a 5th of its reserves

Phew! Thank Heaven for that. That's great news. Now give us the links so we can all rejoice.

Let me start you off.

http://www.moneyweek.com/file/19848/the-shocking-truth-about-north-sea-oil.html[/QUOTE]Try the 'mail online' dated 5. june . 2008. it states that there could be another 30 billion barrels of oil still to extracted from the North sea. There are over 300 wells still to be expored, also the oil companies have a vested interest in keeping the extent of their reserves secret, they don't want the government to hit them with a windfall tax.

 

[anobium]

Amazing, all the doom merchants telling us the end is nigh when a few years ago the same people were telling us to invest in property etc.
The simple truth is nobody can accurately forecast more than a few years ahead its all a guessing game just like going to the bookies.

 

[tim west]

What the government needs to do is action against the stranglehold that the oil producers have on Europe by using the tools we have already, ie the EU itself, an immediate ban on importing oil must take effect as of today, any home produced fuels must be shared in the meantime using emergency laws if necessary.

All EU countries conserve their supplies by introducing a three day working week.

Rules governing the use of alternative fuels such as wood burning stoves to be relaxed, we can sort out any pollution issues later on and with less traffic on the roads it will be less anyway.

the three day week to be shared amongst the personnel of each company so that they work on a skeleton crew with reduced services if necessary, companies will have to comply with this ie regular power cuts.

cheap alternatives of travel to be offered and used by those within a certain distance from work ie pushbikes.

all EU countries to refuse to buy oil unless it is below an acceptable cost, a sort of reverse OPEC.

Everyone doing their bit to counter this blatant economic war, treat it like a war, do your bit to hit the oil producers in the pocket rather than letting them get away with it as now.

Any more ideas to put forward to the government?

 

[joe-90]

I've just been listening to an emeritus professor of geography on the Jeremy Vine show - and he paints a picture far worse than I've suggested. He sees oil reaching $200 per barrel before the year is out.

As for vetoing middle east oil - yeah great - they'll simply sell it to the Chinese or Indians. Any other bright ideas?

 

[joe-90]

Amazing, all the doom merchants telling us the end is nigh when a few years ago the same people were telling us to invest in property etc.
The simple truth is nobody can accurately forecast more than a few years ahead its all a guessing game just like going to the bookies.

You don't have a guessing game with finite resources. No major fields have been found since the 1960s. Supply can no-longer meet demand. We've known it was coming for years - now it's here.

 

[mark vincent]

It would be cheaper to send over a gunboat and beat them up for ripping us off, well thats what we used to do.

 

[tim west]

I've just been listening to an emeritus professor of geography on the Jeremy Vine show - and he paints a picture far worse than I've suggested. He sees oil reaching $200 per barrel before the year is out.

As for vetoing middle east oil - yeah great - they'll simply sell it to the Chinese or Indians. Any other bright ideas?

what use will they put it to if we veto their goods if they buy the middle east oil? this is about the world against the oil producers and their prices.

 

[joe-90]

It would be cheaper to send over a gunboat and beat them up for ripping us off, well thats what we used to do.

Try taking on China - their industry can produce Silkworm missiles by the truck load.

 

[joe-90]

I've just been listening to an emeritus professor of geography on the Jeremy Vine show - and he paints a picture far worse than I've suggested. He sees oil reaching $200 per barrel before the year is out.

As for vetoing middle east oil - yeah great - they'll simply sell it to the Chinese or Indians. Any other bright ideas?

what use will they put it to if we veto their goods if they buy the middle east oil?

It's money in the bank. It is estimated that China alone will use the equivalent of all the oil produced today - all by itself. China will be happy to buy it as and when it needs it. Oh and how do you veto Chines goods? We'd have to make them ourselves at a much higher price. Any more ideas?

 

[joe-90]

The world is awash with oil, the north sea has another 50 yrs, Brazil has enormous amounts of oil, Iraq is onl exploiting a 5th of its reserves

Phew! Thank Heaven for that. That's great news. Now give us the links so we can all rejoice.

Let me start you off.

http://www.moneyweek.com/file/19848/the-shocking-truth-about-north-sea-oil.html[/QUOTE]Try the 'mail online' dated 5. june . 2008. it states that there could be another 30 billion barrels of oil still to extracted from the North sea. There are over 300 wells still to be expored, also the oil companies have a vested interest in keeping the extent of their reserves secret, they don't want the government to hit them with a windfall tax.

There could also be fairies at the bottom of the garden.

 

[tim west]

I've just been listening to an emeritus professor of geography on the Jeremy Vine show - and he paints a picture far worse than I've suggested. He sees oil reaching $200 per barrel before the year is out.

As for vetoing middle east oil - yeah great - they'll simply sell it to the Chinese or Indians. Any other bright ideas?

what use will they put it to if we veto their goods if they buy the middle east oil?

It's money in the bank. It is estimated that China alone will use the equivalent of all the oil produced today - all by itself. China will be happy to buy it as and when it needs it. Oh and how do you veto Chines goods? We'd have to make them ourselves at a much higher price. Any more ideas?

what chinese goods are essentials during this period of economic gloom? why would china spend vast amounts of money on oil if they werent going to see a return for their money? they are in the process of an industrial growth and the last thing they want is a trade war with the west.

 

[joe-90]

Car parts, electronics - the whole lot comes from China. The West doesn't make anything any more. If China stopped sending its wares over - you'd find more than the Pound Shop empty.

 

[tim west]

Car parts, electronics - the whole lot comes from China. The West doesn't make anything any more. If China stopped sending its wares over - you'd find more than the Pound Shop empty.

what use the car without fuel? as for consumer electronics goods anyone able to afford such luxuries at this time obviously has too much money and should be taxed heavier! seriously though people need to see the seriousness of the situation and not purchase anything that will have a detrimental effect on the battle with the oil producers.

 

[mark vincent]

Amazing, all the doom merchants telling us the end is nigh when a few years ago the same people were telling us to invest in property etc.
The simple truth is nobody can accurately forecast more than a few years ahead its all a guessing game just like going to the bookies.

You don't have a guessing game with finite resources. No major fields have been found since the 1960s. Supply can no-longer meet demand. We've known it was coming for years - now it's here.

No major oil finds? what about the Bakken oil formation in the states, the biggest oil discovery in US history or the gulf of Mexico or Brazil ect. As has been stated the truth is no one really knows how much oil there is.