AutoBanter - View Single Post

**Joe[_1_]** · September 9th 06, 04:44 AM posted to rec.autos.makers.ford.mustang

"Nicholas Anthony" > wrote in
:

>
> "Joe" > wrote in message
> ...
>> (Brent P) wrote in news:-
>> :
>>
>>> In article >, Joe wrote:
>>>> (Brent P) wrote in
>>>> :
>>>>
>>>>> In article >, Mark C.
>>>>> wrote:
>>>>>> It doesn't mean the price of gas will go down. It may go up
>>>>>> slower though.
>>>>>
>>>>> There's more than enough oil in the world. The problem is
>> artificially
>>>>> created by constricting gasoline supply and oil that remains off
>>>>> the market. Basically it's a market that runs on the hairy edge by
>> design
>>>>> so any burp in world events or weather or just plain neglect sends
>>>>> prices higher. Why by design? Because that's how profits are
>> maximized
>>>>> and it's not like anyone else can just get in on the game with all
>> the
>>>>> regulations.
>>>>
>>>> a) The find is good, but it's a drop in the bucket compared to what
>>>> America consumes.
>>>
>>> As I heard it, it's about a 50% increase in US reserves.
>>
>> Yes, and our reserves in general constitute a drop in the bucket
>> compared to what we consume. I can't recall the figures, but I read
>> a while back (around when Dubya was considering opening up more of
>> the reserves to consumers) that if we relied strictly on our
>> reserves, we'd be out of oil in a matter of months.
>
> You are confusing what we stash ready to use in case of a crisis or
> emergency with what we still have in the ground. It would take 40
> years for us to go through the oil that was recently found in that one
> location in the Gulf if the estimates are accurate. Perhaps its less
> or even more, it takes months to get a precise amount.

No, by 'reserves' I mean what's ready to go right now. The stash. As
for what we can refine, that takes a while to get to the pumps. At the
current rate of delivery, there ain't nowhere near enough to go around.

>>>> b) I agree that there's plenty of oil to go around for a long time,
>> but
>>>> it's getting more costly to locate, extract, and refine for
>>>> consumer use.
>>>
>>> All that matters is profitable. at anything north of US$40 a barrel
>> and
>>> there is glut of oil available.
>>
>> Indeed. And while the oil companies post astronomical profits, we
>> just keep on paying. I hope I get to see the person who brings a
>> truly viable alternative fuel to the masses in my lifetime. That
>> person will make Bill Gates anonymous.
>
>
> Hold up the Government makes a huge percentage off of the oil from
> taxes and they are enjoying this more then the oil companies
> themselves. I do agree who ever comes up with whatever replaces this
> fuel source would insanely wealthy making Bill Gates look poor.

Hope I see it in my lifetime.