Muscle Heads Rejoice!

On Tue, 5 Sep 2006 19:12:19 -0700, "Mark C." >
wrote:

>It doesn't mean the price of gas will go down. It may go up slower though.
>

People have totally lost perspective. After adjusting for inflation
the cost is not much different from earlier days when no one thought
gas was particularly expensive. In the mid-60's gas was 0.25 per
gallon and a typical car cost $2500. Today the typical car is about
$25,000 and gas costs $2.50 . No one complained in the 60's but you'd
think people where having the leg cut off the way they complain now.

"Nicholas Anthony" > wrote in message
...
>
> "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.
>
>

Forty years from the Gulf? No. About five. I live in Calgary and I know -
remember us, we're the ones who keep all you Americans warm in the winter.
We can't sell you guys the stuff fast enough, and our province (state) runs
multi-billion dollar surpluses every year right now. We're a lot like
Alaska. (Except Alberta has more heavy oil than Saudi does light crude.)
Yea for us.

One out of every seven barrels of oil produced in the world is consumed in
the United States. That's a fact. The US accounts for what, 5 to 6% of the
world population, but you use 14% of the oil. To say you're dependent is an
understatement.

Yes, there is enough oil to go around at present consumption rates for maybe
40 years, maybe 80, it's hard to tell, so say the petroleum engineers I
know, who are most certainly in the know.

Fact is, the price is only going to go up. And that's up from this point.
(It was artifically low for many years during the 80s and 90s.) At some
point it will become too expensive to pull from the ground.

There is no reason to rejoice. Save this post and send it to me in 20 years.
You'll probably even be able to do it from your new 2026 Toyota electric
car. Hey, maybe you can at least but it with the optional 8-battery engine.

Brad