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| Economy |
| Awash in fossil fuels |
| 2009-11-23 |
| ...For many years, most oil was used for lighting and lubrication, and the amounts extracted were modest. Then in 1901, a new well named for an East Texas hillock, Spindletop, began gushing more per day than all other U.S. wells combined. Since then, America has exhausted its hydrocarbon supplies. Repeatedly. |
| Posted by:g(r)omgoru |
| #9 We will never run out of fossil fuels. Eventually their cost will be too high to use them. |
| Posted by: Mike N. 2009-11-23 20:18 |
| #8 Being "awashed" in something doesn't mean we can nor should waste it. * 1990's MAHA-RUSHIE LUMBAUGH > when done properly, there's no reason for any Conservative, GOP-Right'er, or other to be against ENVIRONMENTALISM [ e.g. RECYCLING]. WASTE NOT, WANT NOT. |
| Posted by: JosephMendiola 2009-11-23 18:23 |
| #7 at $50 is not at $20. |
| Posted by: ed 2009-11-23 17:59 |
| #6 Jim, it's a moving target based on price. What is a recoverable reserve at $500 is not at $20. Or $100/50. We already saw the economic consequences of oil at $140/bbl one year ago. At some point, the reserves will will be used up faster than can be discovered or reclassified at any meaningful price. That day is approaching faster as the US exports it's industrial and knowledge base as the importers will want the same lifestyle we were able to make for ourselves. |
| Posted by: ed 2009-11-23 17:59 |
| #5 OK Glenmore I see your Bullshit Statement and Raise you (Dare you) to name the century? |
| Posted by: Redneck Jim 2009-11-23 17:29 |
| #4 I guarantee we are running out of fossil fuels. We're running out of cheap fossil fuels relatively quickly. At some point synthesis will reach cost parity with extraction so actually completely running out is very unlikely though our usage profile will change as increased costs dictate. |
| Posted by: AzCat 2009-11-23 17:29 |
| #3 Just because the timing has been wrong does not mean the concept is wrong. I guarantee we are running out of fossil fuels. |
| Posted by: Glenmore 2009-11-23 14:26 |
| #2 http://en.wikipedia.org/wiki/Sinclair_Oil |
| Posted by: 746 2009-11-23 13:22 |
| #1 Seems to be a lot of oil and gas activity in the Oklahoma panhandle. |
| Posted by: bman 2009-11-23 12:52 |