What the Frack!

[s2art]

Another game changer in the Middle East. 250 billion barrels at $40 bbl! We sure are running out of fossil fuels. The arabs are not going to like this.

See; http://opinion.financialpost.com/2011/06/10/israel...

[trickywoo]

Just to put some perspective on that IIRC the cost of oil at the head in Saudi is something like $2 a barrel.

If I understand correctly the Israel cost is $35 to $40. So a good 20 times higher.

Still a nice little earner.

[Puggit]

And not forgetting their offshore gas: http://www.weeklystandard.com/articles/middle-east...

[paulrockliffe]

So we're invading Israel if the price of oil rises a bit more?

[V88Dicky]

article said:

38 countries have an estimated 4.8-trillion barrels of shale oil.

Peak oil? My arse.

The eco-mentalists aren't going to like that.

[Digga]

Good, the arabs are sts.

What other commodity is 'allowed' to be so comprehensively bumfked by cartel?

That OPEC has seen fit, whilst the world attempts to get back on its feet after the credit crunch, to piss about with oil prices is proof final that the care very little about their customers.

[Fittster]

Digga said:

Good, the arabs are sts.

What other commodity is 'allowed' to be so comprehensively bumfked by cartel?

Diamonds?

[Digga]

Fittster said:

Diamonds?

True, but we're hardly reliant on the produce of De bds.

[obob]

Digga said:

Good, the arabs are sts.

What other commodity is 'allowed' to be so comprehensively bumfked by cartel?

That OPEC has seen fit, whilst the world attempts to get back on its feet after the credit crunch, to piss about with oil prices is proof final that the care very little about their customers.

Hmmm and Israel will supply us for free?

[MadMullah]

obob said:

Hmmm and Israel will supply us for free?

exactly. surely the price they're already quoting is suggestive they'll be worse.

amazing how so much oil just keeps "turning" up whilst according to the 80's we should've ran out by now.

[MK4 Slowride]

V88Dicky said:

article said:

38 countries have an estimated 4.8-trillion barrels of shale oil.

Peak oil? My arse.

The eco-mentalists aren't going to like that.

Isn't there supposed to be more oil shale in north america now than there has ever been oil int he middle east?

I think it'll be a while before it runs out and then hydrogen will take over. Too much vested interest in oil for it to be eclipsed by hydrogen at the moment. I'd imagine it'd need to be phased in or a big bad event happen to welcome it's arrival.

[Puggit]

MK4 Slowride said:

V88Dicky said:

article said:

38 countries have an estimated 4.8-trillion barrels of shale oil.

Peak oil? My arse.

The eco-mentalists aren't going to like that.

Isn't there supposed to be more oil shale in north america now than there has ever been oil int he middle east?

I think it'll be a while before it runs out and then hydrogen will take over. Too much vested interest in oil for it to be eclipsed by hydrogen at the moment. I'd imagine it'd need to be phased in or a big bad event happen to welcome it's arrival.

Well if Thorium is so good, we'll soon switch to electric everything anyway!

[Shuvi Tupya]

Puggit said:

Well if Thorium is so good, we'll soon switch to electric everything anyway!

And it will still cost us a similar amount to use the car once the government are done taxing it.

[ErnestM]

MK4 Slowride said:

Isn't there supposed to be more oil shale in north america now than there has ever been oil int he middle east?

I think it'll be a while before it runs out and then hydrogen will take over. Too much vested interest in oil for it to be eclipsed by hydrogen at the moment. I'd imagine it'd need to be phased in or a big bad event happen to welcome it's arrival.

Just the Green River formation alone in the US has 1.5 trillion barrels of shale oil (largest in the world).

[ringram]

Translation: V8's are good.

[Puggit]

Shuvi Tupya said:

Puggit said:

Well if Thorium is so good, we'll soon switch to electric everything anyway!

And it will still cost us a similar higher amount to use the car once the government are done taxing it.

EFA

[freecar]

V88Dicky said:

article said:

38 countries have an estimated 4.8-trillion barrels of shale oil.

Peak oil? My arse.

The eco-mentalists aren't going to like that.

I was taught it in school, my dad was taught it and I'm sure the current children are being taught it. Yet I saw a graph that showed oil demand and oil reserves (known at that time)and although demand has rocketed, so has the known reserves.

st, I was taught that we'd only have enough oil for the next five years!

[don4l]

In 1975 the experts told us that we would run out of oil in 20 years. (1995!)

Now, they tell us that we will run out in 2050(40 years).

Thank God for experts.

Don
--

[thinfourth2]

MK4 Slowride said:

I think it'll be a while before it runs out and then hydrogen will take over. Too much vested interest in oil for it to be eclipsed by hydrogen at the moment. I'd imagine it'd need to be phased in or a big bad event happen to welcome it's arrival.

OFFS

Could you please tell me where hydrogen comes from?

[eharding]

thinfourth2 said:

MK4 Slowride said:

I think it'll be a while before it runs out and then hydrogen will take over. Too much vested interest in oil for it to be eclipsed by hydrogen at the moment. I'd imagine it'd need to be phased in or a big bad event happen to welcome it's arrival.

OFFS

Could you please tell me where hydrogen comes from?

Electrolysis, powered by nuclear or renewables?

Where do you think it comes from?