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Politics : Foreign Policy Discussion Thread

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To: TimF who wrote (8095)	2/3/2007 10:02:57 AM
From: Keith Feral	Read Replies (1) of 15987

No, I think there is an infinite supply of oil. Peak oil is only pointing to one source of oil from crude oil. I think there is an unlimited supply of oil from oil sands, liquified coal, oil shale, and all kinds of alternatives to crude. The e & p process is getting much more expensive now that companies like rig or ne have to drill in deepwater. Dayrates are skyrocketing to $500,000 per day. We haven't even tapped any oil reserves in the deep waters in the GOM. That all is beginning to change. We will find new technologies to vastly improve fuel efficiency over the next 30 years to reduce demand dramatically. Hybrids, electric engines, hydrogen fuel will let consumers get much better fuel efficiency. Since the CEO from Exxon doesn't believe in Peak Oil, nor do any of the Saudis, I don't feel inclined to believe in Peak Oil either.

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