Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (46200)	2/13/2004 4:47:11 AM
From: Raymond Duray	Read Replies (4) of 74559

Re: PS: I'll read Mike Ruppert's rant now and see if I have anything to add. ROTFL! That's classic. A perfect example of the 'ready, fire, aim' school of rhetoric. *** BTW, your statement that Russia and Iran have vast reserves seems to be more of a fantasy than a fact. Russia has 60 Billion Bbl reserves, and Iran has 89 BBbl, a combined total of 13.3% of the world's known reserves. tinyurl.com In other words, the equivalent of about three years worth of the world's consumption at present rates. Hardly a reassuring figure. And you are utterly negligent, on the matter of oil sands and bitumens, about doing the necessary economic analysis that will indicate that within a very few years it will cost 1.1 (or more) monetary units to produce 1.0 oil equivalent units of wealth. In other words, it will become counterproductive to destroy money in order to produce energy.

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