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Politics : Foreign Policy Discussion Thread

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To: Keith Feral who wrote (8088)	2/2/2007 9:36:20 AM
From: Hawkmoon	Read Replies (2) of 15992

The catch 22 is that there are bountiful replacements for oil reserves IF prices stay high. Well stated. This is what the "peak oil" crowd seem to miss as they speculate about $100/bbl crude. Do folks really think that Hugo Chavez, with command over the tremendous oil sands wealth in Venezuela, would hesitate to exploit that resource if oil prices remain where they are? He needs all the money he can get, and propping up oil prices gives him the capital he needs to exploit those resources in the same manner as Suncor and the other tar sands participants. So long as oil remains above $30-40/bbl, they are immensely profitable. So if a tar sands company can be profitable abover $30/bbl, then certainly "wild-catting", as well as coal-based synthetic fuel will be as well.. And then there is alcohol/ethanol, although as the price of corn skyrockets, I think it's glamour will fade as people find their Corn Flakes costing twice as much. You can't make the case that you're easing the "bite" on the consumer pocket book when all you're doing is transferring the cost of energy for their car to their children's cereal bowl. Hawk

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