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Politics : Politics of Energy
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To: Road Walker who wrote (299)6/12/2008 4:20:23 PM
From: miraje  Read Replies (1) of 86355
 
And it would take longer to transition to natural gas vehicles of gasoline from oil sands, shale or coal than it will take to transition to more efficient vehicles and other "energy clients".

What??? Converting an internal combustion engine to run on natural gas is easy. It's being done right now. Oil sands are (and have been for many years) being utilized for their petroleum products. Shale, at todays crude prices, can be economically developed. Coal to liquid fuel technology has been around since at least WWII (Germans used it) and SASOL in South Africa is doing it today.

As for "efficient" vehicles, the free market is quickly taking care of that. Truck and SUV sales have nose dived and small car and hybrid sales have shot up commensurably. People aren't stupid enough to wait around for the government to tell them what to drive...

The oil companies fix their gross profit percent so the higher the price of oil the higher their profits. No incentive to drill and lower their profits.

Oil companies don't fix diddly squat. Oil is a fungible commodity and world wide supply and demand "fixes" prices. And BTW, refining companies as well as the integrated majors are currently losing money on gasoline sales at todays prices. Are you aware of what a "crack spread" is??
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