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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (162880)11/8/2008 2:05:11 PM
From: Elroy JetsonRead Replies (2) of 306849
 
Since many who work at oil firms have strong memories of the 1973 to 1983 oil boom and bust, each of the major firms anticipated this downturn.

It was the major oil firms who put the kibosh on Bush's wacky scheme to build a surplus of oil refineries on military base. Bush thought there was a looming shortage of refinery capacity, but those working for oil firms knew better. Exxon has even been selling-off all of their retail gasoline stations. If Chevron sold their retail properties, it would generate huge profits from book value.

Oil production may be sold only as plastics and chemicals, or it may also be sold to power plants, but it will have a strong market demand long after you and I are gone.

The problem with automobiles is a small energy conversion plant, such as a gasoline engine, is very inefficient compared with a large conversion plant like an electrical power plant. The switch from inefficient distributed power plants to efficient centralized plants has been held back by good storage devices.

Batteries have been so inefficient and cost inefficient when compared with liquid gasoline that it made moot the inefficiencies of the small energy conversion engine. Chevron hopes to sell their 50% share of GM's battery manufacturer Cobasys to GM for a very small fee. After investing a fortune into R&D Cobasys scientists have been able to make their batteries only somewhat more efficient.

An energy solution is going to be a combination of things.
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