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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (9693)	3/8/2004 11:52:41 AM
From: el_gaviero	Read Replies (1) \| Respond to of 110194

Surely the piece you posted is garbled. "In 2002, on average, China consumed 19.7 million barrels daily. Apart from its daily production of 7.69 million barrels...." China doesn't consume anywhere near 19.7 million barrels a day, does it? I remember from the Matt Simmons piece of a few weeks ago that Chinese consumption was in the range of 5-7 million b/d.

To: Crimson Ghost who wrote (9693)	3/8/2004 12:56:08 PM
From: Haim R. Branisteanu	Respond to of 110194

does not surprise me at all even if the details are not accurate - the problem we face is that US administrations are sold to the oil lobby. Around the US shore are staggering deposits of methane hydrates and no real effort in R&D was invested to utilize those deposits. Similar situation with other renewable energy resources from solar to wind to thermal to nuclear power. Why France can derive most of it's electrical needs form nuclear power and the US is not? methane hydrate deposits and their potential are know for over a decade if not more marine.usgs.gov AG in his testimony before congress on NG has not even mentioned the potential of exploring methane hydrates and the benefits to the US economy, but recently had no problem suggesting cuts in social security payments netl.doe.gov