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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (41448)	10/17/2008 1:53:47 PM
From: koan	Read Replies (2) \| Respond to of 217771

Maybe I just misunderstood your comments. Sorry if I was impolite! If you google Alaska heavy oil, you will see there are projections of approximately 100 billion barrels of heavy oil overlying West Sak. And there are smaller deposits to the west and then of course large deposits to the east. The new procedures for extracting heavy oil are very recent and use new solvents. Many people believe we have reached Hubberts Peak oil worldwide. The decline will be very steep. Most people do not realize just how dependent the world has been on the very cheap oil we have been consuming. In the meantime only around 7% of the people in both China and India even have cars yet. So while we will get a short respite from oil high prices, during this recession/depression, Asia will still show positive GDP growth and I expect dramatic increases in the use of energy. So what do we do in the next 20 years to supplant light sweet crude: I only see heavy oil, NG and coal, including coal to oil and gas. To me it is an equation, so tell me where my equation is wrong? Equation: Peak oil looks like 85/87 MPD both produced and consumed. So supply is declining: Russian oil down for first time ever this year, Mexico huge drop, middle east only has extra heavy oil, but inadequate refinery capacity, etc. And only 7 places in the world with over 100 billion barrels of heavy oil and Alaska has by far the best overall circumstances. At the same time Asia rising is really going to put pressure on demand. So where do you think my equation is wrong? Cheers, Chuck