Posted by
The Dave Perkins Brothers on Friday, August 22, 2008 10:05:36 AM
Here is
an interview with a very very smart guy, a billionaire Canadian investor who has made a bloody FORTUNE in times when others have staggered and stumbled...
And this guy believes we have passed 'peak oil' and production will decline, in some areas precipitously because of advanced recovery technologies causing more rapid depletion and so forth.
But he does not MENTION the fact that trillions of recoverable barrels of oil are being ignored, and millions of square miles of fertile drilling areas are not even being electronically EXPLORED due to AMERICAN LAW THAT PUTS THE OIL OFF LIMITS.
What happens to his theory if that situation is reversed? And why doesn't he even mention it? Does he factor this possibility in? Or does he know something we don't? Does he believe that oil will forever be off limits? Seems like he isn't even concerned by the possibility of a plentiful supply in the future. He's betting the other way.
Many oil fields have been shown to have increased production over time WITHOUT technologies like water injection and vibration, with only time to rest. Some areas naturally recuperate, if the production pressure is off. And if some areas are in fact past the 50% mark, surely
others in the American sphere are still sitting, fat and juicy at 100%, just waiting for a little COMMON SENSE from our own legislators?
There is more recoverable oil in America, untapped, than in several other big producer countries combined.
But who suffers if the price goes down?
Saudi princes, Venezuelan dictators, a certain Russian KGB veteran.... even Nancy Pelosi, Al Gore and T-bone Pickens. Every famous person pushing green these days is likely to be heavily invested in the stock of companies poised to profit from redirected taxpayer subsidies toward green energy and alternatives.
It's a rogue's gallery that's invested in the pain and suffering of the American consumer and the weakening of its economy. But we keep putting the rogues in office.