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View Full Version : Peak Oil, Bernanke and Silver Part II



Edmund Law
23rd June 2011, 15:09
So now we know (see earlier thread). Oil that is supposed to be released in dire emergencies is now being released and this suggests that Saudi Arabia can not 'just turn a tap' and release sufficient spare capacity to meet the world's needs. So today's action tells us that Peak Oil will become part of the world's mainstream media and consciousness pretty soon.
Once one key commodity reaches a state where it is clear that the price is on a permanent upward trend due to ecological constraints governing the economic realities then there will be 'contagion' as this pyschology spreads to other commodities.
Then no amount of manipulation (which is just hidden/denied intervention when done by governments) will be effective in suppressing the price. Silver is the most obvious case in point.
In economics it is often believed that what goes up must come down but in ecology this is not the case, trends can escalate and re-inforce feedback to produce permanent changes.
I don't think pulling the wool over the people's eyes will last as a strategy between now and after the next Presidential election, sooner rather than later the politicians will be forced to start telling uncomfortable home truths. Buckle Up.

SilverSpot
23rd June 2011, 15:21
The damn "baby boomers" or the most greedy generation in humankinds history, sucked on the straw their whole lives, racked up insurmountable debts and passed all these problems off to their children & grandchildren. There only solution so far has been to turn corn, a major food source, into ethonal. Yeah let's starve the poor so the upper class can drive there porche to work!!

engineear
23rd June 2011, 20:00
The damn "baby boomers" or the most greedy generation in humankinds history,

I take offense to that. We could argue all night long about sucking on the oil straw. That goes back before the 50's, when I was born. I didn't rack up the debt and I don't own a Porsche. Talk to the 7 sisters about the oil issue. Google it and learn something. I'm for solar whatever, have had solar H2O on 2 homes. Will get PV for whole house electric soon, live in AZ. Talk to any administration and see who racked up debt...dems or rebubs...pick one, especially the current one...4 trillion in 2 years and you say my generation is running up the debt?! Before you spout off like that read ALOT more and from different medias than you're used to and THEN make an educated comment. I surmise you're of the current, younger generation who has been sucking at the government trough and expects everything handed to him. I see entitlements everyday given to people who don't deserve it, have new cars, cells, nails done, tattoos, cigarettes, designer clothes and bitch and moan when asked to upgrade a pair of glasses for their kids for $20. Don't get me started about entitlements and free stuff not earned or warranted. They come in my office with 3-5 kids and get everything free...they aren't starving...they plop their tired butts down and each has a happy meal, fries and a diet 44ozer and get upset when I ask to take the food outside...the parents don't get it and they rear their children that way....you know SilverSpot....they never get off their behinds to get enough info to make an educated comment...is that YOUR generation? The hand me a hand out generation? Or do you and your wife...if married...both work, maybe 2 jobs each like me and mine have done off and on for years to make ends meet, to feed my kids and all the stuff it takes to survive and maybe save a little bit to buy some PM's? You do read stuff here, right? Of course you do, then how can you make a comment like that? If the government would get out of places we shouldn't be, lower taxes on the working stiffs, raise corporate taxes and still keep companies here, cut back on giving other countries money and put it toward the debt and human services, we'd be in a lot different position. But to say the boomers are the issue is unwarranted, naive and uneducated on the issues that our country is going through.
Rant over, you can now return to your regular broadcast.

SilverSpot
23rd June 2011, 20:24
I take offense to that. We could argue all night long about sucking on the oil straw. That goes back before the 50's, when I was born. I didn't rack up the debt and I don't own a Porsche. Talk to the 7 sisters about the oil issue. Google it and learn something. I'm for solar whatever, have had solar H2O on 2 homes. Will get PV for whole house electric soon, live in AZ. Talk to any administration and see who racked up debt...dems or rebubs...pick one, especially the current one...4 trillion in 2 years and you say my generation is running up the debt?! Before you spout off like that read ALOT more and from different medias than you're used to and THEN make an educated comment. I surmise you're of the current, younger generation who has been sucking at the government trough and expects everything handed to him. I see entitlements everyday given to people who don't deserve it, have new cars, cells, nails done, tattoos, cigarettes, designer clothes and bitch and moan when asked to upgrade a pair of glasses for their kids for $20. Don't get me started about entitlements and free stuff not earned or warranted. They come in my office with 3-5 kids and get everything free...they aren't starving...they plop their tired butts down and each has a happy meal, fries and a diet 44ozer and get upset when I ask to take the food outside...the parents don't get it and they rear their children that way....you know SilverSpot....they never get off their behinds to get enough info to make an educated comment...is that YOUR generation? The hand me a hand out generation? Or do you and your wife...if married...both work, maybe 2 jobs each like me and mine have done off and on for years to make ends meet, to feed my kids and all the stuff it takes to survive and maybe save a little bit to buy some PM's? You do read stuff here, right? Of course you do, then how can you make a comment like that? If the government would get out of places we shouldn't be, lower taxes on the working stiffs, raise corporate taxes and still keep companies here, cut back on giving other countries money and put it toward the debt and human services, we'd be in a lot different position. But to say the boomers are the issue is unwarranted, naive and uneducated on the issues that our country is going through.
Rant over, you can now return to your regular broadcast.

I guess I just had to vent some pent up frustration and although I do feel the boomers were more like consumers I don't feel that angry towards them. Hopefully you didn't take that too personally and yes there are many different causes of the current economy!
There are many who depend on the gov't to take care of them and some of them take advantage of it. I believe entitlements are; life, liberty and the persuit of happiness, not endless unemployment checks!

I guess I can only draw one last final conclusion to all of this generational hubbub... someday, somehow silver will save us all!

DaleFromCalgary
24th June 2011, 16:09
Saudi Arabia is now pumping heavy sour (high sulphur) crude, which few refineries can handle. The mass media only report total amounts of oil, without mentioning the quality of oil. Peak Oil does not mean we are running out of oil, it means that we have used up most of the light sweet crude oil that is easy to get at. The remaining oil is expensive hard-to get-at poor-quality oil, such as the Athabasca Tar Sands (basically low-grade asphalt) or deepwater oil (Tupi or Macondo). The problem didn't arise overnight (Hubbert made his prediction in 1956) and it won't be solved overnight.

Remember above all that commodities are a long-term investment. Just look at a 10-year price chart for oil, gold, silver, etcetera.

avcat
24th June 2011, 23:28
I take offense to that. We could argue all night long about sucking on the oil straw. That goes back before the 50's, when I was born. I didn't rack up the debt and I don't own a Porsche. Talk to the 7 sisters about the oil issue. Google it and learn something. I'm for solar whatever, have had solar H2O on 2 homes. Will get PV for whole house electric soon, live in AZ. Talk to any administration and see who racked up debt...dems or rebubs...pick one, especially the current one...4 trillion in 2 years and you say my generation is running up the debt?! Before you spout off like that read ALOT more and from different medias than you're used to and THEN make an educated comment. I surmise you're of the current, younger generation who has been sucking at the government trough and expects everything handed to him. I see entitlements everyday given to people who don't deserve it, have new cars, cells, nails done, tattoos, cigarettes, designer clothes and bitch and moan when asked to upgrade a pair of glasses for their kids for $20. Don't get me started about entitlements and free stuff not earned or warranted. They come in my office with 3-5 kids and get everything free...they aren't starving...they plop their tired butts down and each has a happy meal, fries and a diet 44ozer and get upset when I ask to take the food outside...the parents don't get it and they rear their children that way....you know SilverSpot....they never get off their behinds to get enough info to make an educated comment...is that YOUR generation? The hand me a hand out generation? Or do you and your wife...if married...both work, maybe 2 jobs each like me and mine have done off and on for years to make ends meet, to feed my kids and all the stuff it takes to survive and maybe save a little bit to buy some PM's? You do read stuff here, right? Of course you do, then how can you make a comment like that? If the government would get out of places we shouldn't be, lower taxes on the working stiffs, raise corporate taxes and still keep companies here, cut back on giving other countries money and put it toward the debt and human services, we'd be in a lot different position. But to say the boomers are the issue is unwarranted, naive and uneducated on the issues that our country is going through.
Rant over, you can now return to your regular broadcast.

Baby Boomers are depleting all resources without a doubt and they are leaving us with massive debt. There has been very little forward thinking about future generations the last 60 years.

silverheartbone
24th June 2011, 23:40
Baby Boomers are depleting all resources without a doubt and they are leaving us with massive debt. There has been very little forward thinking about future generations the last 60 years.

avcat, how young are you?
Too young to remember the 60's I'll bet, otherwise you could never have come up with that nugget about forward thinking.

I see many young (under 40) folks driving large SUV type vehicles.
Environmentally unconscious behavior occurs in all generations.

Don't you know that our decisions are greatly limited to the choices made available by the 'elite'?

We could be free of dependence on oil and nuclear if the 'elite' didn't derive so much power in maintaing the status quo.

SilverSpot
25th June 2011, 01:14
avcat, how young are you?
Too young to remember the 60's I'll bet, otherwise you could never have come up with that nugget about forward thinking.

I see many young (under 40) folks driving large SUV type vehicles.
Environmentally unconscious behavior occurs in all generations.

Don't you know that our decisions are greatly limited to the choices made available by the 'elite'?

We could be free of dependence on oil and nuclear if the 'elite' didn't derive so much power in maintaing the status quo.

That's funny 'cause I see alot of young people driving hybrids and working at conserving rather than mindless wasting.

silverheartbone
25th June 2011, 10:17
That's funny 'cause I see alot of young people driving hybrids and working at conserving rather than mindless wasting.

That observation is true.
And that is nothing new.
Historically a lot of young people have been conservationists.

engineear
26th June 2011, 00:09
I know alot of young people that are into large HP cars that love to drift whenever possible gulping huge amounts of gas, leaving bits of rubber and smoke and hundreds of feet of burnout all over the place along with sound pollution all the while laughing up a storm at spectators expense...I guess they're all that way...this wild and crazy younger generation..gotta love 'em. I still see young WOMEN drive up to my office in lifted pickup trucks, chromed everything, huge tires(for optimum MPG I think), light bars, winch(that added weight keeps the nose down for better MPG) and custom rims. When asked how often they go off road..." why..I NEVER go off road"...is almost always the answer. There was a young lass that DID go off road but she was more manly than the men she was with. That was the women's trucks. The guys trucks...let's just say you can limbo under theirs...all for the sake of conservation. All of them, and I mean ALL of the ones I see, are 18-30...tops.

So please, let's stop with the generations that are wasteful. How about AL Gore...you know, the self proclaimed inventor of the internet and grand poo-bah of saving the planet. The guy who, when walking in one of the rooms of the White House that had busts of George Washington, Thomas Jefferson, Abraham Lincoln and said.."Who are THESE guys?". The last I heard, his HUGE home eats tons of energy. I haven't seen him in a Prius. The jet he has used is old technology and is very inefficient. He's making all kinds of green ($) on "GREEN" and not sharing like Mr. O wants from all those millionaires...hypocrite.

Now, why don't you and your friends invent a way to have a transport device that doesn't pollute, room for 4-5, has enough HP to snap your head back when you need to pass us Q-tips, can be produced in the USA, would replace oil and its derivatives and can be had for a reasonable amount of silver? I will applaud your efforts. Oh, one more thing...when you start your quest...NO GOVERNMENT MONEY! Because if you get some of their money, they own you. Good luck-God speed.

Chris_
26th June 2011, 13:00
I know alot of young people that are into large HP cars that love to drift whenever possible gulping huge amounts of gas, leaving bits of rubber and smoke and hundreds of feet of burnout all over the place along with sound pollution all the while laughing up a storm at spectators expense...I guess they're all that way...this wild and crazy younger generation..gotta love 'em. I still see young WOMEN drive up to my office in lifted pickup trucks, chromed everything, huge tires(for optimum MPG I think), light bars, winch(that added weight keeps the nose down for better MPG) and custom rims. When asked how often they go off road..." why..I NEVER go off road"...is almost always the answer. There was a young lass that DID go off road but she was more manly than the men she was with. That was the women's trucks. The guys trucks...let's just say you can limbo under theirs...all for the sake of conservation. All of them, and I mean ALL of the ones I see, are 18-30...tops.

So please, let's stop with the generations that are wasteful. How about AL Gore...you know, the self proclaimed inventor of the internet and grand poo-bah of saving the planet. The guy who, when walking in one of the rooms of the White House that had busts of George Washington, Thomas Jefferson, Abraham Lincoln and said.."Who are THESE guys?". The last I heard, his HUGE home eats tons of energy. I haven't seen him in a Prius. The jet he has used is old technology and is very inefficient. He's making all kinds of green ($) on "GREEN" and not sharing like Mr. O wants from all those millionaires...hypocrite.

Now, why don't you and your friends invent a way to have a transport device that doesn't pollute, room for 4-5, has enough HP to snap your head back when you need to pass us Q-tips, can be produced in the USA, would replace oil and its derivatives and can be had for a reasonable amount of silver? I will applaud your efforts. Oh, one more thing...when you start your quest...NO GOVERNMENT MONEY! Because if you get some of their money, they own you. Good luck-God speed.

I am one of those younger guys that is obsessed with high HP cars, and just because I want to play devils advocate...

Every single time I go to the track, the old guys have way more power, and waste way more gas because they have way more money :) The old guys love their bored out and blown 454's while the younger cars like 4 and 6 cylinders that are turbo'd. My car will make 11 second passes, but gets 37mpg on the highway on the way home. The old guys cars burn a full gallon going 1/4th mile, and they have huge double trailers pulled by lifted trucks on their way home :)

Mizzle
26th June 2011, 14:03
Saudi Arabia is now pumping heavy sour (high sulphur) crude, which few refineries can handle. The mass media only report total amounts of oil, without mentioning the quality of oil.

Interesting point. Had not read this before about the Saudis, but makes perfect sense.
Long term I'm very bullish on domestic offshore producers. As the easier to get-at oil becomes depleted the price will rise, and the offshore plots will become more profitable.

If you believe in biotic-oil, then you should know that it's formed by plankton and algea...so IMO, the whole damned world is covered in oil just below the surface.

If you believe in abiotic oil (I prefer this thesis personally), then the high heat and pressure below the Earth's crust forms the long change hydrocarbons from much simpler molecules, and the supply is seemingly endless.

DaleFromCalgary
28th June 2011, 13:25
If you believe in biotic-oil, then you should know that it's formed by plankton and algea...so IMO, the whole damned world is covered in oil just below the surface.

No, otherwise you could punch a hole in the ground anywhere and find oil. Most oil created over the megayears has been destroyed by natural processes, such as seepage to the surface (the Athabasca Tar Sands are what is left after an oil field was exposed by glaciation and the volatiles evaporated away) or mountain orogenies.

If you believe in abiotic oil (I prefer this thesis personally), then the high heat and pressure below the Earth's crust forms the long change hydrocarbons from much simpler molecules, and the supply is seemingly endless.

No one has ever found any abiotic oil, not one single deposit anywhere in the world. All oil found has organic substances of one kind or another mixed into the hydrocarbons. I want to believe but until someone finds even a puddle of it, I can't.

The fact that 60 megabarrels had to be released from storage proves that the Saudis cannot provide swing production, otherwise they would have done so when the Libyan crisis started a few months ago. What more is need to prove Peak Oil?

silverheartbone
28th June 2011, 13:35
No one has ever found any abiotic oil, not one single deposit anywhere in the world.
The Deepwater Horizon disaster has released millions of gallons of the stuff into the ocean.


All oil found has organic substances of one kind or another mixed into the hydrocarbons.
Perhaps the organisms feed on the oil?


I want to believe but until someone finds even a puddle of it, I can't.Whatever floats your boat.

DaleFromCalgary
28th June 2011, 13:44
The Deepwater Horizon disaster has released millions of gallons of the stuff into the ocean.

Which was not abiotic oil.

Perhaps the organisms feed on the oil?

Some bacteria slowly degrade oil, but that's nothing to do with abiotic oil. Incidentally, I just finished a good novel about oil-eating microbes run wild called ILL WIND, by Kevin Anderson. Anyone who's a tinfoil-hat survivalist will love it.

silverheartbone
28th June 2011, 13:48
The Deepwater Horizon disaster has released millions of gallons of the stuff into the ocean.

Which was not abiotic oil.
I've heard differently.
Who has the real information?


Perhaps the organisms feed on the oil?

Some bacteria slowly degrade oil, but that's nothing to do with abiotic oil. Incidentally, I just finished a good novel about oil-eating microbes run wild called ILL WIND, by Kevin Anderson. Anyone who's a tinfoil-hat survivalist will love it.

You really didn't need to read a novel when the real events could have provided the same level of entertainment for you.

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