Looming Oil crisis

[ribraff]

I know that this subject has come up quite a few times in various guises but it still leaves me confused! There seems to be an underlying panic regarding supply which has obviously affected the market, now is this because of the situation in Iraq and various other places or is it because the demand has now outstripped supply? If this is the case, is there really a viable alternative which will replace oil? We all talk of Hydrogen power and others but these are hardly likely to step in to the shoes of oil in the forseeable future. What will this do to the civilized world as we know it if it does run out?

[Biggles]

I guess we'll have to take up sailing !!!

[Mark Halliday]

Originally Posted by Biggles

I guess we'll have to take up sailing !!!

You think it will catch on?

[UKPOWERBOAT]

Originally Posted by Mark Halliday

You think it will catch on?

As you are such a good graphic designer perhaps I should give you a job

[Mark Halliday]

Originally Posted by Nauti Buoy

As you are such a good graphic designer perhaps I should give you a job

Cheek - I'm a draughtsman not a graphic designer. Besides, I only have a DesignJet 800.

[Manos]

Originally Posted by ribraff

Looming Oil Crisis

Not looming any more I believe

Have a look @ http://story.news.yahoo.com/news?tmp...markets_oil_dc

You can now breath again

[codprawn]

The current oil crises is mainly due to Iraq and jumpy market forces - what must be remembered is oil will never run out - it will just get more expensive!
Many oilfields that aren't viable at say $25 a barrell are at $35 or more - Canada in a classic example with their oil rich sands.

China is going to be the biggest problem - they don't have many reserves and they will start using a hell of a lot as their economy expands.

The west MUST stop wasting oil and gas on electricity generation and accept the fact that nuclear power musty be used - properly controlled(not by a 3rd world country) it is much better than pouring out so much CO2.

As to our current petrol prices in the UK we must remember the oil price has been too LOW for quite some time - now the price is back up again our disgustiong tax levels are really starting to hit - even with the current high oil price the spot market price for petrol is still only 22P per litre - I could live with that!!!!! Beats 83p per litre any time!!!!

[Manos]

Originally Posted by codprawn

The current oil crises is mainly due to Iraq and jumpy market forces - what must be remembered is oil will never run out - it will just get more expensive!

Not exacltly. Iraq has not give oil properly since the 1st Iraq war against Kwait.

Originally Posted by codprawn

Many oilfields that aren't viable at say $25 a barrell are at $35 or more - Canada in a classic example with their oil rich sands.

Not exactly again. Is that we have more and more refined products. The oil we use Petrol and Diesle is the residue from the refining process. i.e. is WHAT THEY DON'T NEED AND WE PAY FOR IT!!! However this residue becomes less and less as refinaries become more sofisticated. Hence higher price as the demand is the same. They are now thinking to build new more sofisticated refinaries that will allow fuel and diesel to be used. However the cost of those is so much and the procedure to go through is so lengthy that by the time they finish building them they recon there will be no crude oil left on this planet.

Originally Posted by codprawn

China is going to be the biggest problem - they don't have many reserves and they will start using a hell of a lot as their economy expands.

Everyoone is in the same box. No one has a lot of reserves. China is not the ONLY problem look at SAUDI and KUWAIT also UAE and the USA. This is the reason they became friendly with LIBYA and Mr Kadafi. Egypt also produces oil but not a lot.

Originally Posted by codprawn

The west MUST stop wasting oil and gas on electricity generation and accept the fact that nuclear power musty be used - properly controlled(not by a 3rd world country) it is much better than pouring out so much CO2.

Nuclear fuel is the future but so much investment has made for soldi fuel engines that we may not see this alternative in our life time on this planet.

Originally Posted by codprawn

As to our current petrol prices in the UK we must remember the oil price has been too LOW for quite some time - now the price is back up again our disgustiong tax levels are really starting to hit - even with the current high oil price the spot market price for petrol is still only 22P per litre - I could live with that!!!!! Beats 83p per litre any time!!!!

Is the high tax (indirect taxation) imposed by the UK state. However, as the fuel prices go up the tax goes up so the price of fuel to the consumer goes up but at a dispropotionate level. So if the state had less taxes on fuel the prices would have been less. In Greece for example the tax on fuel is adjusted according to the price. The more expenssive the fuel the less the tax and we have chep fuel 0.80 Euro cents/ltr