BS Oil Report?

kach22i · kach22i's Garage

While looking at the Michigan primary results on the MSNBC website I clicked an advertisement link called "the oil report".

Is this BS?
http://www.stansberryresearch.com/PRO/0704OILCOL49/WOILH705/200704OIL-COL-49.html

legion · 01-16-2008, 05:37 AM

Certainly looks like BS.

The Gaijin · 01-16-2008, 05:41 AM

Oil shale. Been around a long time. And there is a lot of it. But the Saudis can pump for a buck a barrel and this stuff is not profitable until about $50 a barrel at least..

The point was made on another thread - a few nuke plants out there could provide the energy to help extract and refine this stuff..

Do we have the balls to forgo cheap imports and put up with permanent high energy prices for the sake of security and not sending billions overseas??

legion · 01-16-2008, 05:48 AM

If oil shale is profitable at $50 a barrel, why have we not been extracting it for the last 4 years?

kach22i · kach22i's Garage

Quote:

Originally Posted by The Gaijin

Do we have the balls to forgo cheap imports and put up with permanent high energy prices for the sake of security and not sending billions overseas??

With Bill Richardson out of the race and his plan to have us driving around in electric cars powered from electricity generated by solar arrays, windmills and gasified coal we may never find out.

Richardson's plan was to have an auction of carbon rights (right to pollute). Thinking was it could be cheaper for utilities to invest in clean power than to pay to use obsolete technologies.

Any discovery of lots of oil will just keep us from the responsible track. More jobs in developing new technologies than remaining with the present norm.

The Oil Report looks like it's meant to feed off the wish to remain the same.

Moneyguy1 · 01-16-2008, 05:56 AM

It is being mined but not in large quantities. The up-front cost is high and the lead time to make it large scale is long. I do not think four years is enough.

kach22i · kach22i's Garage

Quote:

Originally Posted by Moneyguy1

It is being mined but not in large quantities. The up-front cost is high and the lead time to make it large scale is long. I do not think four years is enough.

I think most current plans call for heating the shale up in place with geo-thermal or steam from nuclear power and pumping out the oil.

Strip mining and shipping or transporting to an on-site processing plant is far to expensive.

The link describes a 20 year patent on the process they want to use.

The Gaijin · 01-16-2008, 06:12 AM

Quote:

Originally Posted by legion

If oil shale is profitable at $50 a barrel, why have we not been extracting it for the last 4 years?

I dunno - maybe it is $75 a barrel. The fact is - you could invest $$$trillions of dollars in mines, operations and refineries - and then the Saudis start pumping and the floor drops out of the price of oil..

Only something like a huge import tax would make this viable.

trader220 · 01-16-2008, 06:37 AM

Its utter rubbish, this is simply a sales tactic to get you to subscribe or invest with them. You can find hiundreds of these junk sales promos for every market you can think of. Usually they're for penny stocks or commodity scams

widebody911 · widebody911's Garage

Think about it - if this was as a lucrative as they try to make it out to be, why would they want dweebs like you taking a cut?

legion · 01-16-2008, 07:18 AM

Quote:

Originally Posted by widebody911

Think about it - if this was as a lucrative as they try to make it out to be, why would they want dweebs like you taking a cut?

Excellent point Thom.

It's just like the guys who give seminars on getting rich off of RE. If it really worked, wouldn't they be making themselves rich rather than wasting their time teaching a class?

the · 01-16-2008, 07:43 AM

Don't we have a lot of oil in Alaska and off our coasts?

Time to start getting it!

DaveE · 01-16-2008, 08:08 AM

Quote:

Originally Posted by the

Don't we have a lot of oil in Alaska and off our coasts?

Time to start getting it!

Wouldn't it make more sense to use up all the Middle East oil first?

kach22i · kach22i's Garage

Quote:

Originally Posted by DaveE

Wouldn't it make more sense to use up all the Middle East oil first?

It makes more sense to build more wind driven generators and solar panels.

legion · 01-16-2008, 08:14 AM

Quote:

Originally Posted by the

Don't we have a lot of oil in Alaska and off our coasts?

Time to start getting it!

Quote:

Originally Posted by DaveE

Wouldn't it make more sense to use up all the Middle East oil first?

I can see both sides to this.

legion · 01-16-2008, 08:15 AM

Quote:

Originally Posted by kach22i

It makes more sense to build more wind driven generators and solar panels.

To who?

From a purely economic perspective, it makes sense to use the cheapest energy source, which is still oil.

kach22i · kach22i's Garage

Quote:

Originally Posted by legion

To who?

From a purely economic perspective, it makes sense to use the cheapest energy source, which is still oil.

If you add in the cost of supporting a world wide military empire to insure oil stability...............then oil is very expensive.

trader220 · 01-16-2008, 08:19 AM

wind and geothermal are the next place

The Gaijin · 08:30 AM

Wind does not work when you need it most - during a heat wave. In fact it hardly works at all. Another tax shelter driven boondoggle built on the back of taxpayers and stupid property owners.

http://www.youtube.com/watch?v=ePZO76z2iBY

Geothermal has some real potential.

kach22i · kach22i's Garage

I'd rather see giant power lines coming out of Yellowstone than most of the alternatives.