Common_Denominator

10 Signs of a Recession

Brazil is NOT free of gasoline usage. They have a 50-50 mix of
cars running on bio-fuels and gasoline. They make the ethanol out
of sugar cane which is far more efficient than using corn. But they
have an advantage. Their climate and soil is great for sugar cane
growing. Much of US is not.

In US, to produce 1 gallon of ethanol requires 3/4 gallon of gasoline. Average car in US consumes 600 gallons of fuel/year
and that boils down to 60 gallons of ethanol per car per year.

No wonder gasoline and food prices are going through the roof.

10 Signs of a Recession

But as addendum to my post above, I will grant you that "EASY" oil
has been discovered.

OTOH countries like Iran & Venezuela are falling behind on oil production not because they are running out of oil but because of crazy dictators with harmful policies. Iran is in such bad situation, that they will soon need to import petrol in spite of sitting on one of the largest proven oil reserves in the world.

10 Signs of a Recession

Peak oil is a 100 years away at minimum. There is more oil in oil shale in US & Canada than entire oil reserves of Saudi Arabia. ANWAR has 30 years of oil at million+ barrels/day. Brazil just discovered the largest oil field in the world, although it is under sea.
Many Coastal areas have not even been explored yet much less exploited.

The stupid fact is the enviro wacko's have succeeded in making it illegal to process oil shale, drilling in ANWAR & off-shore drilling. But their time is fast coming to an end. The more pain Americans feel at the pump and the cash register, sooner they will wise up.