Oil Man

Oil Price: $100 Before $150 - But $200 Before $50

FIREBALL. I came to live in Portugal for romantic reasons but I am staying for economic reasons. America is declining rapidly. "The bigger they are the harder they fall". The minimum wage here is only 350 euros a month! This was a shock to me as well as the average wages for most proffessions, but we don't have the expenses and excesses of the US. Mass transit: no need to own a car, and if you do own centralized cities short distances, less gas consumption, temperate climate: no need for central heat or air. Nationalized medicine: no need for medical insurance (I recently had a hernia operation and it cost 20 euros!) Cheap power from hydro electric and alt. energy.

America is in big trouble, at least for the middle and lower classes. Many poeple in the US are going to have very difficult times ahead. Things that were once taken for granted will become difficult (buying a home, driving to work, cheap fast food, etc.)

I still vote though and hope that some day the intelligent and resourcefull Americans will find changes and solutions for the problems. The current adm. certainly is not either of these. All info is available on these subjects with just a few clicks on google. Americans have to stop searching porno and celeb. sites and get informed. Stop watching the national news and slanted cable news. Make desicions about their future based on conclusions from the facts and not what there neighbors, friends or politicians think. We must tell our politians what is needed, not them telling us! Don't follow the heard. Be a bull and lead. That is what made America strong. Creativity, thinking outside the box, hard work and going against the norms made America a great country, not acting like a bunch of sheep, and just doing what everyone else does.

Oil Price: $100 Before $150 - But $200 Before $50

"Oil Price: $100 Before $150 - But $200 Before $50" ! What a joke! How about Mexico, the third largest importer of oil to the US. (1.2mbd)Their production is declining rapidly and will probably stop exporting to the US in 3-5 years. Many other countries are in the same boat. The remaining oil that these countries have is being pumped out as fast as possible using pressure injection extraction techniques. (The Saudies are using this to increase output!)The US is in big trouble. Oil is its lifeline. New technologies (liquid coal, and gassification) are at least 10 years away from commercial production. There is no money in the US budget for mass transit or tax credits for fuel efficiency since the war has emptied its coffers. The US citizen has two choices. Suffer and put up with the consequences of increasing prices (shortages are right around the corner) or leave the country! I left in 2001 and have no plans on returning. I live in Europe. Europe can get along with less oil and higher prices, (accessable mass transit, centralized cities). We don't need cars to have a good life and prosper! The US is in for a big shock. The US will be a very different place at the end of the next decade, or sooner!

1,238 Billion Barrels of Oil Reserves: Is This an Oil Price Bubble?

How can these figures be acurate? Most of the middle eastern countries have not had any independent assesment of oil reserves since 1979! Aramco was onced US owned and in 1979 the reserves we scientifically estimated at 80 BBLs! After they kicked out the US the figure magically rose to 200Bbls and has stayed there since 1980! If you guestimate the middle east's actual reserves it should be between 150Bbls to 350Bbls no way near 755.3 Bbls. World reserves somewhere between 600Bbl to 800Bbl. No one really knows! We are using around 31Bbl per year. This only gives us about 20 to 30 years before we run dry at current levels! Also to consider is that this is not all Light sweet crude. At least 30% or more is heavy sour crude which has very few refineries and is not cost effective to refine. I think we are in big trouble if we don't get off our oil addiction ASAP!