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LWW
03-01-2012, 08:49 AM
Because it isn't ... the dollar has been destroyed. (http://www.youtube.com/watch?v=S8WReKlUFP4)

The only part I disagree with is that increased production in the US won't lower dollar:oil prices.

Increased domestic production would boost economic activity and strengthen the US dollar, thereby driving down the price of gold in dollars and the price of oil in dollars.

It ain't rocket science ... yet it escapes the left's self proclaimed smartest POTUS in history, as well as the majority of the US left itself.

Soflasnapper
03-01-2012, 11:22 AM
It's not rocket science, but somehow you do not understand it.

In no way would increased domestic oil production result in a lower price, since the global demand led by India and China's economic growth is increasing by far more than the incremental additional production that can take place here, AND the DECLINE of all the existing world oil fields is ALSO more than anything extra we can add from domestic drilling.

Just look up these numbers for the comparison. Maybe 5% growth in annual world demand for oil-- right there, can we make THAT much extra oil available? And if so, more than for one year or something?

Similarly, look at the declining production in the world's largest production areas. Is it feasible that we can increase our production here, consistently, so as to create more supply than now as the production declines continue and increase each year as the fields reach their peak oil 50% point of diminishing returns?

If you claim US production CAN overcome these things, remember, it has to overcome BOTH those things, or oil demand will be larger on a smaller supply, meaning oil prices must rise.

Clearly impossible.

LWW
03-01-2012, 11:28 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Soflasnapper</div><div class="ubbcode-body">In no way would increased domestic oil production result in a lower price ...</div></div>

That is the regime's position.

Yet, somehow, they are convinced that increased Saudi output will lower the price?

The reason for this illogical doublethink?

The regime said so.

Soflasnapper
03-01-2012, 12:31 PM
You'd have to run the numbers to understand why, so perhaps you will never know.

Apparently the great Saudi fields are in considerable decline, and do not allow for any large increased pumping amount. It's quite unclear these days, as Saudi Arabia kicked out/took over Aramco, and the only data available is what they choose to release.

The upward track of world demand is going to require maybe 10 mbd more than is pumped now, and supposedly the Saudis can do all of that. Which is probably false, but that's the theory.

Can the US ADD 10 mbd to its current production? Certainly not, as our PEAK production was only 10 mbd, and that hasn't been achieved since the '70s, as Mr. M. King Hubbert had (accurately) predicted would be our peak oil production time, back in his '56 prediction.

Hubbert's peak oil theory (http://en.wikipedia.org/wiki/Hubbert_peak_theory)

US production, Hubbert prediction and actual (http://en.wikipedia.org/wiki/File:Hubbert_US_high.svg)

LWW
03-01-2012, 12:51 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LWW</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Soflasnapper</div><div class="ubbcode-body">In no way would increased domestic oil production result in a lower price ...</div></div>

That is the regime's position.

Yet, somehow, they are convinced that increased Saudi output will lower the price?

The reason for this illogical doublethink?</div></div><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Soflasnapper</div><div class="ubbcode-body">You'd have to run the numbers to understand why, so perhaps you will never know </div></div>

http://www.websmileys.com/sm/happy/059.gif http://www.websmileys.com/sm/happy/1074.gif http://www.websmileys.com/sm/happy/1459.gif http://www.websmileys.com/sm/happy/516.gif http://www.websmileys.com/sm/happy/552.gif http://www.websmileys.com/sm/happy/682.gif http://www.websmileys.com/sm/happy/783.gif http://www.websmileys.com/sm/happy/986.gif

No manner how low the bar is set ... you can always get under it.

You may now resume your spoon feeding schedule.

LWW
03-01-2012, 01:00 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Soflasnapper</div><div class="ubbcode-body"> BLAH BLAH BLAH ... MALTHUSIAN JIBBA JABBA ... BLAH BLAH BLAH ... I LOVE HYPOTHESES WRITTEN BY IDIOTS ... BLAH BLAH BLAH ... AL GORE SAYS IT'S SO, SO IT MUST BE SO ... BLAH BLAH BLAH ... </div></div>

The truth is that proven oil reserves were higher than at any point in recorded history in 1920 ... and was higher still in 1930 ... and was higher still in 1940 ... and was higher still in 1930 ... and was higher still in 1930 ... and was higher still in 1950 ... and was higher still in 1960 ... and was higher still in 1970 ... and was higher still in 1980 ... and was higher still in 1990 ... and was higher still in 2000 ... and will be shown to have been higher still in 2010.

You may now resume your spoon feeding schedule.

Soflasnapper
03-01-2012, 02:38 PM
http://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Chart-of-Oil-Trading-Nation.gif/800px-Chart-of-Oil-Trading-Nation.gif

Note the data displayed below is the production/export totals by listed country.

Notice no China shown, because China doesn't produce any oil?

What is their usage, and what is its change?

China's Crude Oil Imports Data for January [3/1/2010 11:33:48 AM]
Crude Oil imports in Jan. totalled 17,105,839 tons, <span style='font-size: 14pt'>grow +33.39% on year.</span>
China's Crude Oil Imports Data for December [3/1/2010 3:18:16 PM]
Crude Oil imports in December totalled 21,263,234 tons,<span style='font-size: 14pt'> up +47.95% on year;and was accumulated to 203,786,208 tons from Jan-Dec, rose +13.92%.
</span>

By the rule of 72, divide these growth rates into 72 to find out how many years it will take to double if the growth rate is constant:

72/13.92 = 5.172 years to double

From the China oil use page (http://data.chinaoilweb.com/crude-oil-import-data/index.html)

Do you begin to see the problem yet?

cushioncrawler
03-01-2012, 03:57 PM
Usofa smelt reading this stuff must be shitting themselves.
Save the smelt.
mac.

cushioncrawler
03-01-2012, 11:41 PM
A low price sign iz not az effektiv az a high price sign.
For example here iz a low price sign.
http://i120.photobucket.com/albums/o195/curse_tea/Life%20in%20NZ/DSCN3891.jpg

cushioncrawler
03-01-2012, 11:42 PM
A bit higher, but we kan do better.
http://i226.photobucket.com/albums/dd155/phobiphantom10/WESELLCHILDREN.jpg

cushioncrawler
03-01-2012, 11:48 PM
http://i241.photobucket.com/albums/ff58/themoo08/gas.jpg