Reply #41: He did it ... for the blessed Free Market. OIL, The Blood of Capitalism [View All]

[ShortnFiery]

:crazy:

We're not due to reach PEAK Oil Prices until 2020. There's a hell of a lot more BILLIONS to be made via oil exploration and massaging the Markets. :evilgrin:

We're Americans, and will be damned if we'll deny our OWNERS within the multi-national OIL cartels "their profit margin" until they are FORCED TO by NATURE. :eyes:




http://www.321energy.com/editorials/russell/russell110205.html

"Today, we are in a new period of tightening oil supplies along with correspondingly-high oil prices. Our situation is now seen to have its principle origin in geologic realities that have been only recently recognized. This 'energy crisis' may not go away in a year or even in five years. Perhaps not in my lifetime. Crude oil is more difficult and more costly to find every year because easy-to-access oil has already been exploited. Demand around the world keeps rising, some 1.5% to 2.5% per year. We are using 31 billion barrels annually now, and finding 8-10 billion barrels at the most.

This is the old crisis story -- made permanent. We are in a new era, all right, and I project that one will support a continued average WTI (West Texas Intermediate)crude oil price above $50 per barrel going out in time. And I anticipate prices will move (generally) higher until we reach Hubbert's Peak perhaps in the 2015-2020 period.