Analyst Says Oil Supply Problems Could Loom

[lovuian]

http://feeds.bignewsnetwork.com/redir.php?jid=dfd93daa5c9fbde2&cat=c08dd24cec417021

Analyst Says Oil Supply Problems Could Loom
Wed Nov 17, 2004 05:17 PM ET

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By Mark Babineck
HOUSTON (Reuters) - The world's oil supply is headed toward a crisis state that could flare as early as next year, fueled by steaming demand and declining production, a longtime sector investor and analyst said on Wednesday.

"I think we're basically seeing the oil markets headed toward a literal brick wall," said Matt Simmons, chief executive of Simmons & Co. International, a Houston-based investment firm.

"We're basically about to see demand surge above supply if we have a normal winter in the Northern Hemisphere. If we don't have a mild winter, then 'Houston, we have a problem."' he said at Deloitte's annual oil and gas conference in Houston


Oh Oil prices are headed up more better get some blankies!!!

[Catch22Dem]

1. Peak Oil - Can you say $90/barrel?

[Terry in Austin]

5. Try $182/barrel

Matthew Simmons, the analyst mentioned in the linked article, said last spring that oil should be going for $182 right now.

[hatrack]

2. Well Heavens to Betsy - it's dribbling into the wire services!

What next, page A23 of the WP? Will wonders never cease?

[rooboy]

4. LOL n/t

[amber dog democrat]

3. could loom ? COULD LOOM ?

You better get rid of that SUV while some one is still foolish enouh to take it off your hands. I hate to be an I told you so.

[Warpy]

6. Hey, my "other car" is an electric moped

and my first major purchase when I manage to find someone dumb enough to hire an old wreck like me will be a solar charger for it.

The Chinese have put up with bicycles long enough, and increased incomes are translating into gas scooters and cars. THAT is what is hastening the peak oil crisis, something that likely wouldn't have happened for another decade if American corporations hadn't stupidly exported the industrial infrastructure!

In the meantime, all the belligerence in the world won't do us a bit of good as the world economy shifts to the Euro and Bush's disastrous economic bungling runs its full course.

I just hope the dumb bastard doesn't get us into another world war. We will lose it. We no longer make cloth, shoes, vital electronics components or even enough bullets to supply the war in Iraq. Retooling will not be possible, as all the industrial machinery was either shipped overseas along with our jobs or sold for scrap and melted down. Our factories now house yuppies in chichi lofts.

Our leaders have been shortsighted, greedy and stupid, and we will all be losers because of it.

[amber dog democrat]

8. We are like the Byzantine Empire

Just before Venetians and Franks invaded in the 1240s.
No longer have the means to defend ourselves and ripe for the taking, rich beyond the means of most of the world, hated and feared by other nations and infected with incompetant political leadership.
I hope you have a plan B for your life.

[Terry in Austin]

7. The SUV

and the house in the 'burbs. Biking/busing distance to work.

[RyomaSakamoto]

9. Harvard analyst thinks we can solve the problem in 20 years...

by saving 5mpg per gallon if we enact good policies - lol

my boss thinks we got the tech already and we won't pull it out till we squeeze the last drop of profit outta OIL :scared:

[RubyCat]

10. vegetable oil car

How much does a gallon of vegetable oil cost? I've heard that it has the same energy density as diesel. People are currently using used vegetable oil, from restaurants, to run their vegetable oil and biodiesel cars.

Is it possible to reduce the cost of producing a gallon of vegetable oil to a point lower than a gallon of diesel fuel? Agriculture is one of America's strengths. We might be able to grow our way out of our energy crisis.

[Dogmudgeon]

11. Biodiesel isn't (currently) viable

The EROEI -- Energy Returned Over Energy Invested -- is under the magic 1.0 required for a break-even.

Plus, there's a major soybean rust (a plant plague) getting started in the South. Most of the inexpensive vegetable oil comes from soybeans.

Biodiesel has potential as a "boutique" fuel, but not for widespread use. That may change, but if it does become useful and cost-effective, it will be that way in a vastly different world.

--bkl

[DireStrike]

12. We're going to have a cold winter - Farmer's Almanac

=(

[Wright Patman]

14. So far it's very balmy

where I am. Of course, Texas doesn't have cold winters by northern standards. But we should have had a killing frost by Nov. 15. The low for the season so far is about 40. The leaves are still on most of the trees and they are still mostly green. It's bizarre. It's as if I am living near the Mexican border rather than the one with Arkansas and Louisiana.

[DireStrike]

15. You'll have cold Nov, Mild Dec/Jan, VERY cold Feb, and march...

Depending on where you are can be either mild or Very cold.

[LynnTheDem]

13. So who gets invaded next, now that Iraq's pool of oil isn't co-operating?

Canada has the 3rd largest pile of reserves, I believe.

CANADA HAS WMD!!! CANADA HAS MASS GRAVES!!! CANADA HAS BALSAWOOD KILLER-DRONES!!! INVADE! INVADE! INVADE!