tag:blogger.com,1999:blog-5251183560375528307.post201046723647328247..comments2024-03-28T10:30:02.679-05:00Comments on Bit Tooth Energy: ASPO Conference - second day before lunchHeading Outhttp://www.blogger.com/profile/01790783659594652657noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5251183560375528307.post-11768028207107632732010-10-09T19:30:53.423-05:002010-10-09T19:30:53.423-05:00There's an argument, Bruce, that the best thin...There's an argument, Bruce, that the best thing shareholder-owned oil companies could do is announce that they will not blow their shareholders' money on schemes to replace oil & gas; instead, they will return the money to its rightful owners and let each shareholder re-invest it as he sees fit.<br /><br />There is also an argument that this is already happening, with the massive share buy-backs that so many oil companies have been doing for some years.<br /><br />The reality is that the International Oil Companies (IOCs) are opportunity-constrained. They have more money to invest than they have places where they are allowed to participate. As the opportunities diminish further, the IOCs will go out of business, profitable to the end.<br /><br />The future of global oil supplies lies with the National Oil Companies (NOCs), and their aims are different. <br /><br />Technologically, there is no reason for concern. Yes, fossil fuels are finite and will run out some day. But we have a viable alternative already (synthetic fuels manufactured with nuclear power), and who knows what future research may yield. <br /><br />Our problems are all political. And I mean "our" (i.e. Western) problems -- China, India, Brazil, Russia are going to be just fine, regardless of what "we" choose to do or not do.Kinuachdrachhttps://www.blogger.com/profile/13275320683766290581noreply@blogger.comtag:blogger.com,1999:blog-5251183560375528307.post-54150593737992179852010-10-09T11:57:39.086-05:002010-10-09T11:57:39.086-05:00I understand the generation of balding well enough...I understand the generation of balding well enough, having dabbled in idiocy myself. And indeed there is a lot more skin than hair now too.<br /> If nothing else the Oil companies need a business plan that factors in reduced production.<br />Surely they are prepared to step into new shoes when the time comes.<br /><br /> I agree with your assessment of Nuclear. <br /> <br /> I fear peak oil less than maybe I should. I do fear the blind repulsion of nuclear. And the corresponding delight in big government.<br />Both point to a lessor America. Something my generation should see by now.brucehttps://www.blogger.com/profile/06911036379896402069noreply@blogger.comtag:blogger.com,1999:blog-5251183560375528307.post-8230682443553011772010-10-09T09:34:27.389-05:002010-10-09T09:34:27.389-05:00Get serious, Bruce. "Big Oil" isn't...Get serious, Bruce. "Big Oil" isn't that big anymore. It is just that 1960s campus radicals are still living in the days when they had hair, and have failed to keep up with the times.<br /><br />The main players in the international oil industry today are politically-controlled National Oil Companies, who provide most of the production and hold almost all the signficant reserves.<br /><br />That reality points to a key fact -- future oil production is going to be determined by politics, not by resources or technology (which provide an upper limit for sure; but actual production is way below that theoretical limit).<br /><br />Because oil supply is politically controlled, the rational response to current concerns would be for oil importing areas (EU, China, Australia, US) to expand the use of nuclear power and develop alternative sources of liquid fuels, such as Coal-To-Oil. <br /><br />If you follow the press reports, China is in fact doing this, along with importing all the oil they can and expanding strategic reserves. Other importers -- not so much. And the reason that EU, Australia, US are not acting in their own best interests? That would be politics (again).Kinuachdrachhttps://www.blogger.com/profile/13275320683766290581noreply@blogger.comtag:blogger.com,1999:blog-5251183560375528307.post-22482871206025369002010-10-09T08:30:18.151-05:002010-10-09T08:30:18.151-05:00I have to think Big Oil knows what is coming.
What...I have to think Big Oil knows what is coming.<br />What are they planning?brucehttps://www.blogger.com/profile/06911036379896402069noreply@blogger.com