The price of gas

"Tom Sixkiller" wrote in message
...

out.

"Marion King Hubbert, a geophysicist and a geologist for the USGS, is
known
for predicting, in 1956, that U.S. oil production would peak in 1970 and
decline thereafter. This peak has come to be known as Hubbert's peak and
is
used to allegedly demonstrate that the current demand for oil will lead to
a
crisis and that that crisis is nearly upon us."


Remakably he was only off by a couple of years.

Mike
MU-2

"Mike Rapoport" wrote in message
ink.net...

"Tom Sixkiller" wrote in message
...

out.

"Marion King Hubbert, a geophysicist and a geologist for the USGS, is
known
for predicting, in 1956, that U.S. oil production would peak in 1970 and
decline thereafter. This peak has come to be known as Hubbert's peak and
is
used to allegedly demonstrate that the current demand for oil will lead
to
a
crisis and that that crisis is nearly upon us."


Remakably he was only off by a couple of years.

Production peaked due to interference by EPA and others, not due to
availability or resources. IOW he was right for the wrong reasons.

This doesn't sound right. Are you saying the "EPA and others," meaning
government regulation, reduced the oil well reserves?


"Tom Sixkiller" wrote in message
news

Production peaked due to interference by EPA and others, not due to
availability or resources. IOW he was right for the wrong reasons.

"Peter Gottlieb" wrote in message
et...
This doesn't sound right. Are you saying the "EPA and others," meaning
government regulation, reduced the oil well reserves?

Reserves (from the time) and known resources are much higher than what we're
extracting.



"Tom Sixkiller" wrote in message
news

Production peaked due to interference by EPA and others, not due to
availability or resources. IOW he was right for the wrong reasons.

Wasn't there an article in the WSJ a week or two ago where some oil company
execs said the regs weren't the primary issue?

I didn't look into it further. What's the problem? Failure of the
marketplace to place sufficient refining capacity on line? The price of
bringing more well capacity online is too high or unpalatable to the public?
What? Or is it working the way it's supposed to and there are just a bunch
of people annoyed at higher prices?

Are you an expert in the field (no pun intended) or just going with a gut
feeling? Just curious, because while I would gladly discuss with someone
with significant industry knowledge I really don't have any time to debate
environmental politics or with someone who bases their knowledge on one
party's propaganda (either one). No offense but it's late.


"Tom Sixkiller" wrote in message
...

"Peter Gottlieb" wrote in message
et...
This doesn't sound right. Are you saying the "EPA and others," meaning
government regulation, reduced the oil well reserves?

Reserves (from the time) and known resources are much higher than what
we're
extracting.

"Peter Gottlieb" wrote in message
et...
Wasn't there an article in the WSJ a week or two ago where some oil
company
execs said the regs weren't the primary issue?

I didn't look into it further. What's the problem? Failure of the
marketplace to place sufficient refining capacity on line?

If there's not enough capacity to meet the market demand, that would
indicate the market palce is not acting without significant interference.

The price of
bringing more well capacity online is too high or unpalatable to the
public?
What? Or is it working the way it's supposed to and there are just a
bunch
of people annoyed at higher prices?

Check out how much it costs to get past the EPA and the rest fo the
government alphabet soup to build refining capacity, to drill, or other
facilities.

Are you an expert in the field (no pun intended) or just going with a gut
feeling? Just curious, because while I would gladly discuss with someone
with significant industry knowledge I really don't have any time to debate
environmental politics or with someone who bases their knowledge on one
party's propaganda (either one). No offense but it's late.

No offense, but you can look up hard data, and stay away from the mainstream
media, who are not known as experts, either, not just party propaganda (in
my case the CATO Institute, which is non-partisan...they give Dem's and
Repug's both barrels)


"Tom Sixkiller" wrote in message
...

"Peter Gottlieb" wrote in message
et...
This doesn't sound right. Are you saying the "EPA and others,"
meaning
government regulation, reduced the oil well reserves?

Reserves (from the time) and known resources are much higher than what
we're
extracting.

Check out how much it costs to get past the EPA and the rest fo the
government alphabet soup to build refining capacity, to drill, or other
facilities.

You can extend that statement to EVERYTHING nowadays.

You should see the cost of all the various EPA reports just for our airport
to extend a friggin' runway by a 1000 feet. It's incredible.

Best of all, we have paid this fee (really a "hidden" tax) over and over,
because OTHER government agencies have conspired to delay or change the
design of this runway a dozen times, over the last 10 of 15 years.

And each time the plan is changed, guess what? You need ANOTHER
"environmental impact statement"...

The company that contracts this service simply massages the old data,
reissues it in new book form, and cashes yet another check.

What a scam.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

When it is profitable enough then more refining capacity will be built. On
the production side, the market is telling you that it is not very
attractive to drill at recent prices.

Mike
MU-2

"Peter Gottlieb" wrote in message
et...
Wasn't there an article in the WSJ a week or two ago where some oil
company
execs said the regs weren't the primary issue?

I didn't look into it further. What's the problem? Failure of the
marketplace to place sufficient refining capacity on line? The price of
bringing more well capacity online is too high or unpalatable to the
public?
What? Or is it working the way it's supposed to and there are just a
bunch
of people annoyed at higher prices?

Are you an expert in the field (no pun intended) or just going with a gut
feeling? Just curious, because while I would gladly discuss with someone
with significant industry knowledge I really don't have any time to debate
environmental politics or with someone who bases their knowledge on one
party's propaganda (either one). No offense but it's late.


"Tom Sixkiller" wrote in message
...

"Peter Gottlieb" wrote in message
et...
This doesn't sound right. Are you saying the "EPA and others,"
meaning
government regulation, reduced the oil well reserves?

Reserves (from the time) and known resources are much higher than what
we're
extracting.

When it is profitable enough then more refining capacity will be built.
On
the production side, the market is telling you that it is not very
attractive to drill at recent prices.

I was under the impression that restrictive EPA regulations had essentially
halted new refinery construction?
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

"Mike Rapoport" wrote in message
nk.net...
When it is profitable enough then more refining capacity will be built.

Don't think so. Couldn't do it if they if they wanted to. If the regs were
"relaxed", it would still be prohibitive after the cost of dealing with the
regs were amortized.

On
the production side, the market is telling you that it is not very
attractive to drill at recent prices.

As one person pointed out to me: the oil companies that took a beating the
past ten years or so were the ones that merely did refining, not drilling.
(He mentioned Texaco and a few others I don't recall / recognize).