jaysabi
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March 06, 2017, 07:01:23 PM |
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According to the USGS, the earthquake risk to Oklahoma and southern Kansas equals that of California. Unlike California, which sits on major fault lines, Oklahoma's problem is considered to be a direct cause of fracking. The largest earthquake ever recorded in Oklahoma occurred just last year (5. . Between 1980 and 2000, there were only about 2 earthquakes above 2.7 per year, but there were 2,500 in 2014 and over 4.000 in 2015. For every barrel of oil produced by fracking, about 50 barrels of waste water and chemicals are injected into the ground. Absent the earthquakes, I wonder about the environmental impact of fracking. I guess the earthquakes are just the icing on the cake. Source: http://www.latimes.com/local/lanow/la-me-ln-oklahome-earthquake-20170301-story.html
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Sithara007
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March 09, 2017, 08:14:06 AM |
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Granted, the Saudi reliance on oil is significant compared to other nations. But Saudi Arabia is already on a quest to diversify the economy. The sovereign wealth fund is aimed at transporting the economy to be less oil-dependent, and the sale of part of Saudi Aramco in an IPO has been publicly acknowledged to be for the purpose of shoring up the sovereign wealth fund for this exact purpose. Other oil-rich nations have so far had more success diversifying away from oil, especially UAE, which has been working to establish a robust tourism industry with its oil wealth before the oil runs dry.
Saudi Arabia may not be able to reduce its dependency on oil, unlike Iran. Just compare the two countries. Unlike Iran, Saudi Arabia has no major non-petroleum natural resources. Saudi Arabia imports almost all of its food. Also, the education level of the population is quite low, unlike that in Iran.
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AVATAR & PERSONAL TEXT Leading Crypto Sports Betting & Casino Platform Feel free to drop your doubts bellow Report to moderator ♠ ♥ ♣ ♦ ▬▬▬ ▬ Stake.com / Play Smarter ▬ ▬▬▬ ♠ ♥ ♣ ♦ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ L E A D I N G C R Y P T O C A S I N O & S P O R T S B E T T I N G Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Strongkored Legendary * Online Online Activity: 2072 Merit: 1061 View Profile Personal Message (Online) Trust: +0 / =0 / -0 Ignore Re: [OPEN]Stake.com NEW SIGNATURE CAMPAIGN l NEW PAYRATES l HERO & LEG ONLY May 31, 2022, 08:28:59 AM Reply with quote +Merit #2 Bitcointalk Username: strongkored Profile Link: https://bitcointalk.org/index.php?action=profile;u=640554Post Count: 5040 Forum Rank: Legendary Are you able to wear our Signature, Avatar & Personal Text? will wear upon receipt Stake
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n0ne
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March 09, 2017, 08:20:09 AM |
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Granted, the Saudi reliance on oil is significant compared to other nations. But Saudi Arabia is already on a quest to diversify the economy. The sovereign wealth fund is aimed at transporting the economy to be less oil-dependent, and the sale of part of Saudi Aramco in an IPO has been publicly acknowledged to be for the purpose of shoring up the sovereign wealth fund for this exact purpose. Other oil-rich nations have so far had more success diversifying away from oil, especially UAE, which has been working to establish a robust tourism industry with its oil wealth before the oil runs dry.
Saudi Arabia may not be able to reduce its dependency on oil, unlike Iran. Just compare the two countries. Unlike Iran, Saudi Arabia has no major non-petroleum natural resources. Saudi Arabia imports almost all of its food. Also, the education level of the population is quite low, unlike that in Iran. Not only Saudi Arabia most of the east Asian countries have the same wealth. When oil prices got down the entire economy went down, now it looks to stabilize a bit creating a market by decreasing the supply and making a increase in the price. If the same continues at one point other countries try to make control of it.
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deisik
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March 09, 2017, 09:05:43 AM |
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Granted, the Saudi reliance on oil is significant compared to other nations. But Saudi Arabia is already on a quest to diversify the economy. The sovereign wealth fund is aimed at transporting the economy to be less oil-dependent, and the sale of part of Saudi Aramco in an IPO has been publicly acknowledged to be for the purpose of shoring up the sovereign wealth fund for this exact purpose. Other oil-rich nations have so far had more success diversifying away from oil, especially UAE, which has been working to establish a robust tourism industry with its oil wealth before the oil runs dry.
Saudi Arabia may not be able to reduce its dependency on oil, unlike Iran. Just compare the two countries. Unlike Iran, Saudi Arabia has no major non-petroleum natural resources. Saudi Arabia imports almost all of its food. Also, the education level of the population is quite low, unlike that in Iran This is an important but not the only one factor which should be taken into account While it is certainly true that Iranian economy is a lot more diversified than Saudi Arabian, we should also look at the total population figures (which is another important factor at play here). Population of Iran is about 80 million people, while Saudi Arabia's only 30 million, i.e. two and a half times less. Provided all other things are being equal, Saudi Arabia wouldn't be able to diversify its economy as much as Iran. There just wouldn't be enough hands to make this diversification possible
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Xester
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March 09, 2017, 01:17:27 PM |
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Granted, the Saudi reliance on oil is significant compared to other nations. But Saudi Arabia is already on a quest to diversify the economy. The sovereign wealth fund is aimed at transporting the economy to be less oil-dependent, and the sale of part of Saudi Aramco in an IPO has been publicly acknowledged to be for the purpose of shoring up the sovereign wealth fund for this exact purpose. Other oil-rich nations have so far had more success diversifying away from oil, especially UAE, which has been working to establish a robust tourism industry with its oil wealth before the oil runs dry.
Saudi Arabia may not be able to reduce its dependency on oil, unlike Iran. Just compare the two countries. Unlike Iran, Saudi Arabia has no major non-petroleum natural resources. Saudi Arabia imports almost all of its food. Also, the education level of the population is quite low, unlike that in Iran. Unlike other Arab countries, Saudi Arabia has good economic advisers and they are thinking in advance that when oil depletion will really occur they already have placed some alternative economic movement in their country. Saudi are now making the barren desert into a rich fertile land with the use of irrigation and they wanted to be food independent rather than relying on imports alone. Aside from that they are also developing other business to make Saudi a more competitive country.
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Lieldoryn
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March 09, 2017, 06:48:42 PM |
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Oil prices dived under the influence of a combination of factors. It is the prospect of resource development on the outer continental shelf in the United States, significant growth of reserves of oil and activity of drillers in the U.S., strengthening the dollar, disruptions in the oil fields in Libya, Iran to a new level of production, lower demand forecasts in China, reductions in the price of Saudi oil. A list of the various factors that now have come together. Also on the mark Brent crushed material factors. Plus, the price down pushing another "verbal intervention" of the OPEC members that the market believes less and less. What's next? Probability, about 75% in favor of further decline in oil prices. There is also the possibility of a pullback. But the time.
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tyz
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March 10, 2017, 08:38:39 PM |
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Had to laugh after reading these news on Zerohedge today OPEC Panics, Warns US Shale Not To "Assume" Production Cut Extension
All it took for OPEC to panic, was the sharpest drop in oil prices since last summer, sending WTI not only back under $50, but also wiping out all gains since the November Vienna "supply cut" deal. And another one: Rising Rig Count Leads US Shale To Kill Off The OPEC-Driven Oil Price RallyWith US crude inventories at record highs and production surging higher, the ongoing oil rig count rise in America (up 8 to 617 - 8th week in a row and highest since Sept 2015) signals more 'problems' ahead for a record level of speculative long positioning in black gold. It is time to get prepared for the next short rally.
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jaysabi
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March 12, 2017, 08:37:43 PM |
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Zero hedge is slightly more reputable than infowars as far as integrity of information goes. That is to say, it's slightly less of a raging dumpster fire than the trash that falls out of Alex Jones' gaping maw. The website has dozens of writers who all post under the same anonymous pseudonym (so much for journalistic integrity and accountability) and Bloomberg traced ownership to some disgraced former eastern European hedge fund analyst who was barred from the financial industry for insider trading. That should tell you all you need to know about how far you can trust anything that appears on that website. Post those sources at your own risk.
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Sithara007
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March 13, 2017, 08:55:02 AM |
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Saudi are now making the barren desert into a rich fertile land with the use of irrigation and they wanted to be food independent rather than relying on imports alone. Aside from that they are also developing other business to make Saudi a more competitive country.
Is this some sort of a joke? The Saudis exhausted their water reserves in the late 1980s, after using all of it to farm wheat. Right now, they have hardly any water for irrigation. And water from desalination is extremely expensive (in Israel, the rate is around $0.50 per cubic meter, but in Saudi it costs two times that). For irrigation, you need water at less than $0.05 per cubic meter.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
AVATAR & PERSONAL TEXT Leading Crypto Sports Betting & Casino Platform Feel free to drop your doubts bellow Report to moderator ♠ ♥ ♣ ♦ ▬▬▬ ▬ Stake.com / Play Smarter ▬ ▬▬▬ ♠ ♥ ♣ ♦ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ L E A D I N G C R Y P T O C A S I N O & S P O R T S B E T T I N G Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Strongkored Legendary * Online Online Activity: 2072 Merit: 1061 View Profile Personal Message (Online) Trust: +0 / =0 / -0 Ignore Re: [OPEN]Stake.com NEW SIGNATURE CAMPAIGN l NEW PAYRATES l HERO & LEG ONLY May 31, 2022, 08:28:59 AM Reply with quote +Merit #2 Bitcointalk Username: strongkored Profile Link: https://bitcointalk.org/index.php?action=profile;u=640554Post Count: 5040 Forum Rank: Legendary Are you able to wear our Signature, Avatar & Personal Text? will wear upon receipt Stake
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deisik
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March 13, 2017, 09:04:45 AM |
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Saudi are now making the barren desert into a rich fertile land with the use of irrigation and they wanted to be food independent rather than relying on imports alone. Aside from that they are also developing other business to make Saudi a more competitive country.
Is this some sort of a joke? The Saudis exhausted their water reserves in the late 1980s, after using all of it to farm wheat. Right now, they have hardly any water for irrigation. And water from desalination is extremely expensive (in Israel, the rate is around $0.50 per cubic meter, but in Saudi it costs two times that). For irrigation, you need water at less than $0.05 per cubic meter I don't really know the economics behind such form of agriculture So take my words with a grain of salt (pun intended). Basically, they have plenty of sun and that means they could produce cheap solar electricity and thus lower the costs of water desalination significantly (or build a few nuclear power plants with this purpose in mind). On the other hand, the whole idea of sustaining some form of agriculture in what otherwise is essentially a desert doesn't look very appealing overall. They could just pour their dollars (while they still have them) into something else
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ArdiPrabowo
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March 13, 2017, 09:18:09 AM |
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after up trend from november 2016 until early march 2017 this now oil price is down trend, iam read in forex market oil price, crude oil light sweet 48 dollar/barrel if OPEC not reduce production i think can down again
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hurain
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March 13, 2017, 09:16:43 PM |
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Granted, the Saudi reliance on oil is significant compared to other nations. But Saudi Arabia is already on a quest to diversify the economy. The sovereign wealth fund is aimed at transporting the economy to be less oil-dependent, and the sale of part of Saudi Aramco in an IPO has been publicly acknowledged to be for the purpose of shoring up the sovereign wealth fund for this exact purpose. Other oil-rich nations have so far had more success diversifying away from oil, especially UAE, which has been working to establish a robust tourism industry with its oil wealth before the oil runs dry.
Saudi Arabia may not be able to reduce its dependency on oil, unlike Iran. Just compare the two countries. Unlike Iran, Saudi Arabia has no major non-petroleum natural resources. Saudi Arabia imports almost all of its food. Also, the education level of the population is quite low, unlike that in Iran. Not only Saudi Arabia most of the east Asian countries have the same wealth. When oil prices got down the entire economy went down, now it looks to stabilize a bit creating a market by decreasing the supply and making a increase in the price. If the same continues at one point other countries try to make control of it. but it is also a fact that the resources of natural resources are increasing from time to time, and a time will come when we will be facing energy crises therefor it is important to find out the alternate way of natural resources for getting energy.
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Sithara007
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March 14, 2017, 11:17:50 AM |
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Saudi are now making the barren desert into a rich fertile land with the use of irrigation and they wanted to be food independent rather than relying on imports alone. Aside from that they are also developing other business to make Saudi a more competitive country.
Is this some sort of a joke? The Saudis exhausted their water reserves in the late 1980s, after using all of it to farm wheat. Right now, they have hardly any water for irrigation. And water from desalination is extremely expensive (in Israel, the rate is around $0.50 per cubic meter, but in Saudi it costs two times that). For irrigation, you need water at less than $0.05 per cubic meter I don't really know the economics behind such form of agriculture So take my words with a grain of salt (pun intended). Basically, they have plenty of sun and that means they could produce cheap solar electricity and thus lower the costs of water desalination significantly (or build a few nuclear power plants with this purpose in mind). On the other hand, the whole idea of sustaining some form of agriculture in what otherwise is essentially a desert doesn't look very appealing overall. They could just pour their dollars (while they still have them) into something else As far as I know, only around 35% to 40% of the costs associated with desalination comes from the usage of electricity. The remainder is taken up by the cost of the membranes and manpower. And solar panels are very expensive (and require constant maintenance) right now, which dilutes their advantage of having a vast open desert.
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..Stake.com.. | | | ▄████████████████████████████████████▄ ██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄ ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████ ██ ██████████ ██ ██ ██████████ ██ ▀██▀ ██ ██ ██ ██████ ██ ██ ██ ██ ██ ██ ██████ ██ █████ ███ ██████ ██ ████▄ ██ ██ █████ ███ ████ ████ █████ ███ ████████ ██ ████ ████ ██████████ ████ ████ ████▀ ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██ ██ ▀▀▀▀▀▀▀▀▀▀ ██ ▀█████████▀ ▄████████████▄ ▀█████████▀ ▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄ ██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ █ ▄▀▄ █▀▀█▀▄▄ █ █▀█ █ ▐ ▐▌ █ ▄██▄ █ ▌ █ █ ▄██████▄ █ ▌ ▐▌ █ ██████████ █ ▐ █ █ ▐██████████▌ █ ▐ ▐▌ █ ▀▀██████▀▀ █ ▌ █ █ ▄▄▄██▄▄▄ █ ▌▐▌ █ █▐ █ █ █▐▐▌ █ █▐█ ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄ ▄██▀▀▀▀█████▀▀▀▀██▄ ▄█▀ ▐█▌ ▀█▄ ██ ▐█▌ ██ ████▄ ▄█████▄ ▄████ ████████▄███████████▄████████ ███▀ █████████████ ▀███ ██ ███████████ ██ ▀█▄ █████████ ▄█▀ ▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀ ▀███████ ███████▀ ▀█████▄ ▄█████▀ ▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
AVATAR & PERSONAL TEXT Leading Crypto Sports Betting & Casino Platform Feel free to drop your doubts bellow Report to moderator ♠ ♥ ♣ ♦ ▬▬▬ ▬ Stake.com / Play Smarter ▬ ▬▬▬ ♠ ♥ ♣ ♦ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ L E A D I N G C R Y P T O C A S I N O & S P O R T S B E T T I N G Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Strongkored Legendary * Online Online Activity: 2072 Merit: 1061 View Profile Personal Message (Online) Trust: +0 / =0 / -0 Ignore Re: [OPEN]Stake.com NEW SIGNATURE CAMPAIGN l NEW PAYRATES l HERO & LEG ONLY May 31, 2022, 08:28:59 AM Reply with quote +Merit #2 Bitcointalk Username: strongkored Profile Link: https://bitcointalk.org/index.php?action=profile;u=640554Post Count: 5040 Forum Rank: Legendary Are you able to wear our Signature, Avatar & Personal Text? will wear upon receipt Stake
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deisik
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March 14, 2017, 12:03:09 PM |
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Saudi are now making the barren desert into a rich fertile land with the use of irrigation and they wanted to be food independent rather than relying on imports alone. Aside from that they are also developing other business to make Saudi a more competitive country.
Is this some sort of a joke? The Saudis exhausted their water reserves in the late 1980s, after using all of it to farm wheat. Right now, they have hardly any water for irrigation. And water from desalination is extremely expensive (in Israel, the rate is around $0.50 per cubic meter, but in Saudi it costs two times that). For irrigation, you need water at less than $0.05 per cubic meter I don't really know the economics behind such form of agriculture So take my words with a grain of salt (pun intended). Basically, they have plenty of sun and that means they could produce cheap solar electricity and thus lower the costs of water desalination significantly (or build a few nuclear power plants with this purpose in mind). On the other hand, the whole idea of sustaining some form of agriculture in what otherwise is essentially a desert doesn't look very appealing overall. They could just pour their dollars (while they still have them) into something else As far as I know, only around 35% to 40% of the costs associated with desalination comes from the usage of electricity. The remainder is taken up by the cost of the membranes and manpower. And solar panels are very expensive (and require constant maintenance) right now, which dilutes their advantage of having a vast open desert. So we are basically back to square one as I assumed And with cheap oil no longer available (there were rumors that Saudi Arabian oil reserves are close to being depleted, but these may just be only rumors) and with their wealth funds running dry (and some part of them likely confiscated by the US courts), Saudi Arabia will get back where they had been before oil extraction started, i.e. returning to nomadic life in the desert breeding camels. But since their population has increased during the generous years of oil abundance and hefty prices, the typical outcome would likely be a devastating civil war inside this hornet nest of terrorism
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markyminer
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March 14, 2017, 09:35:44 PM |
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Saudi are now making the barren desert into a rich fertile land with the use of irrigation and they wanted to be food independent rather than relying on imports alone. Aside from that they are also developing other business to make Saudi a more competitive country.
Is this some sort of a joke? The Saudis exhausted their water reserves in the late 1980s, after using all of it to farm wheat. Right now, they have hardly any water for irrigation. And water from desalination is extremely expensive (in Israel, the rate is around $0.50 per cubic meter, but in Saudi it costs two times that). For irrigation, you need water at less than $0.05 per cubic meter I don't really know the economics behind such form of agriculture So take my words with a grain of salt (pun intended). Basically, they have plenty of sun and that means they could produce cheap solar electricity and thus lower the costs of water desalination significantly (or build a few nuclear power plants with this purpose in mind). On the other hand, the whole idea of sustaining some form of agriculture in what otherwise is essentially a desert doesn't look very appealing overall. They could just pour their dollars (while they still have them) into something else As far as I know, only around 35% to 40% of the costs associated with desalination comes from the usage of electricity. The remainder is taken up by the cost of the membranes and manpower. And solar panels are very expensive (and require constant maintenance) right now, which dilutes their advantage of having a vast open desert. So we are basically back to square one as I assumed And with cheap oil no longer available (there were rumors that Saudi Arabian oil reserves are close to being depleted, but these may just be only rumors) and with their wealth funds running dry (and some part of them likely confiscated by the US courts), Saudi Arabia will get back where they had been before oil extraction started, i.e. returning to nomadic life in the desert breeding camels. But since their population has increased during the generous years of oil abundance and hefty prices, the typical outcome would likely be a devastating civil war inside this hornet nest of terrorism in fact the oil price is increasing from time to time. and the reason is the scarcity of oli. the natural resources of oil are now decreasing from time to time and that is the reason the price of natural resource is increasing.
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STT
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March 14, 2017, 09:40:58 PM Last edit: March 14, 2017, 10:11:41 PM by STT |
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(there were rumors that Saudi Arabian oil reserves are close to being depleted, but these may just be only rumors) In general the opposite is true of the area. Iran and Iraq have not received much recent development in their oil assets and have been cut off from modern development for decades almost. Its probable that Iraq exceeds Saudi in their reserves but does not have the infrastructure to access or transport in the way that their neighbours can do so cheaply. Obviously we have a war ongoing in Iraq still, the stability to gain the oil is not there but they arent in theory running out of it in potential.
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Indrawan77
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March 15, 2017, 01:07:24 AM |
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(there were rumors that Saudi Arabian oil reserves are close to being depleted, but these may just be only rumors) In general the opposite is true of the area. Iran and Iraq have not received much recent development in their oil assets and have been cut off from modern development for decades almost. Its probable that Iraq exceeds Saudi in their reserves but does not have the infrastructure to access or transport in the way that their neighbours can do so cheaply. Obviously we have a war ongoing in Iraq still, the stability to gain the oil is not there but they arent in theory running out of it in potential. There are no theory of running out of oil but eventually it will finished that is why in the future oil will become more and more expensive but for now the stock is still enough and the world already create subtitution to decrease the oil usage
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Hydrogen
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March 15, 2017, 04:13:43 AM |
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The process of oil extraction involves obtaining oil near to the surface that is easiest to reach, first.
Gradually the difficulty of extracting oil increases, similar to how bitcoin mining difficulty increases over time.
Eventually we reach a point where it requires more energy to extract and refine oil than the oil is worth.
The key here is "peak oil".
Peak oil describes the height of oil extraction and production that the oil industry can potentially reach.
After that, we face decreased production for the reminder of human history.
Whether or not we've reached a point of peak oil is open to debate.
In terms of long term oil, the value of oil is likely to increase past peak oil.
But past that point we may face diminishing returns as the oil becomes more expensive and difficult to extract & refine which complicates matters.
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bryant.coleman
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March 15, 2017, 09:50:22 AM |
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So we are basically back to square one as I assumed
And with cheap oil no longer available (there were rumors that Saudi Arabian oil reserves are close to being depleted, but these may just be only rumors) and with their wealth funds running dry (and some part of them likely confiscated by the US courts), Saudi Arabia will get back where they had been before oil extraction started, i.e. returning to nomadic life in the desert breeding camels. But since their population has increased during the generous years of oil abundance and hefty prices, the typical outcome would likely be a devastating civil war inside this hornet nest of terrorism
I don't believe that the Saudi Arabian oil reserves are close to depletion. I have seen no proof to support such arguments. Aramco is still pumping oil at a very low cost. And also, the chances of wealth funds getting confiscated in the US is pretty remote. Both the GOP and Democrat politicians (including Trump) are having a favorable view of the Saudi Royal family. But I agree that the rapidly booming population is a major concern. It is just a matter of time before a major unrest is triggered in the kingdom.
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botany
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March 23, 2017, 12:52:48 PM |
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(there were rumors that Saudi Arabian oil reserves are close to being depleted, but these may just be only rumors) In general the opposite is true of the area. Iran and Iraq have not received much recent development in their oil assets and have been cut off from modern development for decades almost. Its probable that Iraq exceeds Saudi in their reserves but does not have the infrastructure to access or transport in the way that their neighbours can do so cheaply. Obviously we have a war ongoing in Iraq still, the stability to gain the oil is not there but they arent in theory running out of it in potential. There are no theory of running out of oil but eventually it will finished that is why in the future oil will become more and more expensive but for now the stock is still enough and the world already create subtitution to decrease the oil usage We all know that the overall supply of crude is limited, but inventories are swelling at the moment. This is pushing the price down. http://www.cnbc.com/2017/03/21/oil-prices-fall-on-bloated-us-crude-storage.html
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