THE OIL AND GAS BUBBLE IS ABOUT TO POP!!!

[Bitcoin-hotep]

so, short crude oil and natural gas then.......

Start investing in other technologies.

Ex: Where is Solar Coin and Eco Coin and Wind Coin, etc. That have like 10% of coins mined going to tech development?
Have you ever seen a Bitcoiner that made a Windmill that gathers energy?
There are people with Solar mining machines https://bitcointalk.org/index.php?topic=189959.0
Is there anyone near a river that has a hydraulic mining rig?

[Bitcoin-hotep]

Also, a lot of people don't recognize this, but Marijuana/Hemp can be used to make Alcohol, which is Ethanol. Which is Bio-Diesel.
So the boom in Marijuana around the country will also probably lead to a boom in renewable fuel. Just give everyone a few years to learn everything about the plants they are messing with.

[Bitcoin-hotep]

Does anyone know of any gas stations that accept Bitcoin yet?

[SunBin]

Also, a lot of people don't recognize this, but Marijuana/Hemp can be used to make Alcohol, which is Ethanol. Which is Bio-Diesel.
So the boom in Marijuana around the country will also probably lead to a boom in renewable fuel. Just give everyone a few years to learn everything about the plants they are messing with.

Marijuana is more valuable as a consumable good by people. No rational person going to use it as fuel where fuel can be obtained cheaper elsewhere.

[Bitcoin-hotep]

Also, a lot of people don't recognize this, but Marijuana/Hemp can be used to make Alcohol, which is Ethanol. Which is Bio-Diesel.
So the boom in Marijuana around the country will also probably lead to a boom in renewable fuel. Just give everyone a few years to learn everything about the plants they are messing with.

Marijuana is more valuable as a consumable good by people. No rational person going to use it as fuel where fuel can be obtained cheaper elsewhere.

You are making a mistake.

The alcohol would come from the sugars, which would be in the waste material, like fan leaves and stalk. The buds are full of starches, so there are 2 parts to be used. And even if you use the sugar leaves for hash, you still have fan leaves and stalks/stems.

[taylortyler]

Also, this is a little of topic, but I recently saw an episode of VICE where they talked about the North Pole glaciers and stuff and they were talking about how there is over 30% of the worlds oil reserves are under the ice up there. And as we melt everything, more of it becomes available, and as drilling tech gets better, more of it becomes available.

So not only has fracking opened up oil that was previously inaccessible, there are now oil fields that HAVE melted open and ARE melting open, and America has a claim to a percentage of that land, since they own Alaska and the water around Alaska makes America a "border" to the North Pole.

So, no matter what, there is tons of oil coming on the market. It doesn't matter if it comes from the deserts or the tundras or South America or Africa, it's coming.

They have an incentive to melt the ice caps. Perfect.

[Bitcoin-hotep]

Also, this is a little of topic, but I recently saw an episode of VICE where they talked about the North Pole glaciers and stuff and they were talking about how there is over 30% of the worlds oil reserves are under the ice up there. And as we melt everything, more of it becomes available, and as drilling tech gets better, more of it becomes available.

So not only has fracking opened up oil that was previously inaccessible, there are now oil fields that HAVE melted open and ARE melting open, and America has a claim to a percentage of that land, since they own Alaska and the water around Alaska makes America a "border" to the North Pole.

So, no matter what, there is tons of oil coming on the market. It doesn't matter if it comes from the deserts or the tundras or South America or Africa, it's coming.

They have an incentive to melt the ice caps. Perfect.

Lol, what if that is why FOX wants them to melt.

[Swordsoffreedom]

I do feel like this bubble will not pop just yet
Only because of the fact that if Iraq gets taken over oil security in the Middle East will be at risk yet again
Not really affecting US/CAD supplies but it will get the speculators pushing the market price up again lol.

[Bitcoin-hotep]

I do feel like this bubble will not pop just yet
Only because of the fact that if Iraq gets taken over oil security in the Middle East will be at risk yet again
Not really affecting US/CAD supplies but it will get the speculators pushing the market price up again lol.

But the Kurds are becoming established, ISIS is becoming established, and you KNOW America and Russia are involved on both sides of this somehow.

[Swordsoffreedom]

I do feel like this bubble will not pop just yet
Only because of the fact that if Iraq gets taken over oil security in the Middle East will be at risk yet again
Not really affecting US/CAD supplies but it will get the speculators pushing the market price up again lol.

But the Kurds are becoming established, ISIS is becoming established, and you KNOW America and Russia are involved on both sides of this somehow.

True enough OIL is a form of diplomacy a lot of money moves into it
That said it might push the price per gallon to 4 dollars for a while this summer before coming back down
I miss cheap oil and gas but supplies are getting more expensive since we pretty much mined all the cheap stuff lol.

[Bitcoin-hotep]

I do feel like this bubble will not pop just yet
Only because of the fact that if Iraq gets taken over oil security in the Middle East will be at risk yet again
Not really affecting US/CAD supplies but it will get the speculators pushing the market price up again lol.

But the Kurds are becoming established, ISIS is becoming established, and you KNOW America and Russia are involved on both sides of this somehow.

True enough OIL is a form of diplomacy a lot of money moves into it
That said it might push the price per gallon to 4 dollars for a while this summer before coming back down
I miss cheap oil and gas but supplies are getting more expensive since we pretty much mined all the cheap stuff lol.

Yeah, I am not saying it is going to happen like tomorrow. But it WILL happen, we are in a bubble. It is just a matter of when it decides to pop.

[DrG]

No major change in the usage of energy since the beginning of the last century.  We still rely on power plants built 1/2 a century ago.  Cars run on the same hydrocarbon fuels, except now we can lug around heavy batteries too.

For every 1% increase in efficiency the world is using 2% more energy.

[Swordsoffreedom]

No major change in the usage of energy since the beginning of the last century.  We still rely on power plants built 1/2 a century ago.  Cars run on the same hydrocarbon fuels, except now we can lug around heavy batteries too.

For every 1% increase in efficiency the world is using 2% more energy.

Yep Jevon's Paradox the more efficient the technology the greater the consumption.
At least it means we are finding efficiencies though take the nuclear energy industry no new capacity since the 1970s but it still retains the same market share due to improvements over the decades.

[Bitsaurus]

No major change in the usage of energy since the beginning of the last century.  We still rely on power plants built 1/2 a century ago.  Cars run on the same hydrocarbon fuels, except now we can lug around heavy batteries too.

For every 1% increase in efficiency the world is using 2% more energy.

Yep Jevon's Paradox the more efficient the technology the greater the consumption.
At least it means we are finding efficiencies though take the nuclear energy industry no new capacity since the 1970s but it still retains the same market share due to improvements over the decades.

I'm hoping India's thorium projects will provide some critical success and show an alternative to the current fuels used in modern reactors.  That is a project that has a 50 year vision, not the week by week energy policy of the US.

[Swordsoffreedom]

No major change in the usage of energy since the beginning of the last century.  We still rely on power plants built 1/2 a century ago.  Cars run on the same hydrocarbon fuels, except now we can lug around heavy batteries too.

For every 1% increase in efficiency the world is using 2% more energy.

Yep Jevon's Paradox the more efficient the technology the greater the consumption.
At least it means we are finding efficiencies though take the nuclear energy industry no new capacity since the 1970s but it still retains the same market share due to improvements over the decades.

I'm hoping India's thorium projects will provide some critical success and show an alternative to the current fuels used in modern reactors.  That is a project that has a 50 year vision, not the week by week energy policy of the US.

I think that Thorium was a smarter idea than uranium as an energy fuel historically the main reason uranium was used was because it was possible to build a nuclear weapon out of it while thorium reactors while not impossible to make nuclear weapons with was more difficult to use.
http://www.beyondnuclear.org/storage/fact-sheets/Thorium%20and%20Nuclear%20Weapons.pdf

There were already thorium reactors 30 to 40 years ago experimental types but they were destroyed in favor of a Uranium based alternative, that said India has a lot more thorium than uranium so it makes sense for them to switch over to that instead to power their cities.

Still if the world had thorium and uranium reactors built simultaneously instead of favoring one over the other as the founder of the nuclear navy General Rickover wanted the sustainability of alternative energy systems would probably have substituted oil and as long as proper care is given and we don't end up with Three Mile Island or Fukushima incidents.

That said this is also the same man who helped to develop the efficiencies of Uranium based reactors to its current standard by always seeking to improve it so he deserves some credit for that as well, although he did purge Weinberg in the process as a non-negotiating person.

http://www.energyandcapital.com/articles/admiral-rickover-missed-the-boat-on-thorium-and-doomed-us-all/4496

The idea of using thorium for nuclear energy has been around for decades. But it has always taken second place to uranium because — get this — it is hard to make bombs out of it.

That's right; when the world's superpowers were waging the Cold War, the last thing they wanted was nuclear power that wouldn't destroy their enemies. The result of this was that Admiral Rickover, the father of the nuclear navy, pushed uranium over thorium.

The scientists who worked for the military went on to civilian life after the war and replicated what they knew, and that was uranium-based reactors.

The sad part is that thorium beats uranium in all aspects of electricity production. It is cheaper, safer, faster, scalable, more efficient, and produces much less waste.

[bryant.coleman]

This year so far, there has been considerable reduction in the oil output from Russia and Saudi Arabia. The Russian oil production has fallen by 4%, while the Saudi output has declined by 2%. And the Iraqi and Libyan oil production are nowhere close to the optimal levels.

[Swordsoffreedom]

This year so far, there has been considerable reduction in the oil output from Russia and Saudi Arabia. The Russian oil production has fallen by 4%, while the Saudi output has declined by 2%. And the Iraqi and Libyan oil production are nowhere close to the optimal levels.

That and its a bit funny but the only place with increasing oil production was the area that is now in the middle of a civil war
That and the US kind of killed Libyas production which is still reeling
http://www.arabnews.com/news/593696

Libya, with its 48 billion barrels of reserves, is pumping a mere ten percent of what it can, the lowest level since September 2011.
Sabotage has significantly reduced the flow of oil out of Nigeria as well. And, if Iran and the West can’t reach a deal on Iran’s nuclear program in July, Iran could soon be facing renewed sanctions on its oil industry.
In other words, Iraq might be the least of the world’s worries

That said apparently the fracking is working why I mentioned US/Can supplies being secure since supplies are up because of North American production. But still affected by speculations on the price but a recent study proved it does cause the earthquakes lol because the wastewater never comes back well for a long long time.
http://www.cbc.ca/news/technology/earthquakes-triggered-by-fracking-wastewater-in-oklahoma-1.2695536

[Bitcoin-hotep]

No major change in the usage of energy since the beginning of the last century.  We still rely on power plants built 1/2 a century ago.  Cars run on the same hydrocarbon fuels, except now we can lug around heavy batteries too.

For every 1% increase in efficiency the world is using 2% more energy.

If China continues the way they are going (and India is coming right behind them) how long do you think people can live in clouds of smoke? And how thick do they have to get before everyone dies?

Even if India and China continue to develop, they have to change things.

[Bitcoin-hotep]

No major change in the usage of energy since the beginning of the last century.  We still rely on power plants built 1/2 a century ago.  Cars run on the same hydrocarbon fuels, except now we can lug around heavy batteries too.

For every 1% increase in efficiency the world is using 2% more energy.

Yep Jevon's Paradox the more efficient the technology the greater the consumption.
At least it means we are finding efficiencies though take the nuclear energy industry no new capacity since the 1970s but it still retains the same market share due to improvements over the decades.

Again, you are disregarding small countries that have massive oil reserves and almost no population.
Just like Bitcoin, when someone drops a bunch on the market, it does not matter what the demand is, the price drops.

[Bitcoin-hotep]

This year so far, there has been considerable reduction in the oil output from Russia and Saudi Arabia. The Russian oil production has fallen by 4%, while the Saudi output has declined by 2%. And the Iraqi and Libyan oil production are nowhere close to the optimal levels.

Then they probably AREN'T EVEN fracking yet. lol