Bitcoin-hotep (OP)
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June 11, 2014, 04:59:03 AM |
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1. Oil production is increasing faster The oil production is not increasing in proportion to the increase in demand. 2. Renewable resources are being pushed everywhere As of now, all the renewables consist of a very tiny fraction of the overall power / fuel generation. The proportion might increase over time, but an increase from 1% to 2% doesn't mean anything. 3. The US is an oil and motor based economy and they are slipping on innovation in motor and energy. Once that changes so will the economy.
Technology has reached saturation point as far as motor / energy is concerned. I have heard the term "Oceans of oil" in reference to what is being found under the US. Imagine what is going to happen in Saudi Arabia, and Russia. And what about places like Burnei that already had MASSIVE oil stocks and less than 500,000 people. The motor and energy industries are not stagnant. Motor has become Robotics, and Energy is up in the air.
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Ron~Popeil
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June 11, 2014, 05:12:08 AM |
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1. Oil production is increasing faster The oil production is not increasing in proportion to the increase in demand. 2. Renewable resources are being pushed everywhere As of now, all the renewables consist of a very tiny fraction of the overall power / fuel generation. The proportion might increase over time, but an increase from 1% to 2% doesn't mean anything. 3. The US is an oil and motor based economy and they are slipping on innovation in motor and energy. Once that changes so will the economy.
Technology has reached saturation point as far as motor / energy is concerned. I have heard the term "Oceans of oil" in reference to what is being found under the US. Imagine what is going to happen in Saudi Arabia, and Russia. And what about places like Burnei that already had MASSIVE oil stocks and less than 500,000 people. The motor and energy industries are not stagnant. Motor has become Robotics, and Energy is up in the air. Yes, fracking and oil shale supplies are going to flood the market soon. What we need it refining capacity. We will be a net exporter soon if it hasn't happened all ready.
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bryant.coleman
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June 11, 2014, 06:18:46 AM |
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I have heard the term "Oceans of oil" in reference to what is being found under the US. Imagine what is going to happen in Saudi Arabia, and Russia. And what about places like Burnei that already had MASSIVE oil stocks and less than 500,000 people.
Those are just rumors. There are no oceans of oil anywhere. It is true that the American oil production is increasing. But also remember that the demand for oil in the US is also increasing. And regarding Brunei. The oil production there is actually declining, as the older fields are getting unproductive.
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Bitcoin-hotep (OP)
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June 11, 2014, 07:50:44 AM |
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I have heard the term "Oceans of oil" in reference to what is being found under the US. Imagine what is going to happen in Saudi Arabia, and Russia. And what about places like Burnei that already had MASSIVE oil stocks and less than 500,000 people.
Those are just rumors. There are no oceans of oil anywhere. It is true that the American oil production is increasing. But also remember that the demand for oil in the US is also increasing. And regarding Brunei. The oil production there is actually declining, as the older fields are getting unproductive. Either I misunderstand Fracking, or all the Colorado PSAs are wrong about how much oil we are finding. Or you're wrong.
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Bitcoin-hotep (OP)
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June 11, 2014, 07:38:06 PM |
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Bitcoin Vs Oil, we just need like a "Solar Coin" or "Earth Coin" or "Water Coin" or "Wind Coin" that can support Bitcoin as well as energy development.
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ShibaWow
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June 11, 2014, 07:55:20 PM |
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will not burst in our lifetime the US profits on this state as everyone uses $ to trade oil bigger price means more $ traded, bigger demand bigger price more money they can print without devaluation means more money in their hands USA has too much power, they will influence anything to keep the current oil state
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Bitcoin-hotep (OP)
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June 11, 2014, 08:11:26 PM |
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will not burst in our lifetime the US profits on this state as everyone uses $ to trade oil bigger price means more $ traded, bigger demand bigger price more money they can print without devaluation means more money in their hands USA has too much power, they will influence anything to keep the current oil state Ok, but you realize we border Mexico and Venezuela is not that far away. And like everyone and their grandma is Fracking. Peter Schiff is Fracking he said on Joe Rogan's Podcast.
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bryant.coleman
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June 12, 2014, 03:46:39 AM |
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Either I misunderstand Fracking, or all the Colorado PSAs are wrong about how much oil we are finding. Or you're wrong.
This is what I have got from the IEA: The American oil production can grow to at least 11 million barrels per day by 2020. But that is still much lower than the 19 million barrels consumed by the American users every day.
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Bitcoin-hotep (OP)
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June 12, 2014, 03:54:45 AM |
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Either I misunderstand Fracking, or all the Colorado PSAs are wrong about how much oil we are finding. Or you're wrong.
This is what I have got from the IEA: The American oil production can grow to at least 11 million barrels per day by 2020. But that is still much lower than the 19 million barrels consumed by the American users every day. Again, there are countries like Burnei that hardly have any people and tons of oil, and fracking is new.
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bryant.coleman
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June 12, 2014, 03:57:54 AM |
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Again, there are countries like Burnei that hardly have any people and tons of oil, and fracking is new.
As I have already posted, the scope for fracking is limited in Brunei. Most of the oil wells are drying up, and with fracking the best they can hope for is to stabilize the production, not increasing it.
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Bitcoin-hotep (OP)
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June 12, 2014, 05:38:22 AM |
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Again, there are countries like Burnei that hardly have any people and tons of oil, and fracking is new.
As I have already posted, the scope for fracking is limited in Brunei. Most of the oil wells are drying up, and with fracking the best they can hope for is to stabilize the production, not increasing it. And I have already posted, that is only one example, there are also countries like Saudi Arabia, Russia, Iraq, Ukraine, Venezuela, Canada, etc.
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ajareselde
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Satoshi is rolling in his grave. #bitcoin
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June 13, 2014, 03:35:11 PM |
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highly doubt its anywhere near pop-position. demand keeps increasing and production of oil/gas is not following, so i think we are yet to see a real bubble there. only thing that can stop it from forming is hard determined siding with renewable energy sources over short time, which wont happen
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Bitcoin-hotep (OP)
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June 13, 2014, 03:48:59 PM |
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highly doubt its anywhere near pop-position. demand keeps increasing and production of oil/gas is not following, so i think we are yet to see a real bubble there. only thing that can stop it from forming is hard determined siding with renewable energy sources over short time, which wont happen
Demand keeps increasing? So, are we talking about an isolated country or the whole world. Because I have responses for both, and you can go up and read them if you want, or I can repost them once you tell me where your hypothetical is taking place.
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Harley997
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June 13, 2014, 03:59:24 PM |
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highly doubt its anywhere near pop-position. demand keeps increasing and production of oil/gas is not following, so i think we are yet to see a real bubble there. only thing that can stop it from forming is hard determined siding with renewable energy sources over short time, which wont happen
Demand keeps increasing? So, are we talking about an isolated country or the whole world. Because I have responses for both, and you can go up and read them if you want, or I can repost them once you tell me where your hypothetical is taking place. Demand for energy and oil is increasing throughout the world (this is what really matters). The increased demand for oil of which supply does not keep up with will push up the prices of oil, which will create the incentive for people to come up with other, efficient ways to produce energy.
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bryant.coleman
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June 13, 2014, 06:43:02 PM |
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Demand for energy and oil is increasing throughout the world (this is what really matters).
Here is the proof: The oil consumption might be stable in the US and the EU. But in India and China, it is rising sharply.
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Slab Squathrust
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June 13, 2014, 07:59:38 PM |
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Demand for energy and oil is increasing throughout the world (this is what really matters).
Here is the proof: The oil consumption might be stable in the US and the EU. But in India and China, it is rising sharply. What is especially important to note is that these two countries comprise something like 34% of the entire worlds population. As standards of living in these places continue to rise and more members of these countries can afford things like cars or other luxuries, there is no reason to think that demand for oil will do anything but rise, especially in the near term.
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KonstantinosM
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June 13, 2014, 10:38:50 PM |
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What about the near infinite amount of methane in the arctic? There is a dilemma there. If it gets released un-burned it traps more heat then if it is burned and we release CO2. https://www.youtube.com/watch?v=Wofv9o0j1Ew Check this out.
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Syscoin has the best of Bitcoin and Ethereum in one place, it's merge mined with Bitcoin so it is plugged into Bitcoin's ecosystem and takes full advantage of it's POW while rewarding Bitcoin miners with Syscoin
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Harley997
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June 13, 2014, 11:08:33 PM |
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Demand for energy and oil is increasing throughout the world (this is what really matters).
Here is the proof: The oil consumption might be stable in the US and the EU. But in India and China, it is rising sharply. What is especially important to note is that these two countries comprise something like 34% of the entire worlds population. As standards of living in these places continue to rise and more members of these countries can afford things like cars or other luxuries, there is no reason to think that demand for oil will do anything but rise, especially in the near term. It would be probable that increased oil/energy prices would stiffle the increases in standards of living in China. What the world needs is more efficient ways to harvest energy. There are two possible solutions to having to use so much oil that costs skyrocket. One is Nuclear energy, it is very cheap and once infrastructure is in place a lot can be generated per square foot of a nuclear power plant. The 2nd possibility is to somehow harvest solar energy in a much more efficient way. This is speculation but if heat energy can somehow be transferred back into kinetic energy in a cost efficient way then all of the worlds problems would go away. My understands of physics is that energy cannot be created nor destroyed only transferred into different types and that all energy eventually gets transferred into heat energy. But if there was a way to transfer heat energy into kinetic (battery) energy we would be good to go.
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Malok
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June 14, 2014, 12:10:50 AM |
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While I agree that China and India are going to put an increased demand on oil reserves in the near term....the environmental impact will definitely play a role in tweaking it a bit. Already, Beijing has rampant pollution problems to the point that people are wearing masks there and its covered in a thick hazy fog. They have to do something to curb car pollution, which will ultimately force oil demand down in the long run.
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