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

[bryant.coleman]

Then they probably AREN'T EVEN fracking yet. lol

Fracking is not the answer to all the oil shortage in the world. Actually, it is a process which pumps out all remaining spare oil from the already exhausted oil wells. It is expensive, as well as environmentally harmful.

[Bitcoin-hotep]

Then they probably AREN'T EVEN fracking yet. lol

Fracking is not the answer to all the oil shortage in the world. Actually, it is a process which pumps out all remaining spare oil from the already exhausted oil wells. It is expensive, as well as environmentally harmful.

THERE IS NO SHORTAGE.

And there never WAS a shortage. They never started "running out of oil" they just had to "go out in to the ocean to get it" and pretended they were running out so they could sell it for more. That created a price bubble that will now pop.

[Bitcoin-hotep]

And it being poisonous and using tons of water won't stop people, it will just cause outcry afterwards.

[bryant.coleman]

Texas has just hit the 3 million mark (the state now produces 3 million barrels of crude oil every day, compared to 1.1 million barrels five years ago). Meanwhile, the production from the remainder of the US (especially the Gulf of Mexico) has declined slightly.

[Bitcoin-hotep]

Texas has just hit the 3 million mark (the state now produces 3 million barrels of crude oil every day, compared to 1.1 million barrels five years ago). Meanwhile, the production from the remainder of the US (especially the Gulf of Mexico) has declined slightly.

And did you know Texas NEVER sells its oil? They just pile it up and buy the oil they use from Saudi Arabia.

[Bitcoin-hotep]

Obama just put $4 Billion in renewable tech and is rejecting the pipeline.

[jubalix]

not this agian
back in the 80's oil was supposed to run out by 2000.

you can make coal into oil commercially, its called the haber method. there is enough coal to do this for thex 100 year or more, then there are thorium reactors etc etc.

[Bitcoin-hotep]

not this agian
back in the 80's oil was supposed to run out by 2000.

you can make coal into oil commercially, its called the haber method. there is enough coal to do this for thex 100 year or more, then there are thorium reactors etc etc.

You have the situation backwards. I am not saying we are running out, I am saying we have over stock.

[Bitcoin-hotep]

LOL

Colorado now has a commercial that says "Fracking works for Colorado" like "Yeah the rest of the country can have clean and renewable fuels, we just like being oil guys and hillbillys"

[bryant.coleman]

you can make coal into oil commercially, its called the haber method. there is enough coal to do this for thex 100 year or more, then there are thorium reactors etc etc.

And who will store all the toxic gases which are released as a result of the coal liquefaction?

Also, as far as I know, this method is known as the Fischer–Tropsch process. Haber process, on the other hand is used for the production of Ammonia. 

[Bitcoin-hotep]

you can make coal into oil commercially, its called the haber method. there is enough coal to do this for thex 100 year or more, then there are thorium reactors etc etc.

And who will store all the toxic gases which are released as a result of the coal liquefaction?

Also, as far as I know, this method is known as the Fischer–Tropsch process. Haber process, on the other hand is used for the production of Ammonia. 

Obama is denying the pipeline and putting $4 Billion in to renewables. So, there will probably be some new stuff happening over the next few years.

[Schleicher]

you can make coal into oil commercially, its called the haber method. there is enough coal to do this for thex 100 year or more, then there are thorium reactors etc etc.

And who will store all the toxic gases which are released as a result of the coal liquefaction?
Also, as far as I know, this method is known as the Fischer–Tropsch process. Haber process, on the other hand is used for the production of Ammonia. 

Yeah, Fischer-Tropsch is being used mostly.
Or you can use the Bergius Process: http://en.wikipedia.org/wiki/Bergius_process

[Bitcoin-hotep]

How America fell in the shitter
https://bitcointalk.org/index.php?topic=679881

[Bitcoin-hotep]

you can make coal into oil commercially, its called the haber method. there is enough coal to do this for thex 100 year or more, then there are thorium reactors etc etc.

And who will store all the toxic gases which are released as a result of the coal liquefaction?
Also, as far as I know, this method is known as the Fischer–Tropsch process. Haber process, on the other hand is used for the production of Ammonia. 

Yeah, Fischer-Tropsch is being used mostly.
Or you can use the Bergius Process: http://en.wikipedia.org/wiki/Bergius_process

$4 Billion in Renewables.

[Swordsoffreedom]

not this agian
back in the 80's oil was supposed to run out by 2000.

you can make coal into oil commercially, its called the haber method. there is enough coal to do this for thex 100 year or more, then there are thorium reactors etc etc.

Peak oil has been a BS since M.King Hubbert came out with it he did his calculations without accounting for the Unconventional's
Fracking and Off-Shore Drilling and coal to oil to name a few.

To be more accurate we have been finding new supplies of oil consistently and a Mckelvey Box is the true way to measure oil supplies
With Commercial Oil - Profitable
Non-Commercial - Not profitable
And Undiscovered reserves



The real problem is that the cost of getting this new oil is increasingly expensive as the easy reserves are found and depleted the base price for the new oil increases as well.
These higher prices make non-commercial oil commercially profitable to acquire and lead to the higher oil prices.

[Bitcoin-hotep]

not this agian
back in the 80's oil was supposed to run out by 2000.

you can make coal into oil commercially, its called the haber method. there is enough coal to do this for thex 100 year or more, then there are thorium reactors etc etc.

Peak oil has been a BS since M.King Hubbert came out with it he did his calculations without accounting for the Unconventional's
Fracking and Off-Shore Drilling and coal to oil to name a few.

To be more accurate we have been finding new supplies of oil consistently and a Mckelvey Box is the true way to measure oil supplies
With Commercial Oil - Profitable
Non-Commercial - Not profitable
And Undiscovered reserves



The real problem is that the cost of getting this new oil is increasingly expensive as the easy reserves are found and depleted the base price for the new oil increases as well.
These higher prices make non-commercial oil commercially profitable to acquire and lead to the higher oil prices.

Yes new methods cost money, BUT we must not forget that there are small countries that we have already been developing (Saudi, etc) that eventually will under price any oil compared to the US market. Then eventually there will be new countries coming up and small underdeveloped countries like Bernai selling eve CHEAPER oil.

[hotsaucee]

Someone mentioned about Iran on reddits bitcoin page, on them trading their oil and gas to bitcoin.

So thats a sign I guess its about to pop? cant find anymore oil rigs to drill?

[Bitcoin-hotep]

Someone mentioned about Iran on reddits bitcoin page, on them trading their oil and gas to bitcoin.

So thats a sign I guess its about to pop? cant find anymore oil rigs to drill?

No. you just have to look at the bigger picture. They have TOO MUCH oil already, they are kinda like the equivalent to someone that started mining in 2011, except it's oil and gas not bitcoin, and decades instead of a few years.

They see a market growing (kinda how Bitcoiners noticed gold eventually) and now they want to trade what they have TOO much of, for something they don't have enough of.

[Swordsoffreedom]

Yes new methods cost money, BUT we must not forget that there are small countries that we have already been developing (Saudi, etc) that eventually will under price any oil compared to the US market. Then eventually there will be new countries coming up and small underdeveloped countries like Bernai selling eve CHEAPER oil.

That's true enough there could be cheap reserves that are accessible in countries that are underdeveloped, in that case one needs to stabilize those countries to get access to those reserves.
The other option would be to destabilize the country and then buy the cheaper oil from the groups fighting that need funding.

[Bitcoin-hotep]

Yes new methods cost money, BUT we must not forget that there are small countries that we have already been developing (Saudi, etc) that eventually will under price any oil compared to the US market. Then eventually there will be new countries coming up and small underdeveloped countries like Bernai selling eve CHEAPER oil.

That's true enough there could be cheap reserves that are accessible in countries that are underdeveloped, in that case one needs to stabilize those countries to get access to those reserves.
The other option would be to destabilize the country and then buy the cheaper oil from the groups fighting that need funding.

Tons of them are stabilized. South America, etc.