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Clocker
05-12-2017, 03:43 PM
Bad news for OPEC that is. OPEC says there is an over-supply of oil. The major cause of that is the US, so we need to cut back on oil production for "the general prosperity of the world economy."

When was the last time OPEC did anything for "the general prosperity of the world economy"?

Frack 'em if they can't take a joke.

http://money.cnn.com/2017/05/11/investing/opec-oil-u-s-supply/index.html (http://money.cnn.com/2017/05/11/investing/opec-oil-u-s-supply/index.html)

Jess Hawsen Arown
05-12-2017, 07:00 PM
How come we never run out of oil?

http://peakoil.com/geology/abiotic-oil-and-gas-a-theory-that-refuses-to-vanish

JustRalph
05-12-2017, 09:11 PM
I heard this on the radio today and almost drove in a ditch laughing........

As a child of the 70's all that kept coming to mind was....**** em!

Tom
05-13-2017, 11:23 AM
Suddenly these desert tats are worried about world prosperity???

I agree with Ralph.
I think we need to make their oil fields the prime targets of our nukes!
Let the world prosper on coal.

chadk66
05-13-2017, 02:15 PM
How come we never run out of oil?

http://peakoil.com/geology/abiotic-oil-and-gas-a-theory-that-refuses-to-vanishthis was another hoax just like the ice age in the 70's and global warming today. There is so damn much oil under our soil it's insane. We haven't even touched some of the best areas yet. And probably won't have to for half a century if ever.

chadk66
05-13-2017, 02:16 PM
Suddenly these desert tats are worried about world prosperity???

I agree with Ralph.
I think we need to make their oil fields the prime targets of our nukes!
Let the world prosper on coal.no we want to use their oil up first

Clocker
05-13-2017, 02:36 PM
this was another hoax just like the ice age in the 70's and global warming today. There is so damn much oil under our soil it's insane.

Past predictions about running out of oil were based on the "settled science" of the time. :p

Tom
05-13-2017, 03:22 PM
Past predictions about running out of oil were based on the "settled science" of the time. :p

Ah yes, the "global drying" crowd.
The debate was over if I recall.

tucker6
05-13-2017, 06:09 PM
A fun read...

http://thefederalist.com/2015/04/24/seven-big-failed-environmentalist-predictions/

And, predictions from the original Earth Day. :lol:

http://dailycaller.com/2016/04/22/7-enviro-predictions-from-earth-day-1970-that-were-just-dead-wrong/

For those too lazy to read, we all died by 2000, and the human species no longer exists. Oh, and oil ran out by 2000 as well, so for those of you who just bought a new gas powered car, you're a sucker.

forced89
05-13-2017, 07:51 PM
I look at this whole thing with the frackers as an investment opportunity. Many of the companies that rely 100% on fracking have recently emerged from bankruptcy. In most cases their stockholders and some of their bondholders were wiped out. The bondholders in the strongest position have ended up owning much of the new equity. These post bankruptcy companies now have a bunch of cash in the bank and can survive for many, many years on $40-$45 bbl oil. But if/when the price of oil goes up to $75-$100, these stocks will rocket. There are two I am focused on, BBG and HK but there are others. I have been accumulating HK and will continue to do so.

JustRalph
05-13-2017, 09:49 PM
Past predictions about running out of oil were based on the "settled science" of the time. :p

Fantastic point!!