Moose

From what I have seen, the oil extracted from N Dakota will not all go to the US but will be put on the market and be subject to market prices. Unless the govt mandates that it stays here then don't count on much...and if they mandate it stays here then I don't see the oil companies investing in development. In my opinion, this is a time where capitalism does not work out in our favor.

deltabound

No disagreement there! Drill the snot out of anything that's economically and environmentally viable.

Any increase in global supply will help US prices. It does not have to be "by Americans, for Americans".

But we'd better get cracking on alternatives, because the future of oil is as a transition fuel, not the everyman's fuel of convenience.

fdxmd11fo

Why would it go somewhere else moose?

SmoothOnTop

Alright, we get it, you want the 21st century equivalent of former president Carter.

As to your comment(s):
US troops have been in Japan and Germany for 63 years, do you have a problem with that?

Weapons of Mass Destruction-

Secretary Powell showed the UN photo images, supporting the case for sanction/invasion, on the order of resolution that anyone with internet google Earth could find - Do you doubt that the bi-partisian intel commitee and congress that voted for the invasion were shown much higher resolution evidence?

Have you ever been to a beach and watched how quickly a 5 year-old can dig a two foot hole in the sand?

Sadam's henchmen could easily bury or move any WMDs at will before the invasion...

__________________
I'm moving to Canada...wait a second???

sigtauenus

Was that article really from 2004?

mattisawesome

I don't think the concept of peak oil is a myth, but I don't think the world's production capacity has peaked.

deltabound

Exactly.

"Peak Oil" is not a matter of "if" but of "when". Personally, I think it's either now or in the very near future.

One also wonders what exactly the impact of peak oil will be. Plenty of nutburgers out there who are acting like it's the end of the world with a rapid decline of civilization. I suspect the ultimate impact will just be slowed global economic expansion (possibly some contraction) as energy becomes more expensive.

Which means far more pain for developing and/or poor countries than for the 1st world ones. However bad it gets in the US, you can be sure it will be much, much worse in the up and coming countries.

mattisawesome

If energy prices stay as high as they are then the rush to alternative energy sources will finally happen because they will become more economical than oil. I say it is a good thing, and the longer oil stays at $100/bbl the faster it will happen. I have seen and heard some things about upcoming technology that shocked the heck out of me. Times will be good again but this time without us being dependent on the Middle East(I can dream can't I?)