Oil is made by the Earth, not by fossils

[Wiesman44]

http://www.popularmechanics.com/automotive/new_cars/4251491.html?series=19

 

[Gubby]

Ok, so now we just need to practise self control so the world doesn't turn into a baking furnace

A limit on the amount of oil worldwide could actually save our lives. Or maybe we'll run out just in time to wish we had run out earlier :crackup:

 

[Alle_Gory]

http://www.popularmechanics.com/automotive/new_cars/4251491.html?series=19

Air powered car.

I hate these damn things. You need electricity, 50% of which is produced by coal powered generators, 19% from natural gas, and 3% by fuel oil.

http://www.eei.org/industry_issues/industry_overview_and_statistics/industry_statistics/index.htm

 

[Deep Dish]

“An Air-Powered Car by 2009? Don’t Hold Your Breath” (New York Times)

 

[Gubby]

Air powered car.

I hate these damn things. You need electricity, 50% of which is produced by coal powered generators, 19% from natural gas, and 3% by fuel oil.

http://www.eei.org/industry_issues/industry_overview_and_statistics/industry_statistics/index.htm

YEah. "Zero emissions"? That's disingenuous; it still causes pollution.

 

[leftForDeadPhoenix]

Good post Gubby. Oil is not a fossil fuel and humans have very little to do with global warning. Making these two statements alone will get you lynched by the wacko-leftists who don't understand that these are two scams used by government in order to milk their populations of tax dollars.

And all this "peak oil" stuff is a load of crap. First of all, a lot of countries that have tons of oil are not drilling. Second, there is no way America and China are consuming nearly as much oil as we could, because we don't have the refineries to keep up with demand. And third, OPEC sets the prices, because they have no competition at this point. That means when demand goes down, production goes down and OPEC doesn't lose a dime.

 

[PSYCHO]

There is more than enough oil for hundreds of years - and it isn't made from fossils - you have to be an idiot if you think fossils make oil.

The oil is controlled and artificial scarcity is manufactured and the price is manipulated by the oil company monopoly men.

 

[Alle_Gory]

The oil is controlled and artificial scarcity is manufactured and the price is manipulated by the oil company monopoly men.

No ****.

Heard of the laws of supply and demand?

When supply goes down and demand stays the same, prices go up. The supply is artificially controlled by the oil cartel (not monopoly).



Here is a little explanation with a chart:
http://www.mikeonads.com/wp-content/uploads/2007/05/supply_demand_11.JPG


When the supply goes down, the supply curve moves to the left. Notice how the equilibrium (lines crossing) point moves vertically? Results in price increase.

Artificially manipulating the supply curve means $$$$$.

 

[Aboleo]

Bullsh!t. Anyways, it is beside the point... burning oil is killing our planet. It really doesn't matter where it comes from. We have got to stop using it or we are going to kill ourselves.

 

[Rhoto]

Bullsh!t. Anyways, it is beside the point... burning oil is killing our planet. It really doesn't matter where it comes from. We have got to stop using it or we are going to kill ourselves.

Really? You are aware that cars (the main users of oil) make up less than 10% of global Co2 emissions.

Want to stop killing the planet? Stop coal.

 

[ketostix]

No ****.

Heard of the laws of supply and demand?

When supply goes down and demand stays the same, prices go up. The supply is artificially controlled by the oil cartel (not monopoly).



Here is a little explanation with a chart:
http://www.mikeonads.com/wp-content/uploads/2007/05/supply_demand_11.JPG


When the supply goes down, the supply curve moves to the left. Notice how the equilibrium (lines crossing) point moves vertically? Results in price increase.

Artificially manipulating the supply curve means $$$$$.

Bingo. You are one of the ones who gets it. It's simple economics really. They know demand won't decrease so big oil manipulate the supply and prices are increased. Basically they can charge almost any price they want regardless of real supply anyway and consumer will have little choice but pay it. I would wager that illegal price manipulation is going on (there are rules against price fixing etc.) but the government gave them the go ahead and won't ever prosecute.

And besides oil, markets aren't free and fair all the time anyway. Look how the housing market was over-inflated and countless other examples of stocks. The difference there is the market may correct that. But with a commodity like oil and the cartels manipulating supply and prices, I don't think the market can really correct oil.

 

[ketostix]

Really? You are aware that cars (the main users of oil) make up less than 10% of global Co2 emissions.

Want to stop killing the planet? Stop coal.

Yeah not to mention CO2 emission being harmful and global warming hasn't exactly been proven. What is known is when you stop "burning oil" and coal real suffering happens. People who are worried about CO2 emissions and emission in general should stop buying anything made in China where they pollute and maybe they should stop using energy all together if they're so worried about it.

 

[Inquisitus]

Bingo. You are one of the ones who gets it. It's simple economics really. They know demand won't decrease so big oil manipulate the supply and prices are increased. Basically they can charge almost any price they want regardless of real supply anyway and consumer will have little choice but pay it. I would wager that illegal price manipulation is going on (there are rules against price fixing etc.) but the government gave them the go ahead and won't ever prosecute.

And besides oil, markets aren't free and fair all the time anyway. Look how the housing market was over-inflated and countless other examples of stocks. The difference there is the market may correct that. But with a commodity like oil and the cartels manipulating supply and prices, I don't think the market can really correct oil.

Big oil cannot just charge what they want or they will endanger their market. Oil at too high a price will cause consumers to shift away from oil in the long run. Look at what's happening now, as oil hits Cdn$1.30+ per litre, people are shifting to alternatives. If it gets way higher, the shift will become faster and eventually, an equilibrium will be achieved. The question is how much and when.

At no time is there a concept of "fair" in economics. In fact, one of the principles is self interest. Supply & demand just helps model how the market will react based on determinants. It tells it as it is, it's up to people to see what they will do about it.