what its all about, whats its all about Options

[Jack]

what its all about

[Cpt. Snot Rocket]

I disagree Kleerance. You say the there is an oil shortage, I say not. I am not convinced that the presence of oil in the ground is in short supply. The oil prices would be far lower than what they are now if OPEC did not limit production. To emphasize my point, OPEC just called an "Emergency Session" to limit production to increase prices.

There are scientists who believe that it may be possible that oil is actually produced by the earth. This is based on once empty wells suddely being able to pump again. http://www.lewrockwell.com/orig5/crispin8.html

How about those Oil and Gas reserves that are "Decreasing"?

"Adelman notes that in 1944, a special expert mission estimated Persian Gulf reserves at 16 billion proved and 5 billion probable. By 1975, those same fields had produced 42 billion barrels and had 74 billion remaining. In 1984, geologists estimated a five percent probability of another 199 billion barrels remaining to be added in the Gulf region. In five years those reserves had already been added. (Adelman, 1993)."


How about China http://english.people.com.cn/200601/18/eng...118_236307.html

Australia http://www.rigzone.com/news/article.asp?a_id=35281

And more http://www.radford.edu/~wkovarik/oil/3unconventional.html

Most of the oil in Alaska, Russia and China has not even been drilled yet.

Yes, I am well aware that falsly reported reserves can help ensure funding for exploration. An no, I don't think there is an unlimited supply of oil that will last forever.

But let's deal with facts and not the media hyperbole that "we are running out of oil and the world is coming to an end."

Regards,

Your MOB Brother