(A Kingfisher)ENERGY ARMAGEDDON
Who do you think has the most reliable data on crude oil reserves in the world?
It is the US Securities and Exchange Commission.
"Companies whose stocks are publicly traded on U.S. stock markets are required by the Securities and Exchange Commission (SEC) to report their holdings of domestic and international proved reserves, following specific guidelines."
- International Energy Outlook 2007 -
Indeed, it is no wonder that hedge funds have jumped at any promising chance in the global oil market with authentic data in hand.
SECTION I: OIL AND A PRESIDENTIAL CANDIDATE
Mr. Barack Obama seems to be determined to handle the challenge of future oil depletion and environmental problems.
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Set America on Path to Oil Independence
- Obama's plan will reduce oil consumption by at least 35 percent, or 10 million barrels per day, by 2030. This will more than offset the equivalent of the oil we would import from OPEC nations in 2030...
Improve Energy Efficiency 50 Percent by 2030
- Set National Building Efficiency Goals: Barack Obama will establish a goal of making all new buildings carbon neutral, or produce zero emissions, by 2030. He'll also establish a national goal of improving new building efficiency by 50 percent and existing building efficiency by 25 percent over the next decade to help us meet the 2030 goal.
http://www.barackobama.com/issues/energy/
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In 2030, according to some data, the crude oil reserves under the ground of the U.S. will be just depleted due to prodigal use of oil by citizens and consumers.
SECTION II: OIL AND A CHALLENGING HERO
Mr. Ralph Nadar looks quite right, sound, and sane in focusing on the money game in the crude oil market.
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In an ironic twist, the major price determinant has moved from OPEC (having only 40% of the world production) and the oil companies to the speculators in the commodities markets. What goes on in the essentially unregulated New York Mercantile Exchange (NYMEX)—without Commodity Futures Trading Commission (CFTC) enforced margin requirements, and, unlike your personal purchases, untaxed—is now the place that leads to your skyrocketing gasoline bills. OPEC and the Big Oil companies reap the benefits and say that it’s not their doing, but that of the speculators. Gives new meaning to “passing the buck.”
Deborah Fineman, president of Mitchell Supreme Fuel Co. in Orange, New Jersey, summed up the scene: “Energy markets have been dictated for too long by hedge funds and speculators, who artificially manipulate the numbers for their own benefit. The current market isn’t based on the sound principles of supply and demand but it is being rigged by companies and speculators who are jacking up prices for their own greed...”
Imagine, our government is letting your price for gasoline and home heating oil be determined by a gambling casino on Wall Street called NYMEX. The people need regulatory protection from speculators and an excess profits tax on Big Oil…
http://rtsf.wordpress.com/2008/05/28/stop-the-oil-speculators/
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As I wrote a few days ago, the American material life is supported by the high level of NYSE Indexes; the Dow Jones Index is backed by hedge funds; and the hedge funds are bolstered by the ever increasing or high-level-sustaining oil prices as a replacement for subprime loan business.
SECTION III: OIL AND ENERGY INNOVATION
Therefore, unless crude oil prices collapse, Americans can continue materially very rich life.
And, such a collapse is only expected to happen, say, 20 years later or so.
It is because at the time technical or scientific innovation will offer revolutionary systems, methods, and tools that can eliminate the use of crude oil as a major energy source for electricity, heating, or fuels for engines.
But, before discussing technical innovation and revolution, let's see the present situations and also results of analyses and studies on global oil reserves.
SECTION IV: "International Energy Outlook 2007"
http://www.eia.doe.gov/oiaf/ieo/pdf/0484(2007).pdf
According to the above document, the world oil reserves presently confirmed or estimated are as follows:
(Click for a larger view)According to the above document, some changes should be taken into account when analyzing crude oil reserves in each country.
(Click for a larger view)Though these changes or necessary modification are yet to be included, the reserve-production ratio or the number of years until exhaustion of petroleum for each country is as follows;
(Click for a larger view)The analysis in the document resulted in the estimation that "the major oil-producing countries of OPEC have maintained r/p ratios of 20 to 100 years (Table 5)."
Therefore, if mankind can develop new energy technology in 20 years, an Energy Armageddon can be avoided.
However, as more and more people will become aware of this tight situation in the coming decade, more fuel will be added to the fever in the oil market.
And, the CO2 Conspiracy will make the situation more complicated, since it is being pushed and operated with some super-rich Europeans’ intent to dominate over Africans and Asians in the 21st century and beyond.
Anyway, look at these three tables and search for truth, since this is the year for the US Presidential Election.
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Just to make sure, let’s confirm the regional distribution of crude oil reserves:
(Click for a larger view)http://www.eia.doe.gov/oiaf/ieo/pdf/0484(2007).pdf
The Middle East was, is, and continues to be the largest oil production center in the world.
That is why the United States has taken a military measure, sending troops to Iraq, leveraging Israel to be a political stakeholder in the region, and playing a role as an guardian of Arabs against the Islamic lone wolf Iran.
That is also why the EU, still relying on the conventional colonialist paradigms, has taken a quasi-scientific/greedy-financial, complex measure called CO2 Reduction, abusing the concerns about the global warming which is not a kind of killer virus at all, trying to brainwash global citizens with a fear of CO2 and thus suppress development of economy and growth of society of Arab, African and Asian countries.
That is why true democracy should be introduced to Islamic countries without resorting to military means, and the CO2 Conspiracy should be conquered with scientific correctness as well as a change in historical paradigm.
(It is cloudy all over the Kanto Plain in which Tokyo is situated. It is not hot at all. The temperature is around 18 degrees C or 64 F. So, it feels like being in New York.
According to The Wall Street Journal, Mr. Bill Gates is going to leave the Microsoft management office once for all this month.
Yet, President Mr. Obama, if so inaugurated, should order Microsoft Corporation to employ more poor Americans as its revenue is $51 billion in 2007 as I am using Windows OS now.
But, you had better look for another type of hero who might not look like Mr. Obama or Mr. Gates at all, while posting a blog as "Trillion Dollar Reporter of God" as the Google Search or Yahoo Search is proving.)
Mar 6:4 But Jesus, said unto them, A prophet is not without honour, but in his own country, and among his own kin, and in his own house.
Mar 6:5 And he could there do no mighty work, save that he laid his hands upon a few sick folk, and healed them.
Mar 6:6 And he marvelled because of their unbelief. And he went round about the villages, teaching.