I Want to Understand Why Gas Prices are So Damned High

WHO_DAT_CAT · 03-21-2012, 02:00 AM

So, you only believe industry sources ...... OK, here is OPEC's World Oil Outlook for 2011.

In OPEC's World Oil Outlook for 2011, page 72, Figure 1.25 shows the drop off of OPEC crude oil supply starting in the 70s and going to 2035. They say it very clearly: "OPEC crude share in total world oil supply: 1973 51%, 2010 34%, 2035 36%", while, this report shows that demand will grow in the future, OPEC producing nations will only supply 36% of world oil supply in 2035. The chart also shows that "other sources of oil" will replace OPEC crude.

If OPEC had the oil to sell, tell me SaintFan, why would OPEC be projecting that "other sources of oil" will fill the gap in oil supply in 2035? Don't you think that OPEC would want to sell 51% of oil, instead of 36%, to meet demand, if they could? I think they would.

As I mentioned above, we are now beginning to extract oil from other, dramatically more expensive, fossil fuel sources, such as shale and oil sands. OPEC's report discusses it in detail, and uses these "other sources" to replace the loss from OPEC crude sources. They state, on page 69, in pertinent part: "...increases in conventional supply from the Caspian and Brazil, as well as steady increases in biofuels, oil sands and shale oil will more than compensate for expected decreases in mature regions." These other sources and their development will increase prices for gas due to the higher cost of development of these unconventional sources when compared to cost of production in "mature regions". These mature regions are where the oil reservoirs are being emptied. So, SaintFan, you appear to be the one listening to unreliable sources. But, I know you have a problem with scientific sources which you define as "leftist propaganda". But, tell me SaintFan, how is OPEC's report "left-wing propaganda"?

BTW, OPEC's report is based on science and compilation of facts and uses statistical modeling to come up with these numbers and projections. They are not quotes from your ex-brother in law, or other "people you know" who work in the oil industry.

And, interestingly, this report from OPEC, mentions global warming and climate change and takes it into consideration in their projections.

And, Danno, it makes no sense to feel sad about the energy predicament we are in .... but you can do something about it. First, get educated about this issue and then work hard to reduce your fossil fuel consumption, and reduce your carbon footprint. Then you can support subsidies for energy development of non-carbon-based energy sources.

03-21-2012, 02:00 AM	#25
WHO_DAT_CAT 100th Post Join Date: Oct 2011 Location: California - Bay Area Posts: 386	So, you only believe industry sources ...... OK, here is OPEC's World Oil Outlook for 2011. In OPEC's World Oil Outlook for 2011, page 72, Figure 1.25 shows the drop off of OPEC crude oil supply starting in the 70s and going to 2035. They say it very clearly: "OPEC crude share in total world oil supply: 1973 51%, 2010 34%, 2035 36%", while, this report shows that demand will grow in the future, OPEC producing nations will only supply 36% of world oil supply in 2035. The chart also shows that "other sources of oil" will replace OPEC crude. If OPEC had the oil to sell, tell me SaintFan, why would OPEC be projecting that "other sources of oil" will fill the gap in oil supply in 2035? Don't you think that OPEC would want to sell 51% of oil, instead of 36%, to meet demand, if they could? I think they would. As I mentioned above, we are now beginning to extract oil from other, dramatically more expensive, fossil fuel sources, such as shale and oil sands. OPEC's report discusses it in detail, and uses these "other sources" to replace the loss from OPEC crude sources. They state, on page 69, in pertinent part: "...increases in conventional supply from the Caspian and Brazil, as well as steady increases in biofuels, oil sands and shale oil will more than compensate for expected decreases in mature regions." These other sources and their development will increase prices for gas due to the higher cost of development of these unconventional sources when compared to cost of production in "mature regions". These mature regions are where the oil reservoirs are being emptied. So, SaintFan, you appear to be the one listening to unreliable sources. But, I know you have a problem with scientific sources which you define as "leftist propaganda". But, tell me SaintFan, how is OPEC's report "left-wing propaganda"? BTW, OPEC's report is based on science and compilation of facts and uses statistical modeling to come up with these numbers and projections. They are not quotes from your ex-brother in law, or other "people you know" who work in the oil industry. And, interestingly, this report from OPEC, mentions global warming and climate change and takes it into consideration in their projections. And, Danno, it makes no sense to feel sad about the energy predicament we are in .... but you can do something about it. First, get educated about this issue and then work hard to reduce your fossil fuel consumption, and reduce your carbon footprint. Then you can support subsidies for energy development of non-carbon-based energy sources.
	Did I mention that California is full of generous, forgiving people?