Comments on: Peak Oil, Not Speculation http://www.aspousa.org/index.php/2009/05/peak-oil-not-speculation/ Energy Action for a Healthy Economy and Clean Environment Sat, 31 Jul 2010 06:03:46 +0000 http://wordpress.org/?v=2.6.2 By: Jonas Björkman » Fouling mitigation http://www.aspousa.org/index.php/2009/05/peak-oil-not-speculation/#comment-2454 Jonas Björkman » Fouling mitigation Tue, 12 May 2009 22:26:08 +0000 http://www.aspousa.org/?p=1566#comment-2454 [...] Peak Oil, Not Speculation :: ASPO-USA: Association for the Study … [...] [...] Peak Oil, Not Speculation :: ASPO-USA: Association for the Study … [...]

]]> By: Peak Oil, Not Speculation :: ASPO-USA: Association for the Study … : PlanetTalk.net - Learn the truth , no more lies http://www.aspousa.org/index.php/2009/05/peak-oil-not-speculation/#comment-2453 Peak Oil, Not Speculation :: ASPO-USA: Association for the Study … : PlanetTalk.net - Learn the truth , no more lies Tue, 12 May 2009 16:38:26 +0000 http://www.aspousa.org/?p=1566#comment-2453 [...] Read more here: Peak Oil, Not Speculation :: ASPO-USA: Association for the Study … [...] [...] Read more here: Peak Oil, Not Speculation :: ASPO-USA: Association for the Study … [...]

]]> By: TommyGuy http://www.aspousa.org/index.php/2009/05/peak-oil-not-speculation/#comment-2447 TommyGuy Mon, 11 May 2009 17:33:44 +0000 http://www.aspousa.org/?p=1566#comment-2447 Thanx for your nice summary of the ride we've had on the oil price roller-coaster. However... "The central issue is the containment of oil prices within bands that prevent a second peak oil recession. In doing that, we will prevent the irrational and reactionary from dominating policy and undermining the system of global trade and international relations upon which all our prosperity rests." Really! And just how do you propose to do that? Having made a good argument that the fundamental forces of supply-and-demand, and especially with the high rates of growth in China, made the six-year rise in prices inevitable (I completely agree), you then propose that we somehow can manipulate the future price into a trading "band"? This is truly a 20th century concept, when Saudi Arabia had so much spare capacity that they could be the "swing producer". I'm afraid those days are gone forever (thanx, Matt Simmons). Now that peak oil is either imminent or behind us (Raymond James), demand is in control. So what you're talking about is constraining growth. I.E. more economic malaise. I'm afraid I agree with that, too. ...TommyGuy Thanx for your nice summary of the ride we’ve had on the oil price roller-coaster. However…
“The central issue is the containment of oil prices within bands that prevent a second peak oil recession. In doing that, we will prevent the irrational and reactionary from dominating policy and undermining the system of global trade and international relations upon which all our prosperity rests.”

Really! And just how do you propose to do that? Having made a good argument that the fundamental forces of supply-and-demand, and especially with the high rates of growth in China, made the six-year rise in prices inevitable (I completely agree), you then propose that we somehow can manipulate the future price into a trading “band”? This is truly a 20th century concept, when Saudi Arabia had so much spare capacity that they could be the “swing producer”. I’m afraid those days are gone forever (thanx, Matt Simmons). Now that peak oil is either imminent or behind us (Raymond James), demand is in control. So what you’re talking about is constraining growth. I.E. more economic malaise. I’m afraid I agree with that, too.
…TommyGuy

]]> By: Scott Benson http://www.aspousa.org/index.php/2009/05/peak-oil-not-speculation/#comment-2445 Scott Benson Mon, 11 May 2009 16:14:09 +0000 http://www.aspousa.org/?p=1566#comment-2445 The recession/depression we are now in was caused by the biggest asset bubble in human history to finally blow. This has happened throughout history when too much cheap credit is available to too many people for too long. Happens every 75 years or so (Tulip bubble, South Sea bubble, tech bubble, housing bubble, etc.) The hedge funds and institutional investors had all that credit available to them as well, and they used it to bid up oil and other commoditiy prices, until they predictably fell in the summer of 2008. The price surge of 2008 was indeed speculative, and took a precipitous dive as the loans were called in my the banks. There's no way in hell the crude oil price could have collapsed as quickly as it did unless a whole lot of (phony) investment money was injected into the commodities all at once. It's not too hard to believe that every young cowboy trader on Wall Street, who read just as much about peak oil as we do, wanted to be ahead of the curve and invest in the next big disaster first -- oil depletion. I'm also not sure where this "dropping oil in storage" comes from, as the amount of oil, gasoline and distillate "ending stocks" (according to USEIA) have been at pretty consistent levels over the last 30 years. We have lots of oil and oil products now -- likely worldwide too. Yes, the bucket is full for now, but the taps are no doubt shutting down. The recession/depression we are now in was caused by the biggest asset bubble in human history to finally blow. This has happened throughout history when too much cheap credit is available to too many people for too long. Happens every 75 years or so (Tulip bubble, South Sea bubble, tech bubble, housing bubble, etc.) The hedge funds and institutional investors had all that credit available to them as well, and they used it to bid up oil and other commoditiy prices, until they predictably fell in the summer of 2008. The price surge of 2008 was indeed speculative, and took a precipitous dive as the loans were called in my the banks. There’s no way in hell the crude oil price could have collapsed as quickly as it did unless a whole lot of (phony) investment money was injected into the commodities all at once. It’s not too hard to believe that every young cowboy trader on Wall Street, who read just as much about peak oil as we do, wanted to be ahead of the curve and invest in the next big disaster first — oil depletion. I’m also not sure where this “dropping oil in storage” comes from, as the amount of oil, gasoline and distillate “ending stocks” (according to USEIA) have been at pretty consistent levels over the last 30 years. We have lots of oil and oil products now — likely worldwide too. Yes, the bucket is full for now, but the taps are no doubt shutting down.

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