99 RT/10;
The problem is the mis-information. I happen to like TLC and have watched neat programs like "Future Car", etc. out of Australia which is like engineering gone wild.
I am a degreed electrical engineer and happen to get a rise out of the technology. However as I age, I do not get as much a rise out of the engineering since I pulled myself out of the engineering and actually started to run the business from a financial point of view.
Despite what the huggers say, the Oil Reserves are very huge and the worldwide supply is in the hundreds of years. Not all of it is accessible right now. Some of those resources are extremely remote, some are very expensive to mine, (Oil Sands (Alberta/Saskatchewan/Canada) or Oil Shale Deposits Colorado, etc.) These were never feasible at $50 Oil but $100 Oil they are very profitable. There are other major reserves being discovered each day. Brazil's latest has hit the world reserve list for size. It WILL run out, but it will not be in my lifetime, or the lifetime of your great-grand kids. Interesting thing is "so what"? If it is that bad, why do we care if it is no longer plentiful and all used up.
The Oil Reserves are being controlled (despite what others say) so that we come on side with our % foreign dependancy goals. It is a very political topic. We have peaked with Oil production because of the "back-yard" syndrome. Not in my back yard, means refine it where? Also some of the refineries are so old that they have outlived their useful life. Retrofit is way, way more costly than greenfield build, but build new where? Chicken and egg thing.
I happen to know where a lot of the Oil & Gas productions are because my company has been working for them for over 36 years now. The biggest problem with the industry happens to be becuase of an aging Oil & Gas industry. You have a ton of the Oil & Gas technical staff retiring and being replaced by fresh grads. I am sorry, these are good kids with a lot of talent and promise but you simply can not replace a 30 year experienced employee with a 1 year experienced employee.
No I am not an old timer as I am only 35 years old, but I see and hear this every day and out of the 25 major Oil & Gas companies my services company services, it is the single biggest common complaint they have.
Like I said, the well WILL eventually run dry but it will not be for a very, very, very long time.
Brazil may appear to be off Oil, but that is a misconception too. They have a ton of offshore platform and FPSO production Oil & Gas production. They are still a major producer and user. The Ethanol from sugar cane is increasing mainly for export to the US. The US used almost $35M barrels of Ethanol last year but only produced $27M barrels. The rest had to be imported from places like Brazil. It sounds good that they are increasing and getting their %dependancy on side but the ratios are misleading.
ANY energy production will have reprocussions, unless it is Fusion. There is always a biproduct and waste, except Fusion. Hyrodgen is just a water bi-product. buty even that is not truly as they say. We can come up with Hybrid fuels that use a little Ethanol, etc. but 100% Ethanol, that really scares me.
What will that do for the food supply, and everything that comes from that base product? If everyone feels that fast rising costs of milk, eggs, beef, and all these base ingredients is rising because of this or that. It comes soley from the fact that it is bigger money for farmers to produce Ethanol for gas consumption versus product for food or feedstock.
What happens when we **** all the nutrients from that soils to produce Ethanol? Farmers don't "fallow" land anymore. Oragnic ois still a very small %. They will hit these crops with everything possible to get the greatest yields possible and not care about what they are putting on becuase it is not for food consumption. I wouldn't want to look at those soil contaminant levels in 15 years. Once that soil is bad, it is bad forever.
All very hot topics. Big Oil is not the only culprit for where we are at. It just happens to be the celebrity, halo that is taking the lions share of the blame.
Okay, I am getting off my soap box now, but will leave you with this. Someone want to look at the global impact of burning the rainforest and all the clearing/burnign for farm land in Brazil. Do the energy balance on Brazil and despite their public push to show how "green" they are becoming, the numbers speak for themselves. It is truly a different shade of green, in fact it might look like a black-green.