John Stossel - Myth - The World Is Running Out Of Oil

[bunnybooties]

Had to throw in that little disclaimer at the end! lol

[luizcadu]

The rise in oil prices is the main reason for the long and enourmous American trade deficit. It's not just about "paying more for gas". The whole American economy is dependent on oil.

It seems to me that whenever Americans touch the main reasons of the crisis (scarcety of cheap oil and Chinese competition), they go naaaah that's no big deal! The problem is Socialism, or Wall Street...

[Warjacki]

If the enviros in the 1970s had been correct, there would be no oil today.

[Ranillon]

Stossel is just repeating the "best case" scenarios combined with the usual myths about how people have "always" been predicting the end of oil. Only, he never gives context nor how widely believed those predictions where, thereby giving a false sense of the danger. Stossel has turned into a "religious" nut for "progress" and libertarian dogma, putting his faith that both will never go wrong -- yet, he conveniently only gives you the optimistic, never the REALISTIC version warts and all.

[RBNightlinger]

There's also huge oil deposits off the coast of California but the greenies got their way and all the oil derricks were removed. And, according to them, wind power isn't good because it kills birds.

Eesh, what idiots!

[heavym3tal]

I am so tired of people who can't do math! Stop talking Bullshit. Try saying it with some proof behind it!

[JavaBlues]

No, the Tar Sands don't contain 6 Trillion Barrels of oil. Stop the lies Stossel.

[heavym3tal]

@JavaBlues Where is your proof?

[DrStrangebomb1993]

@JavaBlues No proof as usual. That's leftist logic for you.

[rehwr]

@JavaBlues How would you know?

[zonsb]

Essentially free energy could be widely available from a few sources. Power a home and car via electric power from a small unit that sits next to a house. The monopoly on energy production and distribution is a means to control the population of the world. Henry Ford new this when he built an electric car. As did Nicola Tesla. Thomas Edison was favored over Tesla because he agreed with the powers that be and created General Electric. Today GE is a major military "defense" contractor.

[metzger90]

@zonsb There is no such thing as free energy. It always takes resources that are scarce, and machinery to produce the electricity. When you find how to support an infrastructure for "free" energy tell me. I'd love to make some money of your idea.

[zonsb]

@metzger90 Essentially free in that a one time purchase of a $50 device would power a home for twenty years. In that time evermore advanced methods of taping energy geometries will be invented/discovered.

[DonnyThailand]

My friend who's studying petroleum engineering said our kids won't have to study petroleum engineering any more. He said there will still be oil underground, but all those left are inside the rocks in a way that is virtually impossible to extract.

[iluvpoliticzz]

dont care, just give me gas for my car lol

[IncoherentCommenter]

@iluvpoliticzz wow

[Shonenut213]

Not even Canada has enough oil you retard! Canada will eventually run out too. Also in 100 the global population will be like 9 Billion so we will need even more oil by then!

[CH3Jason]

One Hundred Years is not "forever"

[Dysentery7885]

at the end he says.. maybe not?? lmao.. wheres the rest of the video??

[xtremejohnny69]

@Dysentery7885 I was thinking the same thing O.o

[MrYJ99]

Look at the BOOM in Alberta Canada with the oil sands....the next "Oil Sands" opportunity will be in Saskatchewan with Oil Shale..keep an eye on Goldnev Resources..they will be changing their name to BlackStone Petroleum..they own alot of prime land there. They trade on the Canada TSX venture exchange

[jobw87]

I don't want to pay a lot more for gas. I guess I am going to buy a diesel car and use biodiesel, even if I have to make it myself or they make better cars with high MPG.

ps. Looks like Canada will be the new oil rich nation...... I'm moving to Canada to buy some cheap land and hope its oily.

[MsZeitgeist85]

Only someone as stupid as John Stossel could believe that Peak Oil is a myth.

[TheWyldeGoose]

@MsZeitgeist85 Given environmentalist track record of predicting disasters and environmental calamity, only an idiot would believe that peak oil is not a myth.

[MsZeitgeist85]

@TheWyldeGoose 1. MK Hubbard predicted Peak Oil in the US in the 50s and he was right 2. All of these so called non conventional sources have ether low production or the net energy gain is low to none. They will never replace conventional oil. 3. The plant uses a billion barrles every 11 days. All of these are things you didn't hear Stossle and Peter Hubber say because they are idiots.

[TheWyldeGoose]

@MsZeitgeist85 1. No, Hubbard wasn't right about anything (and has yet to be) 2. Wrong; if you were paying any attention there's plenty of energy out of those sources and it's now worth it to go after, so what you're saying is based on pure fantasy, and 3. where did you get that statistic, and so what if it does? Does that mean we should rely on solar and wind which can never produce enough energy to sustain an industrial economy? Should we waste our time listening to people like you?

[MsZeitgeist85]

@MsZeitgeist85 1. This is why I raised the issue of Net Energy and Production. Shale Oil takes more energy to extract and refine meaning it is worthless as an energy source. Also Tar Sand Oil has a limited production. If we were going to replace the oil from 1 Saudi Arabia Mega Feild Canada would have to build 27 more Tar Sand refineries and Tar Sand has a low Net Energy. You haven't done your homework on this. 2. WRONG Hubbard predicted that the USA would peak in 1970 and he was right.

[cwood4ever]

They're trillions of barrels of oil in the USA alone.

[MsZeitgeist85]

Yeah Trillions of barrles untill you can only extract 14% before it becomes a net energy negative. Tar Sands is the one of the most inefficent forms of energy there is.

Peter Hubber is a fraud and an idiot and John Stossel is the stupidest douche on TV. Why the fuck does this shit stain even have his own show?

[defgill]

he forgot to mention the hundreds of years worth of oil we have in Alaska and montana the gulf coast and who knows where else...

[BlunderCity]

Enough to fuel the planet for over 100 years?!!! Wow he's way off the mark! I don't care how much hydrocarbon you've got, it's how much energy you collect that matters.

Also what rate of growth? Saying 100 years is useless without that? I will assume he is still sane (doubting it though) and he means 0% growth. 100 years is 3 trillion barrels????!! Now of course if he assume current rate of growth, any rate of growth in fact, he's simply high and has no idea what 100 years is.

[AshtonPhoto]

The more I look at the balance of information the more I realize just how much false info people accept as fact.

[Loomr]

One of the things I'd like to point out about alternatives to oil and gas is that even if it does come to the point where we need a substittute, I believe the private sector can develop these innovations better than the public sector. Alot of people do not understand how much innovation the private sector produces. The world isn't controlled by public funding.

The alarmists are not technological experts, they are people who infact would like to control the public funding.

[coturnix19]

Humanity will abandon hydrocarbons in favor of high-power-density nuclear-or-like energy source before oil runs out. Stone age didn't end because stones ran out.

[cwood4ever]

@coturnix19 But oil is the only easy access fuel source that can be profitable as of right now.

[RBNightlinger]

@cwood4ever Do some research on hemp before you say that. Repeal prohibition and after just a few months, we'd have bio-fuel to spare.

[StateExempt]

@coturnix19 - That is the best analogy I have ever read on that issue my whole life, period.

[coturnix19]

@StateExempt AFAIK it was thought of first by some arabic oil shah or emir back in 70s or 60s.

[StateExempt]

@coturnix19 - That is the best analogy I have ever read on that issue my whole life. Pure and simple.

[clairishe]

If you have to pay 5-10x as much for fuel, then its still a disaster. Few people disagree that there is still plenty of fossil fuel sources remaining. Most educated people know its the cheap, easy, fuel that's running out.

[quadcatfly]

SAVE THE WHALES !!!!!

[707hoser]

Its easy to say that there is no limit to oil reserves. We are running out of ''cheap oil'' and oil that is easy to process. We are probably going to see oil in the $200 a barrel range in 2011, just in time to suck the wind out of any recovery. We won't run out of oil, just oil that we can afford to use.

[mtb416]

@707hoser You're right, but my question is why would we not be better able to get at or process this "expensive oil" tomorrow than today? Just like with hybrid cars, computers, building skyscrapers, etc., it always get cheaper with experience and therefore more wherewithal. I'm not sure if anyone has done figures suggesting how much innovation would be needed to sustain say a $100-110 per barrel cost. Right now it's trading at a about $88.

[707hoser]

@mtb416 I hope you are right and that we have time to act. We are losing four million barrels a day of production per year worldwide. We need to find that much in new reserves just to stay even.

[MrYJ99]

fr0ber, Canada has 172 Billion Barrels Proven oil (2nd in the world), but estimates of 2+ trillion. Do the research. Did you know Canada is the #1 exporter to the USA. Its not Saudi Arabia. 2 000 000 000 000 barrels/ 85 000 000 barrels per day = 23 529.4118 days = 64 Years for the entire world.

From CBC News

March 6, 2007, .......Alberta's oilsands deposits are the country's largest source of oil, with reserves estimated at between 1.7 trillion and 2.5 trillion barrels.......

[MrYJ99]

Yes Alberta has alot of oil! There is even more next to Alberta in Saskatchewan. Their is more oil sands and now oil shale. There is a company called Goldnev Resources (Changing their name to BlackStone Petroleum soon in 2011) that has discovered 2 to possibly 10 billion barrels of oil in South Saskatchewan. They trade under the symbol GNZ on the Canada TSX. Watch for huge gains. GoldnevResources com

[fr0ber]

@MrYJ99 Let me explain why I loled at "2 trillion barrels" - it is worth the worlds total economic purchasing power many times over.

and 2-10 billion barrels of oil is almost nothing to an outsiders view, it may bring great fortune to the owner - but we still use it up for energy and materials in about 25-121 days.

[canisdormit]

we won't "run out" we'll just have higher prices if reserves (the planet's worth) are more difficult to get (like from shale and other non-liquid sources). Get a freaking grip people.

Human population is on a geometric rise, and there's only a finite amount of oxygen in the atmosphere, we must change to a new gas to breathe before it's too late!!

[Creationcreed]

Judging by the gushing of the oil in the gulf, there is plunty! But should we use some kind of alternative energy.? Probably.

[avdquick]

@Creationcreed

Agreed, our future isn't on Earth but out in the stars and working on Fusion Tech, Cold Fusion and (gasp) something sci-fi like Antimatter engines would help push us into a stronger space age then what we are right now. We need better energy if were gonna colonize other planets.

[fr0ber]

Sadly I find myself disagreeing with Stossel here for the first time ever.

People don't realize when promoters of infinite oil say "we just found a hundred billion barrels" that we use 95 million every day and that the usage has been on the rise for 60 years, the arithmetic proves that usage will grow faster than oil can be produced.

A trillion barrels would last us for 30 years IF the usage wasn't on the rise so quickly, 3-7% are the estimates I remember per year.

[MrYJ99]

@fr0ber . they think now Alberta has over 2 Trillion and there is much more in the province next door (Saskatchewan)....probably another 500 Billion

[fr0ber]

@MrYJ99 2 trillion barrels? Lol.

[aznwilly211]

loving John Stossel, great research