A barrel is 336 cups (42 Gallons x 64 ounces/ 8 oz.) that would make a cup of oil .30 a cup at $100 a barrel. Not .15. I think he meant a pint. Correct me if I'm wrong. I haven't done math in a while.
america is now one of the most indebted nations in the world. It overuses oil, overconsumes everything, and the people who are the worst are wall street ponzi scheme, gambling addicts. I watched a mortgage millionaire on TV who was basically making his money off of subprime loans, and now, he has his 100 million and g4 jet, and all this while america burns. He seemed really proud of himself. Fcking pathetic.
Hemp for victory !!! 10% of food crop space would power america through hemp oil? why are we allowing our country to slowly degrade into a third world level? And now L.E.A.P. is questioning our methods against the drug concept... I truly want to understand so i can feel like patriot.
A man has paid off his humble house. He owns it outright. It's his. It's worth 100,000.
Up the road is a man who boasts title to three houses, each worth a million. He neglects to mention his twenty million dollar debt for that privelige.
I appreciate who is more influencial, but who is richer?
P.S. 'Astronomically' (just in case someone goes ad hominem on me).
It is the most influencial country economically, but if liquidated, it would be scraped bare, and owing a shitload. Be grateful of your 'world banks' who forgive your debt.
These truths have been withheld from the US general public.
Ship of Fools.
The rest of the world demands a stocktake.
Thanks for America's contributions, they're appreciated. But the present economic management of USA isn't done by the smart americans, only the exploiters.
America is not the richest country in the world. It is the biggest economy in the world at a national level. America is living on its credit card. Many other countries are very comfortable and are not considering calling on their credit card. Oil reliance is a good example of credit card dependent politics.
Funny how he brings up Peak Oil and they say, well what about wind? Uh, hello? Wind, solar, geothermal, etc. combined can't affect the impact of Peak Oil at all.
We have no right to control Iraqi oil. Your right. Of course, to keep things humming at home we require lots of oil. Simple as that. Here's an excerpt from the Carter Doctrine, an often cited policy enacted in 1980. "An attempt by any outside force to gain control of the Persian Gulf region will be regarded as an assault on the vital interests of the United States of America, and such an assault will be repelled by any means necessary, including military force."
We need oil for basic G7 uses such as water treatment facilities, transportation of food. Look at a developing nation and see how they cope with NO OIL or VERY LITTLE. If we consumed less on cars, made more solar panels, had a garden, then we would be in better shape and wouldnt have to buy weapons to kill. DRIVE LESS.
Oil is an amazing substance. It powers utilities and transports our food. But it does so much more. Like modern agriculture, loosely defined as the process of converting fossil fuesl in to food. Basically, Americans are eating oil and natural gas. So, your right we need only shelter, and food, and water. But remember that OIL=FOOD. Some nations get by with no oil but we don't. Worse still, we forget how to get by with no oil. Most people are unprepared to live in a world with less oil.
Cyrus255, I can see you attended public school in the states b/c you believe Peak Oil is a scam. Education in the U.S. is DESIGNED to keep young Americans incurious and misinformed about the world outside their small town. Try to break out of that system and learn for yourself. Peak Oil is not a theory, it is an direct observation on the lifetime production of a given oil field. It is inevitable.
Yes, know your enemy! In your case, Ignorance is your greatest opponent. If you want to win that struggle I suggest pulling your head out of the sand and cracking open a book. FYI, your car doesn't run on french fry oil, and it probably never will.
Make this guy pay $8 per gallon for gasoline. Seriously, right now, he should start by example showing America how much we should be paying for gasoline.
American oil is cheaper than most european countries. We produce quite a bit more with it and we waste alot too. But with an economy based on cheap oil american will have a hard time coping with high oil prices. But i do not feel one bit sorry for Oil companies. If their ceo's are pulling $100 million salaries it does not affect them one bit to fill their hummers with pricey oil.
Thats why those cocksuckers are in Iraq for the oil. HELL NO. That little kid you murdered over there and those women you rapped over there are going to haunt you. Those little kids with no arms are going to slap the shit out of with the other hand you cocksucker mutherfuckers FUCK WAR.
Alternative energies were making good progress in the 1970's when oil prices went up.
But OPEC then reduced oil prices just enough to keep alternative energies uncompetitive.
They'll do the same thing again unless they have enough invested in alternative energies themselves that they want to push them.
I don't believe they'll push prices much over $100/barrel because they have huge holdings across the economy, and inflation would reduce the value of their investments.
i dont understand your logic, how do u go from "us leaving iraq" to "oil would drop substantially"? do u think iraq will be more stable?, or so gratefull that they'll start doing everything they can to get the western world more and cheaper oil?
As long as we're there we 1) eliminate 1 source of competition, 2) convince the world we will fight wars over oil, 3) continue the unstable, uncertain situation, 4) prevent Iraqis from taking over their own oil who would do better with production and who have an interest in producing oil for their own wealth. All this contributes to higher oil prices. We need to dispel the notion that its in our interests to secure our resources through military means. If we want something we pay for it.
If we left Iraq the price of oil would skyrocket. If we never invaded Iraq oil would be even higher than $100 a barrel today. The U.S. needs to control that oil. If we left the 'open market' to determine price we wouldn't be able to buy as much as we need. Saddam wouldn't let us pay for oil in dollars if he were still in power; he wanted to price oil in euros before we took him out. Thats not good for us.
What the hell are you talking about we're the richest country in the world if oil was $300/barrel we'd still be able to afford it if we needed it. The only difference is if its brown people making the profits or white people. Obviously we can't have brown people making any money, right? And if you want to see oil skyrocket just wait until we invade Iran.
We're the richest country in the world b/c oil is priced in dollars. If oil was priced at any other currency, then foreign governments would dump their dollar reserves which would cause the value of the dollar to plummet. If the value of U.S. dollars were to crash, then the U.S. wouldn't be so rich anymore. Saddam was trying to force this pricing change so we took him out. Iran is currently trying the same thing which is one big reason why Bush/Cheyney is demonizing him in prep for war.
We're on a foolhardy course if we think we can continue to maintain our dollar through military might. At some point that is going to come crashing down on us.
Yes, we are foolhardy. And desperate too. It may come crashing down, but at least we can say we went down fighting. You don't get to the position the U.S. is in by laying down and letting things happen. You go out there and force regime change, rough up the little guy, kick butt and take names and most importantly, never say your sorry.
What he is calling "tarsands" is profitable to produce when oil is above $35 a barrel. We are WAY above that now, and Alberta Canada is in a HUGE oil boom as a place that has more oil than all of Iraq and Iran put together. Americans are kept completely ignorant of this fact because a FAR bigger profit for US and London can come from arms deals by maintaining an unstable Middle East.
perhaps u should go back and listen to simmons' reply at 3:56, he did not disagree that many other resources like the tarsands got economical at 50 dollars/barrel. these sources have other problems like possible flow rates and eroei (energy returned over energy invested). when u plan to put a nuclear plant on your sand to cook it to an oily goo, it should ring a bell.
Ha hA, and the Albertans are amking a fortune from oilsands as you are speking.
Lol, look it up.
"Flow rate"...how silly.
For $35 a gallon they extract it and sell it and are the biggest source of oil for the US outside of Venezuala. Most oil in US does not come from Middle East. That is a myth, and the Israelis need that myth so that they can continue to seem important and Dick Cheney needs it to continue profiting from arms sales
The tar sands are an important source of oil for the world. But don't get cocky, kid. The tar sands at maximum today will output 1 million barrels. The world consumes 84 million barrels, 20 million of which is consumed by the states. The tar sands, as of today, is not going bring down the price of oil. The tar sands can merely buy us time until we can find alternatives or reduce demand. The tar sands may have a huge reserves but we can't extract it fast enough.
Why do you people think Bush and Cheney have destabilized the middle east. They did it for Iraqui oil and to drive the price through the roof. These are truely evil people that need to be impeached now.
Yep. Cheney moved his wealth into other currencies and moved his company to Dubai (btw, the Bushes also have a large stake in Halliburton through Dresser Industries) and he will move there when he's no longer VP.
Rumors are that he's going to resign for health reasons and Rice will be VP for a face-off against Hillary in 2008.
Revelation 6:6 And I heard a voice as if in the midst of the four living creatures say: "A quart of wheat for a de·nar´i·us, and three quarts of barley for a de·nar´i·us; and do not harm the olive oil and the wine."
That 3% doesn't take into account oil that hasn't been found. So we need to wonder, where has oil not been looked for yet? How much is out there that hasn't been found yet?
We could optimistically conclude that there are huge unknown oil supplies out there, if we wanted to.
Actually, this figure is based on the estimated total global endowment of oil reserves, and is based on Ken Deffeyes's Hubbert linearization: 1 trillion barrels remain, and 30 Billion barrels are consumed each year. So it does include oil reserves not yet discovered. Its basic math really.
Why do people say "Peak Oil" is a theory? It is FACT that it occurred in America in the early 70s...
Gumbi1012 1 week ago
This guys a douche"!!!!
Boozie65 2 years ago
A barrel is 336 cups (42 Gallons x 64 ounces/ 8 oz.) that would make a cup of oil .30 a cup at $100 a barrel. Not .15. I think he meant a pint. Correct me if I'm wrong. I haven't done math in a while.
BigfootIsMyPal 2 years ago
Nevermind. A gallon is 128 ounces, not 64. I'm so used to the half gallon container. ooops.
BigfootIsMyPal 2 years ago
oil is underpriced?! what a looney.
dargay 3 years ago
The traders may have been acting in concert to run the prices up and crash economies on purpose, and thus extending reserves of oil.
mrmultidextrous 3 years ago
The price of crude oil is unbelivable!!!
hellotianfei 3 years ago
I know, it's cheap.
moniequa 3 years ago
What a fool! The crude just went below $50 a year later...
jntiger 3 years ago
america is now one of the most indebted nations in the world. It overuses oil, overconsumes everything, and the people who are the worst are wall street ponzi scheme, gambling addicts. I watched a mortgage millionaire on TV who was basically making his money off of subprime loans, and now, he has his 100 million and g4 jet, and all this while america burns. He seemed really proud of himself. Fcking pathetic.
krist300 3 years ago
Hemp for victory !!! 10% of food crop space would power america through hemp oil? why are we allowing our country to slowly degrade into a third world level? And now L.E.A.P. is questioning our methods against the drug concept... I truly want to understand so i can feel like patriot.
hoppermantis 3 years ago 2
Don't become a blind patriot. We seem to be seeing that brand a lot nowadays.
Solechnaya 3 years ago
'Privilege'. Sorry ad homonids.
naganokumas 3 years ago
To simplify it:
A man has paid off his humble house. He owns it outright. It's his. It's worth 100,000.
Up the road is a man who boasts title to three houses, each worth a million. He neglects to mention his twenty million dollar debt for that privelige.
I appreciate who is more influencial, but who is richer?
P.S. 'Astronomically' (just in case someone goes ad hominem on me).
naganokumas 3 years ago
Your country is in the red astronocially.
It is the most influencial country economically, but if liquidated, it would be scraped bare, and owing a shitload. Be grateful of your 'world banks' who forgive your debt.
These truths have been withheld from the US general public.
Ship of Fools.
The rest of the world demands a stocktake.
Thanks for America's contributions, they're appreciated. But the present economic management of USA isn't done by the smart americans, only the exploiters.
naganokumas 3 years ago
Great guy Matt Simmons.
He is one of the few that is honest in the oil business
Baestaens 3 years ago
Scared of nearing $100?
They should see today's prices.
Colombian459 4 years ago
America is not the richest country in the world. It is the biggest economy in the world at a national level. America is living on its credit card. Many other countries are very comfortable and are not considering calling on their credit card. Oil reliance is a good example of credit card dependent politics.
naganokumas 4 years ago
America NOT the richest country in the world ? Read much?
JimboWHO 3 years ago
They're only rich in money.
Solechnaya 3 years ago
Did you really write this?
Are they any smarter than you in the Ukraine?
JimboWHO 3 years ago
Sighh. I was warning you to not follow blindly.
Solechnaya 3 years ago
No hon, you were 'warning' HOPPER down below.
I'm sure he appreciates it as much as I appreciate you teaching me that we in the U.S. are "only rich in money."
JimboWHO 3 years ago
Sorry. I did not make myself entirely clear. I meant to say that many people there, but not all, are rich in money. Sorry if it insulted you.
Solechnaya 3 years ago
Funny how he brings up Peak Oil and they say, well what about wind? Uh, hello? Wind, solar, geothermal, etc. combined can't affect the impact of Peak Oil at all.
Sentinel4truth 4 years ago
To sum it up ... were Fu*ked.
Tigerpoi51 4 years ago 2
We have no right to control Iraqi oil. Your right. Of course, to keep things humming at home we require lots of oil. Simple as that. Here's an excerpt from the Carter Doctrine, an often cited policy enacted in 1980. "An attempt by any outside force to gain control of the Persian Gulf region will be regarded as an assault on the vital interests of the United States of America, and such an assault will be repelled by any means necessary, including military force."
belmont14 4 years ago
We need oil for basic G7 uses such as water treatment facilities, transportation of food. Look at a developing nation and see how they cope with NO OIL or VERY LITTLE. If we consumed less on cars, made more solar panels, had a garden, then we would be in better shape and wouldnt have to buy weapons to kill. DRIVE LESS.
kylestrutt 4 years ago
Oil is an amazing substance. It powers utilities and transports our food. But it does so much more. Like modern agriculture, loosely defined as the process of converting fossil fuesl in to food. Basically, Americans are eating oil and natural gas. So, your right we need only shelter, and food, and water. But remember that OIL=FOOD. Some nations get by with no oil but we don't. Worse still, we forget how to get by with no oil. Most people are unprepared to live in a world with less oil.
belmont14 4 years ago
I left my heater on last night so peak oil is just a drop in the ocean.
shithead300 4 years ago
Peak oil is a scam, This guy is a CFR traitor. Know your enemy!
eekdog2005 4 years ago
Amen, eekdog. Peak oil, like global warming, and many of the mid-east wars are DESIGNED to drive up oil prices.
Cyrus255 4 years ago
You guys will get it in a couple years, at least you are listening and thinking about it.
alanhowitzer 4 years ago 2
Cyrus255, I can see you attended public school in the states b/c you believe Peak Oil is a scam. Education in the U.S. is DESIGNED to keep young Americans incurious and misinformed about the world outside their small town. Try to break out of that system and learn for yourself. Peak Oil is not a theory, it is an direct observation on the lifetime production of a given oil field. It is inevitable.
belmont14 4 years ago
Yes, know your enemy! In your case, Ignorance is your greatest opponent. If you want to win that struggle I suggest pulling your head out of the sand and cracking open a book. FYI, your car doesn't run on french fry oil, and it probably never will.
belmont14 4 years ago
Make this guy pay $8 per gallon for gasoline. Seriously, right now, he should start by example showing America how much we should be paying for gasoline.
ThinkTankedUSA 4 years ago
He appeared to be in London, where believe me, they are paying about $6 a gallon already...and are doing just fine.
SatwaMan 4 years ago
American oil is cheaper than most european countries. We produce quite a bit more with it and we waste alot too. But with an economy based on cheap oil american will have a hard time coping with high oil prices. But i do not feel one bit sorry for Oil companies. If their ceo's are pulling $100 million salaries it does not affect them one bit to fill their hummers with pricey oil.
lewti27 4 years ago 2
Some facts about peak oil:
The world peaked in oil discoveries in 1963.
For the past 3 decades we have been using 5 barrels of oil for every 1 found.
America as well as 50 other oil producing countries have already experienced a peak in oil production, the world will follow this same pattern.
We are using nearly 1,000 barrels per second globally. America uses 25% of that production, but accounts for only 5% of the world's population.
crazycoyle96 4 years ago 4
They forgot to mention the Chinese, who are putting their bikes aside and adopting the car culture of the US - a stupid move on many levels.
The situation is so dire, we may have to go back to coal.
MarquisdeBarrabas 4 years ago
Thats why those cocksuckers are in Iraq for the oil. HELL NO. That little kid you murdered over there and those women you rapped over there are going to haunt you. Those little kids with no arms are going to slap the shit out of with the other hand you cocksucker mutherfuckers FUCK WAR.
DonFamoso 4 years ago
Alternative energies were making good progress in the 1970's when oil prices went up.
But OPEC then reduced oil prices just enough to keep alternative energies uncompetitive.
They'll do the same thing again unless they have enough invested in alternative energies themselves that they want to push them.
I don't believe they'll push prices much over $100/barrel because they have huge holdings across the economy, and inflation would reduce the value of their investments.
EchelonMonitor 4 years ago
In other words, the world has become hostage of the "Oil Mafia".
MarquisdeBarrabas 4 years ago
If we left Iraq the price of oil would drop substantially. No one seems to remember that oil was $25/barrel in 2002.
thomasw78 4 years ago 2
i dont understand your logic, how do u go from "us leaving iraq" to "oil would drop substantially"? do u think iraq will be more stable?, or so gratefull that they'll start doing everything they can to get the western world more and cheaper oil?
delonewolf 4 years ago
As long as we're there we 1) eliminate 1 source of competition, 2) convince the world we will fight wars over oil, 3) continue the unstable, uncertain situation, 4) prevent Iraqis from taking over their own oil who would do better with production and who have an interest in producing oil for their own wealth. All this contributes to higher oil prices. We need to dispel the notion that its in our interests to secure our resources through military means. If we want something we pay for it.
thomasw78 4 years ago
If we left Iraq the price of oil would skyrocket. If we never invaded Iraq oil would be even higher than $100 a barrel today. The U.S. needs to control that oil. If we left the 'open market' to determine price we wouldn't be able to buy as much as we need. Saddam wouldn't let us pay for oil in dollars if he were still in power; he wanted to price oil in euros before we took him out. Thats not good for us.
belmont14 4 years ago
What the hell are you talking about we're the richest country in the world if oil was $300/barrel we'd still be able to afford it if we needed it. The only difference is if its brown people making the profits or white people. Obviously we can't have brown people making any money, right? And if you want to see oil skyrocket just wait until we invade Iran.
thomasw78 4 years ago
We're the richest country in the world b/c oil is priced in dollars. If oil was priced at any other currency, then foreign governments would dump their dollar reserves which would cause the value of the dollar to plummet. If the value of U.S. dollars were to crash, then the U.S. wouldn't be so rich anymore. Saddam was trying to force this pricing change so we took him out. Iran is currently trying the same thing which is one big reason why Bush/Cheyney is demonizing him in prep for war.
belmont14 4 years ago 3
We're on a foolhardy course if we think we can continue to maintain our dollar through military might. At some point that is going to come crashing down on us.
thomasw78 4 years ago 4
Yes, we are foolhardy. And desperate too. It may come crashing down, but at least we can say we went down fighting. You don't get to the position the U.S. is in by laying down and letting things happen. You go out there and force regime change, rough up the little guy, kick butt and take names and most importantly, never say your sorry.
belmont14 4 years ago
Bullshit.
What he is calling "tarsands" is profitable to produce when oil is above $35 a barrel. We are WAY above that now, and Alberta Canada is in a HUGE oil boom as a place that has more oil than all of Iraq and Iran put together. Americans are kept completely ignorant of this fact because a FAR bigger profit for US and London can come from arms deals by maintaining an unstable Middle East.
SatwaMan 4 years ago
perhaps u should go back and listen to simmons' reply at 3:56, he did not disagree that many other resources like the tarsands got economical at 50 dollars/barrel. these sources have other problems like possible flow rates and eroei (energy returned over energy invested). when u plan to put a nuclear plant on your sand to cook it to an oily goo, it should ring a bell.
delonewolf 4 years ago
Ha hA, and the Albertans are amking a fortune from oilsands as you are speking.
Lol, look it up.
"Flow rate"...how silly.
For $35 a gallon they extract it and sell it and are the biggest source of oil for the US outside of Venezuala. Most oil in US does not come from Middle East. That is a myth, and the Israelis need that myth so that they can continue to seem important and Dick Cheney needs it to continue profiting from arms sales
SatwaMan 4 years ago
The tar sands are an important source of oil for the world. But don't get cocky, kid. The tar sands at maximum today will output 1 million barrels. The world consumes 84 million barrels, 20 million of which is consumed by the states. The tar sands, as of today, is not going bring down the price of oil. The tar sands can merely buy us time until we can find alternatives or reduce demand. The tar sands may have a huge reserves but we can't extract it fast enough.
belmont14 4 years ago 6
Why do you people think Bush and Cheney have destabilized the middle east. They did it for Iraqui oil and to drive the price through the roof. These are truely evil people that need to be impeached now.
blair227 4 years ago 5
Very very unusual that they have this kind of information even mentioned in the MSM. Someone is going to get fired or 'reassigned'.
kevinabt 4 years ago
this guy works for the neocons...who killed the electric car?
MojoJuana 4 years ago 4
Among other things, Dick Cheney's plan is all falling into place.
politicomark 4 years ago
Yep. Cheney moved his wealth into other currencies and moved his company to Dubai (btw, the Bushes also have a large stake in Halliburton through Dresser Industries) and he will move there when he's no longer VP.
Rumors are that he's going to resign for health reasons and Rice will be VP for a face-off against Hillary in 2008.
EchelonMonitor 4 years ago
zzcoolfun - Nice NWT quote. Keep it up brother.
bigtarget 4 years ago
The GREED of these people knows no end. They can justify any sort of price gouging.
politicomark 4 years ago
Revelation 6:6 And I heard a voice as if in the midst of the four living creatures say: "A quart of wheat for a de·nar´i·us, and three quarts of barley for a de·nar´i·us; and do not harm the olive oil and the wine."
zzcoolfun 4 years ago
fukkin wino
SatwaMan 4 years ago
The "peak oil" party is about to begin.
IndyDoug 4 years ago
Yes it is. That is, if it hasn't already started. I wouldn't exactly call it a party however.
belmont14 4 years ago
The world is now currently using about 3% of the remaining oil supply per year!
ricelso 4 years ago
Oil supply based on the current reserves, not the amount of oil left in the earth. Not really that scary at all.
wildmael 4 years ago
That 3% doesn't take into account oil that hasn't been found. So we need to wonder, where has oil not been looked for yet? How much is out there that hasn't been found yet?
We could optimistically conclude that there are huge unknown oil supplies out there, if we wanted to.
kevinabt 4 years ago
Actually, this figure is based on the estimated total global endowment of oil reserves, and is based on Ken Deffeyes's Hubbert linearization: 1 trillion barrels remain, and 30 Billion barrels are consumed each year. So it does include oil reserves not yet discovered. Its basic math really.
ricelso 4 years ago