John Stossel - Delusions of Energy Independence

[ElJefer]

When foreign oil prices become larger than national oil prices, we will transition. Am I missing something?

[jeffersonwray833]

this is whre I found my job ...careerstart.info...

[jeffersonwray833]

yup, it was

[MsZeitgeist85]

A surplus of 6 million barrles a day? That is really not that much because the world uses a billion barrles every 11 days.

Pickens is right and Stossel and Bryce are idiots.

[SuperFifthwheel]

@MsZeitgeist85 Actually the U.S. consumes (based on 2004 estimate) about 9.5 million barrels a day and the U.S. consumes %43 of the worlds oil production. That means that the rest of the world (the remaining %57) use approximatly 11.4 million barrels a day. in 11 days the rest of the world uses 125.4 million (not billion) barrels of fuel. heres a link to the government office to clear up that arrogant ego of yours: gao.gov/new.items/d05525sp.pdf (page 19)

[MsZeitgeist85]

@SuperFifthwheel Thats not true it is common knowledge the earth uses a billion barrles every 11 days.

They must be talking about just for fuel because oil is used for lots of other things almost all plastics come from oil.

Just to clear up the stupidity of John Stossel.

[SuperFifthwheel]

@MsZeitgeist85 Thats "THE GOVERNMENT ACCOUNTABILITY OFFICE" citation. The GAO is part of the U.S. government. Quit being arrogant and read the factual data listed.

[SuperFifthwheel]

@MsZeitgeist85 No it doesnt. Billions of gallons yes, but only millions of barrels. Your confused. Check page 13 to clear up the crude oil production.

[SuperFifthwheel]

@MsZeitgeist85 Page 13: The world oil supply including all non-opec nations pulls out 80 million barrels of oil a day. Even 80 million times 11 does AND WILL NEVER equal 1 billion. The only stupid person is an arrogant one who is presented hard facts and rejects the GAO statistics because of a hatred for libertarians.

[SuperFifthwheel]

@MsZeitgeist85 And heres more proof from the EIA: eia.doe.gov/pub/oil_gas/petrol­eum/analysis_publications/oil_­market_basics/images/worldcons­.gif

Good luck trying to debunk the GAO and the EIA. 80 million for the WHOLE world. Hope you quit being arrogant and start learning how to research actual facts next time you open your arrogant mouth.

[MsZeitgeist85]

@SuperFifthwheel Pay Attention I said total oil use as in all oil that is used for everything form petrochemicals to the plastic in your computer . Not energy only oil use.

Please read and re-read untill you can tell the diffrence.

[SuperFifthwheel]

@MsZeitgeist85 The world produces 80 million barrels a day, you cant use more than that, are you always this dense or do I have to spell everything out for you? Or are you just afraid to admit you were wrong?

[MsZeitgeist85]

@SuperFifthwheel Matt Simmons said it is a billion every 11.5 days and he knows more about this than these 2

The EIA page I saw says it is 80-89 million a day which is only slightly less if it is 89 a day.

[SuperFifthwheel]

@MsZeitgeist85 eere.energy.gov/vehiclesandfue­ls/images/facts/fotw432.gif -heres more proof. The Department of Energy of the U.S.,Rest of world is 57 million barrels per day (MBPD). And if you dismiss the Department of energy, Government accountability office, and the EIA, then I cant help you. Matt Simmons was denoting world oil reserves in billions, not consumption and production which is in millions. And Saudi sits on over 1 trillion barrels of reserves.

[MsZeitgeist85]

@SuperFifthwheel Saudi Arabia is alredy past peak. I think everyone can agree on that.

[SuperFifthwheel]

@MsZeitgeist85 Idk, I cant see in the well. Perhaps it is, but I dont live on assumption I live on fact and I'm not going to loose sleep if Americans have to ride bikes to get to work. Simmons is a smart man, you should quit misquoting him. He believes in peak oil, thats cool. I just really could care less if we ran out. Maybe then the market will be forced to really get a energy revolution and we can finally get our flying cars and potatoe powered jump boots.

[daPlumber702]

@MsZeitgeist85 wrong

[MsZeitgeist85]

@daPlumber702 You don't think that Saudi Arabia is past peak?

There are countless independant sources that confirm this and they are showing signs that they are.

[jaeLAX23]

@MsZeitgeist85 Peak oil if oil is used to get at more oil.

[yojimbe1]

The reason Pickens and all oil tycoons believe in peak oil is because they get more money for said oil if everyone buys the idea that oil is scarce.

[yojimbe1]

T. Boone Pickens is just a greedy oportunist that cares only about putting another dollar in his pocket. Anybody seen Jesse Ventura's Conspiracy Theories episode on water? Pickens bought a ton of land in north texas and is going to drill not for oil but for water out of one of the biggest fresh water reserves under the U.S. Texas law says that if you can drill a well on your land the water is yours for free. He will bottle this water and sell it to the people when drinkable water is scarce.

[Elestareus]

They haven't yet because our government is making too much tax money off the oil companies.

[strawberEfieldz4ever]

2:36 lmao that guys face

[d1incharge]

Why doesn't anybody mention that OIL wouldn't work without subsidies either! Wind/Sun is better than oil and the price of oil will stay low if we keep subsidising it, rich people can't stay rich if poor people can't afford to drive to their strip malls. This guy works for BP, he just bitches and doesnt have a single worth a sht solution other than wait for prices to skyrocket, we will figure things out, RIGHT!!. This is how Exxon treats its competition.

[jimbo525SE]

@d1incharge Yeah we might be giving oil subsidies which should stop, but you are one of the biggest dumbasses ever if you think that if all subsidies went away oil wouldn't be the predominant energy source.

[d1incharge]

@jimbo525SE Oil is 40% of our energy..........natural gas and coal make up 46%..............who is the dumbass?

[jimbo525SE]

@d1incharge Well most of that is coal. Natural Gas is still more expensive than coal and oil, but wind and solar are way too expensive to be reliant on them, especially solar. They are still fossil fuels which you environmental types hate so much so what is your point? The problem with these "new" energy sources, is that they are actually old energy sources. Its what we used for energy before the industrial revolution.

[d1incharge]

@jimbo525SE I am not an environments, I just see a nonrenewable, or such dependance, as bad things. Put a few small groups together to control a product they help make us dependant on and I only am going to assume the worst. Solar pholtovoltaic is expenseve, other types of solar are really not that bad. I would prefer my house to be off of any grid, when the power goes out and it is cold, you are helpless and there is the problem with dependance. the 50 50 was just an example.

[EasyEs]

@d1incharge Oil production doesn't get subsidized in Canada.. yet we seem to produce it no problem and make some money. Also Exxon pays more in taxes then the bottem 50% of American tax payers.

[d1incharge]

@EasyEs This is where intelligence becomes obvious. The more exxon pays in taxes the more it charges the customers, taxes do not effect their profit, it only effects the price of fuel. Therefore the bottom 50% of american tax payers, if they consume 50% of the fuel, they are paying for 50% of exxons taxes plus their own. Can you wrap your brain around that? Or do I need to explain it in a different way? Exxon doesnt' pay taxes, it's customers pay taxes.

[Pdrum2]

The thing we have to realize is that the enviromentalist today are driven by religious panthiesm, people like Al Gore. They place nature over human rights.

[Pdrum2]

lol

[ProudConservative2]

WOW... this was absolutely awesome! Hey... when we NEED another source of energy because oil and natural gas finally run out... we'll create it!!!! It will be out of necessity and not govt intervention.

[SuperGuitarman69]

Drill Drill Drill. The free market will come up with new innovation. Til then drill! If drilling in the receding hairline of Al Gore produced a fair amount of crude oil I say hold him down I'll go get my Black and Decker!

[LokiScoutSniper]

Where are all the tycoons, real leaders who innovated and got things done. We claim to have ideals but, why is it always Laissez-faire or government run. well to not suffer a failed utopia state solution you must suffer the risk . The risk of failure to not hit it big and innovate better. I believe most can prove their weight in gold much like we proved in America even just GDP wise, that it was risk and general success is what got us here and more of the same is necessary to leap forward.

[Lordgeek4]

I think Mr Pickens is sincerely trying to help, and make a buck as well (ok several billion bucks). Unfortunately he is just too excited about the money he might make that he doesn't see other solutions available such as nuclear energy. In a free market his mistake would get corrected. In a government planed market his mistake will get amplified.

BTW: We need a gallon of gas to make a gallon of ethanol. Not really a win unless your going to drink the results. 5 2 days ago

[TheLegalImmigrant05]

@Lordgeek4 "I think Mr Pickens is sincerely trying to help" - I would not be so sure about that. Google "T. Boone PIckens eminent domain"

[selfrealizedexile]

T. Boone Pickens is just another crony capitalist. The gov't coddling argument has been refuted by thousands of economists for centuries.

[scrappmutt2]

Imagine, an America powered by farts and sunshine:)

[hahahaspam]

Peak oil is an idiotic position.

"Well, gee, when we go from place to place that has oil, we run out. Well, the world is made up of these depositories. Therefore, the world is going to run out in the same way!"

Anyone with half a brain and some logic skills can see the problem here.

"Individual atoms are invisible to the naked eye. You're made up of individual atoms. Therefore, you're invisible!"

Can't shake that logic!

[Pdrum2]

@hahahaspam lol, but we are visible.

[CommSense]

pickens got sonned and rightly so.

[Tidoublemy]

Bicke Pickens seems like a nice guy... it was awkward to see him get blatantly destroyed like this.

[XCritonX]

@Tidoublemy I think Mr Pickens is sincerely trying to help, and make a buck as well (ok several billion bucks). Unfortunately he is just too excited about the money he might make that he doesn't see other solutions available such as nuclear energy. In a free market his mistake would get corrected. In a government planed market his mistake will get amplified.

BTW: We need a gallon of gas to make a gallon of ethanol. Not really a win unless your going to drink the results.

[Tidoublemy]

haha... and my Bicke I mean Boone.

[Surhotchaperchlorome]

...umm..wind energy is bogus.

You need like...100 square miles to create the same production as 1 square mile of nuclear power.

Solar energy, because it produces energy at high current low voltage has HUGE ohmic losses and can't be transported very far.

Solution: get the government out of this and just let the market decide.

[Surhotchaperchlorome]

"Well you need to get it started."

Did Thomas Edison need gov't subsidies?

Did Any of the other great inventors in the 19th century?

Please.

Gov of the gaps argument.

[Surhotchaperchlorome]

The peak oil panickers know nothing of supply, demand and profits...

[sdfkjllshadflhadfshl]

We have all the energy we could ever use here in the USA. We have simply blocked our access to it in favor of drilling in other parts of the world where the environmental standards are much lower. True environmentalists should be screaming for more drilling in the USA. where we can keep it clean and safe, vs in iraq where there are no rules for drilling.

[manoman0]

well said...I am sure Al Gore's Pools are windpower heated ...lol

[enotdetcelfer]

Hey LP... just wanted to say you're doing a great job recutting/representing these important debates ("flash-points?") in policy/philosophy today. They are fantastic summaries/recaps that keep people engaged in the discussion of liberty and the policy thereof.

Thanks for posting. 8)

[Knightmixer]

The ending was priceless. Nice video

[sniped101]

@Knightmixer indeed it was lol!