Oil shortage a myth, says industry insider

they'll say anything to keep everyone paying the price they set is what I feel.

Regardless of how much oil is in the ground, we still need to find a better way so we can address climate change and pollution issues.

Is anyone actually surprised they're lying??

The fleecing of the world. Will the elite ever have enough money or power?

The answer is frightening.

Peak oil is beyond a doubt, it's just a matter of when.

The issue is linked very much with Climate Change, and even if this guys isn't full of shitte, it, if anything, exacerbates humanity's greatest challenge yet.

Better hope that Peak Oil is happening now and not this, which I highly doubt. It's in the oil companies' interest to make people think that there is still a lot of oil so that people will still invest in infrastructure and technology that is enslaved to fossil fuels, i.e. highways, cars, neo-classical economics, instead of trains, mass transit, and ecological economics.

A lot like the diamond market where they rigidly control the supply to keep the price up for the demand.

Regardless of how much oil is in the ground, we will never be able to use it all and have a planet that is still comfortable for us to live on. We'll have to leave it in the ground and switch to alternative energies, hopefully sooner rather than later.

If it exists,this oil should be sealed in the ground like nuclear waste.The more it costs the less it will be used.Thats a fact,at least among street level consumers.

not surprised indeed.

I posted an article recently that said that by 2030 the five major oil exporting countries would only have enough oil to supply their own needs. This conversation about plenty of oil still in the ground needs to end - just like our excessive use of the stuff needs to end. Pressure the car companies to get plug-in hybrids and electric cars on the production line now. There is enough juice on the grid right now to power 20 million plug-in hybrids without building a single new power plant (according to Plug-in America).

It doesn't matter how much oil there is, if a) our enemies control how much of it to pump, b) it costs an arm and a leg to refine, and c) the processing of it destroys the planet!!!

I agree; leave it in the ground, and GO SOLAR!!!!

PRICE MATTERS with regard to this economy and the U.S. DOLLAR.

Forgetting that is a MAJOR MISTAKE.

Greed, stupidity, wanton destruction,... when your powers combine,... I become,... Doomed Planet!

It's good to know that we are more concerned about an oil shortage, than what we are doing to Earth. It's good to know that the "cost" of oil is a monetary definition, not the "cost" of life.

They tell us, "We need to reduce our dependency on foregin oil!" How about, "We need to reduce our dependency on OIL!"

Can oil be used forever? Can we harvest Earth of everything she has? Can we disregard the future?
END TRANSMISSION

Oh, so does that mean we should drill every last drop of it. This incessant focus on oil should be stopped and directed towards renewable energies. Can we all agree that oil won't last forever?!

anyone who has kept up on the recent investigation into the oil company exec's knows that the price we are paying for oil is not just because there is a "shortage" or not. it is because of greed and the game of it. these men would be making huge profits even if the cost of a barrel were cut in half.

it doesn't matter, we need use the better options we have abvailable to us and turn our back on these greedy bastards.

There's an ICE CAP shortage! So who cares about the OIL, we should GET OFF IT.

If they're lying to us to keep oil prices up then that should be a good thing. If lying to a nation as apathetic as ours will help us stop climate change then so be it.

Most of us won't care about the world but everyone will care about their wallets.

Go green!

What we are talking about is someone else's non-renewable natural resource that is in the ground in their countries. They have a right to say what happens with their own damn natural resource. We have our own natural resources that other countries people are free to bid on, if and when we choose to place it in the market place. Is it alright with us, if these people from other countries come into our country and attempt regime change and otherwise insinuate that the children in THEIR country are more precious then the children in ours?

If we don't like the price we find on the non-renewable commodity that some other country chooses to place on that commodity, we have had ample opportunity to develop other methods to power our transportation and our electric generation. We have no right to attempt to tell other people what is going to happen with their resources, just as we would never allow anyone else to tell us to do with ours.

And you know what else.......that is not an unpatriotic stance to take. WE are the ones committing the international crimes by bombing Afghanistan and then holding a press conference with our ex-defense secretary and answering the question, "why did you start bombing Iraq?' with the answer, "because we ran out of targets in Afghanistan!"

Necessity is the mother of invention, high oil prices will force innovation and pretty soon VOILA! new technology to replace oil. People worry too much. I think the biggest problem we have in this nation is jobs.

Hundrreads of thousands have lost their jobs because of the price of oil.

More people lost jobs due to the "credit crisis".

There is more oil in the ground than they want everyone to know. We have enough oil under our soil to sustain us for 60 years. We should tap that get off those fuckers oil get out of Iraq and find some new renewable source of energy.
Or we could just keep things like they are going right now, i mean it what ever. 5 dollars a gallon sounds awsome.

Stockpiling and saying OH NOSE we gots none will be the funniest joke the world has ever had the pleasure of being a part of, should it at all be remotely true.

Not mentioned yet is that there is also a shortage of refining capacity in the US. we not only import crude oil, we also import gasoline.

Much of the rise in oil prices is also related to the falling dollar which in turn is related to deficit spending.

We cannot play "whack-a-mole" in trying to stabalize oil prices. We must reduce or stabilize demand, stabilize the dollar and reduce the deficit and international borrowing that goes with it.

Who is to determine how much is enough and how much is over the 'limit'? Who's to say what is the rightful consumption? Environmentalist? ha.

Everyone seems to have some sort of greedy need to be right and those that lose are those that are just trying to sustain a suitable living for them and their family.

People tend to forget that.

And......what we have is an economy that is the result of, "supply side economics". Voo Doo economics. And we have the SAME butt heads that CAUSED the depression, pretending to be the guys who are going to FIX the depression.

They are shutting down the typical "corporation" and they are setting up the tax code so that these, "private equity" groups can buy up the corporations, which have SORT OF "rules" to follow so that the market place, playing field will be, sort of a, level playing field. Our economy is falling apart because these private equity groups and the "hedge funds" have no rules to follow and they keep crashing and burning. ENRON....WORLD COM...

We had an AMEREN executive come and talk at our service club. At the end of the meeting I asked the guy, "how many $600,000,000 houses does a guy NEED?" I told him that the economic model for a prosperous capitalism included a limit to the salary paid to corporate executives, to a certain number, times the shop floor wage. And I asked him how we could justify paying the CEO 400 or 500 time the shop floor wage.

Yeah! He called a communist.

yes i was right there is a magical supply of oil in the ground. lets burn that shit up

I've heard that there are theories that oil is actually a renewable resource. Do we know anything? Are we actually out of the dark ages?

Oil is renewable, it just takes tens of thousands of years for it to come back.

So, how does this so called "industry expert" explain the surge in gas prices then?

Sorry guys, oil is done for. We've known it since the 70's.

If there's twice as much as they say, then it will last 40 years instead of 20. Big deal.

Of course it's a myth generated by the Bush Propaganda machine this time.

We aren't running out of oil. We're running out of refined oil. It's been projected that Canada alone has enough oil within its borders to support the WORLD's needs for the next 100 years. The problem is, that it's mixed with many other minerals, and it cost more to refine. But yep, we are definitely not running out of oil...just cheep oil. It not new news.

People love to believe in something for nothing. That way they don't feel the need to change how they are. Look behind the curtain. The energy is coming from somewhere.

"There is Only so much Oil in the Ground"
by Tower of Power
check the song out

but yeah, i feel as if they are just telling us what we want to hear- "there's more oil than we think!" So we won't bitch as much about the rising gas prices.

Don't u think its odd that we have a shortage of oil just as Mr. Bush went in to office!!!

I agree, we should just be concerned on how to get rid of our dependence on it.