Jimbo

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  • Cheap Crude: A Flash in the (Oil) Pan
    I concur completely with Mr. Fitzsimmons. I don't know what they have been smoking at WSJ, but it must be really good stuff. George Bush might have been a hero if he had advocated an import tax on hydrocarbon imports from outside North America, but including Columbia( friendly nation that desperately needs our help). This tax should have been STRICTLY committed to developing alternative sources of energy and local sources of petroleum energy. I don't know how old Oster is, but he has a lot of rude learning ahead. A steep rise in oil prices is very much closer. Present prices jeopardize production in high cost, but nearby and dependable sources, in Canada. PGM group metals mines are closing down because they cannot afford to produce at present prices. "High prices cure high prices and low prices cures low prices". Any rational market has to balance cost and price.Any future supply of oil is going to be more costly, and difficult, to produce. We need to have a redundant energy system using wind, geothermal, nuclear, and biofuels. Hydrogen seems as far away as cold fusion. One final comment: George Soros scares the nitrogenous waste product out of me.
    Oct 27 10:39 am |Rating: 0 0 |Link to Comment |View article
  • Forget $100 a Barrel - Oil Will Plummet to $30
    Methinks Mr. Schwarz has been drinking the fermented Koolaid. If the market price for a barrel of oil falls to $30, you can forget about any crude from Tar Sands, not just Canada, but elsewhere.Heavy oil is equally costly to produce. If oil drops much below $100, OPEC will cut back conventional production. The alternative sources of energy he cites seem to me to be at least two decades away, regardless of St. Obama and Mother Pelosi. Electricity created by wind in North Dakota must suffer transmission loss before folks in Chicago can use it.( I am an indirect investor in wind power and other sources, by the way). Having ridden in natural gas powered vehicles in the Netherlands, NG certainly seems to be an alternative. But there are real costs attached to all these alternatives. Curiously, the author did not mention coal to liquids, a well established, on-the-shelf technology.
    Aug 16 13:03 pm |Rating: 0 0 |Link to Comment |View article

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