Impending Global Economic Collapse

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14 Jun 2012, 10:45 am

The first domino in the chain should be the U.S. It should be huge, and just fall over and crush all the other dominoes at the same time.

snapcap
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14 Jun 2012, 11:20 am

YippySkippy wrote:

The first domino in the chain should be the U.S. It should be huge, and just fall over and crush all the other dominoes at the same time.

Oh, this is another American fat joke, isn't it? :wink:

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MarthaCannary
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14 Jun 2012, 11:37 am

snapcap wrote:

YippySkippy wrote:

The first domino in the chain should be the U.S. It should be huge, and just fall over and crush all the other dominoes at the same time.

Oh, this is another American fat joke, isn't it? :wink:

Bazinga?

snapcap
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14 Jun 2012, 11:39 am

MarthaCannary wrote:

snapcap wrote:

YippySkippy wrote:

The first domino in the chain should be the U.S. It should be huge, and just fall over and crush all the other dominoes at the same time.

Oh, this is another American fat joke, isn't it? :wink:

Bazinga?

Nope. Boom! Then rumbling.

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YippySkippy
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14 Jun 2012, 2:18 pm

Har har. I only meant that the world's current economic woes began in the States, and that America's economy is so large that its collapse would cause a near-simultaneous collapse of economies all over the world.
As a fat American, I don't generally make "fat American" jokes. :wink:

JNathanK
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15 Jun 2012, 11:03 am

I don't trust economic globalism. We may have averted some horrible depression this time around, but it doesn't mean that an even worst crisis isn't going to spring from the current one, I mean global trade is good for some things but not everything.

DC
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17 Jun 2012, 4:31 pm

JWC wrote:

we've got enough to last for hundreds of years. Even a drastically accelerated usage levels.

I'm sorry the smell of BS is over powering with that statement.

Please name the oil deposits so large that they are going to supply 100 million barrels a day for centuries and please tell us what the reserves are in those deposits.

autismthinker21
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18 Jun 2012, 2:34 pm

resources are being more demanding than a squrriel fighting for a tree nut. this world is nonsense. now we have election war coming. come on. this world is a complete joke. i wish this world was more unique than having a bunch of idiots stealing everything and lying. Just like how the government promised to donqte koney to schools. They lied about that to.

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JWC
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18 Jun 2012, 2:43 pm

DC wrote:

JWC wrote:

we've got enough to last for hundreds of years. Even a drastically accelerated usage levels.

Here's a link to a map from 2010 (most recent I could find):

http://gcaptain.com/who-has-the-oil-a-map-of-world-oil-reserves/

Keep in mind that this is 2 years old and new deposits containing billions of barrels are discovered almost monthly.

DC
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18 Jun 2012, 3:27 pm

JWC wrote:

DC wrote:

Please name the oil deposits so large that they are going to supply 100 million barrels a day for centuries and please tell us what the reserves are in those deposits.

http://gcaptain.com/who-has-the-oil-a-map-of-world-oil-reserves/
Keep in mind that this is 2 years old and new deposits containing billions of barrels are discovered almost monthly.

The data is from 2004 if you check the image.
If you add up all the claimed reserves it totals 1036 billion barrels of oil

we are current using 85 million barrels per day, for the sake of easy maths lets make that greatly increased consumption you were talking about equal to a nice average of 100 million per day and lets round the reserves down to 1000 billion.

That gives us 10,000 days supply or 27 years from your figures.
Kind of a long way off 'many centuries' isn't it?

And that is assuming that everyone is telling the truth, OPEC nations keep on upping or maintaining claimed reserves without announcing any new discoveries and without letting any external bodies audit them, by some miracle the middle east can pump 25 million barrels per day for 40 years and have more left than they started with.

You don't need to a mathematical genius to question how that works...

Sweetleaf
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18 Jun 2012, 3:32 pm

I think this collapse has already started, and I am kind of neutral I mean yes it would be horrible for many people....but then again I think it should happen.

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JWC
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18 Jun 2012, 3:46 pm

DC wrote:

JWC wrote:

DC wrote:

Please name the oil deposits so large that they are going to supply 100 million barrels a day for centuries and please tell us what the reserves are in those deposits.

http://gcaptain.com/who-has-the-oil-a-map-of-world-oil-reserves/
Keep in mind that this is 2 years old and new deposits containing billions of barrels are discovered almost monthly.

Not my figures, I just posted the map without really checking it. As anyone who is actually involved in the exploration and recovery process can tell you, the idea that we are anywhere near peak oil is laughable.

http://oilprice.com/Energy/Crude-Oil/Debunking-The-Myth-Of-Peak-Oil-Why-The-Age-Of-Cheap-Oil-Is-Far-From-Over-Part-1.html

DC
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18 Jun 2012, 4:38 pm

JWC wrote:

JWC, again with the appeals to authority?!

You posted that after a direct request for evidence of your claims, you got the date on it wrong and your claim about 'centuries of oil' were out by a factor of 10.
Those figures are 2004 and put the end of oil, all of it not just peak oil but the end of oil in 2031.
Now you are rubbishing your own evidence and going to appeals to authority as if you are the only chimp in the jungle with a brain cell.
How about you try again, with new evidence to make your 'centuries of oil at greatly increased consumption levels' stack up?

Waiting, but I guess I'm going to be waiting a long time for anything other than bluster right?

Prove your claim and then you can laugh at me all you want. :wink:

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18 Jun 2012, 4:43 pm

DC wrote:

JWC wrote:

I guess you missed the link. Here it is again:

http://oilprice.com/Energy/Crude-Oil/Debunking-The-Myth-Of-Peak-Oil-Why-The-Age-Of-Cheap-Oil-Is-Far-From-Over-Part-1.html

JWC
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18 Jun 2012, 5:02 pm

Here's more:

Quote:

A quote from The Wall Street Journal, January 2005:

The cost of oil comes down to the cost of finding, and then lifting or extracting. First, you have to decide where to dig. Exploration costs currently run under $3 per barrel in much of the Mideast, and below $7 for oil hidden deep under the ocean. But these costs have been falling, not rising, because imaging technology that lets geologists peer through miles of water and rock improves faster than supplies recede. Many lower-grade deposits require no new looking at all.

To pick just one example among many, finding costs are essentially zero for the 3.5 trillion barrels of oil that soak the clay in the Orinoco basin in Venezuela, and the Athabasca tar sands in Alberta, Canada. Yes, that’s trillion – over a century’s worth of global supply, at the current 30-billion-barrel-a-year rate of consumption.

http://www.mises.ca/posts/blog/peak-oil-is-a-myth/

DC
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18 Jun 2012, 5:26 pm

JWC wrote:

I guess you missed the link. Here it is again:

http://oilprice.com/Energy/Crude-Oil/Debunking-The-Myth-Of-Peak-Oil-Why-The-Age-Of-Cheap-Oil-Is-Far-From-Over-Part-1.html

Are you serious?

You actually want to use THAT when asked for evidence, as a seasoned industry pro, THAT is the best you can offer?!

Lets take a look at your 'evidence' then.

Quote:

But now the "experts" claim "Global Warming." It's all just a theory, like Evolution, but after so many "experts" parrot the "truth" in the media, and even colleges and universities begin teaching it as truth, then it becomes "truth,' even when at best it's a 50-50 shot. I’ve read that 63% of those surveyed were “concerned” about Global Warming. Geez, don’t people even know how to ask the right questions anymore?

Oh dear, it's not really looking like a peer reviewed scientific with sound, well reasoned arguments backed up with decades of data and research is it?

Lets examine some of the claims made

Quote:

Bakken Formation
There’s enough crude to fully fuel the American economy for 40 years straight. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!

Assuming US demand stagnates, 40 years supply would require 300 billion barrels of refined, delivered fuel.

The USGS estimate that best case scenario for 'technically recoverable oil in place' is 3-4.3 billion barrels and that is before you lop 20-30 percent off refining the horrible shale muck.

Once again, out by a factor of at least one hundred and anyone that could refine shale and sell it profitably for $16 a barrel would currently be ruling the world, it's impossible.

Want to try again?

PS if you want a more realistic analysis of Bakken, try this:

http://www.theoildrum.com/node/3868

It's from 2008 so the 111million barrels production in 50 years needs to revised up to about 150 million to match estimates for total production ever at year end 2012.

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