House approves anti-OPEC bill - Does the House have their head up their ass..... - Page 4 - Mercedes-Benz Forum

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post #31 of 33 (permalink) Old 05-24-2007, 08:19 AM
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Originally Posted by Jakarta Expat
The way my firend explained it to me was with that attitude it is looking after today and tomorrow. These guys are thinking 50 75 & 100 years down the road......burn our nieghbors oil first, we will pump ours once their runs out. The consensus was that until viable replacements for oil are here that oil stays in the ground for the future.
Now if they actually did this instead of paying it lip service we might be better off. But the fact remains that we have already exhausted our cheap, large reserves, and as soon as crude prices rise enough, it will make sense for the oil companies to exhaust every resource we have. They are not thinking of the future, except how to continue to pay off the governement to promote hydrogen so they can continue to exploit fossil resources. Bottom lines, quarter by quarter, that's how they work. No national interests or long term reserve preservation in mind here.

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post #32 of 33 (permalink) Old 07-30-2007, 07:23 PM
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post #33 of 33 (permalink) Old 07-30-2007, 08:39 PM
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Originally Posted by Jakarta Expat
Your statement just jogged my memory in to remembering a document and a conversation I had with a old friend a couple of years ago when he was over making the rounds and saying his goodbyes. He was a Senior VP in charge of exploration and production with a very large US Oil company. He was getting ready to deploy his golden parachute and showed me an internal memo and explained what the memo did not say, that while worldwide oil prices stayed under triple digit prices that they would continue to buy/explore 3rd world oil resources for as long as possible to ensure oil is left in Noth America as the thinking goes that sooner or later the supply of oil will be tight and restrictive and used as a power. So since a real alternative is no where near in the future then we should use as much of the rest of the worlds oil as long as possible to ensure the US still has some 50, 75 or 100 years.
Glad to hear there is such a strategy. I have been advocating buying their oil and using it over here until they have no oil, and then using ours for quite some time now. Even if we don't need it as a source of energy anymore, it will likely prove useful. In times of no oil having money won't be as useful as having oil in times of no money.

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