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Author Topic: What is the answer? Back to Topics

All-Star Author

Joined:Apr 2010
Message Posted: May 28, 2013 5:07:13 PM

While speaking at the Center for Strategic and International Studies in Washington, Saudi Arabia’s Oil Minister, Ali al-Naimi said, “Talk of energy independence fails to recognize the interconnected nature of international energy markets. I believe this talk of ending reliance is a naive a rather simplistic view."

No matter where the oil comes from—be it from Texas or Saudi Arabia, Ohio or Venezuela—it ends up in the same pool - the same supply with the same prices around the world.

We can drill all we want in our own backyard, we can go deeper below our yards than ever before, shoot water faster and harder to fracture the soil beneath our homes, but all that oil does is keep fueling the global oil market.

Which, by the way, is a market not controlled by the people and for the people, but by OPEC and for OPEC.

And, as long as OPEC controls the flow of oil, it won’t make a noticeable difference on prices at the pump.

Renewable fuels, on the other hand, are not subjected to the whims of a cartel. Produced locally, distributed locally, sold locally, renewable fuels provide an alternative to petroleum. They give consumers a choice, and a chance, to save at the pump.

Oil is not the answer, and even Saudi Arabia knows it.
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Veteran Author Illinois

Joined:May 2013
Message Posted: May 29, 2013 10:06:39 PM

"All the while providing funding to terrorist organizations around the world. "

That right there Jack, is one of my reasons I switched over on my 200 last Memorial Weekend!
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Champion Author Georgia

Joined:Oct 2004
Message Posted: May 29, 2013 10:45:31 AM

All the while providing funding to terrorist organizations around the world.
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Champion Author Houston

Joined:Mar 2011
Message Posted: May 29, 2013 9:23:44 AM

I read the whole speech and really am not reading into it what you are. You say that he is saying that oil is not the answer and even the Saudi's know it. That is not what he said at all.

What I read was a reasoned plea from a country whose primary wealth and well being is tied up in hydrocarbon sales. A position that says hydrocarbons are improving living conditions and economic growth in developing countries and the fact that there is plenty of hydrocarbons available to do that with. He also advocates that despite the growth of oil production in the US that the US will continue to have a need for Saudi Oil.

He then goes on to give what I consider lip service to the idea of renewables in the form of solar energy in his home country. If he addressed ethanol at all I missed that. He also acknowledges that the US will be a competitor in the oil and natural gas export market. His final consilitory note was to say that we must find ways to burn the hydrocarbons in a cleaner way.

Overall what I read was a political leader from a country whose primary economic driver is exporting hydrocarbons who was making his case to one of his major markets that they need to continue to buy from his country.

In thirty plus years in the energy industry is various roles from trading to contract negotiations, to operations it is a speech I have heard from hydrocarbon sellers many, many times. My product burns better, cleaner, hotter, and we are more reliable and price sensative, blah, blah, blah.

I see nothing at all that suggests, 1) a fear of loss of market share to renewables, and 2) a concern that the world (including the US) will be moving away from oil any time soon.
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Champion Author Wichita

Joined:Jun 2011
Message Posted: May 28, 2013 10:47:29 PM

Saudi Petroleum Minister transcript
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Champion Author Wichita

Joined:Jun 2011
Message Posted: May 28, 2013 10:08:12 PM

Couldn't agree more!
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Champion Author Oakland

Joined:Aug 2012
Message Posted: May 28, 2013 9:25:42 PM

Hello blckwolf
Very Well Said -

The Oil industry is self sustaining, it is here and there is plenty of oil.
There is also coal to liguids and gas. And The U.S. has about 50% of the worlds coal reserves. That is why coal has to be demonized by bureaucrats..

No one is arguing against clean burning fuels and pollution and environmental discipline and responsibility. this the role the government can play by policing with proper standards. The government cannot make good economic decisions in most cases. It is loaded with dead wood and bureaucracy that needs to be cut out.

Corn or Wheat Ethanol is not self sustainable and they; know it. They have removed the $.52 subsidy when oil is above $100/ barrel
The subsidy removal was crafted such that it automatically returns when oil drops below $90/ barrel.
Thus the subsidy that the ethanol producers pushed for will maintain automatically high gas prices.

IMHO The fuel source that would really work is nuclear, both fission and fusion. We shouldn't be phasing them out.
It is transported by wire. Electricity, for transportation you make the perfect transportation fuel that no one can technically oppose. hydrogen fuel cell technology. Any fuel source can be used without major new infrastructure development. It merely requires commitment to electric with a clean economic viable model and then growing it. Rightaways are already present grow them.

Fusion another story, But the magnetic confinement program, was stopped when it reached breakeven, So we know it works.
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All-Star Author North Carolina

Joined:Nov 2008
Message Posted: May 28, 2013 8:20:25 PM

Right now, the answer IS oil. In OUR backyard - not oil from foreign countries. To date, "RENEWABLE" energy 1) isn't truly renewable - because once you USE that energy, it doesn't come back - you simply get more of the same (i.e: so long the sun puts out light, we can keep taking it and converting it's energy into electricity (Solar energy), but the light that we just USED is no longer there, and it doesn't come back - you just use new light produced about 8 minutes ago from the sun. Same situation with wind, or ethanol, or tidal energy too.) 2) TO DATE, renewable energy costs more to produce than oil. NO matter what. Now, I'll admit, there have been promising developments in solar cell efficiency, but it will still be a while (about a decade or more) before we even see the real benefits of solar energy, and it will still cost a heck of a lot of money to produce those solar cells. 3) What exactly do you think Saudi Arabia's Oil minister wants??? Do you think for one second he wants us, the U.S.A., to tell them "get bent" and start producing our own oil? You MUST look at the objective behind what someone says (and when it comes to international relations of any sort, an objective). The final advantage to producing our own oil, is that WE would control the price, WE would be exporting, not importing, and WE would have our own sheiks. So, the answer IS oil. Properly controlled, properly extracted, with judicious and common sense application of environmental protection that prevents accidents and deals with them appropriately, rather than hinders companies to the point that they can no longer afford to drill.
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Champion Author Oakland

Joined:Aug 2012
Message Posted: May 28, 2013 7:22:01 PM

You asked what is the answer?
Just curious, what was the question?
Whatever the question is you seem to be suggesting that Oil is not the answer.
Well it certainly isn't ethanol.
VSE went bankrupt and got buried under a class action law suit for all their false claims regarding ethanol.
The Rise and Fall of VeraSun, VSC
At its peak, VeraSun Energy Corp. was the largest ethanol producer in the U.S.,

How many PEIX stockholders are happy with their investment. The west cosat ethanol producer.
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