WORLD OIL COMMODITY

THE OBJECTIVE OF THIS BLOG IS TO MANIFEST INDIGNATION TO THE LIES AND OPTIONS TAKEN BY GALP ENERGIA PORTUGALS PETROL COMPANY.

Wednesday, July 25, 2007

Peak OiL

Peak Oil Forecasters can reach $200 a barril.The end of the Oil Age.

This is not the prophecy of some apocalyptic cult..it will happen...the geologic theory known as peak oil will happen...Once the flow crests and starts to decline -- and some geologists say it already has -- oil will no longer be able to slake the world's growing thirst for energy. The result will be the oil shock to end all oil shocks. The price of a barrel of crude will spiral to $200 -- and keep rising. To the peaksters, today's energy crunch is nothing next to the pain that will follow.
Everyone agrees we'll run out of crude eventually. Oil, after all, is a finite resource: The Earth holds only so much of it. The controversial issue is when a global peak will occur -- and what will happen then.

Today, we consume 85 million barrels of oil a day, according to the U.S. Energy Information Administration (EIA). By 2030, the world will devour 118 million barrels a day, as China and India emerge as economic superpowers.

No one knows for sure how much oil the world has. That's a big question mark because the peaksters say production will max out once half of the oil has been pumped. So far, we've extracted about 1 trillion barrels in all. In 2000, the U.S. Geological Survey estimated global resources at 3 trillion barrels, enough to push peak production out to 2037.

OPEC countries
The cartel's members -- Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela -- together sit atop 75 percent of the world's reserves and account for about 42 percent of total production, according to BP.

What the world needs is a watchdog to control the oil situation with a realistic approach...
SO WILL WE FACE THE END OF THE OIL AGE.. ARE WE MISGUIDED SOULS WHO THINK
THE SKY IS FALLING!

SERIOUS CRISES

Well we are now facing another "attack" regarding the crude market price since all pretext is used
to increase the final consumer price...Goverments should do as the Brasilian authoraties and implement a
Ethanol fuel based fuel on car and alike, in this way there would be a reduction of crude forcing these ever increasing prices to fall.

GOVERMENTS NEED TO ACT NOW ... OR THE WORLD ECONOMY WILL SHORTLY ENTER A SERIOUS CRISES...

Ethanol fuel

With todays crude prices and the world situation were everyday we see more and more crude related happenings each nation and respective
goverments should offer incentives to producers and consumers alike to expand the Ethanol usage.
Ethanol may account for 10 percent of automobile fuel within five years, compared with about 3 percent now, The governments must offer incentives for service stations to install more pumps that dispense a blend of ethanol and gasoline.Ethanol isn't practical without government incentives without subsidies to lower its cost and mandates to require its use, the economic viability of ethanol is unclear even with today's elevated gasoline prices.

Brazil, is a model of ethanol use and no longer is a net importer of crude oil. There, refineries convert sugar cane into ethanol for use in so called flexible-fuel cars, which now make up 75 percent of vehicles sold in Brazil.
Automakers promote so-called E85 as less polluting than pure gasoline. They also highlight the better performance from its higher octane content. The trade-off is that ethanol is about 25 percent less fuel-efficient than gasoline, so drivers need more ethanol to go the same distance as gasoline.