[Newsbot]

Title: Saudi prince calls for lower oil prices to curb development of alternatives.
Category: Business
Posted By: DanSC
Date: 2011-05-29 19:49:33

[GreenTiger]

He is right if we culd ever ween ourselves off of imported oil we would be a lot less vunerable to the changing fortunes in the ME.

[DanSC]

GreenTiger GreenTiger:

He is right if we culd ever ween ourselves off of imported oil we would be a lot less vunerable to the changing fortunes in the ME.

I did see an article that U.S. oil imports dipped below %50 of consumption. I can only imagine that trend will continue.

[Canadian_Mind]

As greedy as this guys motives are, he makes a LOT of good points.

[Lemmy]

DanSC DanSC:

I did see an article that U.S. oil imports dipped below %50 of consumption. I can only imagine that trend will continue.

I'd love to see that article. Seems impossible when the USA reached peak oil nearly 40 years ago. In 2009, the US was importing 64% of its oil. There's no way that number is anything but higher today. What trend is it you're imagining will continue?

[DanSC]

Here is the article concerning U.S. oil imports dipping below 50% of consumption.
(Just realized I had written it as %50 in earlier posts )

http://www.reuters.com/article/2011/05/ ... mesticNews

Cars, which consume quite a large share of oil products, are more efficient than ever, and as the era of cheap oil ends, increasing energy efficiency is becoming much more economically viable. Furthermore, U.S. oil production is increasing in the short-term.

[GreenTiger]

DanSC DanSC:

Here is the article concerning U.S. oil imports dipping below 50% of consumption.
(Just realized I had written it as %50 in earlier posts )

http://www.reuters.com/article/2011/05/ ... mesticNews

Cars, which consume quite a large share of oil products, are more efficient than ever, and as the era of cheap oil ends, increasing energy efficiency is becoming much more economically viable. Furthermore, U.S. oil production is increasing in the short-term.

I know this isn't realistic, but wouldn't it be nice to produce all of ur own energy so we can tell the Kaddafies, Iranians, Nigerians and the rest of those "nations" to F off.

[billypilgrim]

i tend to disregard most of what billionaires-by-birth have to say about anything.

[ShepherdsDog]

especially when their parents are likely first cousins...These Saudi 'royals' are the ultimate Beverly Hillbillies.

[Lemmy]

DanSC DanSC:

Here is the article concerning U.S. oil imports dipping below 50% of consumption.
(Just realized I had written it as %50 in earlier posts )

http://www.reuters.com/article/2011/05/ ... mesticNews

Cars, which consume quite a large share of oil products, are more efficient than ever, and as the era of cheap oil ends, increasing energy efficiency is becoming much more economically viable. Furthermore, U.S. oil production is increasing in the short-term.

Frankly I don't believe it. Nonetheless, the March US trade deficit widened to $47B, up 2.6% (the largest increase in 9 months) largely on the heels of higher oil prices. The US dollar has fallen 9.4% over that period. So, even if the US is amping up production and using more efficient cars, the real cost of imported oil is still an increasing problem.

[DanSC]

Lemmy Lemmy:

Frankly I don't believe it.

I know right? Those guys at Reuters have always been hacks

[ShepherdsDog]

they've doctored photos before....and have been caught and called on it.

[Lemmy]

DanSC DanSC:

I know right? Those guys at Reuters have always been hacks

No, it's just a common-sense thing. You don't go from importing 64% to under 50% in 2 years, especially given increasing demand yearly. It sounds like bullshit to me.

[DanSC]

Lemmy Lemmy:

No, it's just a common-sense thing. You don't go from importing 64% to under 50% in 2 years, especially given increasing demand yearly. It sounds like bullshit to me.

You'll have to take that up with the U.S. Energy Information Administration.

[martin14]

Take your figs and put them up your ass !