It seems that you're using an outdated browser. Some things may not work as they should (or don't work at all).
We suggest you upgrade newer and better browser like: Chrome, Firefox, Internet Explorer or Opera

×
avatar
paladin181: No, The prices are falling to put the companies, who are mining for oil using a process called fracking that is destructive to the earth, out of business. That's how it was explained to me at least.
this is not happening only in the US, my good sir, this is being implemented worldwide ... if the restrictions are removed it will be an unimaginable ecological disaster... :(

avatar
Emob78: No, the people of Texas are not terrorists. But they are governed by terrorists. But since they voted for the assholes, I guess that makes them accomplices after the fact.
I think maybe they have no choice too, in my country no matter who we vote the most of them are the same garbage. :/
avatar
HereForTheBeer: Once fracking is no longer adequate to the task... what comes after that?
liquid shit methane farms a la thunderdome.
avatar
HereForTheBeer: Once fracking is no longer adequate to the task... what comes after that?
the awful mess that is liquid coal.
avatar
paladin181: No, The prices are falling to put the companies, who are mining for oil using a process called fracking that is destructive to the earth, out of business. That's how it was explained to me at least.
I always laugh at people who claim that human activity is destructive to the earth. The earth has been around for over 4 billion years and has survived meteorites, asteroids, comets, solar flares, and its own activities like earthquakes and continental shifts.

Fracking is not going to destroy a 4.5 billion year old rock that floats around an even older burning ball of gas and plasma.
avatar
infinite9: ...
Ouch, that's one way to say that humans are a insignificant spec in the universe's history & influence...
avatar
infinite9: ...
avatar
rtcvb32: Ouch, that's one way to say that humans are a insignificant spec in the universe's history & influence...
Sometimes it gets translated like that but it really is about perspective. Plus, there's always space travel so the story of humanity is still ongoing.
avatar
apehater: so sooner or later (probably sooner) reserves are empty and then they need saudis again?
Your figure of 90% of the world's oil being in Saudi Arabia is wrong.

Just like in the 1960s, scientists were wrong when they said the world had maybe 20 years of oil left.

There's more oil than we knew of, in more places, and we have more and better ways of getting it.

After knowing this, then read everyone else's comments, which explain the current price situation.

Cheers.
From what I know the reason of falling oil prices is similar as it was in 80's. USA cooperating with Saudi Arabia, is trying to stop Russia from starting a large-scale war in Europe (they have already started a war against Ukraine). Russian economy is based on exporting oil and other natural resources Russia planed their budget assuming price $100 for oil. Now the oil is for about $50. If this price will stay for a long time their economy will collapse.
avatar
infinite9: I always laugh at people who claim that human activity is destructive to the earth. The earth has been around for over 4 billion years and has survived meteorites, asteroids, comets, solar flares, and its own activities like earthquakes and continental shifts.
FINALLY someone else.

avatar
rtcvb32: Ouch, that's one way to say that humans are a insignificant spec in the universe's history & influence...
Made me think about Call of Cthulhu.
Post edited January 19, 2015 by Ghostbreed