62 comments on Peak Oil Media 9-6-07
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62 comments on Peak Oil Media 9-6-07
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I've always considered CNBC to be one of the most blatantly dishonest of the cable new channels. After being force to listen to it constantly while visiting my dad, I've come to the conclusion that it even beats fox. It is like one big infomercial for buying stocks.
The really funny thing is, that if you know anything about sales and misdirection, they are not very good.
Rubin on CNBC was kind of like Jon Stewart on crossfire. They expected the guest to stick to the script, but he didn't. So they tried to make a joke out of it, but he wouldn't play ball, and kept delivering the bad news.
They were obviously dumbfounded and speechless on several occasions.
I think Bitteroldcoot's analysis is right on. Also it looks like T. Boone Pickens stumbled for a while, maybe because it's so hard to rein himself in from telling the whole story.
That is my impression also. Boone Bickens is clearly a very astute man who knows that there is no sense in throwing pearls before swine. However, his guarded comments must have unsettled a few people's complacency, which is the most one could expect given the circumstances.
I dont know what Rubin's position is on Peak Oil. Was he also carefully understating his case ? I couldnt tell from his manner, but then I'm not an american !
BTW, a personal note regarding Mr. Pickens and the HL method. At my request, he underwrote part of the cost of the Simmons/Kunstler symposium on 11/1/05, and at the symposium I gave him some of our preliminary Hubbert Linearization (HL) work. His assistant called me the next morning at 8:00 A.M. and said that Mr. Pickens wanted to know if I could come by and brief his staff on the technique. (As I have previously described, this is the event where my daughter and son-in-law turned down the chance to meet Matt Simmons, Jim Kunstler and Boone Pickens.)
Kids ;-)
Well Jeffery it took awhile but your views are catching the big wave - I hope you benefit someway.
Hi Jeffrey,
Glad you're using your connections for the benefit of humanity. I hope you can sponsor more events like the symposium. (And perhaps next time "the kids" will jump in - if not, I bet I know some people who would be happy to fill in.)
Jeff Rubin works for CIBC World Markets.
From wikipedia: "CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities."
I would speculate that he was willing to be honest about Mexico and export land, because he has financial interest in oilsand development.
He came back to tar as our savior one to many times. At least he was honest that the price of tar oil will be really high.
Expectations of a downturn are on the upside while prognostications for a recession are retreating. -stuff like that.
Then again, who would have thought just a few short years ago that MSM will start allowing the Peak Oil noise to start squeaking through to the sheeple. We were warned.
CNBC is bad,, and for me Larry Kudlow's constant spinning, cheerleading and blatant lieing is stomach turning. He will spin any story into an infomercial with a goal of pulling more peoples dollars into the stock market Ponzi scheme. I can think of no greater corporate whore than Larry Kudlow.
The big oil companies have been running ads about alternative energy (I just saw a Chevron ad about geothermal seconds ago*) and ads that obliquely touch on the subject of peak oil - without, of course, ever using that term.
I wonder what the point of those ads is. There doesn't seem to be direct economic benefit to the companies for running them. Maybe the point is to give the general public a sense that of the imminent collision of excrement and air mover. Not the details of course, just enough so when the gas lines form, or the first US city loses gas pressure in February, they'll be able to stand up before a Senate committee and point to the ads and say "we've been educating the public about this for years."
Getting back on topic, it may be that CNBC takes these ads as license to discuss the underlying facts.
*Of course the geothermal ad was followed by a Ford ad where a woman swapped her Camry which gets EPA 24/33 for one week for a Fusion that gets 20/28. Go figure.
I think the point of the ads are to help them stay in business.
During the last price spike, congress started talking about taking them over and/or taxing their profits.
I also suspect they don't want to be dragged out of their cars and lynched by an angry mob when the truth starts to make it into the MSM.
Yeah --I've been noticing the new ads by Chevron recently too. I wonder how the general public (the Peak unaware) respond to these; especially the ones about oil-for-now and clean energy in the far far off future?