The Oil Drum | President Bush Questions Saudi Ability to Raise Oil Supply

125 comments on President Bush Questions Saudi Ability to Raise Oil Supply

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Nate Hagens on January 16, 2008 - 8:26pm

Fast forward five years:

My fellow Americans. We are seemingly in an energy crisis and I am asking each of you to make a few sacrifices until we get oil production and our economy back up to the levels that proud, hardworking Americans deserve. There are those naysayers who claim that "Peak Oils" was several years ago since the world used to produce 87 million barrels per day and now is only at 79 million. We in the government know this is only due to that damn subprime mortgage crisis. Without that credit crisis, and a few infrastructure problems in Mexico, Russia and Nigeria, we would easily be producing 100 million bpd. So please carpool, grow a % of your own food in your neighborhood, turn the thermostats down, and oh yes, 2 gallons per gasoline per week limit per person. These measures are temporary until our bright minds can turn around and start increasing our oil production, which has dropped 5 years in a row because of that subprime misfortune. Good luck and may God continue to bless America and Saudi Arabia.

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shargash on January 16, 2008 - 8:48pm

You forgot to mention the part about national oil companies being inefficient, and if only they would let Exxon-Mobile-BP-Chevron-Total run their oil production, we'll easily have enough oil for 100, or 500, or 1,000 years.

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Nate Hagens on January 16, 2008 - 9:56pm

P.s. And if the inefficient national oil companies would let Exxon-BP-Chevron and others manage the oil production process, there would easily be enough oil for up to 100, 500 or even 1,000 years for Americans as well as other countries too.

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unplanner on January 17, 2008 - 4:07am

"And if only shortsighted democrats and the environmental fanatics had let us drill in ANWR and off our coastlines, the US could once again regained its energy independence..."

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Vintermann on January 17, 2008 - 4:25am

I saw that one at the intrade forum recently. One guy seriously believed that the reason oil companies aren't finding all the giant oil fields on the US continental shelf is that their lobbyists are so impotent compared to the "powerful environmental lobby"!

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PaulS on January 16, 2008 - 10:24pm

Yeah, and it matters not one jot which of the candidates gets elected, at least among the apparent leaders. Clinton's going to scare the Saudis with ethanol; Obama's going to make nice-nice and sweet-talk them; the R's are going to invent negative elasticity and unleash the market in a magical way that drops price with increasing demand; so Santa Claus will be selling gasoline at $1/gallon by Christmas 2009.

Oh, and since they all had to go through Iowa, the winner will also open portals to half a dozen more North Americas where they will have corn grown to make ethanol. Check Isaac Asimov's short story, "Living Space" for details.

The festivities which erupt once it becomes clear that the price trendline has not improved should prove interesting. Government being what it is, expect it to impose $25/gallon worth of time-wasting inconvenience in order to fail at lowering the price by 25 cents. The havoc that wreaks will serve as a convenient excuse and cover for having no means to cope with the subprime mess and all its ramifications - above all, the politically-incorrect ramification, assiduously denied since about 1970, that persons who consume stuff must eventually produce something in exchange.

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The Dude on January 17, 2008 - 8:43am

There are those naysayers who claim that "Peak Oils" was several years ago since the world used to produce 87 million barrels per day and now is only at 79 million.

You're a really sharp guy, Nate - don't tell me you think Bush will still be in office!

Or do I misunderestimate you?

"Give my chance a plan to work."

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KOP on January 18, 2008 - 1:59am

"More and more of our imports come from overseas"

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The Dude on January 17, 2008 - 8:53am

There are those naysayers who claim that "Peak Oils" was several years ago since the world used to produce 87 million barrels per day and now is only at 79 million.

You're a really sharp guy, Nate - don't tell me you think Bush will still be in office!

Or do I misunderestimate you?

"Give my chance a plan to work."

Comments can no longer be added to this story.