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320 comments on DrumBeat: February 22, 2008
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320 comments on DrumBeat: February 22, 2008
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Oh, I think they are preparing the groundwork for one last big push offshore. They know that when the lines at the gas pumps get long enough, a full tank cost triple digits, and the body bags are coming back from the middle east by the hundreds daily, drilling offshore is going to start looking a lot less objectionable to a lot more people.
The end game for this might even include underwater platforms deep offshore, serviced by submarines. This will be when oil is in the high triple digits or maybe even quadruple digits, of course, and even then they won't be able to afford much of such stuff. But it might be in the final chapter.
That's when I hope that we can make the big push towards different methods of transportation, living locations, etc. I've become spoiled walking to work every day, and I honestly never want to have a daily commute ever again that involves driving.
I hope so. If They don't start work on these projects soon, they'll likely never get done because am economic collapse or worse. It takes considerable capital and engineer to tap these resources. If the dollar tanks, we won't be able to afford to import steel, critical equipment and skilled workers necessary to for these projects. And there will be no energy available either.
Considering whats happening with credit, its probably already too late. Credit is drying up faster than acetone on a hot sunny day. Even Multinational Oil companies need access to credit to start up large scale offshore drilling projects.
techguy- The oil companies will be the one's with the money to start these projects. when the dollar tanks the prices of oil will go up as it has been. the oil companies will be rich as well an oil company.
Wait a few years after they deplete their reserves and the cash flow disapears.