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36 comments on Big Oil, Big Bucks

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step back on October 31, 2005 - 11:08am Permalink | Subthread | Parent | Comments top
get some for yourself by investing in their stock...it's the American way.

If you develop an equity position in oil,
you become one of "them".

Now you have a strong "profit motive" to NOT warn the world of peak oil and to not encourage others to switch to renewable energies.

Now you want the ignorant masses to continue to buy SUV guzzlers and to continue the suburban sprawl.

In buying oil stock -- you become one of "them".

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GreyZone on October 31, 2005 - 11:23am Permalink | Subthread | Parent | Comments top
Really? Tell that to Dr. Deffeyes, who freely admits investing in oil companies (and many other things).

Others here in these forums have invested in oil companies as well as work for oil companies yet they freely and openly talk about peak oil. Dr. M. King Hubbert worked for oil companies for years, or is that fact so easily forgotten? A.M. Samsam Bakhtiari currently works for the Iranian National Oil Company.

I think your logic, such as it is, fails to hold water (or oil).

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Gloomy on October 31, 2005 - 11:30am Permalink | Subthread | Parent | Comments top
Not quite agreed.

Maybe the short-term interest of oil companies is in oil scarcity but I see them soon to be the first to ring the bell - and to invest their ever-increasing profits in renewables. They know best what the situation is and know that possibly they will be out of business in 10-15 years maybe less. It is their vital interest to stay alive - at some point long term security becomes more important than short-term profits. It is that the critical mass for the switch from short-term to long-term has not been gathered yet.

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Ammond on October 31, 2005 - 11:42am Permalink | Subthread | Parent | Comments top
RE: Buy Big Oil stock and becoming one of them...

That's sorta' what Jay Hanson has been advocating. Deplete as fast as possible to help minimize the human impact on the carrying capacity of the planet.

The problem is NOT oil demand or oil supplies, but too many people demanding too much.

Faster consumption of all resources brings us to a fast, hard population crash whereas slower consumption brings on a long, slow population crash which seriously damages the carrying capacity of the planet.

I don't know. Sometimes the best answer is one that we humans would NOT prefer. For the long term the prognosis is not good. Not with 6-7 plus billion people wanting more and more.

Ammond

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Bubba on October 31, 2005 - 10:32pm Permalink | Subthread | Parent | Comments top
Let's see.  Matt Simmons, T. Boone Pickens, Ken Deffeyes, and to a lesser degree myself, all have been tried to write about and warn the world of Peak Oil.  On the other hand, we have all tried to tell anyone who is listening that money is going to flow into companies who either own reserves of energy or technology to efficiently utilize energy.  Conversely money is going to flow away from companies who rely on cheap oil.  If you want to use that information as investment advice, more power to you.  It certainly has helped me.
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