Replies to post #17781 on Zeev's Turnips Patch-No Politics (ZEEV)

[extelecom]

Zeev, I agree with you. There is a $ Value for oil where even oil in U.S. will be drilled and pumped. There has been a lot of Seizmographic research going on in my area the last few months.

ET

[jbennett53]

Zeev, could you comment about what you said in this post with what you just said? http://www.investorshub.com/boards/read_msg.asp?message_id=464559 I would also wonder if oil was at 35 dollars by goverment decree wouldn't many renewables have an incentive to go into mass production which in turn would drive down the "real" price of oil?

[swampcracker]

"distances are somewhat smaller"

Is this because they use centimeters instead of inches? (g)

Swampcracker

[Math Junkie]

Zeev, you commented that gas costs 3 to 4 times as much in Europe than the U.S. What is the cause of that?

[ormsby]

Piping in from Alberta, Canada. Minor correction, the deposits Zeev is talking about are "oilsands" not shale. In fact, there is more oil in Canadian oilsands than there is in Saudi Arabia. The problem is cost. It costs about $17 per barrel to extract the oil from the oilsands whereas it costs about $2 per barrel to get it out of the ground in Saudi Arabia. So, as Zeev pointed out it is pure ecomomics. Western economies, especially the USA, run on cheap oil. They would rather go to war in the middle east than help develop safe Canadian oil. (Fewer SUV's also might help.) I wonder how close to $17 per barrel we would get by adding the cost of war to the $2 Saudi Oil. Never mind the cost of human suffering and loss of life. We live in a perverse world.
Ormsby