Yeah Bazz, but its not all gloom and doom next month either. You
have to see the whole big picture.

For instance, there is still heaps of improvement in efficiency.
The average Yank Tank used to consume around 15 miles to the gallon.
Now they are over 35 miles to the gallon, as people change the fleet
to smaller, more fuel efficient vehicles. Now we are looking at
electric cars.

Then you have a whole heap of new ways to get more oil out of old wells.
Did you notice that Chevron are about to expand refining
capacity in Singapore? Well no doubt they expect a whole lot of
condensate from their 70 billion$ investment in Gorgon and Wheatstone.
In the US, BHP are spending billions developing shale gas. Gas prices
have actually been dropping. Drilling in deeper offshore areas is
only still developing. It won't be cheap oil, but we just don't know
what is there. Then there are lots of areas where at present nobody
is drilling, due to political risk. Like Venezuela and other places.

You claim that energy expeniture of 4% causes recession in the US.
Well they spend 15% on healthcare, what does that do?

Don't forget, that for every dollar that an American or European
spends on energy, somebody else is earning it. There are good
reasons why Rolls Royce sales are up 70% in the Middle East.

It's an interesting subject that's for sure. I read a lot about it a few years back when they were predicting shortages for 2010 to 2020. Then there was the story of Gold's theory regarding oil being abiotically produced deep in the earths crust. Stories about Mexican fields replenishing themselves after years of depletion, same for some of the wells in Saudi.

I don't know when we'll run out, but I can see it becoming more expensive as more people from developing countries begin their lifestyles of having a family car like we do. If the east continue on their trend, how long before there's none for us poor Aussies down here in the middle of nowhere? Why we aren't pushing LPG more and even Natural gas with our vast resources is beyond me. We could all be running around with cleaner cars for a fraction of the price. But it would seem our illustrious leaders would rather sell it cheap to our neighbours and extort from us a carbon tax for our use of oil.

Yabby,

What about the Alberta Tar Sands and the proposed Keystone pipeline to take the oil from the icky fields to the U.S.?

http://one-blue-marble.com/alberta-tar-sands2.html

http://wikipedia.org/wiki/Keystone_Pipeline

*Why we aren't pushing LPG more and even Natural gas with our vast resources is beyond me. We could all be running around with cleaner cars for a fraction of the price*

There is nothing stopping you, Rawmustard. Most taxis run on LPG.
But of course with the next oil spike, we'll see long queues at
the LPG converters once more. Until then people will pay for liquid
convenience and then stampede like a herd of zebras.

*What about the Alberta Tar Sands and the proposed Keystone pipeline*

What about them, Poirot? If you think that people arn't going to
trash some far away environmental places in order to maintain their
cushy lifestyles, you have lots to learn about walking, talking primates.

Now you know why I live on 1200 acres, where I make the rules

As the thread wanders even further from its intended path I had another look.
At the authors first post.
Events move very fast in our world, we can not blame Hasbeen for that.
But if we let Greece take his advice, very soon all of Europe,maybe the world, would be in recession maybe Depression.
In the end every one of us, have put forward ideas like that.
Fireing off on impulse thoughts and ideas that prove to be quite wrong.
The real problem?
For all of us, is understanding that, and we will never change that.