Interesting Fuel/Oil Article from Pascoe

[dougl33]

I hadn't been to Pascoe's site for some time as it didn't appear he'd been adding new articles, so I cruised by it today.

I don't enough about the topic to comment on it other than to say that it seems logical. Please note, this article was written back in Sept of 2006:

http://www.yachtsurvey.com/future_of_fuel_prices.htm

 

[MikeP]

I think Pascoe is one of the foremost experts on boats and read his articles/own all his books. But IMO, since he has no professional credentials on this subject, he's just another guy with an opinion which is no more valuable or insightful than yours or mine.

 

[dougl33]

I agree, but his opinion seems to be backed up by a lot more than what I could bring to the table without doing a boatload of research.

 

[rhprop]

Every fact and figure that Pascoe quotes is easily retrievable from reliable sources with an hour or so of research on the internet. Just start by Googling " world oil reserves " and " U.S. oil imports.

The fact is that if the State Dept. approves the pipeline from Alberta to Texas, the U.S. could be almost completely free from reliance on Middle Eastern oil. The largest sources of imports now are Canada, Mexico, Saudi Arabia, and Venezuela in that order and the additional Canadian production that would be enabled by the pipeline would almost supplant the Saudi production exported to the U.S.

As Pascoe pointed out, the U.S. has huge reserves but unfortunately they are just that; reserves.

The prices now are being driven by the traders not demand. Tankers are sitting off the coast now just as they were during the last spike. When there is no more storage space the price will drop again. There are a finite number of tankers and storage tanks and when they are full the price will drop as long as demand does not spike.

 

[rhprop]

Also Google " Alberta pipeline "

 

[34Hatt]

So are you thinking that Pascoe is just another Google Expurt

 

[rhprop]

So are you thinking that Pascoe is just another Google Expurt

No. He wrote that article in 2006 and the amount of info on Google was much less than now and he probably had to do a lot more actual foot work to get the info. But the fact is that in 2011 the same or updated info is available from simple Google searches, or would you rather take the biased view of the media that the U.S. is dependent on Middle Eastern oil, we went to war in Iraq because of oil, we are running out of oil, and all the other myths perpetuated on the public. Ask the average person and most would never believe that Canada is the top oil exporter to the U.S.

 

[rsmith]

Master: Me order! Me Master! Me run Bartertown!
Max: Sure, that's why you live in s**t!
Master: Not s**t! Energy!
Max: Call it what you like. It still smells like s**t to me!

 

[MikeP]

"Ask the average person and most would never believe that Canada is the top oil exporter to the U.S."

Or that we EXPORT about the same amount of US-produced oil per day that we IMPORT per day from Canada. I'm sure there's some logic there somewhere but it's way over my pay grade.

 

[rhprop]

"Ask the average person and most would never believe that Canada is the top oil exporter to the U.S."

Or that we EXPORT about the same amount of US-produced oil per day that we IMPORT per day from Canada. I'm sure there's some logic there somewhere but it's way over my pay grade.

Some Alaskan crude is exported to Canada for refining because it is closer. Most exports are refined products to Mexico and South America with some back to the Canadian east coast.
Remember most of the subsidized 20 cent per gal. gasoline sold in Venezuela comes from the U.S. Citgo, which has 3 large refineries in the U.S., and is a large U.S. retail marketer, is owned by Hugo Chavez and the Venezuela government.( strange bedfellows indeed )