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• bean
  April 28th, 2008 at 6:05 pm

  ctrl + f “inflation”

  *sigh*

• Video Game Dork
  April 28th, 2008 at 6:34 pm

  you know, just by posting this article, they’ve made it so the oil companies will think it’s ok to hike up the prices now.

• Lore
  April 28th, 2008 at 6:48 pm

  So do you think that they’ll create more fuel efficient cars now or focus on hybrids? Or is it all about profit?

• Art
  April 28th, 2008 at 7:14 pm

  “…. up to 400 billion barrels of light, sweet crude oil for America’s future can be pumped from under Manitoba and North Dakota. That’s more oil than Saudi Arabia and Russia put together.”

  “This high-quality oil isn’t controlled by Moslem zealots, or hidden under a federal wildlife refuge. Moreover, it can now be cost-effectively retrieved with computer-directed horizontal oil wells, probably at $20 to $40 per barrel.”

  http://www.canadafreepress.com/index.php/article/2561

  “Three oil companies have found 15 billion barrels of oil 28,000 feet under the Gulf of Mexico—boosting U.S. proven reserves 50 percent.”

  “The U.S. could now start harvesting a “super giant” gas field—500 trillion cubic feet—from the Marcellus Shale under the Appalachian Mountains. Again, it would require the horizontal drilling and rock fracturing.”

  “Brazil has discovered the third largest oil field in history, the Carioca, 170 miles offshore under 6,000 feet of water. The Carioca ranks behind only the Saudi and Kuwait fields discovered 60 years ago.”

  “The USGS agrees the world has harvested only about one-third of the oil we’ve discovered, not to mention six trillion barrels of tar sands and huge amounts of oil shale already found but not exploited.”

  “Even in North America, we are not running out of fuels. Between the Bakken, the Marcellus Shale, Alberta’s tar sands, and two centuries worth of coal, North America is rich in fossil fuels. What we now face is our own decision not to use them.”

  http://www.canadafreepress.com/index.php/article/2752

  “Most coal today is used for electricity but the governor’s plan is to turn Montana’s billions of tons of untapped coal into a liquid diesel fuel for our cars.”

  “Schweitzer wants to take coal that’s been pressurized into a gas, and then use something called the Fischer-Tropsch process to convert that gas into a clean diesel fuel, similar to what is made at a demonstration plant in Oklahoma.”

  “We can produce this fuel for about $1 a gallon… ,” he said.”

  http://www.cbsnews.com/stories/2006/02/24/60minutes/main1343604.shtml

  There is no current or future shortage of oil, only a shortage of political leadership. Ultimately, you will get the energy prices you vote for.

• CheeseDuck
  April 28th, 2008 at 7:45 pm

  Well I’ll be darned, Art! Shame a bunch of these oil fields are shale and therefore much harder to extract than oil wells!

• Ali S.
  April 28th, 2008 at 8:20 pm

  @ Art

  Oh the irony. The tar sands and shales use more oil like CheeseDuck pointed out than they produce. It has to be the silliest thing I’ve seen.

  If anything this has fueled my support for public transport and for my decision to buy a Vespa or a Scooter for my travels around the city.

• andrew
  April 28th, 2008 at 9:07 pm

  Um. In the title don’t you mean gas may hit $10 a gallon? Oil hitting (dropping to) $10 a gallon would be quite a surprise.

  Art. If only it were that simple. Tar sands and shale not only require a massive energy investment to harvest, but in the process of harvesting them they put out a huge amount of pollution. We start to harvest those fields you’re talking about to any large extent and things would get a lot nastier fast.

• pogopogo
  April 28th, 2008 at 9:25 pm

  Actually, a barrel of oil is 42 US gallons. If oil is $10 per gallon then oil would be $420 per barrel instead of its current price of $118 per barrel.

• Alannah
  April 28th, 2008 at 10:38 pm

  I hate thinking about this crap. There is literally nothing we, as citizens, can do about it but blue sky and worry, worry, worry. My husband had to start working from home three days a week just to make have a job cost effective. What the hell happens when he can’t even go in those two days?

• Barbwire
  April 28th, 2008 at 10:53 pm

  Oil is a finite resource. We have to break our addiction and become a whole lot more realistic. Let’s start by taxing the gas wasters so they pay something approaching their fair share of usage and pollution.

• Alan
  April 28th, 2008 at 11:14 pm

  Total world extractable oil resources in 2005:

  1.227 trillion barrels

  Total world extractable oil resources in 2008:

  1.331 trillion barrels

  Gasoline is already nearly $10 a barrel in most of Europe.

  The Stone Age didn’t end because we ran out of stones, the Bronze Age didn’t end because we ran out of bronze. The Oil Age won’t come to an end because we run out of oil.

• Art
  April 28th, 2008 at 11:35 pm

  Oh, the stupidity. The cost of producing oil from tar sands is approx. 25-30 dollars a barrel and getting cheaper.

  The billions of barrels of oil in the Bakken oil fields under North Dakota can be extracted using high tech horizontal drilling techniques for between 40-45 dollars a barrel. As the technology improves we will have access to more oil at cheaper prices.

  Coal can be liquified for between 35-40 dollars a barrel. The process yields a clean-burning, high-performing fuel that requires no engine modifications.

  Once we demonstrate the will to use our own resources, we will have essentially set a competitive price cap on OPEC’s production. The international price of oil will drop to the competitive price.

• Lasse
  April 29th, 2008 at 12:08 am

  Well, we have to let fossile fuels go at some point. We might as well start now. Here comes Tesla Roadster. Vroooom (They have to put a sound effect in for that).

• K!P
  April 29th, 2008 at 2:01 am

  a barrel of oil does not equal a barrel of gasoline - there is this proces called refining going on…

  and for the americans: most of europe already pays close or more that 10 dollar a gallon.

• Pol x
  April 29th, 2008 at 2:47 am

  biofuel from algae.

  It makes petrol, diesel,or aviation fuel, fixes CO2, can be made using non potable water, is a sealed system, returns up to 100,000 litres per acre per year.

  7% of the non atrable land in texas turned over to algae could run the entire US fleet of cars.

  And if you guys were willing to make your cars even REMOTELY fuel efficient, either by engine improvements or weight reduction, preferably both, you could be net exporters of fuel.

  There’s nothing wrong with the Internal combustion engine, just the fuel.

  Also cut the saudis off at the knees and send them back into the desert with nothing, there to rant and rave about their crazy brand of Islam.

  All of the Worlds aviation could be handled by a plot of land the size of Belgium.

  The problem is not oil reserves, the problem is CO2 build up.

  Besides, fossil fuels are to valuable in the production of complex plastics to waste on running cars.

• Shadowfirebird
  April 29th, 2008 at 3:17 am

  I live in the UK, and I pay £1.07 / litre. I make that $9.68 a gallon. *Now*.

  Think of yourselves as lucky, folks. You get cheap gas over there.

• DanO
  April 29th, 2008 at 6:16 am

  I agree Art and Pol x, let’s sit on our thumbs and wait for technology to improve to catch up to our consumption (consumption that is growing exponentially). Then let’s wait for the governments of the world to realize how to use that technology to keep the oil flowing and keep our homes warm, our SUVs filled and our crops fertilized. I have a great bridge in Brooklyn for sale too.

• ahw
  April 29th, 2008 at 8:24 am

  I agree with Alannah - this situation is so frustrating as an individual - its all being decided with or without us.

  Biofuel from algae is a brilliant option, as is biofuel made from recycled vegetable oil - all that grease from all those fast food joints could go to good use.

  The first step is for us to accept that no resource is unlimited - more reuse, more recylcling, more walking, more sharing resources. Why is it so frickin expensive to buy a train ticket in America!? And why do all our cars get such measly gas mileage compared to those in other parts of the world….

• Skipweasel
  April 29th, 2008 at 9:45 am

  Diesel is already near enough $10/gallon in the UK. Then again, that’s for one of our proper man-sized UK gallons, not these skimpy “gallon-lite” things you Americans have!

• Chris
  April 29th, 2008 at 11:44 am

  Get on your bikes now, before they get more costly!

• the lord
  April 29th, 2008 at 12:13 pm

  i SAY WE MAKE A RIDE UR BIKE TO WORK DAY MAKE IT YEAR NO CARS EVERYONE JUST RIDE YOUR BIKES
  I LIVE 10 MINUTES AWAY FROM MY WORK I DONT RIDE A BIKE BUT I THINK I AM FROM NOW ON

  THE ONLY FLAW I SEE IS STUPID PEOPLE THAT DRIVE THEIR CARS LIKE MAINIACS BUT THEN AGAIN SHIT HAPPENS

  THAT AND A LOT OF AMERICANS ARE REALLY FAT AND OUT OF SHAPE HENS BIGGER CARS FOR THEIR BIGGER BUTS :p

• Scooter
  April 29th, 2008 at 3:19 pm

  when gas is ten dollars a gallon it will take me 10 dollars to fill up my Scooter and then i can drive another +100 miles before having to fill up again.

  Got MPGs? Suckers!

• OddNumber
  April 29th, 2008 at 4:33 pm

  This is what you get when you trade commodities such as oil, coupled with the decline of the US dollar. I guess I better dust off my Huffy.

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