Take 27 minutes and listen to this guy.

 

Watch "Jeff Rubin on Oil and the End of Globalization [FULL]" Video at OPEC

Another issue is our spare capacity. Even if we find all the oil we need, we cannot increase capacity enough to significantly lower gas prices. Add to that a portion of our capacity is older we are subject to periodic disruptions that drive prices up temporarily. The US has only added about 7700 barrels of capacity in the last 20 years, and no significant refineries have been built since the late 70's. Doesn't matter how much oil we have if we cant refine it.

First, there has been a bit of outrage at different points when gas prices were up during Obama's presidency.

 

Secondly, there is that little thing known as complacency, too.

 

Complacency is a powerful tool.

This information came straight out of the presentation I saw on Friday. I won't be able to change you mind no matter what I do.

 

Tell me about the presentation. Who put it on? Did your employer pay for it?

Tell me about the presentation. Who put it on? Did your employer pay for it?

 

My employer did not pay for it. It was a presentation by someone who has spent weeks in the Williston Basin. I'm not going to put his actually name on here because I'm not sure that is appropiate.

 

The presentation centered around our economy and the ability of the USA to produce/manufacture in an efficient manner.

His sources were BP, USGS, Task Force on Strategic Unconventional Fuels, US Dept of Material Management Services.

My employer did not pay for it. It was a presentation by someone who has spent weeks in the Williston Basin. I'm not going to put his actually name on here because I'm not sure that is appropiate.

 

The presentation centered around our economy and the ability of the USA to produce/manufacture in an efficient manner.

 

Does the guy give these presentations for his job?

His sources were BP, USGS, Task Force on Strategic Unconventional Fuels, US Dept of Material Management Services.

 

USGS says "3 to 4.3B."

 

USGS Release: 3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate— (4/10/2008 2:25:36 PM)

 

I think your guy had bad info.

USGS says "3 to 4.3B."

 

USGS Release: 3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate— (4/10/2008 2:25:36 PM)

 

I think your guy had bad info.

 

Clyde I don't know you personally so please don't be offended by this but I will take his info over anything you find on the internet. It would not be in his best interest to put out bad information nor is he acting alone. This guy is a world renowned economist who has received numerous awards for his work he doesn't make a habit of using bad info nor relying on the internet as his primary source of information.

Clyde I don't know you personally so please don't be offended by this but I will take his info over anything you find on the internet. It would not be in his best interest to put out bad information nor is he acting alone. This guy is a world renowned economist who has received numerous awards for his work he doesn't make a habit of using bad info nor relying on the internet as his primary source of information.

 

So let me get this straight.

 

You say his source is USGS.

 

I then provide a statement FROM USGS stating their estimate of a max of 4.3B.

 

You trust YOUR guy over the statement made by USGS?

 

Interesting.

Clyde I don't know you personally so please don't be offended by this but I will take his info over anything you find on the internet. It would not be in his best interest to put out bad information nor is he acting alone. This guy is a world renowned economist who has received numerous awards for his work he doesn't make a habit of using bad info nor relying on the internet as his primary source of information.

Link?

Clyde I don't know you personally so please don't be offended by this but I will take his info over anything you find on the internet. It would not be in his best interest to put out bad information nor is he acting alone. This guy is a world renowned economist who has received numerous awards for his work he doesn't make a habit of using bad info nor relying on the internet as his primary source of information.

 

If the guy is a "world renowned economist" why are you worried about protecting him?

There is enough oil in North Dakota an Montana to make the US energy independent within 5 years. But for some reason we are not tapping it to the extent we could. To me that's criminal.

 

I really beleive we are saving our oil for when the other countries run out and we will have our own to use.

 

But yeah, we go to Mars and refuse to let car companies make mini vans that get 50 MPG

If the guy is a "world renowned economist" why are you worried about protecting him?

 

Clyde, honestly I'm tired of arguing with you about this, you either believe it or you don't and I don't have the time to deal with it. You picked one source out of four and found an article on the always reliable internet. I guess time will tell.

USGS explains why the myth mentioned to Corleone by the economist is based on bad info.

 

Warning. This is an internet link.

 

U.S. Says 400-Billion Barrel Bakken Oil Field a 'Myth'