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Pud

Click Your Heels and Say It Three Times: "There Will Always Be Oil"

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by
Pud
, 09-27-2011 at 04:10 AM (375 Views)
Have you been wondering where the next big bubble is going to pop up?

Well, The Wall Street Journal has just trotted out an old energy industry whore to let us in on the secret: domestic "liquids" production. Sounds like we need to be convinced to dump all those dollars sitting on the sidelines (small investors are fleeing the stock market in droves, at the moment) into -- you guessed it: energy stocks.

You see, every time the economy takes a dump, like oh, right now -- energy companies take a disproportionately large hit for what I hope are obvious reasons. But there's a problem: all those domestic liquid "plays" in North Dakota, Oklahoma, and Texas are exceedingly expensive to develop. So, they need more capital than ever in the face of plummeting market capitalizations.

Hmmm. Gee, you don't suppose they'd roll out an old whore to tell us how wonderful life is going to be if we just give them all our money to go get the oil those nasty environmentalists have been selfishly keeping locked up all these years. Would they?

You don't suppose a geophysicist with years of experience in the oil industry including the Gulf of Mexico, the North Sea and China would have something to say about all this? As it turns out, he does.

Read it and weep. This makes me very suspicious of everything related to energy at the moment. Oh, I'm sure we'll see "investments" touted as a "sure thing" all over the air waves in the near future. Color me skeptical.

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Comments

  1. CrAnIuM's Avatar
    Yergin's loud proclamation that peak oil is simply an environmentalist's trumpet playing "crazy train" is what pretty much had me shaking my head through the entire article.

    How can anyone claim that supply will not peak at some point if not already? It boggles my mind that many folks with prestigious degrees and letters of import following their name can not or will not grasp the obvious.

    If dumb old Gary can see it why not they?


    I think you have it right Pud, Money and the bastards that have more of it than god and Elvis combined want even more to reshape the globe in their image.

    Sooner or later they'll squeeze the egg in the wrong spot and ... pop. We're all in the same row boat then.
  2. Pud's Avatar
    I think even you, Cranium, would be shocked at the credulity that exists in the general population right now. Keep in mind that it's not in anyone's best interest to teach people to think.

    1. Parents would rather have drones that do as they're told and/or accept carte blanche the mysticism they like to guzzle every Sunday morning.

    2. Teachers/school systems would rather have legions of pupils quietly memorizing reams of data so it can be reliably repeated on standardized tests.

    3. Employers want their minions to be smart enough to accomplish the task at hand with a minimum of fuss, but not so smart as to question whether it's such a good idea to be doing so in the first place.

    I could go on and on, but you get the point. Of course there are exceptions. But that fact alone proves the rule. There are few institutional or cultural rewards for thinking and analyzing.

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