[extropy-chat] Swiss American rep on petroleum

[Al Brooks]

Last night on-radio a guy from the Swiss American trading corp quoted the Wall Street Journal in saying the price of oil might spike at $105 a barrel, but also said oil is more plentiful than realized, oil is isn't just fossil fuel, he went on to say, it is manufactured by pressures in the earth's crust, and forced outward. More dubiously a caller from a family of oilmen going back generations said he'd been hearing since he was five at the dinner table that oilmen sometimes drill down into the crust almost to where they know an oil reservoir is located then hold onto the rights to the land until the price of a barrel goes up. Later they drill into the reservoir to get a better profit than they would have if they hadn't waited. Undoubtedly this occurs but not too frequently. Anyway for what it's worth such wouldn't be illegal even if it were in fact widespread. 
The guest discussed the Kyoto Protocols, said they would cost America hundreds of billions in the short run, and up to 5 trillion in the long run, without being scientifically & economically demonstrated. Everyone on the show agreed oil policy must be discussed openly, not made in secret, a none too subtle slap at the Bush administration.
The guest discussed global warming, said of course human-derived emissions aren't the only cause and also of course there are warming & cooling cycles produced by nature. Everyone knows that; but he went on to say ice melts at the poles & glaciers yet many ice regions do not melt and some are growing.
 


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