Renewable Energy

Where is that link supposed to go?
It doesn't seem to be related to your title.

Link fixed, sorry.

That 95 billion barrels may be there but a severe bottleneck on supply is coming.
What would be even worse is if a big shooting war broke out in the Middle East.
(one that would cause oil prices to spike again)

Won't be around when reader tips go up. Forgive me for dumping it here, but people gotta see Pat Martin in all his foaming mouth, spittle inducing arrogance.

David Anderson and Pat Martin on the wheat board:

http://watch.ctv.ca/news/powerplay#clip484689

fwiw a dear friend of mine mentioned a late night radio (taken with a grain of salt) item to whit there are collosal, staggeringly huge deposits of oil in and around the Rockies.

it's all hush hush of course, but ......

The "Won" administration is busy crafting ways to put a stop to it....new EPA rulings...even a blue ribbon pannel charged with investigating the environmental aspects of "fracking" (thinking up an excuse to stop fracking shale formations).

Global Oil prices are weird things....
Libyan oil all went to Europe....but prospects of interrupted production affects global supply hence....spiked the price.
Canada's net import of petroleum is puny but global prices rule domestic price.
Most Persian Gulf Petroleum goes to the orient but.....

It seems Israel is sitting on an enormous oil bearing shale formation....any wonder why the AAArabs are getting twitchy?

The bottleneck at Cushing is due to the Obama administration delaying Transcanada's keystone pipeline expansion. Now instead of having relatively safe transportation of heavy crude through a pipeline, they will have crude being transported by barge down their waterways. http://www.reuters.com/article/2011/06/14/us-midwest-cushing-barges-idUSTRE75D6FP20110614

We promise not to use the money to subvert America, or bomb innocents.
Westeners for the most part like Liberty of person.
You won't evenhave to treat a koran like its a PETA exibit.

And I lift a glass to the day when we can give OPEC the almighty boot to the balls they so rightly deserve. You want that 8th century poverty, suckers?!--Well, there you go.

sp:

"Well...take one guess *who's* sitting on 95 Billion Barrels of Black Gold ..."

Drill, baby, drill!!

Please see this:

"SUMMARY: On November 20, 2007, CG and Econoff met with Dr. Sadad al-Husseini, former Executive Vice President for Exploration and Production at Saudi Aramco. Al-Husseini, who maintains close ties to Aramco executives, believes that the Saudi oil company has oversold its ability to increase production and will be unable to reach the stated goal of 12.5 million b/d of sustainable capacity by 2009. While stating that he does not subscribe to the theory of "peak oil," the former Aramco board member does believe that a global output plateau will be reached in the next 5 to 10 years and will last some 15 years, until world oil production begins to decline."

http://www.guardian.co.uk/business/2011/feb/08/oil-saudiarabia?intcmp=239

If anyone wants a good laugh along with a little insight, they should hunt through used book stores to try to find an encyclopedia set from, say, the late 1930s. Look up Oil and you will find "authoritative" statements about how, at the then current rate of consumption and with the then current projections for future demand, the world would run out of oil by the early 1950s. Some things never change. Crisis mongering being one of them.

The link to an investment company is your first clue. The links to individual companies is your next clue. Optimistic announcements like these are all about attracting investors. This has been common practise in the mining industry for centuries. Profits don't even matter any more. I can't speak for every company in the article, but I have a fairly long working relationship with EOG. Over the last few years, they've unloaded properties that have an amortized debt, and are making nothing but profit, in order to focus on unproven Balken properties. The move has made them a darling of many portfolios, even though the profit margins are nonexistent.

Should this be a big disappointment? Not really, the oil is there, though not as much as advertised. It won't be cheap to produce. Encana has just purchased a huge tract of AB land(one of the biggest sales in AB history) which involves a big shale gas project. A lot of us older guys, who planned to fade out of the oilpatch, are rethinking that decision.

As of 2009, Alberta's proven oil reserves were 171.3 Billion barrels. 99% of that is in the Tar Sands.

http://www.energy.alberta.ca/OilSands/791.asp

And they've only just started scratching the surface in Saskatchewan...

I have come to the realization lately that the post-apocalyptic dystopia popular in Hollywood have one vital element wrong. It is true that the future will feature crumbling ruins, starving people wandering the countryside, and general scarcity of resources, but it won't be because of nuclear war. It will be because bureaucrats have forbade the killing of native grass species to plant food crops, and outlawed the extraction of resources.

Many believe OPEC won't increase output because it can't,

Yeah, well, that's their personal problem or fixation with "peak oil" paranoia.

OPEC won't officially increase output because OPEC benefits from higher prices caused by the cartel restricting production.

(Individual countries will of course cheat and pump more than they're supposed to, like they always do.)