Ferrari Mailing List: Re: Illinois speed traps

[JAshburne (JAshburne]

Britt:
 
You're mixing two issues, the impact of the massive supplies of oil in the  
U.S. that are not currently being exploited and the trade policies related to  
growth of the economies in China and India.  For the latter, the demand for  
commodities and oil will no doubt be there but there is not a lot that the U.S. 
 can do about that other than to make sure that we do everything possible on 
a  world trade front to make sure that we protect our economic interests and 
also  make sure that they do something to reduce their horrendous pollution 
problems  before they engulf the rest of the world.
 
For the latter issue, China may well surpass the U.S. economy by 2050 as  
some are predicting, but that doesn't mean that we should throw in the towel 
and  
call our suicide prevention group.  There can only be one largest economy  in 
the world but that doesn't mean that the others aren't prosperous or good  
places to live.  After all, it has been nearly a century since the  demise of 
the British Empire and most people there seem to be doing okay with  Britain's 
status as a comparatively minor player in the world's economy.
 
For the former, 18 billion barrels in ANWR, up to 50 billion barrels in oil  
shale, 250 billion tons of coal reserves that can be converted into natural 
gas  and liquid fuels plus untold reserves offshore U.S..  To paraphrase an old 
 
senator, a billion here, a billion there, pretty soon you're talking a lot of 
 energy reserves.  And it all is in a politically stable region (the U.S.)  
that reduces, if not eliminates, the leverage that the middle east has on the  
rest of the world to threaten supply disruptions and wreak economic havoc.
 
Canada is working to develop its massive oil sands deposits and they  already 
are the number 1 foreign supplier of crude oil to the U.S.  Canada  is just 
discovering potentially huge deposits of lignite (low grade coal) in  
Saskatchewan that are perfect for coal to fuel technology, so they also have 
the  
ability to cause a big shift in the supply equation.
 
So we absolutely should make a priority of exploiting the oil and coal  
reserves within and near the U.S.  It will reduce our vulnerability to  
unfriendly 
political regimes, mitigate the threat of price shocks and, by the  way, may 
actually help our balance of trade problem by keeping $700 billion in  the U.S. 
instead of shipping it to the Middle East.
 
By the way, the U.S. currently produces only about 20-25% of the oil that  we 
consume, down from 75% less than 20 years ago.  Refusing to develop our  own 
reserves only continues the transfer of money offshore and is economic  
stupidity.  Even at $120/barrel oil, this source of energy is still cheaper  
and 
more economic than current alternative energy sources (look at the ethanol  
food 
as fuel fiasco and that industry still doesn't make money, even with large  
subsidies from the U.S. government).
 
Now let's talk about nuclear power.......
 
John
 
 
 
In a message dated 8/9/2008 7:11:44 A.M. Eastern Daylight Time, Britt2Asa  
writes:

I Hate to add to this non-Ferrari talk but can't resist.
 
Why do you think the US will fall apart when oil hits 10.00 per  gallon?  
(Better hope it won't cause its going that way!)
 
Oil here in the UK is the highest in Europe (because of Govt TAX) and has  
been for a long time. The country ain't doing great but it isn't falling  apart.
 
All this talk about more drilling for more oil resulting  in lower prices is 
complete and utter bollocks. China and India ALONE  will be able to use the 
ENTIRE worlds oil output within 20 years because of  rising car use and 
economic 
growth. The game is over guys, enjoy the closing  minutes, our time in the 
sun is past...you can't fight population growth  and those of you (like me) 
that 
have been to China and Aisa know that they all  aspire to the lifestyle the 
West now has and they are going to get it (oil  willing).
 
Drill off of Florida, sell the oil to the foreign governments (who will  pay 
anything because they have all the Wests cash from 30 years of producing  crap 
for the West to buy), and sell off what little of the USA is left so  people 
can buy another pair of crappy chinos at the Gap. We (the West) have  already 
sold our futures to the Far East. Its called balance of  payments...Russia, 
Asia and the middle east have the oil and our money. Get  use to it, expect to 
pay more, but don't rape and pillage what's left of the  natural resources in 
the USA to sell it off to let the Chinese drive their  cars.
 
(And don't kid yourself thinking that any of this is going to help the  
states. We allow these oil companies to sell a limited resource anywhere (yes  
its 
called a free market Ken and yes its what America was built on but that  
doesn't make it right for us now) so its going to the people with all the  
money. 
(China and eventually India).
 
I hate high gas prices but I will pay. I don't for a second expect  drillling 
in Florida or Alaska will make any difference ever to what I pay in  either 
the US or the UK. Any extra oil will be swept up in the global markets  and 
will just help China grow FASTER. Its the population folks that is the  
problem, 
its growing faster than we are finding oil. The PRICE ISNT COMING  DOWN. Why 
destroy the small bits of the USA that haven't been dug up and sold  off just 
for a few more years of comfort living? Low prices may come back for  the short 
term but it wont stay. Those of you in a love fest with the oil  companies 
will never understand this but take my advice. Cash in all your  stocks now 
cause when the lights go out, when the price gets to high for  people in the 
West 
to pay (China will be paying using all the money WE have  been sending to them 
over the past 3 decades), you are going to need that cash  to pay for what 
ever alternative we end up using! 
 
Population growth and balance of payments folks. That's all you need to  know.
 
 
BR in the  UK
1986 328GTS (LHD 89,940km) Died August 19, 2006 Shrewsbury UK
1980  400i (RHD 74,000 miles)
Searching for the right 512TR
2003 BMW  530d
1991 Alfa Spider S4 LHD
1993 Alfa Spider S4  LHD



 



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