Baler

So here we are using 20 million barrels a day producing eight, importing 12, and from the 12, five comes from OPEC.

The easy to extract, high quality crude was pumped first.

What does that do for entrepreneurs?

One tanker, 16o,ooo barrels by the end of next month.

...before the projections catch us?

He then swore to himself, so Mr. Hall asserts.

Commodity prices are like this.

Remember that large numbers can be deceptive.

light crude and heavy crude well, it's about 14 bucks a barrel.

Oilmen spent the energy equivalent of 1 barrel of oil to find and extract 100.

Several factors make oil unique it is energy dense.

Captain, we got a hundred barrels down there rigged to blow. and this.

When you look at the biggest user and the second largest user, we use 20 million barrels and the Chinese use 10.

And that costs on average under 18 dollars a barrel.

And they claim they have 250 billion barrels of oil, which I do not believe.

That's another 30 percent demand on oil.

Of these fuels, oil is the most critical.

McMillan TAC .50 Sniper Rifle Range Far a projectile leaving the barrel at a speed of 2,700 m s

And together they only form about 15 years of supply.

Oil. Oil. This was a big topic.

Let's put Nigeria in perspective.

40 of the world's production comes from the 500 or so giant oil fields, half billion barrel oilfields.

We use over five billion tons of coal, 30 billion plus barrels of oil that's a hundred million barrels a day.

And all those mega barrels under Detroit cost an average of 18 bucks a barrel.

And that also brought me to the fact that this poses such a risk to our society.

Here is the problem at 147 dollars a barrel, which we were in six months ago, the U.S. spent a ton of money to get oil.

Why do we care? Here's why we care...

It would be three times what the Saudis claim they have.

Since 1860, geologists have discovered over 2 trillion barrels of oil.

Middle Eastern oil prices jumped by five dollars per barrel.

We can save half the oil by using it more efficiently, at a cost of 12 dollars per saved barrel.

Now I had people in Washington last week told me, he said, The Saudis can produce the oil for five dollars a barrel.

In the nineteen sixties, six barrels of oil were found for every one that was used.

The other dived down the hole, and I heard the sound of rending cloth as Jones clutched at his skirts.

And then we do the OPEC stimulus package also known as 200 dollars a barrel.

They make it very clear to you, the Saudis do, they have to have 94 dollars a barrel to make their social commitments.

For every four barrels of oil that we consume, we only discover one.

Now, when you go through a similar analysis for every way we use oil, including buildings, industry, feedstocks and so on, you find that of the 28 million barrels a day the government says we will need in 2025, well, about eight of that can be removed by efficiency by then, with another seven still being saved as the vehicle stocks turn over, at an average cost of only 12 bucks a barrel, instead of 26 for buying the oil.

If you go forward the next 10 years and cap the price of oil at 100 dollars a barrel, you will pay 2.2 trillion.

In Europe where taxes are in place, that's the equivalent to a minus 60 dollar barrel.

So 40 years hence, when you add it all up, a far more mobile U.S. economy can use no oil.

They frequently climb up the masts to see whether they can see a whale, for the first discoverer has a ducat for his pains....

It has become known that we have never had occasion to unpack the money, and that it is still lying in our cellar.

And then we can replace the other half with a combination of advanced bio fuels and safe natural gas.