Oil price rises on global economy hopes

MrRee_2

Iran will get a serious kicking if it ever attempts to close off the wests oil supply .......

klemutot

Asheron wrote: »

When they attack Iran you will see the price double at the pumps....

which is a good reason for securing Iran's oil for ourselves.

RenovationMan

nearlynew wrote: »

Generating electricity will be the least of our problems in the future.

Portable, safe, cheap liquid/gas fuel is what we need and on that score nothing yet comes close to matching fossil fuels.

Hydrogen does, it could be created in Conrad's Sahara solar power stations and, with this process, or something similar, stored safely: http://in.reuters.com/video/2011/03/30/hydrogen-lets-drivers-step-on-the-gas?videoId=199371578

"Hydrogen has been talked about for many years as an alternative fuel for transport. When hydrogen is used in an existing internal combustion engine vehicle or a fuel cell vehicle, there are no carbon emissions. However, the barrier to entry so far has been the massive investment required in a hydrogen refilling infrastructure, and the importance of making hydrogen in a low-carbon way. Further, it is clear that hydrogen would be only be adopted if it was no more dangerous or difficult to use than regular gasoline or diesel, and would cost less at the pumps.

In 2007 work began at the prestigious STFC Rutherford Appleton Laboratory RAL near Oxford, UK to develop new hydrogen fuels. The patented technology uses a technique called coaxial electrospinning to safely encapsulate complex hydrides using nanostructuring techniques. The result was a hydrogen fuel that could be handled quite safely in the open air and pumped like a fluid. In early 2011 Cella Energy Ltd was formed as a spin-out company from RAL with the exclusive rights to the IP. Funding has been provided by Thomas Swan & Co. Ltd, a UK chemical company established in 1926."

The technology to help ourselves already exists, but while we still have oceans of oil it's still not economically viable to use it. Yet.

Really2

nearlynew wrote: »

Generating electricity will be the least of our problems in the future.

Portable, safe, cheap liquid/gas fuel is what we need and on that score nothing yet comes close to matching fossil fuels.

Can't you use hydrogen if you have cheap electricity?
We have gone over the storage aspect in the past, although you need a larger tank to store hydrogen due to the pressure you need a lot less fuel, I think about 7X less.

Edit just seen RM post, totally agree.

Also the other point is we can still use battery power which is still progressing rapidly, may not give the vast running range of petrol at the moment but even the most basic of electric cars cover the average daily commute easily which is around 9 miles.

Edit 2:
Here is the clarity Spec
http://automobiles.honda.com/fcx-clarity/specifications.aspx
Around 240 miles on less than 4KG of Hydrogen.

AD9898_2

RenovationMan wrote: »

Hydrogen does, it could be created in Conrad's Sahara solar power stations and, with this process, or something similar, stored safely: http://in.reuters.com/video/2011/03/30/hydrogen-lets-drivers-step-on-the-gas?videoId=199371578

"Hydrogen has been talked about for many years as an alternative fuel for transport. When hydrogen is used in an existing internal combustion engine vehicle or a fuel cell vehicle, there are no carbon emissions. However, the barrier to entry so far has been the massive investment required in a hydrogen refilling infrastructure, and the importance of making hydrogen in a low-carbon way. Further, it is clear that hydrogen would be only be adopted if it was no more dangerous or difficult to use than regular gasoline or diesel, and would cost less at the pumps.

In 2007 work began at the prestigious STFC Rutherford Appleton Laboratory RAL near Oxford, UK to develop new hydrogen fuels. The patented technology uses a technique called coaxial electrospinning to safely encapsulate complex hydrides using nanostructuring techniques. The result was a hydrogen fuel that could be handled quite safely in the open air and pumped like a fluid. In early 2011 Cella Energy Ltd was formed as a spin-out company from RAL with the exclusive rights to the IP. Funding has been provided by Thomas Swan & Co. Ltd, a UK chemical company established in 1926."

The technology to help ourselves already exists, but while we still have oceans of oil it's still not economically viable to use it. Yet.

The global economy is teetering on the verge, mainly due to the fact that the required commodity, cheap oil is pretty much gone, hence the inability for the middle east to ramp up spare capacity when the oil price rises due to demand.

I agree we have quite a bit of oil left... oceans is pushing it though... but it's cheap oil that greases the world's economies, the main reason we've gone nowhere in the last 4 years.

Imagine this...peak discovery was in 1970 (fact).... since the early 2000's we've been using 3 barrels for every 1 discovered. The problem now is becoming acute, hence our situation. I admit technology going forward may help.... but nothing and I mean nothing that is available or on the horizon that we currently have knowledge on will scale in the time we have left with our current energy supplies.

Reduce the world's population by 5 billion and we would have very little problem, increase it from it's current number, as we are doing and catastrophe awaits. The only variable is when ?? In actual fact it's already started, the effects are only minor at this time.... another decade or so and we will certainly start to see what the human race is made of.

RenovationMan

AD9898 wrote: »

Imagine this...peak discovery was in 1970 (fact)....

That's pretty meaningless though, it's just like saying peak discovery of new territory's was reached in the 18th century. That doesn't mean we'll run out of land any time soon.

The more salient points are the size of the discovery and how long that discovery will last for. There is plenty of oil remaining and other energy sources such as shale gas, solar, etc. are coming on-line to pick up the slack.

As oil gets more expensive we are seeing an increase in the use of these alternate energy sources and an increase in the efficiency of the engines that use them.

Most of the population centres of the world are already in your 'peak oil utopia', indeed most never left it, and we haven't seen the amageddon you describe.

wotsthat

AD9898 wrote: »

The global economy is teetering on the verge, mainly due to the fact that the required commodity, cheap oil is pretty much gone, hence the inability for the middle east to ramp up spare capacity when the oil price rises due to demand.

The Stone Age didn't end for lack of stone, and the oil age will end long before the world runs out of oil.

Not my quote but I like it.