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re: U.S. Department of Energy to Release 1 Million Barrels of Gasoline from Reserves
Posted on 5/22/24 at 7:41 am to LegendInMyMind
Posted on 5/22/24 at 7:41 am to LegendInMyMind
quote:Negative. They said prices are too high right now and not cost effective to replenish.
Has the potato replaced what he released the last two times he did this?
0
Posted on 5/22/24 at 8:47 am to dukke v
quote:
Oil… there is only so much left
who told you this?
Posted on 5/22/24 at 8:50 am to dukke v
quote:
I fear in 20 years when supply runs out.
I bet you still believe it is a "fossil fuel" and not a renewable resource. All recent data shows the latter FYI
Posted on 5/22/24 at 9:13 am to stout
quote:
I bet you still believe it is a "fossil fuel" and not a renewable resource. All recent data shows the latter FYI
I don't think there is any question oil is being produced by the earth every day but my understanding is that the amount produced is a fraction of one percent of the amount we use each day. I think the more salient issue is the trillions of barrels of oil in oil shales and tarsands. As we get more efficient at accessing and extracting that oil the farther into the future we will have viable oil at a viable price. Right now I think the EROI of tarsands is about 2 to 1 and oilshales about 7 to 1 which hopefully will rise in the future.
Posted on 5/22/24 at 9:22 am to ragincajun03
It probably won't move the needle much, if at all, but might be interesting if the hurricane season is as bad as anticipated.
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