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Oil price impact.
(04-21-2016, 03:34 PM)Fredledingue Wrote: http://www.reuters.com/article/us-norway...SKCN0XI1S2

Fred, it seems that Euros are pretty much like we Yanks, in that it takes almost forever for government to turn around and respond to necessity.  

But thankfully it is changing, and Euros are beginning to realize that there be oil under those waves to their north and west.  Now, all they have to do is just get out there and "Drill Baby, Drill!"  S13
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"INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" - David Horowitz

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It's more than just availability - it is comparative cost. Those with mature industries find it easy to eat costs to make it uneconomical for frackers and entrepreneur drillers to enter the market. Once new producers come on line, it is still possible for the old producers to strangle them if there is too much a disparity of costs. The tactic is only short-range, however. There is a breaking point where prices need to be honest and not contrived, because eating one's cost can't work forever.

Nuclear power and micro-waved energy from solar satellites still seem the best source for energy - unless we go back and employ Tesla ideas.
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Correct, but you are overlooking one thing Bill: Politics.  That's why the Brits call it all "the Political Economy".  

Economics is wonderful, but as long as politics is the major force, it has this terrible habit of being put on hold, or twisted out of shape.....until the necessity is slapping even the dead in the face.  Its happened here in the US for decades now, and nuclear energy is the biggest example.  

Euro-LaLaLand is perhaps even more hard headed, in their love affair with Socialism and the Welfare State.  Consequently, they are a bit slow to realize that they will be far better to rely on themselves, than Uncle VV: regardless what MV may have tried to tell us.  

I'm betting that the arctic regions are where the easiest oil and gas are to be harvested.  The depth is not as great as that of the Atlantic.  But again, that is going to bring the Euros into contact, and possible conflict, with its neighbor to the east.  

This should all be interesting.  Now, what was that we keep hearing from the nay-sayers about NATO?  Spiteful
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"INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" - David Horowitz

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Well, that's more an issue between Norway and Russia, if any. They have very clear treaties, with delimited areas and both respect that. Norway is the only major oil producer in Europe. Others are just minimal players. There is oil, for example in Lithuania, but realy not a lot.
Not because of politics but of geology. We don't have known oil fields which are left unexploited because of the governement.
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Fred, what I am referring to are sites outside recognized territory. International waters.
___________________________________________________________________________________________________
"INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" - David Horowitz

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You want to drill at high sea at less than $40 a barrel? International waters are far off shore, often deep, and would require almost impossible international agreements about the rights. Not impossible but very complicated.
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(04-23-2016, 05:12 PM)Fredledingue Wrote: You want to drill at high sea at less than $40 a barrel? International waters are far off shore, often deep, and would require almost impossible international agreements about the rights. Not impossible but very complicated.

Fred, here's a 2010 report on the Deepwater Gulf of Mexico oil reserves and production.  This is indeed big business in the Gulf and in that one spot alone.  Here's two charts pictures, showing both oil, and natural gas production as of 2009.  I'll bet it is greater in 2016.

[Image: deepwatermaxoil.png]

[Image: deepwatermaxgas.png]

There are literally hundreds of deep water oil wells out there.  And the better the technology, the deeper they will venture out.  So why shouldn't the Euros do the same thing?

Incidentally, the East Atlantic Coast from Florida to New Jersey, is getting ready to open up areas for drilling as well.  States, like North Carolina, are chomping at the bit.  And the followers of the High Church of Environmentalism here are going bonkers over the possibility.  S13
___________________________________________________________________________________________________
"INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" - David Horowitz

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