A Quote by Craig Venter
Right now, oil is being isolated around the globe, and there is a major effort in shipping, trucking and otherwise transporting that oil around to a very finite number of refineries. Biology allows us to make these same fuels in a much more distributed fashion.
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There's a huge misconception that it's all about the oil, and the truth is there's actually not much oil left in Abyei. The misperception arose because when the peace agreement was signed in 2005, Abyei accounted for a quarter of Sudan's oil production. Since then, the Permanent Court of Arbitration in The Hague defined major oil fields to lie outside Abyei. They're in the north now, not even up for grabs, and they account for one percent of the oil in Sudan. The idea that it's "oil-rich Abyei" is out of date.
I can at once refute the statement that the people of the West object to conservation of oil resources. They know that there is a limit to oil supplies and that the time will come when they and the Nation will need this oil much more than it is needed now. There are no half measures in conservation of oil.
This morning, prompted by increasing concerns about terrorism, oil prices reached a record high as the cost of a barrel of crude is a whopping $44.34. Wow, it seems shocking that a product of finite supply gets more expensive the more we use it. Now the terror alert means higher oil prices, which oddly enough means higher profits for oil companies giving them more money to give to politicians whose policies may favor the oil companies such as raising the terror alert level. As Simba once told us: "It's the circle of life."
The U.S. only has 20 billion barrels of oil in reserve. It seems as though there is no more oil around. Venezuela has 300 billion barrels of oil in reserves. Iraq has, like, 150 billion barrels of oil. Iran, close to 300 billion barrels of reserve. Oil for 200 years, of course.
Right now, there are a limited number of customers for Canadian oil. Due to simple geography - and without the pipeline - it's really only cost effective for Canadian oil producers to sell their oil to North American customers, mostly American Midwesterners.
No one does a better, cleaner, or environmental friendlier, than the United States, when it comes to drilling for oil, gas, coal, oil refineries and fish friendly hydroelectric.
There are signs that the age of petroleum has passed its zenith. Adjusted for inflation, a barrel of crude oil now sells for three times its long-run average. The large western oil companies, which cartellised the industry for much of the 20th century, are now selling more oil than they find, and are thus in the throes of liquidation.
Asia is rising economically - and is thirsty for oil. The price pressures on oil and oil price shocks, due to Asia's economic rise, mean that all steps made now to reduce oil dependence will protect us from pain and volatility later.
We must surely appear to the world as exactly what we are: a nation that organizes its economy around consuming twice as much oil as it produces, and around the profligate wastefulness of the wars and campaigns required to defend such consumption. In recent years we have defined our national interest largely in terms of the oil fields and pipelines we need to procure fuel.
By curious accident of history and geography, the world's major energy resources are located pretty much in Shiite regions. They're a minority in the Middle East, but they happen to be where the oil is, right around the northern part of the Gulf.
The oil areas have a big problem digesting the oil. There's too much money, and the people don't know what to do with it. I'm finding all the time that we have more industries and more success stories which are not involved with oil.
India has reduced its dependence on Iranian oil. I know their refineries have stopped asking for orders to purchase Iranian oil.
I've been saying for a long time, and I think you'll agree, because I said it to you once, had we taken the oil - and we should have taken the oil - ISIS would not have been able to form either, because the oil was their primary source of income. And now they have the oil all over the place, including the oil - a lot of the oil in Libya, which was another one of her disasters.
Venezuela has the biggest oil reserves in the world. And the biggest gas reserves in this hemisphere, the eighth in the world. Venezuela was a U.S. oil colony. All of our oil was going up to the north, and the gas was being used by the U.S. and not by us. Now we are diversifying. Our oil is helping the poor.
The KXL pipeline would make it easy and cost effective for oil producers in Canada to transport oil to the Gulf of Mexico where it could be shipped to customers - not just in the United States - but around the world.
There is a tremendous amount of oil in Iraq and it's still very, very cheap due to all the political uncertainty. So if you want to be a serious oil investor, I would say get yourself to Iraq in person and look around to find great opportunities.
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