In the sunset

of the

petroleum industry


The cost of our latest oil adventure in Iraq 2001 to date: > 961,076,000,000. Do we instead invest in conservation, safe local production & renewable energy?

Do we face the consequences of more adventures and diminishing supplies or invest our dollars more wisely?

All of the above mentioned scenarios point to first a need for immediate conservation because the probability of a peak in world oil production in the near term, followed by major price increases, will certainly bring forward a switch to renewable fuels and energy sources.

If left to business as usual......? In '04, for example, ExxonMobil's profits were over $41 billion, an increase from "just" $17 billion two years earlier. ChevronTexaco's net income increased to some $13 billion from $1 billion two years ago. ConocoPhillips profits were over $8 billion from a loss two years ago of $300 million.

A study that came out a few years ago that showed the security costs of having the U.S. military protect the oil supplies of the Persian Gulf. That bill came to around $44 billion in 2007.
A somewhat hidden DOE study from 2000 found that oil supply disruptions, price hikes and loss of wealth suffered through oil market upheavals have cost the U.S. economy around $7 trillion (in 1998 dollars) over the thirty years from 1970 and 2000 that’s more than half the total U.S. national debt!

While you think of that debt it's limit was just increased over two trillion more.

New national debt US Population US citizens debt individually


How about above $60 per barrel?

We would like you to partner with OtherOil and move to the new economy now.

Simply redirect existing spending.

We are like tenant farmers chopping down the fence around our house for fuel when we should be using Natures inexhaustible sources of energy — sun, wind and tide. ... I'd put my money on the sun and solar energy. What a source of power! I hope we don't have to wait until oil and coal run out before we tackle that.
Reference: In conversation with Henry Ford and w:Harvey Firestone (1931); as quoted in Uncommon Friends : Life with Thomas Edison, Henry Ford, Harvey Firestone, Alexis Carrel & Charles Lindbergh (1987) by James Newton, p. 31

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