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Leaked Cables Reveal US Thinks Saudi Oil Reserves May Be Overstated

Mr.Intel writes with this excerpt from a UPI report which may interest those of you with cars, electricity, items made of plastic, etc: "Estimates of oil reserves in Saudi Arabia are overstated, meaning crude output could peak within the next decade, leaked US diplomatic cables reveal. Washington fears Saudi Arabia overestimated its oil reserves by as much as 40 percent and the kingdom can't keep enough oil flowing to control prices, US diplomatic cables obtained by WikiLeaks and published by The Guardian newspaper in London reveal."

3 of 385 comments (clear)

  1. Re:Your pessimism is misplaced by Darkness404 · · Score: 3, Interesting

    The alternatives will start coming when A) we stop federal subsidies for "alternative energy" and B) when the price actually hits where it makes sense for people to transition.

    All federal subsides do is delay real, marketable solutions for stuff that doesn't work in the real world. Just look at ethanol, it is completely impractical for use in the US, especially from corn, but because of all of the subsides going to it, we continued on even though it is a dead end. Perhaps if we stopped interfering with the automotive industries we might actually see a practical electric car on the market, rather than attempts to gain tax credits and subsides.

    --
    Taxation is legalized theft, no more, no less.
  2. Re:No worries - they already sell it to us. by rolfwind · · Score: 3, Interesting

    The real solution is to stop using energy to push 3500 pound cars with a few hundred pounds of human all over the place. Half the cars in this country should be replaced by bicycles.

    The problem is that so much of this country has been built around the car. The bike is excellent in Europe, specifically Holland. But the zoning there doesn't seperated stores from the people in the same way they do it here, surburbia wasn't sold to them as the ultimate dream like it was here in the 1950s to get away from the cities.

    Also, weight is not the ultimate problem. A honda civic gets 30mpg. A moped/motorcycle that has a small engine but still can go highway speeds gets maybe 75mpg, often 60mpg. For the sacrifice, not a huge multiplier. If you can get away with 60mph top speed, then maybe a moped with 100mpg. Really not the 300mpg some people I talked to thought in the past (when gas was nearing $4 a gallon). It surprised them because they see a lot of sacrificed weight (saftey) and convenience (space).

    For one, standard bicycles/motorcycles have a tall profile with the rider in the standard position, not that aerodynamic compared to a lower car or recumbent bicycle (which hold the speed records since aerodynamics make a huge difference at speed). Then another factor is rolling resistance -- trains are heavy as hell but their steel wheels deform a lot less than a rubber wheel - giving them decent efficiency all things considered (along with not stop and going and aerodynamics). Lastly is the huge engines Americans love even though they never use 90% of the capacity. In Germany, with the unlimited autobahn and where they go at least 85mph (~140kph) on average on the autobahn, many drivers make do with 1.2-1.6L engines while in America so many people have 1.8-2.4L+ just so they can peel out the driveway a fraction of a second faster. And consume more fuel the rest of the time.

    I don't see the US making the move to rail/bike lanes. Too much central control and will power needed to make the changes. Before we go to mopeds/bikes, something like the Aptera could provide similiar mileage w/o too many sacrifices. Too bad it'll never get made.

  3. Re:Thank goodness for Canada by Man+On+Pink+Corner · · Score: 5, Interesting

    To quote Dogbert, your comment more or less says "Hey everyone, I don't understand what fungible means."

    Oil isn't really fungible, if you're thinking long term. The oil under our own (US) territory may have the same nominal value, but it's a lot more valuable to us than the oil underneath Saudi territory.

    What is often derided as America's "dependency" on foreign oil is actually a rare example of smart politics: in a world where supplies are declining, it's best to burn the bad guys' oil first.