Re Peter Grimes interview on Indymedia
dmschanoes at earthlink.net
Wed Nov 5 13:52:18 MST 2003
Have you read Duncan, Bartlett, etc. Do you have any idea of how backward,
vicious, their proposals are? Have your read Hubbert, for that matter. His
testimony before Congress, his later works? You asked me to point out the reactionary
content of the depletionists. All I can do is point you to a reading of their own
Re alchemy: It's not magic to point out that the rate of profit has declined, that
production costs were at historic lows just before OPEC 3, that proven reserves
have more than doubled since OPEC 1, that the Hubbertists predicted peaks in
1986, 1997, 2000 and now sometime this decade. Who's the believer in magic
here, you or me? Somehow, this time they're right because they have an offset
production discovery curve that says so?
The Hubbertists are absolutely convinced that oil depletion was the cause of
the collapse of the USSR. Do you agree with that? And if not, why not?
Total heavy oil reserves in Canada and Venezuela exceed current known light
oil reserves by at least 10:1, and perhaps as much as 40:1. The stumbling block
is cost of processing the raw material to extract the oil. Indeed, some of that
cost is the quantity of natural gas required, still, for capital, it's all about cost,
all about profit.
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