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Old November 1st, 2017, 10:28 PM   #11
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Remember “peak oil”? This well-promoted theory was gaining peak notoriety right around the same time it was announced that, when washed through a whole list of “equalizing” adjustments, the Chinese economy had actually usurped the U.S. to become the world’s largest. In hindsight, neither prognostication appears to have been accurate. Imagine that.

I’d bet a pretty penny it was the same crowd promoting the concept that a highly manipulated, centrally-planned economy, aka China, could continue growing at eight percent-plus while our free market economy was stuck in second gear, who were also saying they could somehow discern the amount of oil trapped within the planet and more importantly gauge our ability to reach it. Once again, the anti-free market, anti-fossil fuel development crowd seems to have a problem with their calculations.

As it turned out, the world is awash in oil. Technology and engineering just had to figure out how to reach it. Because figuring things out is what free market economies do, hydraulic fracturing was developed and suddenly the U.S. is producing oil and gas on par with Saudi Arabia and Russia.





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Old November 1st, 2017, 10:49 PM   #12
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Originally Posted by TNVolunteer73 View Post
Yes he did he inherited a Recession with Runaway Inflation and interest Rates and unemployment.


so yes.
No runaway inflation for President Reagan. He got his hands on the reins just as Volcker's deflationary tactics were taking effect. All the inflation resulting from going off the gold standard plus the winding down the VN War fell right on the shoulders of President Carter, that and the price of oil going through the roof.

And interest rates, the prime was 6.25 percent when Carter took office. It would hit its all time high - 21.50 percent - before Carter left office. Think about that. Think about having a mortgage with a rate in the teens or higher. That little gift from Volcker alone would have doused the fire of any economy.

People who go on and on and on about the bad economy under Carter act plain ignorantly; not too bright. The economic forces mentioned above could have tanked our economy. That didn't happen.

How do you see the Carter years as a negative time for the economy?
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Old November 1st, 2017, 11:11 PM   #13
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That's a freaking fairy tale. Fracking has been around a long time. Nobody bothered with fracking a field back in the 50s and 60s. Gushers were still being completed.

What changed and made the world awash in petroleum? The price finally justified going after fracked oil and gas, and once that threshold was crossed, yes, the freaking world is awash in fracked oil .... and gas.

What remains to be seen is what if anything have we done to our aquifers long term.

I didn't ever buy into peak oil. Never wrote about it as a journalist. I have a best buddy who did, extensively, apocalyptically. I suggested the oil companies themselves might be behind the peak oil paranoia. It was good for some good oil prices there for a while.
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Old November 2nd, 2017, 03:11 AM   #14
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And the increased Soviet threat.
Really?
You mean Reagan lied about the "increased Soviet Threat", to boost spending with his contributors on nonsense like the B-1 bomber. Corporate Welfare for North American Rockwell.
In reality, the Soviet Union was in freefall, while Reagan was claiming they were engaged in the "Greatest military buildup in history" they had divisions with wooden rifles, and they towed freshly painted tanks with broken engines into formations.
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Old November 2nd, 2017, 03:18 AM   #15
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Huh, you mean a perceived oil crisis had a negitive effect on the newly created petro dollar?


Whowouldatbunk?
So you have no idea what really happened do you?
Not surprised at all.
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Old November 2nd, 2017, 03:25 AM   #16
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Originally Posted by imaginethat View Post
That's a freaking fairy tale. Fracking has been around a long time. Nobody bothered with fracking a field back in the 50s and 60s. Gushers were still being completed.

What changed and made the world awash in petroleum? The price finally justified going after fracked oil and gas, and once that threshold was crossed, yes, the freaking world is awash in fracked oil .... and gas.

What remains to be seen is what if anything have we done to our aquifers long term.

I didn't ever buy into peak oil. Never wrote about it as a journalist. I have a best buddy who did, extensively, apocalyptically. I suggested the oil companies themselves might be behind the peak oil paranoia. It was good for some good oil prices there for a while.
Peak oil is real, it just got pushed out into the future by improved drilling technology, especially fracking coupled with horizontal drilling.
However much oil it appears we have, we burn it off.
OTOH, the stone age didn't end because they ran out of stone, and the oil age won't end because they run out of oil, but it will end.
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Old November 2nd, 2017, 11:43 AM   #17
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To even discuss or mention supply side capitalism should be a criminal act
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Old November 2nd, 2017, 11:49 AM   #18
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Peak oil is real, it just got pushed out into the future by improved drilling technology, especially fracking coupled with horizontal drilling.
However much oil it appears we have, we burn it off.
OTOH, the stone age didn't end because they ran out of stone, and the oil age won't end because they run out of oil, but it will end.
In your opinion.
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Old November 2nd, 2017, 12:00 PM   #19
Put some ice on that
 
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So you have no idea what really happened do you?
Not surprised at all.
We all know that you don't but it is fun to watch you regurgitate your favorite talking points. Please continue .
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Old November 2nd, 2017, 12:01 PM   #20
Put some ice on that
 
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In your opinion.
It is made of dead dinosaurs and kills polar bears, dont you know.
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