Peak Oil claims were bogus!

By Joe Carroll
Feb 6, 2012 12:15 PM CT

When Daniel Lacalle, in his early 20s, took a job with Spanish oil company Repsol YPF SA in 1991, friends chided him for entering a field with no future.

“They all said, ‘Why do you want to do that? Don’t you know only 20 years of oil is left in the whole world?’” he recalls. Two decades and four energy crises later, the U.S. Geological Survey estimates that more than 2 trillion barrels of untouched crude is still locked in the ground, enough to last more than 70 years at current rates of consumption.

Technological advances enable companies to image, drill and shatter subterranean rocks with precision never dreamed of in decades past. Trillions of barrels of petroleum previously thought unreachable or nonexistent have been identified, mapped and in many cases bought and sold during the past half decade, from the boggy wastes of northern Alberta, to the arid mountain valleys of Patagonia, to Africa‘s Rift Valley.

“Betting against human ingenuity has been a mistake,” says Lacalle, who today helps oversee $1.3 billion as a portfolio manager at Ecofin Ltd. in London.

“The resource base is absolutely enormous, so much so that we will not run out of oil in my lifetime, your lifetime, our children’s lifetimes or our grandchildren’s lifetimes.”

The Inkdemon says:  Al Gore, Eat you heart out!

via Peak Oil Scare Fades as Shale, Deepwater Wells Gush Crude – Bloomberg.

Why Obama will win re-election

By the InkDemon
©Copyrighted

Shortly after their crushing victory in the 2010, some jubilant Republicans were sure that President Barak Hussein Obama’s days in the White House were numbered.

His approval numbers were down and unemployment was close to 9 percent. Republicans only needed to find a suitable opponent in 2012 and win back the White House.

Many things have changed since 2010.

Who would have thought that the Republicans would have devoured themselves in early 2012? Mitt Romney is the current frontrunner. He has yet to get a clear majority of the votes in any of the three primaries where GOP voters vote directly.

Meanwhile Obama has a billion dollar campaign war chest and has solidified his base on the left.  He is concentrating now on the independents (Indies).   The Indies will be the crucial voting bloc in the 2012 election.  What will Obama give them?

With war clouds gathering across the Middle East, Obama has removed all U.S. troops from Iraq. He is pulling out of Afghanistan. He has told Israel in no uncertain terms that he will not support an attack on Iran. The Iranians are indeed building a nuclear weapon and the means to deliver it.

Appeasement (peace) is the big carrot that Obama will dangle before the Indies for their votes. Lyndon Johnson used it to defeat Barry Goldwater in 1964.

By November the unemployment rate will be manipulated below 8 percent. Mr. O will give the economy a happy face and say he kept his promise to bring the unemployment rate below 8 percent. His big government advisors will put out the word that the crucial economic indicator, growth in Gross Domestic Product, will be 1.1 percent in 2013.  No one remembers that the GDP growth was once 4.24 percent.

The Main Stream Media including the Fox News Channel will trumpet the “Obama Economic Recovery”. Then the media will play Obama’s biggest trump card. They will “go Alinsky” and demonize the right and the Tea Party. They will try to connect the Tea Party with every “evil and hated” right-wing group in existence.

They will call the 2010 House of Representatives the Do Nothing Congress which put a drag on Obama’s economic recovery plans.  Campaigning against Congress worked for the Democrats in 2006 and as far back as 1948.

The media, the Democratic National Committee, and Obama will demonize the rich. Of course, later when the tax bill comes in, Obama’s supporters will find out that they are all “rich”.

The Ron Paul-ites will remember how they and their candidate were the victims of Alinsky tactics by their fellow Republicans. They will either find a third party candidate or fold their arms and stay home.

Will liberal politics trump religion?  Some staunch right wing Evangelical Christians will refuse to vote for Mitt Romney if he is nominated.  He is a cultist to them. Other Evangelicals will simply say that Jesus whispered in their ear to stay home or vote for Mr. O.   Many Indies won’t vote for Romney because the media will point out his ties to the Evangelicals.  It will be a circular firing squad.

Conservative members of the public sector unions will close ranks with their left-wing co-workers and vote for Obama.

Will it be another “Kumbaya moment” and 2008 all over again? The InkDemon fears that it will be.