Quote Originally Posted by Lyle View Post
Kirkland if the speculators move the market then YES even talking about drilling happening in the US would mean an immediate drop in oil prices in the futures market and that would then lower the price of gas.


Not making more power plants won't help....wind and solar alone aren't going to be enough.
The long-term outlook for speculators in capital markets is generally the end of the current financial quarter. Let's be generous and say the end of the year. So exactly what effect does a potential new source of oil that could hit the market a decade from now have on the current market? None at all, obviously. Oil futures contracts for delivery of oil a decade from now don't even exist yet, how can they have an effect on today's prices? Same answer.

There are endless technologies to produce new fuels ither than wind and solar. There's a firm currently growing genetically modified bacteria that eat agricultural waste and shit crude oil. There are hundreds of projects like this being started with the very great potential that one of them will solve the current energy problem overnight, another reason why what some offshore field might produce a decade from now is irrelevant to current prices.


Scientists find bugs that eat waste and excrete petrol

Silicon Valley is experimenting with bacteria that have been genetically altered to provide 'renewable petroleum'



Scientists find bugs that eat waste and excrete petrol - Times Online