The sun slowly sets on the West's oil men

Kieran · Post by **Kieran** » 22 Oct 2009, 18:25

http://blogs.telegraph.co.uk/finance/ro ... s-oil-men/

“Oh somewhere in the $60 to $90 range for the foreseeable” – that was the consensus for the oil price that most energy executives milling around at the Oil & Money conference in London gave this week.

That is until John B Hess, the man whose father founded the $120bn oil-exploring Hess Corporation 76 years ago, shook up the room with his apocalyptic outlook for the world’s galloping energy consumption...

Quintus · Post by **Quintus** » 22 Oct 2009, 19:32

The man's a doomer!

This could have been a thread on Powerswitch.

The price of $140 per barrel oil was not an aberration. It was a warning,” he started. Some home truths from Mr Hess followed:

1 ) About 85pc of the world’s energy comes from hydrocarbons. Renewable energy does not have the scale, timeframe or economics to materially change this outcome.

2) Oil demand growth will be unrelenting, increasing 1m barrels per day each year. But non-OPEC production is in the process of, if not peaking, reaching a plateau. And 73 pc of the countries that produce oil have already peaked.

[snip]

4) We will ultimately be at risk of supply rationing demand through skyrocketing prices that will threaten economic stability and prosperity. If we do not act now, we will have a devastating oil crisis in the next 5-to-10 years.

5) Emissions targets to limit global warming to no more than two degrees are unrealistic. To meet this target, global annual CO2 emissions would have to be reduced from today by more than 80pc by 2050. With world population growth and rising living standards, holding global CO2 emissions flat by 2050 would be a huge achievement in itself.

fifthcolumn · Post by **fifthcolumn** » 22 Oct 2009, 21:49

The guy is reading from the dieoff handbook.
Thus he's a nutter in my view.

On a side note: did anyone else notice who the first commenter was?
Is it our very own DominicJ?

careful_eugene · Post by **careful_eugene** » 23 Oct 2009, 09:41

Does anyone else think that Rowena Mason (Journalist who wrote the piece) is hot?

Was that innapropriate?

fifthcolumn · Post by **fifthcolumn** » 23 Oct 2009, 17:38

careful_eugene wrote:Does anyone else think that Rowena Mason (Journalist who wrote the piece) is hot?

Was that innapropriate?

HOT?

I suppose if you'd had 10 pints and there was nobody else left in the pub.

Vortex · Post by **Vortex** » 24 Oct 2009, 13:36

Err ... no.

Ludwig · Post by **Ludwig** » 24 Oct 2009, 14:12

I like intellectual women, but putting on a pair of specs doesn't make you intellectual

And that smug smile is a turn-off.

neckiep · Post by **neckiep** » 24 Oct 2009, 14:32

Does any one think John B Hess is HOT

by the way how do you post images?

ziggy12345 · Post by **ziggy12345** » 26 Oct 2009, 10:25

An agency friend of mine is advertising jobs for electricians to work offshore for £30 per day and as knowbody takes up the job he is free to apply for a transit visa (UK is the only country in Europe that allows this) and then hire Philipinos who rotate out of Manila while UK electricians are out of work in the UK.

Quintus · Post by **Quintus** » 26 Oct 2009, 13:49

ziggy12345 wrote:An agency friend of mine is advertising jobs for electricians to work offshore for £30 per day and as knowbody takes up the job he is free to apply for a transit visa (UK is the only country in Europe that allows this) and then hire Philipinos who rotate out of Manila while UK electricians

It sounds like a job that's paying less than the minimum wage, I'm surprised anyone can get a transit visa for that. Loopholes maybe.

emordnilap · Post by **emordnilap** » 27 Oct 2009, 15:45

careful_eugene wrote:Does anyone else think that Rowena Mason (Journalist who wrote the piece) is hot?

Yup.

careful_eugene wrote: Was that innapropriate?

Nope.