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Société Générale tells clients how to prepare for 'global collapse'

telegraph.co.uk

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Re: Société Générale tells clients how to prepare for 'global collapse'

#11

Post by [deleted] »

hristov wrote: post #10
eserorg wrote: post #9

Earlier quoted context omitted.

Table 6, page 23: "Reserves of Fossil Fuels Plus Technically Recoverable Undiscovered Oil and Natural Gas:" --- Russia: 293.7 --- Saudi Arabia Estimated Undiscovered Oil and Gas: 231.3 --- United States Undiscovered Oil and Gas: 351.5 --- 351.5 > 293.7 > 231.3 Regardless, I'm putting my life where my mouth is. I started my own oil and natural gas exploration and production company in Denver. I've also spun off a seco…

Undiscovered oil and gas means (logically enough) oil and gas that has not been discovered yet. The existence of this stuff is a mere guess. Not only that but different people are making estimates for different countries using different methodologies, and different countries have different incentives for under or over estimating. You cannot say that the US has more oil and gas based on estimates or guesses as to the…

[deleted]

Re: Société Générale tells clients how to prepare for 'global collapse'

#12

Post by eserorg »

hristov wrote: post #10
eserorg wrote: post #9

Earlier quoted context omitted.

Table 6, page 23: "Reserves of Fossil Fuels Plus Technically Recoverable Undiscovered Oil and Natural Gas:" --- Russia: 293.7 --- Saudi Arabia Estimated Undiscovered Oil and Gas: 231.3 --- United States Undiscovered Oil and Gas: 351.5 --- 351.5 > 293.7 > 231.3 Regardless, I'm putting my life where my mouth is. I started my own oil and natural gas exploration and production company in Denver. I've also spun off a seco…

Undiscovered oil and gas means (logically enough) oil and gas that has not been discovered yet. The existence of this stuff is a mere guess. Not only that but different people are making estimates for different countries using different methodologies, and different countries have different incentives for under or over estimating. You cannot say that the US has more oil and gas based on estimates or guesses as to the…

Column #3 on Table 6, page 23 is the sum of: proved hydrocarbon reserves (from table #5) + undiscovered hydrocarbon reserves in BOE.

Re: Société Générale tells clients how to prepare for 'global collapse'

#13

Post by hristov »

eserorg wrote: post #12
hristov wrote: post #10

Earlier quoted context omitted.

Undiscovered oil and gas means (logically enough) oil and gas that has not been discovered yet. The existence of this stuff is a mere guess. Not only that but different people are making estimates for different countries using different methodologies, and different countries have different incentives for under or over estimating. You cannot say that the US has more oil and gas based on estimates or guesses as to the…

Column #3 on Table 6, page 23 is the sum of: proved hydrocarbon reserves (from table #5) + undiscovered hydrocarbon reserves in BOE.

Column 3 of table 6 includes coal. Nobody disputes that including coal the US has the most hydrocarbons.

But the original statement was that the US has the most oil and nat gas. And that is not true and not shown by the document.

edit: hydrocarbons substituted for carbohydrates

Re: Société Générale tells clients how to prepare for 'global collapse'

#14

Post by eserorg »

eserorg wrote: post #12
hristov wrote: post #10

Earlier quoted context omitted.

Undiscovered oil and gas means (logically enough) oil and gas that has not been discovered yet. The existence of this stuff is a mere guess. Not only that but different people are making estimates for different countries using different methodologies, and different countries have different incentives for under or over estimating. You cannot say that the US has more oil and gas based on estimates or guesses as to the…

Column #3 on Table 6, page 23 is the sum of: proved hydrocarbon reserves (from table #5) + undiscovered hydrocarbon reserves in BOE.

Re: "Nobody disputes that including coal the US has the most carbohydrates."

Carbohydrates are what you eat for breakfast.

Re: Société Générale tells clients how to prepare for 'global collapse'

#15

Post by eserorg »

hristov wrote: post #7
eserorg wrote: post #2

The United States has tens of trillions of dollars of mineral wealth (oil, natural gas, tungsten, gold, silver, copper, molly, palladium, rhodium, scandium, yttrium, bastnaesite, etc...) trapped in the ground by a gordion knot of government regulations and bureaucracy. By fully exploiting this mineral wealth, the US could not only pay off its entire national debt, but also generate trillions of dollars of surplus tax…

Oh yes, the usual idiotic bullshit -- "if it wasn't those liberals with those environmental protection laws we would all be millionaires and have our own ponies." Let me just tell you some of the more obvious ways you are wrong: "Interesting Fact: The United States has more oil and natural gas than any other country in the entire world, including Saudi Arabia. These are the official findings of the United States Sena…

"Coal is too expensive to transport for export". Seriously?

The United States exports over 60 million tons of coal each year.

"Good luck basing our economy on coal."

China is building one new coal fired power plant each week. The OECD projects China's economy to grow 8.3% this year -- while the rest of the world is mired in a recession. China's entire economy is based on coal.

Warren buffet just bet the entire future of Berkshire Hathaway, his life's work, on coal -- BNSF is the prime mover of US coal exports to China.

You really have no clue about hydrocarbons.

Re: Société Générale tells clients how to prepare for 'global collapse'

#16

Post by eserorg »

hristov wrote: post #7
eserorg wrote: post #2

The United States has tens of trillions of dollars of mineral wealth (oil, natural gas, tungsten, gold, silver, copper, molly, palladium, rhodium, scandium, yttrium, bastnaesite, etc...) trapped in the ground by a gordion knot of government regulations and bureaucracy. By fully exploiting this mineral wealth, the US could not only pay off its entire national debt, but also generate trillions of dollars of surplus tax…

Oh yes, the usual idiotic bullshit -- "if it wasn't those liberals with those environmental protection laws we would all be millionaires and have our own ponies." Let me just tell you some of the more obvious ways you are wrong: "Interesting Fact: The United States has more oil and natural gas than any other country in the entire world, including Saudi Arabia. These are the official findings of the United States Sena…

"Raw materials only drive economies when they are relatively small economies that can hitch themselves on larger consumer spending economies that are booming"

The United States' consumer-led economy isn't "booming".

"The problem with global recessions is that demand for everything tanks and that includes raw materials."

Have you checked the price of gold and oil recently? Those definitely _are_ booming :-)

"The so called "voracious appetite" of China is only voracious because they use it to feed the voracious appetite of America for consumer goods. If Americans keep getting poorer that appetite of China will no longer be voracious and raw materials prices will keep falling."

China's economy is expected to grow 8.3% this year, and raw materials prices are soaring. Believe me, I know :)

The only thing that's falling is the consumer-sector of the economy. The US economy is bifrucating between core industries and the consumer sector.

I think it's reasonable to expect that the consumer side of the US economy will contract dramatically from the 70% of economic activity that it currently represents -- it has to come more in-line with the rest of the world.

It's a fallacy to think that the consumer has to drive economic growth -- that's been a phenomenon unique to the US since WWII.

Re: Société Générale tells clients how to prepare for 'global collapse'

#17

Post by hristov »

eserorg wrote: post #15
hristov wrote: post #7

Earlier quoted context omitted.

Oh yes, the usual idiotic bullshit -- "if it wasn't those liberals with those environmental protection laws we would all be millionaires and have our own ponies." Let me just tell you some of the more obvious ways you are wrong: "Interesting Fact: The United States has more oil and natural gas than any other country in the entire world, including Saudi Arabia. These are the official findings of the United States Sena…

"Coal is too expensive to transport for export". Seriously? The United States exports over 60 million tons of coal each year. "Good luck basing our economy on coal." China is building one new coal fired power plant each week. The OECD projects China's economy to grow 8.3% this year -- while the rest of the world is mired in a recession. China's entire economy is based on coal. Warren buffet just bet the entire future…

China's economy is based on what they do with the coal not on exporting coal. I.e., it is based on the goods they produce from factories that run on coal.

I guess I was wrong about coal exports, the US actually does export some coal, but the US economy or economic recovery cannot be based on coal. It currently fetches about $70 per metric ton, and it is only going to go down.

Warren Buffet made a bet that as oil prices go up things more valuable than coal will start getting moved on those railroads.

Oh and if you want a coal based economy you can see some pictures of those chinese cities where you cannot see 100 feet in front of your nose. Even China is trying to get off coal as quickly as it can.

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