Sorry to obsess, but this is the only interesting thing in the tech world right now. And for all you Mac fans, Apple stock recently passed $200 ($198 today), up over 7 percent on the month, and Macworld is coming up with Jobs orchestrating the Greatest Show on Earth. You should be able to watch it via Weblink, unless the servers get crushed as usual. Remember you read it here first! (unless you read MacRumors, or AppleInsider, or…well, you know).
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“but this is the only interesting thing in the tech world right now”
Only if you think horizontal drilling, CO2 injection, and rock fracturing are “old economy” and not “tech” — even though all of this stuff is relatively new and has much bigger implications for the economy, foreign policy, et al., than Jobs’ newest pocket calculator.
Technology is the biggest game-changer in the world. And when I say that, I’m not talking about who has the “coolest” notebook computer.
I’m talking about North Dakota sitting on top of more oil than Saudi Arabia has … and not just any oil, but the lightest, sweetest crude on the planet. The industry has known for a long time something was there (since 1951, to be precise), but didn’t know how to get it out of the impermeable shale. Suddenly it’s possible, and at today’s crude prices, economically feasible.
The U.S. imports about 4 1/3 billion barrels of oil a year. If 30% of the Bakken Formation’s estimated reserves are recoverable, there may be enough oil there to make the U.S. self-sufficient in petroleum for 25 years.
The big question is: Will Apple ever outsource Jobs?
Apple Scruffs
You should be able to watch it via Weblink
You have a link or site for that, Paul? That would be news. In the past, Apple has put the keynote online several hours after the fact, and those of us watching from afar have done so via live weblog at Engadget, Gizmoto, Macworld, MDN, and any of about a dozen Mac sites. One day perhaps they’ll livestream into the Apple Stores, that would be a ton of fun. Not as much fun as a trip to San Francisco, but easier to arrange.
Guess that kills the peak oil theories?
@6
How true. The earth has an infinite supply of oil. We will never peak out.
@6 Hardly.
@6 (continued) It will take years to drill wells and get infrastructure in place. Much of the required drilling equipment doesn’t even exist and will have to be designed and built. And although this long-dormant field is now being opened with horizontal drilling, rock fracturing techniques, and CO2 injection, all of this technology comes at a price. Although enhanced-recover techniques may prolong the life of old oilfields and open new, difficult-to-exploit ones, the era of CHEAP oil is over.
There is still a lot of oil in the ground, and as the industry gets better at finding and extracting it, petroleum will continue to play a crucial role in the world economy for decades to come. But production WILL peak at some unknown point in time. And when it does, humanity will have no choice but to reduce its consumption of oil, for the simple reason there will be less oil to consume.
@8
It’s called sarcasm.
@9
“…production WILL peak at some unknown point in time”
Yup.
Except for on RightStuff world (Bizarro world?) where the earth has an infinite supply of oil and we will never peak out.
From Paul’s earlier post: “…Macworld’s big bust-out will be the long-awaited, much-speculated (including here), disk driveless ultra-lite notebook.”
So Paul’s still saying this new machine won’t have any disk-based drives? I don’t see anything here to indicate that he’s changed his mind on that.