Skip to comments.Washington Capitulates: Peak Oil Is Real
Posted on 08/28/2009 9:17:30 AM PDT by h20skier66
Each year, generally in May, the Energy Information Administration publishes a less-than-eagerly-anticipated tome called the International Energy Outlook, 250+ pages of mind-numbing text, charts, graphs, and tables.
No one reads it. The mainstream media ignore it.
It's the product of the best prognosticators in the Department of Energy. Okay, that may be what puts most people off. But if you're patient enough to dig into it, it will cough up some fascinating nuggets of information.
The present edition is no exception. The report refrains from spelling out the conclusion that seems most obvious from its data. However, confirming a trend begun just last year, the 2009 edition clearly reveals that the government has been forced to admit that Peak Oil is coming. Moreover, it's expected to arrive much faster than was believed as recently as two years ago.
This represents a remarkable turnaround in the agency's opinion. Up until 2008, they were predicting unbroken growth in world oil supplies for the next two decades. But in '08 and '09, the rosy picture turned decidedly unrosier.
Oil (as we generally think of it), upon which most of the world economy depends, is termed "conventional liquids," i.e., the stuff that comes gushing up from under Saudi sands. "Unconventional liquids" - extra-heavy oil, bitumen, coal-to-liquids, gas-to-liquids, and biofuels - are also covered in the report, as we'll see, but conventional is far and away the most important one at this moment in history.
(Excerpt) Read more at commoditynewscenter.com ...
“peak” oil is real when its illegal to drill for more
Peak Oil! We are DOOMED ... again!
Peak oil is real, is a straight out lie. Barges sit full all over the world holding the glut, to keep prices up. Pelosi and T. Boone Pickens and their wall streeter family members ‘speculating’.! And our Congress IS THE PROBLEM.
Hubbert peak theory
Guy is an idiot. Here is a theory for the guy to test, Supply follows Demand.
Oh Snap, thats right.
If you want to see if Peak Oil is real you have to look for disconnect of Supply and Demand. Supply is measured in Reserves vs Demand not liquid pumped vs demand.
This guy needs to stop smoking swiss cheese.
But much later than was believed 5 years ago.
So the best thing to do is not drill for what is known to be available, so future generations can say... duh, that was stupid.
From Wiki: “... [Peak Theory] is [from] geophysicist M. King Hubbert, who created a method of modeling the production curve given an assumed ultimate recovery volume.”
The production curve is based on models that are based on assumptions. Verrrrry interrrresting!!
We have ample energy available in the form of Natural Gas, Shale oil, Coal, and nuclear. The problem is politcal. We are not allowed to exploit these sources of energy. The energy crisis is a function of politics it is not a function of energy supplies. This is a crisis created in Congress by the Democrats and a few Rinos.
We are awash in hydrocarbons that can be converted to usable fuels. The only issue is price. For this reason worrying about running out of gasoline is as silly and foolish as San Diego worrying about running out of drinking water.
The Myth of “Peak Oil”
Mises Daily by Charles Feathestone
I can’t argue with you due to your resume, nor have any reason to do so with your reply.
(well, I am a bit skeptical about peak oil since, I don’t believe that oil’s source has been defined)(and new fields, thought harder to reach, are being found)
We'd also be locked in a new ice age, but that was OK....since we'd all be dead or dying of starvation and/or pollution-caused cancer. That is, if we hadn't already perished in a nuclear holocaust and the ensuing nuclear winter.
I was taught this in grades 1 to 3. Good stuff. Makes the whole "The World is warming by 3/10ths of a degree seem pretty trivial in comparison.
Kids these days have it eeeeeeeeeasy. :-)
I thought this documentary was compelling
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