Skip to comments.Debunking the Myth of Peak Oil - Why the Age of Cheap Oil is Far From Over
Posted on 03/17/2010 11:46:56 AM PDT by bananaman22
If I may, I would like to rebut or add a little objectivity to the flood of Peak Oil articles circulating around. When I see another crisis looming in the balance, and dramatized articles that warn of the Dangers of Peak Oil, I must question the validity or how this will effect the world, the USA, and you and I personally, and if indeed a crisis is at hand.
As for world oil, if you ask the right questions, there are several new technologies/methods/alternatives and new finds that can easily supply enough hydrocarbon fuel for the next century or more. The latest new find in the news today, Petroleo Brasileiro SA, Brazil's state-controlled oil company, said its Tupi field may contain as much as 8 billion barrels of oil and natural gas, an amount that could boost the country's reserves by 62 percent.
But you ask, how can one or two new oil fields make a difference? Wrong question, because the finding of new oil is continuous.
Over the past 33 years mankind has consumed more than three times the worlds known oil reserves in 1976 and today proven oil reserves are nearly double what they were before we started. The story with natural gas is even better here and around the world enormous amounts of natural gas have been found. More will be found. But if you had asked in 1976 what the supply of oil would be like given the demand of 2010, you would have come up with the Peak Oil theory then, and we would have supposedly run out of oil decades ago; an ongoing impending crisis.
I think the key to the argument of Peak Oil, is that it not only ignores the huge amounts of oil yet to be found, but other hydrocarbon fuels as well. Even if the theory holds water, which I argue on its face (or in your face, as some so delightedly pointed out), we will not be out of hydrocarbons and our cars stranded on the side of the road during this century. This is the perceived crisis of Peak Oil that tells us that declining production and increasing demand will cause a disruption in supply. Full article at: Peak oil debunked
We’ll have oil shortages only if governments continue to conspire to keep oil off the market.
The abiotic theory of oil formation will prove to be a boon for consumers.
Leftists have always been known for creating shortages.
Oil goes to $11-15 a barrel within 24 months. Not that I like that, but that’s what I think is coming.
Saturn’s moon, Titan, is bathed is hydrocarbons. Makes you wonder if that moon was covered in dinosaurs or if the hydrocarbons came from another source!
Wonder if the Hunt Brothers know this ?
Don’t know but if some one better get up there fast and start exploiting it.
Quick, tell me the downside before I lose my gloomy demeanor.
Yeah, get those “fossil” fuels on Titan.
All this crap about no oil started with Jimmy Carter, I worked in the Oil field at the time when we were forced to shut down 1/2 the wells. California has More Oil than you could ever imagine. But people Like Governor Shriver and his Eco Friends refuse to allow for Oil Extraction of any kind.
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