The Imminent Crash Of The Oil Supply

Inteldaily ^ | APRIL 23, 2010 | Nicholas C. Arguimbau

[OregonRancher]

Hang on, it's going to be a wild ride.

[Cheetahcat]

Really ????? We have 200 years of supply at present consumption.

[BradtotheBone]

What a load. Scare tactics from Obama’s DOE.

[ßuddaßudd]

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[thackney]

... assuming it to be correct:

Conventional oil will be almost all gone in 20 years

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LOL!!!!
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Demand will begin to outstrip supply in 2012

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Demand and supply are curves versus price with opposite slopes and intersect at one point. The demand will not be greater than supply, the intersect point only moves up and down as the curves shift.

[Kansas58]

“Peak Oil” is a bogus concept.

As oil prices become more expensive, oil shale, coal gassification, extraction of methane ice under the sea, more expensive oil drilling, and the marginalization of the greens all happen rather quickly.

[screaminsunshine]

Baloney!

[TWfromTEXAS]

Is it OK to say rats ass here?

[hinckley buzzard]

Like any "environmental lawyer" this author is lying by omission. The fact of course is that we will never run out of oil. As the price rises, new supplies become available. And new technologies have already accessed large reserves once thought beyond reach in old fields. Given the chance, market driven conversions to NG and nuclear will see us moving on to other energy sources long before the oil supply is exhausted.

As in the past, any and all "oil shortages" will be the result of political manipulation, not some terminal decline in supply.

[Eric in the Ozarks]

‘zackly.
If the price message is not interfered with, oil (or its substitute) will last indefinitely.

[VeniVidiVici]

We actually ran out of oil in 1990.

[dware]

25 years ago I was ten years old. Some family friends were sitting around and somehow ended up on this very subject. They told me then that by the time I was old enough to drive, the world would be so close to running out of oil that I wouldn’t be able to drive. Lol. Somehow I don’t believe this.

[MileHi]

The author, Nicholas C. Arguimbau, is an appellate and environmental lawyer licensed in California and residing in Western Massachusetts.

Finding that saved me a lot of reading.

[SomeCallMeTim]

Whoever wrote that long analysis didn’t look at his own charts... there is PLENTY of oil available, it’s just going to cost more.

In the range of $120 per barrel, oil shale and tar sands are viable. There’s enough oil there to last us another 100 years, easily.

And... in the US, at least, we have MORE excess natural gas than we’ve had in 10 years. New production techniques is pulling LOT of gas from shale formations.

The price is going up, yes... but, only to the $100-150 per barrell range.

[puppypusher]

We have been running out of
oil since the 1970’s and their still spreading this BS.

The only time we’re short of oil is when the federal government sticks its nose into the business and blocks drilling and searching for oil on public lands.

[RightOnTheLeftCoast]

"It was drawn by the United States Department of Energy..."

All you need to know.

That Department was established to break America's dependence on foreign oil. If there's another Federal department that has failed as utterly in its agenda, please tell us.

Today that Department is headed by a morally-superior lab rat with no experience in any energy-related endeavor, either industry or research, and who does not even drive a car. But, like his boss, he is serene in his certainty that he knows best.

The Department of Energy should change its name to The Department of Power, because that's what it's all about. Little people, bow to your betters!

[driftless2]

Every year I either see something on tv or read something in the news where some “expert” says we’re at the end of our rope concerning oil. “Peak oil” is the phrase I keep hearing. Somehow we keep finding more oil.

[Mike Darancette]

These folks tell us all we need to know by making such a lengthy disclaimer as to who they aren’t.

[Cheetahcat]

“Baloney!”

How do you figure that we have a Trillion eight in one deposit alone. stop reading the Rat press.

[norraad]

Which is ok because the same ‘ex-spurts’ said we’d all have flyin’ cars by 1999, oh, I can’t wait, who needs oil when you have a flyin’ car?