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Thread: US to surpass Saudi as top oil producer by 2016: IEA

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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by Verax View Post
    There is a finite amount of oil in the ground. When you take out more than half of the oil in the ground it is called peak oil because the output will generally be in decline after that time. The U.S. hit peak oil in the 70's but has had a resurgence in recent years because of new technology has allowed us to pull more oil out of the already drilled wells.
    "finite"? LOL. What's changed with mother earth that prevents her from producing oil?
    "“If we don’t deepen our ports all along the Gulf — places like Charleston, South Carolina; or Savannah, Georgia; or Jacksonville, Florida…” -Obama

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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by j-mac View Post
    'Peak oil'......hahhahahahaha! Good grief....wake up....

    "Peak Oil is the theoretical idea that the world will eventually reach a maximum rate of oil production, which will be followed by a terminal decline.

    No doubt, that’s a scary theory should it come to pass. However, as Yogi Berra famously, said, “In theory there is no difference between theory and practice. In practice there is.”

    And go figure. We have a career theorist (i.e. – a research geologist) to blame for Peak Oil. So we shouldn’t be surprised if reality doesn’t match his theory.

    His name is Marion King Hubbert. In the mid 1950s, he developed a quantitative technique that could be used to predict the remaining supplies of any finite resource – and the time of ultimate depletion. And Hubbert used it to predict that oil production would peak by the early 1970s.

    Nice try, Nostradamus.

    After peaking briefly around 60 million barrels per day in the mid-1970s, global oil production resumed its upward march. And now it’s firmly above 90 million barrels per day, according to the latest data from Energy Intelligence Group.

    Here are the two major reasons Hubbert’s Peak Oil theory breaks apart when put into practice…
    First off, a peak in production doesn’t mean a peak in availability. In other words, even if production spikes and tapers off, it’s not an indication that oil’s running out.

    Truth is, we’re nowhere close to running out of oil.

    As oil giant, BP plc (NYSE: BP) said in its annual Statistical Energy Review, “The world is not structurally short of hydrocarbon resources – as our data on proved reserves confirms year after year.”

    Second, Hubbert’s theory ignores “unconventional” fossil fuel sources like tar sands, heavy oils and shale oil. They weren’t easily accessible back in his day, hence they couldn’t be considered affordable and/or available. Fair enough.
    Fast-forward to today, though, and Peak Oil adherents still hold onto Hubbert’s idea. They ignore, or grossly discount, the impact of unconventional sources on availability.

    Yet five decades’ worth of technological advancement has made many of these sources very accessible – and much more affordable. And vast amounts of oil have been discovered in these unconventional sources.

    The end result? As my colleague, Matthew Weinschenk, said back in June, “New developments have rendered Hubbert’s curve ineffective, or at least delayed it by decades.”

    I’ll go a step further and declare it useless.

    So what about America’s prospects for energy independence?
    They’re improving.

    Exhibit A: Fossil fuel production is in a confirmed uptrend, increasing about 12% since 2005.

    Exhibit B: We’re now producing enough energy to meet almost 84% of our energy consumption. Again, the trend is moving in a decidedly positive direction.

    Bottom line: Don’t believe the Chicken Littles of the world when they go around screaming, “We’re running out of oil! We’re running out of oil! We’re running out of oil!”

    Energy Independence and the Myth of Peak OilWall Street Daily

    Do you believe in little green men too?
    I mention "peak oil" and within 10 minutes you are spewing disinformation as a "counter". I have to wonder what kind of mindset you are in where you go full out at the drop of a hat like that. Are you paid to do this? Are you some kind of partisan obsessive?

    If you re-read my post you would notice I said peak oil in the U.S. which has indeed reached peak oil way back in 1972.

    Attachment 67156960

    You also wrongly claim Hubbert's predictions aimed at worldwide peak oil in the 70's, his were aimed at about 2000. We hit peak oil using conventional methods about 2005, that is why in 2007, 2008 we had the massive price spike as demand outstripped supply and we saw a doubling of real oil prices.

    Yes unconventional fuels will make up for the supply to a great degree, however they come at a substantial environmental cost as well as a much weaker ROI. Since you guys on the right don't give a **** about the environment I guess that doesn't matter. Fracking and other methods allow us to recover more fuel from previously abandoned wells which also is giving us a boost right now.

    Oil is a terrible fuel going into the future. The easy to grab light sweet crude that bubbles out of the ground in the middle east is in decline. Once all the easy oil has been captured and we're left with tar sands and other garbage, essentially a mining operation, the noose is going to tighten and we will have to pivot away very quickly.

    However the oil companies want to keep everyone using their product so they enlist the always available conservatives to fight a war for them, (this is where you come in J-Mac). They tell you the libruls are trying to steal your cookie and you need to fight them tooth and nail to save Amurica.

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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by j-mac View Post
    There really is only one stat that you refuse to address that is the most important here...That is the answer from you that I bolded above, and my guess is that you will refuse to answer it....And that is simple,

    What is the total percentage of 'green energy' tecnology in use today, and how much energy does it produce for the nation?
    I did address it. You even bolded it. Your question is irrelevant to the topic.

    See, what you want to do is change the target of your statement. You essentially said the money towards alternative energy has been a failure. I proved your statement to be false. I showed where wind energy has doubled and solar energy has quadrupled. You posted a list of companies you claimed were failures, and I showed where your list was wrong.

    See, you won't answer that
    I won't, because I don't care to research it. I don't care to research it because it's irrelevant to our discussion. Just because you want to change the topic because you were wrong, it doesn't change the fact you were wrong.

    and actively try and hide the fact that it is in the single digits percentage wise
    Is it? I have no idea (though I seem to remember they have increased roughly 2% over the last few years, I believe). I really don't care either, because there are so many factors which go into percentages. We were discussing whether alternative energy initiatives were successful, and it's clear that they are.

    with stats of how much more we are doing today, v. a decade ago, which tells nothing.
    It tells everything, especially since our discussion was whether they were successful. They clearly have been. I think it's funny you accuse me of trying to hide things, when your question was borne of desperation to change the topic from your previously false statement.

    All of the other crap is just that, crap, and arrogant blather out of you
    And yet another attack from you. By the way, when are you going to apologize for repeatedly being wrong?

    so either answer the direct question
    I did. You even bolded it. And you apparently already know what the answer is, so why are you asking me if you already have your answer? Seems kind of shady to me.

    or do us all a favor, and sit back a while and learn something
    Oh, I've learned plenty. I've learned you willingly ignore facts and truths to cling to false perceptions which play into your preconceived notions of someone. I've learned you willingly acknowledge many people have posted facts to you and you still make false claims. I've learned you seek out lies which have been disproven and post them anyways. And I've learned you ask questions whose answers are already known to you.

    Believe me, I've learned plenty. Perhaps I'm not the one who ought to sit back awhile...

    ....Thanks
    No problem. I'm always here to correct people when they are wrong.

  4. #124
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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by ItAin'tFree View Post
    "finite"? LOL. What's changed with mother earth that prevents her from producing oil?
    I dunno man, do you have a few million years to sit around waiting for "mother nature" to make some more oil? Whats in the ground was produced over millions of years, we are extracting it in a blink of the eye relatively speaking.

    You may want to do some basic research to understand this issue.

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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by ItAin'tFree View Post
    Please explain how "oil will run out eventually". Geez, and you make a snide comment about "vision". LOL. it's plain to see you need a thick pair of glasses.

    Hint to you because I recognize your vision impairment: Mother earth has always made oil and always will.
    LOL Do some research. There is NO oil being made today, The oil we are using was made millions of years ago and when it's gone...it's gone. The same goes for natural gas and coal.

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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by Verax View Post
    I dunno man, do you have a few million years to sit around waiting for "mother nature" to make some more oil? Whats in the ground was produced over millions of years, we are extracting it in a blink of the eye relatively speaking.

    You may want to do some basic research to understand this issue.
    "A few million years" to make oil? LOL. Do yourself a favor and take your own advice.
    "“If we don’t deepen our ports all along the Gulf — places like Charleston, South Carolina; or Savannah, Georgia; or Jacksonville, Florida…” -Obama

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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by iguanaman View Post
    LOL Do some research. There is NO oil being made today, The oil we are using was made millions of years ago and when it's gone...it's gone. The same goes for natural gas and coal.
    LOL. Please explain how the earth is not making oil today. This is going to be good for another laugh.
    "“If we don’t deepen our ports all along the Gulf — places like Charleston, South Carolina; or Savannah, Georgia; or Jacksonville, Florida…” -Obama

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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by ItAin'tFree View Post
    LOL. Please explain how the earth is not making oil today. This is going to be good for another laugh.
    oil is created by a process that takes millions of years for fossilized remains to become oil.

    we use up oil at a far faster rate then it can naturally be replaced.
    "If you can't stand the way this place is, Take yourself to higher places!"
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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by Unitedwestand13 View Post
    oil is created by a process that takes millions of years for fossilized remains to become oil.

    we use up oil at a far faster rate then it can naturally be replaced.
    So just exactly was the time frame "millions of years ago" when the earth quit making oil? Placing a time on when the earth quit making it would be the only explanation on how none would be made today. That of course would be silly.

    And how are you sure we're using up oil at a faster rate than it's made? One good shift in the plates could open up all kinds of possibilities for oil.
    "“If we don’t deepen our ports all along the Gulf — places like Charleston, South Carolina; or Savannah, Georgia; or Jacksonville, Florida…” -Obama

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    Re: US to surpass Saudi as top oil producer by 2016: IEA

    Quote Originally Posted by ItAin'tFree View Post
    So just exactly was the time frame "millions of years ago" when the earth quit making oil? Placing a time on when the earth quit making it would be the only explanation on how none would be made today. That of course would be silly.

    And how are you sure we're using up oil at a faster rate than it's made? One good shift in the plates could open up all kinds of possibilities for oil.
    it's not that the earth has stopped making oil, it is that we cannot wait millions of years waiting for oil to be created naturally.

    oil is not the ideal fuel source in the long term.
    "If you can't stand the way this place is, Take yourself to higher places!"
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    Hilliary Clinton/Tim Kaine 2016

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