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Thread: RIP: Peak Oil - we won't be running out any time soon

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    RIP: Peak Oil - we won't be running out any time soon

    RIP: Peak Oil - we won't be running out any time soon

    http://www.theregister.co.uk/2012/02/23/peak_oil_is_dead_citigroup/

    Human ingenuity wins the day

    By Andrew Orlowski Get more from this author
    Posted in Environment, 23rd February 2012 12:29 GMT




    The idea that seized the imaginations of the bien pensant chattering classes in the Noughties "Peak Oil" is no longer relevant. So says the commodities team at Citigroup, and policy-makers would be wise to examine the trends they've identified.
    "Peak Oil" is the point at which the production of conventional crude oil begins an irreversible decline.

    [ . . . ]

    The resurgence of US gas production to well over its 1970s peak and into the number one slot globally over the last seven years is a result of hydraulic fracturing fracking techniques being applied to shale gas reserves across the US. The same companies are now using the same techniques on shale oil reserves, with results that in many cases look as promising as the early stages of the shale gas revolution. US oil production is now on the rise, entirely because of shale oil production, as conventional sources such as Alaska or California are structurally declining, and as Gulf of Mexico production is poised for a post-Macondo recovery.

    [RIP is in the title of the article. One rule says use the title, one says RIP is reserved for dead people. Went with rule 1, hope that's right].

    Anyway, I wouldn't say it's time to drop all sustainability planning just yet, but it is good to hear that we're not on the verge of collapse. Until synthetic hydrocarbons or some other form of safe, renewable energy is developed, this is a nice buffer on available oil supplies. Plus, it takes the heat off of drilling in places like ANWAR, where the value of maintaining some of the last few pristine pieces of land is a high price to pay to get another few years of leaving the lights on without caring about it.

    Not that I don't like the idea of energy efficient hybrids, efficiently designed buildings, and well planned public transport -- all great ideas -- just that I like my fast v8 and I'm not ready to give it up to live in a tree just yet.

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    Re: RIP: Peak Oil - we won't be running out any time soon

    Peak oil was a political explanation in the mid to late 1950s..

    The US mom and pop domestic operations simply couldn't compete with ME oil.. so Americans were told Texas and Oklahoma crude were "exhausted"..

    It was revived right before we attacked Iraq by Matthew Simmons .. an Energy broker.. to line his own pockets.

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    Re: RIP: Peak Oil - we won't be running out any time soon

    it's a finite resource, and as the third world modernizes, demand is only going in one direction.

    peak oil is only a matter of time. we would do well to start seriously planning for what comes next as soon as possible. our chance to avoid global crisis and conflict over diminishing energy resources is now.

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    Re: RIP: Peak Oil - we won't be running out any time soon

    Quote Originally Posted by Helix View Post
    it's a finite resource, and as the third world modernizes, demand is only going in one direction.

    peak oil is only a matter of time. we would do well to start seriously planning for what comes next as soon as possible. our chance to avoid global crisis and conflict over diminishing energy resources is now.
    The planet is producing new oil everyday. I disagree that it's a finite resource.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: RIP: Peak Oil - we won't be running out any time soon

    Quote Originally Posted by BooRadley View Post
    RIP: Peak Oil - we won't be running out any time soon

    http://www.theregister.co.uk/2012/02/23/peak_oil_is_dead_citigroup/




    [RIP is in the title of the article. One rule says use the title, one says RIP is reserved for dead people. Went with rule 1, hope that's right].

    Anyway, I wouldn't say it's time to drop all sustainability planning just yet, but it is good to hear that we're not on the verge of collapse. Until synthetic hydrocarbons or some other form of safe, renewable energy is developed, this is a nice buffer on available oil supplies. Plus, it takes the heat off of drilling in places like ANWAR, where the value of maintaining some of the last few pristine pieces of land is a high price to pay to get another few years of leaving the lights on without caring about it.

    Not that I don't like the idea of energy efficient hybrids, efficiently designed buildings, and well planned public transport -- all great ideas -- just that I like my fast v8 and I'm not ready to give it up to live in a tree just yet.
    Damn! You're just now catching on? You had to wait until some tree-hugger rag sheet told you?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Quote Originally Posted by apdst View Post
    The planet is producing new oil everyday.
    Not at the rate we use it. The planet produced the entirety of what's been available to us over the course of about 150 million years.

    I disagree that it's a finite resource.
    Then you're being silly.

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    Re: RIP: Peak Oil - we won't be running out any time soon

    Quote Originally Posted by Neomalthusian View Post
    Not at the rate we use it. The planet produced the entirety of what's been available to us over the course of about 150 million years.


    Then you're being silly.
    Oil exploration is still in its infancy.. Look at off shore Algeria, Shaybah, Sudan, Darfur, Yemen, Brazil, Cuba.........

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    Quote Originally Posted by sharon View Post
    Oil exploration is still in its infancy.. Look at off shore Algeria, Shaybah, Sudan, Darfur, Yemen, Brazil, Cuba.........
    I'd be happy to be wrong about oil. But I think a lot of people will believe and insist that supply will virtually always meet our needs, and when it doesn't we'll invent a magical replacement.

    I expect the EROEI to drop to 1 within my lifetime.

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    Re: RIP: Peak Oil - we won't be running out any time soon

    Quote Originally Posted by Neomalthusian View Post
    I'd be happy to be wrong about oil. But I think a lot of people will believe and insist that supply will virtually always meet our needs, and when it doesn't we'll invent a magical replacement.

    I expect the EROEI to drop to 1 within my lifetime.
    You may be right, but we are becoming more efficient..

    Consider that 90% of Israeli homes have passive solar hot water..

    Its not all or nothing..

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    Re: RIP: Peak Oil - we won't be running out any time soon

    Quote Originally Posted by Neomalthusian View Post
    I'd be happy to be wrong about oil. But I think a lot of people will believe and insist that supply will virtually always meet our needs, and when it doesn't we'll invent a magical replacement.

    I expect the EROEI to drop to 1 within my lifetime.
    33 billion barrels were just discovered off the coast of Brazil a few years ago. Did you hear about that?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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