I no longer believe in Peak Oil

Discussion in 'Economics' started by shortie, May 30, 2010.

  1. i have believed it for several years and now it is over for my naive belief.

    how can there be not enough oil when nobody is able to stop it gushing from an oil well?

    "After three full days, we have been unable to overcome the flow from the well, so we now believe it is time to move on to another option," said BP Chief Operating Officer Doug Suttles at a news conference with federal officials in Robert, La.

    In a surprisingly somber statement from the company that has sought to reassure the public over the last 40 days, Suttles acknowledged: "This scares everybody — the fact that we can't make this well stop flowing or the fact that we haven't succeeded so far."
  2. pma


    Im with you on this one. If we are low on underground reserves,than how can this well gush like a son of a bitch?!:eek:
  3. If there were a peak in oil and there were no other future sources of energy to replace the lack of energy from such a peak (if it were to exist), it would mean that the future price of oil is infinite, which would also mean that the current oil price would not be finite (and should even be stored).

    Since the current price is finite, the peak scenario cannot take place. Markets already answered the question for a long time. It however get people's attention to think of a peak.

    PS: There is a mathematical problem in which researchers have been debating whether a given set exists or not. However they have proved that if it were to exist, it would be empty. Yet, they are still debating the question of existence/writing papers, etc. Why? I do not know..
  4. kxvid


  5. Daal


    This is a silly argument against peak oil(which I have no clue when it will happen), there a thousands of oil wells around the world gushing oil like a 'son of a bitch', its just that the oil is being captured and refined
  6. Oil wil never be scarce. The problem is when to recover 1 gallon of gas you spend 1,0000000001 gallon of gas, is when peakoil hits.
  7. What does this have to do at all with the peak oil theory? Are you thinking that there is so much oil underground that it is ready to burst at the seams?

    The well is estimated to be leaking 12 to 19,000 barrels a day. So far the well has spilled in total only about a half a million barrels of oil. The United States uses about 20 million barrels of oil every day. The amount spilled compared to the amount that the United States uses is totally insignificant. The people and wildlife living there might argue that that the spill isn't insignificant but as far as disproving peak oil, it's a very poor argument.
  8. Peak oil has nothing to do with oil discovery or what's hidden under the ground. Peak oil has everything to do with the finited drilling we have to keep up with demand. A gulf spill stimies further drilling which actually exacerbates peak oil.

  9. I like to believe in Peak Oil when I'm looking CL.
  10. 151


    Its weird but the previous and next pictures in the link you posted look nothing like the one in the link. Like one day no oil spill is visible, next there is oil everywhere, next the oil is gone again.

    I'm a little slow maybe you can tell me whats up with those pics.
    #10     May 30, 2010