Is Peak Oil a Fallacy?

Discussion in 'Economics' started by unretired, Jan 7, 2010.

Is Peak Oil a fallacy?

  1. Yes. Plain and simple

    18 vote(s)
  2. No.

    35 vote(s)
  3. Yes for many middle-eastern deposits but not the whole world.

    1 vote(s)
  4. Get real, it’s all about manipulating the market and making more money.

    1 vote(s)
  5. Just Big Lazy Money; effing the little guy. There are 500+ years of untapped Peak Oil resources let

    2 vote(s)
  6. All ... or 3+ out of 5 above.

    4 vote(s)
  7. There is not enough information to say.

    5 vote(s)
  8. Hell-if-I-know

    6 vote(s)
  1. achilles28


    I bought oil at 40$ and so did my family.

    I trade perception. Not reality
    #91     Jan 12, 2010
  2. Good one. At least you're making money off of peak oil, even though you don't believe it... you'll come around eventually, when you *REALLY* start making money off it!

    I believe in taking perception into consideration too - I'm still not 100% sold on shale gas because many wells' gas production drops off significantly after a year or so. But I do know that as oil gets more expensive to drill, shale gas will be more important. Its extraction will be increasingly for commercial uses and residential use will still continue to grow. If you watched the video I posted earlier, the Petroleum Engineer gives good solid figures on Canada's future reliance on natty gas for extracting Alberta's oil from the sands. Exxon's investment in natural gas also shows the long term realities of Oil.

    As Alberta's oil sands production ramps up, they will be relying more and more on natural gas to extract that oil. We will be seeing a lot more energy used to extract other types of energy - more so than in the past. Barring a severe deflationary situation - which I don't think the Fed would allow, energy investments are a no-brainer.

    I'd wish you luck on that oil investment, but I don't need to.

    Peak Oil is real.
    #92     Jan 12, 2010