The main point is that technology and demand are changing the percentage that can be extracted." ------------------------------------------------------------------------------ This is a key point. Drilling domestic sites has become far more efficent and can yield great results. The problem is that the SHEOOPLE and bleeding heart socialist are blind to the above fact. We can drill domestically with enviromentally sound practices. I am not saying that there would "NEVER" be an accident. However, with new Technology, this is a fact. The main problem, the American people are lazy and want to be dependent on foreign oil. There is a abundance of Oil in America, yet to be discovered. We just started to drill domestically and more attention will be brought to such a task. Oil is not going anywhere and our consumtion of it will not stop. However, even though I am involved in OIL I also advicate alternitive energy sources as well. I do not believe that "alternitive"energy is a threat to OIL or the Industry. Humans do not change their habits thus, will all ways have a thurst for Oil. As i stated, Oil will touch 400 to 500 a barrel before "PEAK" oil theory could ever be "rationalized". I think "PEAK OIL" is a false theory.
Is it really that hard to think for yourself or do a little research? I understand that spoonfed by FoxNews is easier. Anyway, just for educational purposes.... Quote from EMRGLOBAL: The main point is that technology and demand are changing the percentage that can be extracted. Sure. What you don't get is this: If you use a longer straw to suck out the rest of the drink from your giant Gulp sodacup, that still doesn't mean you are not going to finish it... But you don't have to believe me, finally even Bush and major oilcompany CEOs acknowledging the peak, blame them. After all, after a while there is no point in lying... Drilling domestic sites has become far more efficent and can yield great results. In your dream. Numbers locations please... We can drill domestically with enviromentally sound practices. Sure we can drill 2 miles off of Florida, we get 1-2 years extra out of it. The bottomline won't change, which is that we will run out of oil quite soon... The main problem, the American people are lazy and want to be dependent on foreign oil. I think American people LIKE YOU are lazy to think and research topics, nevertheless they argue them... There is a abundance of Oil in America, yet to be discovered. We missed you last week at the Flat Earth Society's meeting, I hope to catch up with you next Tuesday at the Gravitation Deniers party! Oil is not going anywhere and our consumtion of it will not stop. Unfortunatelly you will be FORCED to decrease and stop your oilconsumption by market forces supposed you are younger then 40...
No matter how much oil is "discovered" or whatever, the price will always remain ratcheted up, simply because they know we will pay for it. Why would they (oil companies) purposely take a huge paycut when they don't have to? Out of the goodness of their hearts? It's like complaining about car/homeowners insurance. It's pretty much legal extortion. You can shop around if you want, but the general market is what it is. No matter how much oil there is, the price will only go up in the long term. The only reason "alternative energy" isn't in full force is because the oil companies aren't ready for it to be released. They aren't done totally screwing us with oil prices yet. Once "alternative energy" hits, I bet you the oil companies will run that shit too.
How can we not expect higher oil prices when USD continues declining vs other major currencies? Just follow the charts is all we can do, how CAN we possibly know real reasons is beyond me.
If Peak Oil is a myth, why are all oil wells in the world yields oil increasingly in the beginning and then have a plateau (peaks) and then falls fast. This happened to ALL OIL WELLS in the world and everybody knows this. THIS IS NOT A PROJECTION THIS HAPPENED IN THE PAST. So if there is technology if there is development in oil engineering, howcome this huge drop in oil production could not be reversed? I am dying to read your answers...
Whe 25 years from now your grandkids going to ask: grandpa, do you remember the time when that mysterious liquid called crude oil peaked? Here is an easy way to remember: 2005 May, when hurricane Katrina ravaged New Orleans... More charts at : http://europe.theoildrum.com/node/3655#more P.S.: It is possible that in the NEAR future we SLIGHTLY go over the May 2005 peak. It won't be for long or by a big amount though...
I agree with you, but you are making far too complicated. All you have to give as proof is: we used to find oil about 300 - 500 feet under the earth or water. Now oil explorers spend untold billions to put rigs out in the ocean that drill into the earth at 5000 feet. If oil hadn't peaked, why do we need to drill deeper and deeper for it? My guess is that there is about one quadrillion barrels of oil left in the ground/ocean floor. We run out in less than 100 years at current accelerated rate of consumption. The more interesting thing to consider is the rest of this post. Think about the entire history of humanity's effort to control/release/capture energy from it's environment. It is all (except for nuclear) chemical derived, based on the same principle that we discovered all the way back from the first people that ignited a controlled fire. We burn coal, we burn oil, etc, all chemical reactions. We haven't advanced in over 30,000 years! Now look at nature. We have no clue as to how a leaf can capture sunlight and store that energy 1000 times more efficiently than a solar panel, and it does this amazing feat all the while creating water and oxygen and sugars!!!! The reason we don't understand the leaf's technology is that this is a molecular to an atomic wonder, and our electron microscopes can't probe that deeply. But imo we are at the cusp of understanding. Stay tuned for some world changing events... nitro
What data are they using on that chart? Global production is 85 million bbls. per day last time I checked...