Peak Oil theory about to bust?

Discussion in 'Economics' started by Rocko1, Apr 12, 2007.

  1. Rocko1


    Quick Summary-

    Royal Dutch Shell has patented a technology to turn shale into oil at the cost of about $30 USD / Barrel.
    If this technology works as it claims, the writer suggests that the US would become the next biggest oil producer due to the large resources of "shale"?

    The question remains, how does this impact the oil producing nations?
  2. Pekelo


    1. The fact of peak oil (we will eventually run out of oil after using up half of the ever known reserves) is not going to change just because there are alternatives.

    2. Read the scepticism part. It is the quantity we need pretty soon that is not going to be produced anytime in the near future from shale. 1-2 mbpd is just a drop....We will need 10-20 mbpd extra in less than a decade....
  3. As R & D into alternative energy increases, the cost of renewables will continue to fall. It's predicted that within 10 years, solar will at less than 4 cents per KwH. When that happens, we will all by driving electric cars that cost $10 bucks a week to run.

    Eventually oil will be something produced for the manufacture of plastics and lubricants only.

  4. We can produce biodiesel off carcass renderings for $30/ barrel profitably. Oil is simply a carbon lifeform byproduct. Not that difficult to speed up the process.
  5. LOL; where did you learn your chemistry? Biodiesel came most from vegetable fat; it more like $30/liter.
  6. AAA30


    The higher the price of oil goes the more oil will come to the market. The reason is there are large initial costs to access some reserves, however now with higher crude prices the projects become worth it.
    After the producers spend the money to "get at" the oil they will pump as much as they can until they only cover their costs, then they may cut back. Six years from now peak oil pundits will look like fools. :D

  7. Pekelo


    The ignorance posters expressed on the subject is amazing.

    Hint: It is the quantity that is going to be missing.

    There is very little shoe-in capacity left, that's why we have such a volatile oilprices. By the way, this thread is about oilshale and not biofuel or solar energy.

    And so far we already had a peak oil date, until it gets surpassed, it stands as such....
  8. just21


    So why did saudi oil production fall 8% last year when the price went up?
  9. traderdan


    oil is a limited resource like anything else. we just do not know the limit yet.

    OTOH, when you have companies sinking $125+ million deep sea exploratory wells, you gotta stop and thing why. If there were easier oil to get (and by that I also include regulatory hurdles like drilling off the US coasts along with geographic and distribution hurdles), why would anyone bother?

    Sure, there is plenty of oil left. Maybe we are far from the "peak" -- or not. No matter. What we are seeing at present is that getting more oil is becoming more expensive and at the same time, countries with resources are becoming much more nationalistic anbout them. (witness Russia and Venezuela).

    those who do not believe in peak oil can laugh at those who do, and we can debate it like global warming till we turn blue from CO2 emissions. but in the end, there is one truism I believe will hold.

    The days of "cheap" oil are over, and it is doubtful you will see oil below $50/bbl again in your lifetime.