Where are all the 'Peak Oil' theorists? This is not a sarcastic thread

Discussion in 'Economics' started by ByLoSellHi, Dec 5, 2008.

  1. I'm genuinely wondering whether you feel the vicious and ongoing downward spiral in oil prices, oil demand, and upward massive build in crude oil inventories casts any doubt on your views.
  2. Honestly, i thought the mysterious they would manage to hold it above 60-70 on this leg.
    I was wrong, and the long term cycle is holding a pattern, same as the first two/three legs of this multi year move.

    I never believed in peak oil, though, and in inflationary/economic terms, it likely is still higher than this.........in theory
  3. achilles28


    Oil is abiotic.

    Oil results from a natural geological process found beneath the mantle = pressure + heat + basic inorganic compounds = oil. Scientifically proven. In the Lab.

    Other planetary bodies void of life abound with Methane - the base component of natural Gas. Strange?

    Stranger still - Ultra-deep Russian drillers that extract many miles below sedimentary rock/fossilized organic life, have tapped huge deposits of oil.

    Peak Oil is a myth sold by the Oil Industry to create a basement for prices using mass hysteria and pseudo-scientific garbage.

    The average work-a-day schmuck, Duped Again!

    Another Victory for Lies and Rigged Markets!
  4. the oil peaks 1980 and 1990 (Iraq) where around 40. There might be some support around this area if you look at a long term chart.
    I think Oil for 40 Dollar is a good long term investment (I would rather hold this long term thán Bonds or Cash) but its difficult to invest in Oil because of the contango situation in the futures contracts.
    Its the same with this bubble as with other bubbles before: back to the start please...
  5. m22au


    I subscribe to peak oil theory.

    I don't believe that the decline from 147 to 43 disproves this thesis - rather, it shows that
    (1) disinvestment / dehedging in oil combined with
    (2) a severe decline in demand

    can be a greater influence on price than stable / declining supply.

    For what it's worth, I believe that we're near or at the peak. This would mean that supply is stable.

    I am surprised that the decline in oil has been this severe. Which means that I am a little more willing to consider achilles28's point of view - that oil is abiotic.

    Having said that, I believe that peak oil is a subset of two much larger problems - overpopulation and overconsumption. 6.6 billion humans now, and expecting 9 billion in 2040.

    Given these numbers, current western lifestyles are not sustainable.

    I think we are approaching (or already at) our "limits to growth". If peak oil isn't the first symptom of overpopulation, then there will be something else - for example, "peak food".
  6. You sir are a fucking moron.

    Oil is NOT abiotic. The oil that goes into your car is a fossil fuel dumb ass.

    Stop reading conspiracy theories about Russian scientists. Russia does not produce any oil that was created in the mantle.

    Yes, it is true there is some evidence that hydrocarbons can be produced abiotically but that is NOT where ANY of the OIL that we use comes from. None, zero, zilch.

    If you really knew anything about this you probably would have brought up the theory that there are bacteria living in the Earths crust that are providing the biomass for oil as well. But you don't because you're an idiot and you obviously put less effort into actually researching oil and gas as you did in making this ridiculous post.

    I challenge you to name one single oil well, or reservoir, or field, or any commercially usable source of oil anywhere that was created abiotically.

    There isn't. That my friend is a fact. But please prove me wrong.

    I guess the oil companies must be really smart, convincing all those geologists and engineers all over the world that oil and gas is created from fossils. Why am I sitting on a well right now drilling for gas into a carbonate rock? Its probably just an elborate scheme to dupe us all!

    I have held steaming hot core in my hand from 2 kms underground with oil oozing out of it. It was not ABIOTIC!

    And for the record, world oil production peaked in 2005.
  7. There is no conspiracy but like most things that filter down to the average joe the complexity of the arguement is simplified to the point that it is no longer representing the facts.
    Clearly there is "Peak Light Sweet Crude Oil"...to sum that down to "Peak Oil" though is to ignore the massive supply of non light sweet that is only economic above a certain price of light sweet..
    The biggest flaw in the "Peak Oil" nonsense is they forgot that markets actually work...
  8. just as a bond yielding %3.00 does not signify the underlying risk of lending to the U.S. government for 30 years, 43.00 oil does not signify how much oil is left.
  9. m22au


    That's very well put green vegetable.

  10. Mvic



    While I have no doubt oil will see new highs again to have discounted the possibility that oil would not retrace substantially with the advent of a global recession was wishful thinking.
    #10     Dec 5, 2008