Comments on: More on Peak Oil

By: hao_hao

hao_hao — Sat, 06 May 2006 13:07:59 +0000

if goverment didn’t subsidy the oil price what he can do

By: Chris Newman

Chris Newman — Wed, 22 Mar 2006 11:45:24 +0000

Oh dear me.

I think the author should seek to understand what Peak Oil actually means before attempting to write this sort of article. Any article on Peak Oil that uses the phrase "run out of oil" should be avoided at all costs.

Peak Oil, although an easy concept, can easily be misunderstood and deliberately obfuscated.

For instance Peak Oilers will not disagree that supply and demand will not hold true. They would just say that its the the demand side will have to be destroyed to keep it in check with decreasing supplies. Only flat earth economists would disagree.

For nuclear, at least try and understand the concept of Energy Return on Energy Invested, and the world supplies of U235 before thinking outloud.

Cheer

By: tom RYAN

tom RYAN — Wed, 01 Mar 2006 20:59:08 +0000

THIS iS IT

break up the oil co.let them be buyer or sell,or finders ,not everthing then the price will come down,, look what happen with the phone co whem
the court order break up
THE BEST
TOM RYAN

By: DeeDee

DeeDee — Fri, 11 Nov 2005 22:54:42 +0000

Thanks for some of the information you provided. Good stuff.

By: Joshua Swink

Joshua Swink — Tue, 23 Aug 2005 19:47:18 +0000

You said, “At $65 a barrel, even nuclear starts looking good again”. Did you mean that it would start looking good even under the restrictions that it currently suffers in the U.S.? I believe that nuclear has been looking good for quite a long time now, absent the irrational regulations that it suffers under.

By: Ward

Ward — Tue, 23 Aug 2005 17:32:54 +0000

I for one sure sleep better at night knowing the “TRADERS” have figured out the world is awash in oil. I guess that’s the reason companies spend over 500K a day to drill in deep water for wells that hit a steep decline after 18 months. These wells happen to be on goverment leases as are most of the wells drilled in the US. As for shale oil, Exxon is firing up the retorts in western CO this week. They have sold all the equipment to an Australian company.

By: Matt

Matt — Tue, 23 Aug 2005 08:42:21 +0000

I for one am looking forward to the day when the price of oil stabilizes at a point where buying it from Canada becomes economically viable. Then we can finally get serious about the real Middle East enemy instead of constantly pretending like they're our friends.

I'd pay the higher gas prices with a smile on my face so wide that my muscles started to hurt, if we could manage to see our way to that day.

By: MYNIPPON

MYNIPPON — Tue, 23 Aug 2005 01:05:57 +0000

No one could have predicted 5-10 years ago how much oil countries like China and India would consume. While our demand is more or less stable, there is no way to satisfy the appetite of these countries unless the supply/demand is balanced soon.

By: Monkeydarts

Monkeydarts — Mon, 22 Aug 2005 21:49:39 +0000

Roughly 75% of all oil wells drilled into the Earth’s surface have been drilled in the USofA. Another 20% have been drilled in Europe including the former Soviet Union. The entire rest of the world has seen just 5% of the oil well drilling since oil was first discovered in PA. We have barely begun the search for oil on the globe. The idea that we are running out is hysterical. We’re swimming in the stuff if anyone wants to drill for it– however, nations where citizens don’t have mineral rights offer little incentive for exploration. The price of oil vis a vis the price of gold has never been this high since the dollar was taken off the gold standard. Something will “give” either gold will soar or the price of oil will collapse. The current price of oil has very little to do with supply & demand. It’s largely what we traders call a “trading function.”

By: Duane Gran

Duane Gran — Mon, 22 Aug 2005 20:01:33 +0000

To clarify, the research behind Peak Oil (Hubbert and more recently Deffeyes) doesn't claim that we "run out of oil" when the peak is reached, but rather that it becomes more costly and difficult to extract. I recently saw a lecture from Deffeyes and I was impressed at how he personally doesn't exude a chicken little attitude about this at all. In fact, he is skeptical of certain conservation efforts as being naive. One thing is for certain though: He and others who ascribe to the Peak Oil theory have sound reasons for being concerned.

In his lecture I was particularly astonished to hear that 94% of our current oil is drawn from oil fields that were discovered over 33 years ago. The last one billion barrel producing oil field was discovered in 1968. While there may be some big finds left, it is plausible (and rational) to conclude that we have exhausted the easy targets. Efforts in repurposing of older oil fields with newer extraction technology is encouraging, but in the long run it is no substitute for new field discoveries.

There is really little doomsday discussion among serious academics on this matter, but rather a sombre realization that the party for the last 100 years will come to an end unless something changes. Whether that end is a soft or hard landing no one can predict.