Peak Oil

[ICT_GUY]

I came across this as part of our eco schools drive.

Peak Oil, Matt Savinar, Life After the Oil Crash

I knew that peak oil production was coming, I had no idea of the very likely ramifications. Its pretty scary stuff and the only question at the moment is have we already past peak production?

One thing is for sure, Life will change dramatically over the next 20 years, but possibly over the next 10. A 5% drop in production can lead to a hell of a large increase in prices. Along with the projected doubling of the Earth's population over the next 20 years, things look pretty scary.

[somabc]

I thought we were past Peak Oil? The trouble is no one really knows how much Oil is in the ground or at least nobody is saying (I'm looking at you Saudi Arabia!) and as technology develops it is possible to reopen old Oil fields and take more Oil out.



Oil is renewable (it just takes millions of years )

[Jon88]

Yup, and that’s just what the oil companies want you to think
Although I am so fed up of paying stupid amounts for fuel! Not just petrol but oil, gas etc....
Don't forget they used to sell petrol for less a Gallon than it costs for a Litre now!
And why do you think that battery dev for electric vehicles/hydrogen fuel cells etc has been so slow?
That will be because nice big Oil companies avoid investment in that area and also like to pay people not to.

[Dos_Box]

Knowing some bods in the oil industry, I'm quite resassured that we are not past peak oil, and not by a long way, the doom ongers have been saying this since the 70's. New reserves are found all the time, and the oil companies will never reveal just how much they have in reserve, as the paniced price increases from articles such as this create a healthy profit margin.

[ICT_GUY]

Knowing some bods in the oil industry, I'm quite resassured that we are not past peak oil, and not by a long way, the doom ongers have been saying this since the 70's. New reserves are found all the time, and the oil companies will never reveal just how much they have in reserve, as the paniced price increases from articles such as this create a healthy profit margin.

Yes that pretty much how I hope it is, the alternative is scary on a level that makes global warming look like a storm in a teacup.

[sidewinder]

Its extremely worrying. It certainly looks to be one of the defining events of our generation, and the worrying thing isnt that its going to happen, its that governments are burying their heads in the sand and taking a bloody big risk in assuming the official figures are all correct - a lot of people think reserve estimates are vastly inflated.

I mean look at this: Key oil figures were distorted by US pressure, says whistleblower | Environment | The Guardian

The oil industry does use artificial scarcity to raise prices but thats done by adjusting output according to demand, peak oil will mean supply simple cannot keep up with demand, and the price of everything would skyrocket.

Dos_box - reserves are always being found, but the size of them is nothing in the grand scheme of things. Its believed that all the giant fields, like those in Saudi, have already been found. Its the exact reason why so much money is being pumped into the incredibly polluting tar sands oil extraction in Canada - most of the easy cheap oil has been found.

Worst thing is that no-one really knows when it will happen, we could well be in the peak right now, its just not possible to know till after the event, even more so at a time when recession is affecting demand.

Theres loads, and loads of films and books on the subject, and it isnt Alex Jones type nutjobs producing this stuff, its independant geologists who know what they're talking about and are genuinely worried that we're heading for disaster.

[bossman]

@all:

That's not all the oil companies are doing either, these poor souls would have nothing to do with oil but it has come there way and nearly destroyed what meagre existence they have:

SHAME ON YOU OIL RICH NATIONS.......................................

Ecuador's Amazonians sue Chevron over poison waterways - Telegraph

[localzuk]

The important thing is not when peak oil is, it is whether we are adequately preparing for it or not.

Regardless of *when* it occurs, it *will* occur. This is why renewables (and dare I say it, nuclear) are so important. This is where non-oil-based plastics are important etc...

The other thing to remember is that if an oil company were to admit that their reserves were running out, they'd fail completely as an entity. Their share prices would plummet and they'd pretty much collapse. Several oil companies have already been show to have lied about the size of their reserves.

So, put simply, we cannot trust oil companies, or oil reliant national governments (OPEC countries, Russia) to tell us the truth.

Add in the fact that having reach peak oil, and everyone knowing about it, would cause mass civil unrest, not many governments are going to come out and say 'the end is nigh!!!'...

[plexer]

So they pump all of this oil out of the ground, what happens to the voids left behind?

Ben

[localzuk]

So they pump all of this oil out of the ground, what happens to the voids left behind?

Ben

Accommodation for MPs?

[torledo]

Its extremely worrying.

are you sure ? i thought it was just a perennial favourite of the sandwich board men.

[cookie_monster]

One of the big worry factors is that Saudi Arabia have massive reserves by their account, unfortunately they're under no obligation to allow anyone to verify this as it's all run by the Saudi royal family not a company with share holders. A few people think that they've over produced their oil fields which damages their long term viability.

As stated above new reserves are found all the time but they're becoming more and more expensive to access which will push up prices even further. Hopefully this will have the affect of making alternatives more financially viable.

Jeremy Leggett thinks that we have already reached peak oil production, he's worked for a few major oil companies in the past and was laughed out of boardrooms in the 70's when he suggested that the U.S had reached peak oil but he was bang on.

[ame=http://www.amazon.co.uk/gp/product/1846270057/ref=pd_lpo_k2_dp_sr_1?pf_rd_p=471057153&pf_rd_s=lp o-top-stripe&pf_rd_t=201&pf_rd_i=1846270049&pf_rd_m=A3P5 ROKL5A1OLE&pf_rd_r=0MHSPM45KM9H65GZQJQ9]Half Gone: Oil, Gas, Hot Air and the Global Energy Crisis: Amazon.co.uk: Jeremy Leggett: Books[/ame]

[zag]

Watch a really awesome one-off documentary called Earth 2100, its an future reality of someone born today and discusses many things about how their lives will be different in the next 90 years.

Its really well done.

[cookie_monster]

Watch a really awesome one-off documentary called Earth 2100, its an future reality of someone born today and discusses many things about how their lives will be different in the next 90 years.

Its really well done.

Do they all live happily ever after in a utopian future with no more resource wars under the constant comfort blanket of an inexhaustible fusion energy supply?

Sorry I went all Gene Roddenberry there, I can deliver my own slap.

[zag]

The great thing about the documentary is its not all doom and gloom, I won't spoil it but there are both good and bad things that happen in this imaginary future.

Its well worth a watch and very thought provoking.