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Thread: Peak Oil

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    Peak Oil

    A growing number of oil-industry chieftains are endorsing an idea long deemed fringe: The world is approaching a practical limit to the number of barrels of crude oil that can be pumped every day.

    Some predict that, despite the world's fast-growing thirst for oil, producers could hit that ceiling as soon as 2012. This rough limit -- which two senior industry officials recently pegged at about 100 million barrels a day -- is well short of global demand projections over the next few decades. Current production is about 85 million barrels a day.

    Link:
    Oil Officials See Limit Looming on Production - WSJ.com


    Last edited by alaskaguy; 11-19-2007 at 10:59 PM.

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    Re: Peak Oil

    Well, this will definitely promote alternative fuels, as we'll have no other alternative (pun intended)



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    Re: Peak Oil

    I like buying oil and I don't mind paying a lot for it.... not really sure why I am this way... but I am ... at least so far.


    The first and best victory is to conquer self; to be conquered by self is of all things most shameful and vile. - Plato

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    Re: Peak Oil

    Like, you get giddy at the thought of buying oil?



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    Re: Peak Oil

    I can't imagine a world without oil and the products/byproducts I (we) depend on and enjoy EVERY second of our lives.


    The first and best victory is to conquer self; to be conquered by self is of all things most shameful and vile. - Plato

    May you only need 39 acres to turn your rig around. - keep

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    Re: Peak Oil

    Was that just a proclamation or were you directing that somewhere, because I was just asking if you get giddy when you buy oil?



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    Re: Peak Oil

    I tend to believe that supply and demand will eventually "fix" our dependence on oil. And that I'll be dead long before that....


    A ship in port is safe, but that is not what ships are built for.


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    Re: Peak Oil

    They interviewed Boone Pickens during an OSU game a week or two ago. He said we are producing 85 MBD but are consuming about 88 MBD. He said the markets will take care of our problem on the consumption side.

    I hope they get cellulosic ethanol commerciallized soon. It might come in handy to those in the midwest when we start paying $5/gallon for gas.


    “Science investigates; religion interprets. Science gives man knowledge, which is power; religion gives man wisdom, which is control. Science deals mainly with facts; religion deals mainly with values. The two are not rivals. They are complementary.”

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    Re: Peak Oil

    I remember in 5th grade, they told us oil production had already hit it's high, and was going down for good. That was in the early 80s and guess what, they were wrong.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Peak Oil

    We have literally hundreds of ways to keep producing, from converting coal to oil and using the massive new find of shale oil in the US. Once gas prices get high enough, most of these become economically viable.



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    Re: Peak Oil

    Quote Originally Posted by keepngoal View Post
    I like buying oil and I don't mind paying a lot for it.... not really sure why I am this way... but I am ... at least so far.
    I love lamp!



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