DanG
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World oil supplies are set to run out faster than expected
| Quote From Source: | ... scientists led by the London-based Oil Depletion Analysis Centre, say that global production of oil is set to peak in the next four years before entering a steepening decline which will have massive consequences for the world economy and the way that we live our lives.
According to "peak oil" theory our consumption of oil will catch, then outstrip our discovery of new reserves and we will begin to deplete known reserves.
Colin Campbell, the head of the depletion centre, said: "It's quite a simple theory and one that any beer drinker understands. The glass starts full and ends empty and the faster you drink it the quicker it's gone."
Dr Campbell, is a former chief geologist and vice-president at a string of oil majors including BP, Shell, Fina, Exxon and ChevronTexaco. He explains that the peak of regular oil - the cheap and easy to extract stuff - has already come and gone in 2005. Even when you factor in the more difficult to extract heavy oil, deep sea reserves, polar regions and liquid taken from gas, the peak will come as soon as 2011, he says.
| | Click source url to view entire story. |
http://news.independent.co.uk/sci_tech/article2656034.ece |
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Weaseldog
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Oh, its still in the future. Nothing to see here. Move along, move along.
Is there something pulling us out of the current doldrums?
I'm not sure the peak hasn't happened. But we need to get some distance from it to be sure. |
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DanG
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... 2011 ... which means the truth will smack the sheeple in
oh
say
2012
this is getting almost comical
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Indy
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If anyone doubts that peak oil has already hit just look at the receipt the next time you fill up your gas tank.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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DanG
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Dr Campbell has NO reason to lie, the oily co's have EVERY reason to...
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Weaseldog
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Back when the web was young, I emailed Colin Campbell and Jean Laherre about their 1998 predictions in Scientific American.
They both replied that they make no effort to factor in political or business information into their models.
They simply use the geological and technical data they have, and base their models on those.
They understand that politics can change reality in ways that their models won't predict. They are striving for theoretical accuracy. |
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causeiambetta
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Original Image: media.truckblog.com
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causeiambetta
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ok, all joking aside, i wish they called the theory 'Peak Easy Oil' because there is still tons of harder to process oil around (shoal oil, etc) |
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Jeffers
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That's the thing that will hit us hard. As it gets more difficult to process, it'll get even more expensive and then that dude will have to sell his monster truck smart car. |
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Indy
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Even if we can find this oil and get it will we be able to do so at a pace that keeps up with demand growth? Exploration is a slow process. You have to hit one after another to keep up. I'm not sure that will be possible. I think the easy oil was the only thing keeping us going. I don't think the difficult oil will do the job. It might buy us an extra year or two but I wouldn't expect much more than that.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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Weaseldog
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One of the problems is obviously the fact that we aren't looking for new continents.
When was the last time anyone even looked for new continents?
If we found a few dozen more continents, then surely we'd find more supergiant oil fields.
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Shy4chey
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Think Atlantis has is hiding a huge supply of oil for itself? |
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DanG
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oh - with our luck, zillions of gallons are under the south pole...
just havta do something with all that pesky ICE
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Jeffers
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Ironic isn't it? ahh gotta love synergies. 
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![[*]](/images/corporate/default_icon.gif){kind=icon}
posted on 6/14/2007 at 15:30
