|
Indy
Super Administrator
Posts: 4190
Registered: 6/24/2004
Member Is Offline
Points: 80690
Mood: Resident Skeptic
|
Peak Oil Is Here
CNN has run a story on peak oil. There are a couple of interesting comments. One person stating regular crude oil has already peaked. And another acting as if nothing is wrong.
| Quote From Source: | Heinberg says world production of regular crude oil actually peaked in May 2005.
| | Click source url to view entire story. |
Prices support Heinberg's claim.
| Quote From Source: | "It's fear mongering, sensationalist crap," said Fadel Gheit, a senior energy analyst at Oppenheimer.
Gheit says there's plenty of oil out there, it just needs to get to a price where it's profitable to extract.
"We have so far consumed one trillion barrels" in all of history, he said, pointing to a 2000 study from the U.S. Geological Survey that made predictions based on rising prices, technology advances and assumed new discoveries based on past finds. "There are three trillion more to go."
| | Click source url to view entire story. |
I have to wonder how a person like Gheit ever gets a job. In 1998 the price of oil was around $10 per barrel. Premium unleaded was under $1 per gallon. Since then the price of oil has gone up 800%. Oil has continued to climb even after the summer travel season and even after OPEC has promised to boost production. I don't know what fantasy land Gheit is living in. All he has to do is print up a chart plotting oil prices over the last 10 years to see peak oil is here. It is a reality. It isn't a theory. We see it every day when we pump gas. There is no reason for me to think we will ever see $40 per barrel oil or even $60 per barrel oil again.
See the entire CNN story.
http://money.cnn.com/2007/09...x.htm?postversion=2007091412
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
|
|
DanG
Administrator
Posts: 5522
Registered: 6/30/2004
Location: SW FL
Member Is Offline
Points: 115011
Mood: Stunned Amazement
|
hmmm - this weekend I'll have to re-watch The Day After Tomorrow
*and* The Road Warrior  |
|
|
MattN
Elite Member
Posts: 619
Registered: 5/16/2007
Member Is Offline
Points: 10570
|
The wife and I each have relaitvely long commutes. Gas is absolutely killing us.
Problem is, we go in opposite directions, so moving won't help. We're pretty close to the center already. |
|
|
|
|
| Site Stats |
Registered Users: 155
Topics: 4126
Posts: 21002
News Stories: 154908
Satellite Images: 1374194
|
|
![[*]](/images/corporate/default_icon.gif){kind=icon}
posted on 9/14/2007 at 13:30
