PEAK OIL - The New Y2K or The Beginning of the Real End? Message Board

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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End?

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To: I_C_Deadpeople who wrote (1105)	7/28/2006 12:51:09 PM
From: Tommaso	Read Replies (2) of 1183

It certainly is true that we have had a lot of premature predictions of declines in world oil production. I had an uncle who told me, with great confidence, about 1960, that all the oil would be gone by 1990. And there are a lot of old oil-patch guys who have seen so many price cycles that they cannot believe that really high oil prices (i.e. over $30 a barrel) are here to stay. It's always worth reexamining where new supplies might come from. Most recently, it's become profitable to convert natural gas to oil, and there are huge amounts of "stranded" (i.e. isolated and far from pipelines and markets) natural gas. It looks to me as if there is no way out but a crash program to build nuclear power plants--that is, if what we want is cheap energy. The whole earth is one huge nuclear reactor, but extracting heat by drilling immensely deep wells never seems to get into the planning stage, so it may be impractical. In any case, oil can do nothing but get more scarce, the way things are going now.

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