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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End? -- Ignore unavailable to you. Want to Upgrade?

To: kryptonic6 who wrote (787)	6/21/2005 10:06:30 PM
From: Doug R	Respond to of 1183

Gee, All Sorts of Pollyannas Out This Week... Check out this piece at USA Today. Everything's fine folks. Nothing to see here. Global oil production is not likely to peak anytime soon, contrary to talk that has helped propel prices to $60 a barrel, although lower prices may still be a few years away, a prominent energy consultancy said Tuesday. Cambridge Energy Research Associates said that, instead of a crest being reached sometime this decade, an inflection point in world oil output will occur sometime beyond 2020, after which production will plateau for several more decades. Between this piece and the one HO pointed us to last night, we might as well shut TOD down. Everything's fine! Morons. F-in' morons. (edited to add: here's a link from Bloomberg that says (on 17 JUN) "Crude-oil prices are likely to reach $70 barrel once they breach the record, said John Murphy, chief technical analyst at StockCharts.com. Oil futures in New York have exceeded the 200- day moving average since a dip in May. That suggests a 70 percent to 80 percent chance of oil's reaching $70, said Murphy." and let's not forget our buddy T. Boone at CNN, who says "I think people are scratching their heads as to whether the world will accept $60 like it did $50," Pickens told the Reuters Energy Summit. "You could go to $70, but at some point it's going to cost on the demand side. and T. Boone from a Reuters piece saying "Huge development costs and a tight labor supply will prevent unconventional oil supplies, like Canada's oil sands, from making up for declines in conventional world oil output, veteran energy investor Boone Pickens said on Tuesday.") As I said, f-in' morons. theoildrum.blogspot.com

To: kryptonic6 who wrote (787)	6/25/2005 9:08:46 AM
From: Doug R	Read Replies (1) \| Respond to of 1183

CERA's track record on peak energy. Let's take a look at what CERA said immediately prior to the realization of peak natural gas production in the US: U.S. Natural Gas [...] The supply response -- new exploration and development -- has been slow in coming. Greater investment is needed in exploration as well as in development areas. Nevertheless, CERA expects supply to begin to show year-over-year increases in the United States toward the end of 2000, and in Canada supply growth is at last expected to be evident this spring. www20.cera.com oops.

To: kryptonic6 who wrote (787)	6/26/2005 8:17:07 AM
From: Doug R	Read Replies (2) \| Respond to of 1183

More on CERA: Their website says that they're a subsidiary of IHS Energy: cera.com IHS Energy is a subsidiary of IHS Group. That Group is owned by the Holland America Investment Corp: login.ihserc.com The Holland America Investment Corp has TBG for parent company. login.ihserc.com TBG is the Thyssen-Bornemizsa Group, which is linked to the Bush family: georgewalkerbush.net Their chairman, Dr. Yergin, is a Trustee of the Brookings Institution and a member of the Committee on Studies at the Council on Foreign Relations. He is a member of the Board of the United States Energy Association and a member of the National Petroleum Council. He is a member of the US Secretary of Energy’s Advisory Board and chaired the US Department of Energy’s Task Force on Strategic Energy Research and Development. One of their longest and largest customers is ChevronTexaco, whose CEO David O'Reilly is often the keynote speaker at CERA's week long conferences. CERA also employed, at one time, Zalmay Khalilzad. Mr. Khalilzad now reports directly to Ms. Rice (Miss Chevron Oil Tanker) at the NSC. Coincidence? I think not.