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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: Sidney Reilly who wrote (992)	10/5/2005 6:46:04 PM
From: TheSlowLane	Read Replies (1) \| Respond to of 1183

It is also possible that the moon is made of Camembert. I would assess the likelihood of both of those scenarios roughly equally.

To: Sidney Reilly who wrote (992)	10/5/2005 9:39:36 PM
From: Bill on the Hill	Read Replies (3) \| Respond to of 1183

Peak oil is directly related to the Hubbert Curve and its charting of the production life of an oil well or field. The production lifespan of a well or field can be charted precisely. By charting thousands of wells Hubbert produced his theory and curve. The curve realistically gave producers a tool to project the profitability of wells for the industry. I have a producing oil well on our farm in eastern Colorado. The well was drilled in 1967. It pumped 200 barrels a day or so for years. In the late 70's its production fell just like Hubberts Curve projections. Today it is still pumping but is producing only 400 to 500 barrels a month. And is slowing more every year. Eventually our royalty checks will be 25 cents a month. Peak Oil says we will not run out of oil. But our production will diminish quickly as demand rises. There are way to many wildcat drillers and rogues that would be out there punching holes if the oil was still available. As the price rises we will see a lot of marginal wells be fractured to help reinvigorate them but the bulk of the oil has already gone into the tanks above ground. I am convinced peak is peaked. Now. Not years from now. And that does not even talk about the environmental affects of carbon dioxide and monoxide. Oil was in the crapper for years and years. Now its the highest priced thing around and we hate em. Its not their fault. Its ours. Time we all take some responsibility for our greed and selfishness. That to me is the healthy response. To grow up and quit using so unwisely. Even if peak is not real it is time for us to learn to be more efficient. Just one persons opinion. Bill

To: Sidney Reilly who wrote (992)	10/5/2005 9:42:59 PM
From: kryptonic6	Respond to of 1183

A theory is a unified explanation that "covers" a set of facts. The theory you espouse cannot cover any of the following facts, because it is false. 1) U.S. domestic oil production peaked around 1970 and every year since we have been pulling less oil out of the ground than the year before, despite technological advances in extraction methods.* How many thousands of people, including CEO's and oil industry executives would need to be involved in a grand conspiracy to systematically suppress U.S. oil production in numerous states beginning around the year 1970? 2) Every major energy agency in the world admits that oil production has peaked (and begun decline) in every major producer outside of OPEC, with a few exceptions.* Dozens of said countries (and all of their oil companies) are likewise involved in a grand conspiracy to systematically suppress their respective oil production capacities? 3) The discovery of oil reserves globally peaked in 1962.* A peak and decline in the discovery of oil reserves is inevitably followed by a peak and decline in the extraction of oil. This is simple logic that would apply to any finite resource. The 1962 peak in discovery of oil reserves was also cleverly concocted at the time in order to reap windfall benefits down the line, and all other discoveries have been suppressed, globally? Did the conspiracy include a method for preventing EVERY SINGLE oil exploration company globally from searching for (and discovering) the oil the conspiracists wanted to hide? This conspiracy of hiding oil and suppressing discoveries has lasted 43 years and counting, without a single lapse, goof up, or exposure? *Every fact I've stated here is sourced within this forum, but you could probably find them even easier through a GOOGLE search. Jesse