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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (1337)	10/22/2005 4:21:43 AM
From: Wharf Rat	Read Replies (2) \| Respond to of 218627

Right ideer, but the others aren't needed, and aren't terribly missed if one can't afford them. Fuel is different; for example, last June,with fuel about $2.50 a gal,... ====================================================== After several seasons of battling rising costs and a widespread drought, many custom crop harvesters are calling it quits amid skyrocketing fuel prices. Between 25 percent and 30 percent of the workers who travel the country harvesting crops for farmers have left the business in the past three years, said Dave Hermesch, a harvester from Cowetta, Okla., and former president of U.S. Custom Harvesters, the industry's trade group. Message 21406647 ------------------------------------------------------- Six years ago, the British sector of the North Sea was producing more than two million barrels of oil a day. Every barrel sold for just $12 (£7), and the government thought this output could be more or less maintained until at least 2010. The change since then has been dramatic. The price of a barrel of North Sea crude is now over $60 (£34), and it is thought unlikely to fall; UK production in all offshore fields is 30% down on 1999 and dropping daily; and governments, major oil companies and energy analysts accept that, barring a few spikes, North Sea output will probably fall every year from now until the resource becomes physically too difficult to extract - perhaps in 20 years' time. Close to capacity But, says Skrebowski, the world is being hit by a double whammy. Major oil companies and governments have been throwing money at exploration for years but despite far better geological knowledge, are not finding any large new fields and are unable to replenish their reserves. And although the International Energy Authority (IEA) says there is enough conventional oil to sustain 1.8% per annum growth in the world economy for 25 years, demand from countries such as China and India is exploding at more than 10% a year and straining existing refinery capacity. At a rough estimate, 90% of all the world's known reserves are now being exploited. The combination of demand growth and supply declines, say Skrebowski and other industry analysts, suggests that the world is roughly where North Sea oil was in 1999 - close to its production peak. He compares the situation to someone trying to fill a leaking bucket. However much water is poured in, more runs out of the bottom. In the end, he says, it has to run out. "Quite simply, we are consuming oil far faster than we can find it," Skrebowski says. "For the next three years, I believe we will scrape by. After that, it gets progressively more difficult." The exact timing of a global peak, and the speed at which supplies then decline, is fiercely debated. Some analysts give it 10 years or more, others suggest that we may have reached that point already. Skrebowski, who sees oil companies struggling to hold production levels now, and knows how hard it is for the oil industry to move, estimates 2008. energybulletin.net In fact, the entire North Sea has peaked... The last major oil provinces were discovered between 1967-68 in Alaska, The NORTH SEA and Siberia. Alaska peaked in the 1990’s and its peak output was 2 million barrels per day. It now produces 900,000 barrels per day. The NORTH SEA peaked in 1999 at 6 million barrels per day. Current production is down by 25%. Siberia peaked at 9 million barrels per day. At present, it produces 5 million barrels per day. As mentioned earlier, America peaked in 1970-71 and current output is only a shadow of its record-high. Furthermore, according to Chinese and Mexican officials, their own biggest oil-fields Daqing and Cantarell respectively are also close to their peak output. The ensuing decline from these two fields alone will create a shortfall of 1.8 million barrels per day! Message 21729909

To: Maurice Winn who wrote (1337)	10/22/2005 4:55:34 AM
From: Wharf Rat	Respond to of 218627

PS..Well, at least your gvt is thinking about it. As of October 2005, New Zealand has the only two national political parties worldwide that have openly taken a stand on Peak Oil.3 Less than a year after initial communications with local activists Robert Atack and Kevin Moore, on 5 May 2005, Turiana Turia co-leader of the Maori Party of New Zealand issued a press release indicating that “all parties must wake up to this emerging crisis... Aotearoa4 is economically dependent on continuing oil extraction from wells very far away, along thin vulnerable transit routes, to support our long-range exporting and global tourism, and underlie nearly all economic activity. All people of this nation, have the right to information and planning, to awaken them to the looming price hikes and shortages of oil for which there are no solutions known, only responses which may soften the blows.”5 On August 18, 2005, the Green Party of New Zealand posted a Peak Oil Toolkit on their website which unequivocally dispels the myth of the magic solution and presents steps that can prepare the nation for energy descent such as a revenue neutral “feebate” for cleaner cars and increasing incentives for renewable energy.6 Jeanette Fitzsimons, one of the New Zealand Greens’ two Members of Parliament, says “give people the facts, let them go out and read the information for themselves, do some workshops and public meetings, have a bit of a road show, so that people have the tools that they need to make the right decisions… for their own lives.”7 energybulletin.net