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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (122181)	7/12/2009 5:14:24 PM
From: JimisJim	11 Recommendations Respond to of 206135

elmat: as I have posted here at least a couple of times, it simply does not matter whether oil is a fossil fuel or abiotic in origin. What matters is how much can be pumped out of the ground and refined every day... day in and day out all over the world... and what we learned in the past five years is that no matter how cheap or expensive oil above ground is, the world hit a ceiling... it could not get any more oil out of the ground over a five year period regardless of price or demand... That suggests that the problem is not whether or not there is endless supplies of oil in the world. The problem is getting it out of the ground and into usable form day in and day out -- that limit is the limit that counts and renders any argument about fossil fuel oil vs. abiotic oil pointless... The discussion should shift to how will we get more oil out on a daily basis -- over time and every single day, not just for a month or six months, but continually. You can die of thirst even if there are billions of gallons of water beneath you in an underground pool if you can't get to any of it. Peak oil? Endless supplies of renewable abiotic oil? Who cares if we can't produce enough of it every day to use it. It's really about peak production -- that's where the rubber meets the road in oilpatch. Jim