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

To: Archie Meeties who wrote (127600)	1/18/2010 12:02:34 AM
From: Jim P.	1 Recommendation Read Replies (1) \| Respond to of 206121

Yes, for certain. Easy oil developed and exploited first. Peak light crude oil has already occurred. It will go down the grades until increased production in lower quality crude cannot overcome depletion of the easier oils. My 2 cents. jim

To: Archie Meeties who wrote (127600)	1/18/2010 6:42:07 AM
From: Bearcatbob	Respond to of 206121

I do.

To: Archie Meeties who wrote (127600)	1/18/2010 8:29:07 AM
From: CommanderCricket	Read Replies (1) \| Respond to of 206121

Agree with Jim, peak oil for API 32 and above is already behind us. The light, sweet crude is depleting much faster then we're finding new sources. For the remaining crude production (not reserves) under API of 30, we may have already hit peak supply in 2005 or 2008 but think we'll struggle along for a few more years. I haven't seen any data that even suggests supply can go above 90 million bbls/day. We've got plenty of reserves to last another 50 - 100 years but it won't be coming out of the ground cheaply or quickly.