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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (10724)	6/2/2010 1:05:12 AM
From: Wharf Rat	Respond to of 24232

Good intros to peak oil... Peak Oil Overview - June 2008 (Pdf and Powerpoint available) Posted by Gail the Actuary on June 26, 2008 - 2:00pm This is an update of my Peak Oil Overview at March '08. The major changes since my earlier post are the recent apparent decline in Russian production, the new ASPO peak oil projection, and discussion of the recent consumer producer summit in Saudi Arabia (slide 14). I also mention the expected change in IEA's November 2008 forecast of world production. This is a summary of the peak oil story at June 2008. The major themes of this presentation are • The US oil story • The world oil story • Five myths theoildrum.com == Peak Oil Overview - July 2009 Posted by Gail the Actuary on July 20, 2009 - 9:07am Most people who have read a little about peak oil have heard that US oil production peaked in 1970. This happened, even though oil companies have been working as hard as they can to keep production up. Oil companies have even applied enhanced oil recovery techniques to wells where it looked like doing so would be profitable. After the US mainland (48 states) peaked in 1970, extra effort was expended to ramp up Alaskan production. It soon peaked as well, in 1988. Figure 1 - US Oil Production, based on data of the US Energy Information Administration. The question now is with respect to world production. The price of oil isn't very high--is there any possibility of a near-term peak in world oil production? Lower prices would seem to suggest there is no problem. It seems to me that if we look closely at the situation, world oil production has likely peaked, even though prices are not behaving as most had expected. Furthermore, the peaking of world oil production seems to be a major cause of the current financial crisis. The tie of peak oil to recent demand destruction points to a possible continuing destruction in demand in the years ahead, with oil prices fluctuating, but not necessarily rising to great heights. theoildrum.com