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

To: tom pope who wrote (143126)12/30/2010 10:45:20 PM
From: kormac2 Recommendations  Read Replies (1) | Respond to of 206148
 
Tom,

Do you have information which contradicts the statistic that world oil discovery peaked in 1964? plus or minus a couple of years. And that we the now using oil at the rate about 4 times faster than new oil is found.

Note the last two sizable additions to reserves during the last decade were Canadian tar sands and heavy oil in Venezuela (this past year).



To: tom pope who wrote (143126)12/30/2010 11:39:37 PM
From: JimisJim1 Recommendation  Read Replies (2) | Respond to of 206148
 
<At the right price there's plenty of oil.>

And yet when the price of oil went north of $80 the last time (and eventually peaked well above $150), daily oil production did not increase despite "the right price."

Perhaps "peak oil" should be amended to: "peak oil production?"

Jim


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