The 'Peak Oil' Theory: Will Oil Reserves Run Dry?

[MrHEMPKING]

grow hemp and oyster mushrooms, then work from home, and smoke joints in leisure time, massive reductions in use of crude oil, think about it.

[claudelebel55]

Peak oil is not a theory. It's a fact.

[moonsugar1]

Shell are a bunch of fucking murderers. Look at what they did in Nigeria, and to a good man called Ken Saro-Wiwa. (Well if you cant be bothered, they hung him)

I love how he admits Peak Oil is real and yet still calls it a theory! PEAK OIL HAS NEVER BEEN, AND NEVER WILL BE A THEORY! its a fundamental rule of science and math. End of debate.

In total, if you add up all the renewable energy sources like wind, solar, tidal, as of last year it counted for 7% of the worlds power. Thats pathetic.

[yourmajezty]

this guy is full of shit

[bobbygnosis]

"The Global Trading Market is what moves that price up and down."

That market is speculaters. It's psychological. In that sense it is completely arbitrary. Even if you didn't accept that the money they use is not tied to anything. Our monetary policy is as stable as quicksand. That's what the bail-outs were all about - how inherently unstable and retarded the economic system is (including the prices of goods - OIL).

The whole thing is bullshit and he's trying to pretend otherwise.

[Estronguista]

Yeah, this comes from a guy who's an officer in an oil company!!! what else you expect him to say.

[1776independent]

This guy sounds like a drug pusher. The commentators are a bunch of ignoramus's.

[bdist]

Even the unconventional oil is a non renewable resource. It will obviously come to a production peak. It's inherit in the phrase non renewable...

As other's have said, unconventional oil is expensive, and dirty.

[Siddis33]

The oil will peak because we will not be able to pay for the expensive, unconventional oil.

In any case, life will be a lot different in the future.

[Brandonly23]

i hate when they call it a "theory." its been PROVEN, over and over again. when people call it a "theory" they dont understand it. even this shell douche bag says "someday we will peak."

[DarkCalaba]

It IS a theory. Like "special theory of relativity", "theory of evolution", "quantum theory", etc. All have had mountains of evidence coming in for decades. Theory does NOT mean "wild guess".

However, people need to learn the difference between "fact", "evidence" and "proof", despite the legal system assuming all 3 are the same.

There is a lot of evidence for peak oil. It's a fact that many countries have peaked in oil production. The theory is that this will always occur.

[Brandonly23]

Not necessarly, because if we left oil levels where they are right now we WOULD have a virtually unlimited amount of natural gas, which is most definitely renewable. and can be converted into liquid fuel.

[reedy93]

he agreed in a round about way that weve hit peak oil but other alternatives like gas to liquid and the tar sands will keep production going upward longer so we have hit peak oil?

[stacieoz]

fucking cocksucker motherfucker, he's sceptical whether co2 causes global warming!

[Stan1208]

well, well, well. Oil is going back down. The bubble has burst!! Now what are the doomsayers gonna say? A meteor? A hurricane? Perhaps UFOs? LOL. You people.

[16fcali]

Woohoo, finally oil is only 4 times as expensive as it was 5 years ago, not 5x as expensive.

[rewards1dude]

Search for Amory Lovins. We can easily move off of oil in a convenient and economically stimulative manner over a few decades simply by improving efficiency using existing technology. He claims we have 9 million barrels/day sitting under Detroit. He of course means that we can tap this oil by simply IMPROVING EFFICIENCY WITH EXISTING TECHNOLOGY.

[beyondstitches]

we cant run out of oil. ppl in texas are striking oil big at where there they previously dwelled. you can argue all you want but oil is as natual as water. another thing carbon dioxide is GOOD for plants. so saying that it causes global warming is a farce. the main cause is the sun. any real scientist will tell you that. look it up.

[swamimans]

the head of shells us operations. now what dou think hes goin to say. that oil doesnt create greenhouse gases and oil isnt running out. these guys are worse than fox. that asian guy is trying to be white isnt he. geez.

[scrabbleking1965]

That guy talking at the end must be a speech writer for Bush. Maybe he was just trying to make the guy look good who said, "We will peak but it won't be because we don't have enough oil".

[16fcali]

He means that we will switch energy sources before we run out. I really really hope he's right, but I don't have much hope.

[Garcia0384]

The fact that they are resorting to citing desperate forms of oil(garbage shale formations and 6 mile deep ocean pools) is a crystal clear indication of our current supplies if you ask me...

[kosherkarl61]

This John Hofmeister is a lying sack of shit. He is a rich fat glutinous pig by gouging the shit out of us consumers.

[PatrickLars]

Why don't we just go and live the way our forefathers did? With wagons for transportation and a simple life?

[16fcali]

A few reasons: That lifestyle sucks compared to now. No youtube, computers, electricity, or living to be 70 years old.

More importantly: There are six billion people now. It is arguable whether or not that many people can be fed without industrial (i.e. oil dependent) farming.

[lowellriggsiam]

Oil is finite and we will eventually run out.

[776281]

The world takes a little over a week to consume a billion barrels of oil. We are not finding oil at anywhere near that rate, and what we do find is very deep oil that will have "technical difficulties" and be expensive to produce.

[holon67]

lol, this guy is funny. thanks meister man for the laughs. nice face. oh, if you eat less calories, you'll lose weight, btw

[Steadno]

Take this med and stay asleep...

[Iconoclast421]

He may be a paid hack, but he is right about one thing: we wont peak because we wont have enough oil. We will peak because even though there is lots of oil in the ground, it will simply cost too much energy to make it economical to pump it out of the ground. There could be a thousand barrels below my feet, but if it costs a thousand barrels to pull it out of the ground, then it doesnt do a whole lot of good does it? I'm having a hard time believing that hacks like him dont understand that.

[philistineau]

1. Matthew Simmons looks at all countries, not just Saudi Arabia. He examined the middle east, africa, the north sea, brazil, mexico etc. He obviously didn't bother to read Twilight in the Desert.

2. Unconventional oil will not supply the gap from decreased conventional oil production. There is a reason it is called "unconventional".

3. If you burn it, you get CO2. Unless you want to compress and then sequester it underground (fairy tale), you aren't going to reduce emissions.

[526norton]

Matt Simmons is only one of many credible people saying oil will peak soon. Hubbert predicted the peak of U.S oil supply. He was right about that one, and he will be right about world oil peaking. It may be later than he thought, but it will still happen.

[ruckrover8]

He admits peak oil will come but in the same breath says it won't be "because of not enough oil", he doesn't deny conventional light crude may be peaking.

Problem is alternative oils - shale, tar-sands, deep deep deep ocean oil like the new find off Brazil are all very expensive to extract and use huge amount energy and CO2 to get.

The other oil is biofuels - even at current limited production we've tripled world food prices - with global population heading for 10,000,000,000 - forget it!

[Socrabess]

Yeah, this was total bull. He mentioned that they are discovering more oil, but they are discovering less and less fields.

And what the hell was up with that squawk box? Was he supposed to be a skeptic of what that guy was saying? I couldn't even understand what he was saying, he was like insane.

Yet again, they are misleading the people. Not the first time, nor the last, be wary.

[gonjamon99]

This is Simmons reply:

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[gonjamon99]

For those who don't know: "Peak oil" has nothing to do with running dry. It's about running SLOWER and SLOWER, beyond the peak. This propaganda piece was pitiful. What's even more pitiful are the crackpots who say crude oil is not a fossil. :/

[bearsagainstevil]

Matt simmons does take into account unconventional oil this was pure propoganda,you have a thing called energy return on energy invested with unconventional you may be putting in more energy than you get out so its just not going to work .

oil shale tar sand their all smokescreens they need lots of natural gas and water they arent going to replace oil

[gonjamon99]

Yeah this was pretty awful. The best the oil industry can do is set up straw men arguments. It's evident crude oil has already peaked couple of years ago.

[PeterSodhi]

...1.41 - "We WILL PEAK - but it won't be because we do not have enough oil".

1. How is this Debunking Peak oil theory????

2. So what causes the peak????

[UnderseaCaveman]

1:36---Yeah, my logic gear totally ceased on that one too! That was a pretty retarded statement.