11-1-05 -- "Peak vs Deep Oil" - Full Segment (7:39trt)

[Bernadotte01]

Nobody ever claims that the tar pits in which fossils are so well preserved are a product of ... fossils.

But the cartoon fiction of "fossil fuels" says exactly that.

It is a backwards and retarded faith-based explanation designed for the perpetual perception of imminent decline. Only a naive child would buy it.

Since 2008, U.S. oil reserves have grown by 50 percent.

Petrol-fueled life flourishes in the Gulf of Mexico, and it preceded photosynthetic life on earth for a billion years.

[MrEnergyCzar]

If you switch to ethanol you'd need to use all farmland on the planet.

[MrEnergyCzar]

Most countries are past their productions peaks so the global oil peak has to happen....

[bweazel]

Righttt. And it was a very real threat in the 70s too when you guys said it would first peak. Peak oil is nothing more than an excuse used by commodity brokers to drive up the price of oil. It's their de facto tax to keep oil profittable and keep oil a staple in our economy. There are better and safer things for this planet that could sustain us forever, except, they're either illegal (hemp) or too expensive (compared to oil) for markets to pick it up. Peak oil is propaganda, don't take the bait

[TheRoyP]

1.2 trillion barrels of 'proven reserves' (some are only proven because honest nations like Saudi Arabia and Iran say so) will last about 41 years at 80 million barrels a day.

The increasing affluence and size of the worlds population will increase demand above that level & that is by definition 'Peal Oil'.

[bweazel]

Haha good. The faster it goes the better. Except it's not going as you can see. 41 years? Right if you payed attention to the peak oil pushers of the 70s, we should already be out of oil by their predictions.

You are spouting the same crap the "elites" do. Population control and price control is what you're saying, I hope you realize it. I spit on anyone who says we have a population problem.

[BikiniBabe1985]

There is absolutely zero proven evidence of the abiotic theory. I read Thomas Gold's book and can say that he is a total nutcase. The destruction of the dollar by our government's reckless spending, borrowing, and printing of money is what is driving up the cost of oil. Both of these men somehow miss that point in their discussion.

[bweazel]

Speculation is the only thing that drives up the price of oil. It has nothing to do with how much money the US government spends, or else oil would be about 300/barrell today.

The oil market is completely controlled and fake, and as all other non perishable commodities is fully controlled by the futures market. As you may or may not know, futures depend on the expected price of a commodity at a future date, the value of the dollar is never considered until the contract is paid.

[secretkgbuy]

Russian Premier Vladimir Putin says research shows that Russia has enough oil and gas for itself and for Europe for the next 100 years.

[leduck327]

Peak Oil VS Deep Oil?

Deep Oil doesn't matter because it's not cheap oil. Regarding Peak Oil the only question is when not if.....

I don't take abiotic oil seriously enough to respond.

[martyR13]

woo hoo, we're never running out of oil! the american way of life is non-negotiable. let's keep the car running, woot-woot.

[macrosense]

deep oil is the same as peak oil. it just moves the time frame ahead a few years. but the stuff is enormously expensive to extract.

[guy2008rules]

Is diesel like gasoline or is it something diffrent?

[foxrat123]

How did decaying dinosaurs get 20,000 feet deep? There is oil 30,000 feet below the seabed in the Gulf of Mexico. There should be evidence of the creation of so called "fossil fuel" in some intermediate stage of development. Did all these animals and plants die at the same time, and somehow change to oil at the same time, all over earth?

[mogyi69]

there is fo0ssil oil, dinosaurs played less part but in general, this is not something g that is created now too (ok, now too I gues but not in human existence therms)... as it is stated HERE...

[todaysissues]

Coal, just like oil, should not be used as fuel - because these things are more valuable as "chemicals" and as "raw materials". For example, coal is required for the 'reduction' of iron ore for steel production, just as oil is a raw material for a million products! Thus, if we use coal, oil amd gas as fuel to burn, then we will lose these valueable resources as chemicals for other purposes. Visit dieoff(org) website for more.

[nemnaisa]

Matt Simmons does not need to defend much because the truth is: Peak Oil is reality. The other guy is vocal because he is on the wrong side of the issue. The theory of Abiotic Oil is just dead wrong.

[geeleegoat]

Can you elaborate on your correct theory? Can you explain the chemical process whereby the tissue of dinosaurs is converted into all known hydrocarbon species found in crude oil? Probably not, because no one has proven this. We do know for sure however that Saturn's moon Titan, for example, is literally awash in hydrocarbons (i.e. OIL). Must have been a lot of dinosaurs on Titan eh? Remember how top scientists of their age thought the earth was flat...well you know the rest of the story.

[agonizingpaines]

lmao I dont agree with your statement, but "lots of dinosaurs on Titan" rofl!!

[Golgo13ThePro]

The molecular structure of hydrocarbons can often be directly linked to pigments, chlorophyll, leaf waxes, etc. of species that biology and paleontology tells us were dominant at those places during times when oil formed.

Oil can be formed abiotically. This is no secret to geologists. There are a few known examples of this, but this oil tends to differ in identifiable ways from the usual variety, and is by far miniscule compared to our oil needs and reservoirs of organic origin.

[Salato]

Hahaha, listen to those two guys deny the problem. Oh wow. Price spikes and people starving? Oh, I'm just watching the news. Peak Oil is here guys.

[JanneJH]

$105/barrel now and rising. Better leave those SUVs and Hummers to the stores and invest on small cars

[JanneJH]

Update: 116$/barrel and going up... I read an interesting article about oil. Economist believe that oil price will drop to 80$/barrel because investors have created oil "bubble". Because Investors has been selling cheap dollar for oil... Well, we will see...

[Golgo13ThePro]

$140 a barrel now.

If the price of oil is being dictated by speculation and not supply/demand, then where's all the oil that didn't get sold because the price was too high?

It's nonsense. Demand is driving price and supply is contracting due to declines from existing fields.

Simply put, it's peak oil.

[daltonagre]

I'm an agronomist.Here in Brazil,a brent of ethanol costs just US$40 to be produced.Plant sugar cane and forget the islamics.

[easuter]

Once again, by using ethanol, you are creating a dependence on a finite fuel.

If you intend to replace oil with ethanol entirely, then you are going to have to chose between putting food on your table or putting fuel in your car.

[r4b18]

That's true. Have you seen the price of grain?

You nailed it Easuter. Now, if "peak oil" is a myth, who should we hang?

[freedomman121]

And to think Diesel designed his engine to run on peanut oil.

Our entire dependence on oil was a scam from the start.

[arizonaresident1]

I wish it was that easy daltonagre. This country is run by politicians, and they get handouts by lobbyists and big business. That is why we are using corn. The citizens of US don't make all the decisions like you may think, or how it's "supposed" to be run. We elect rich people who can afford to run into office, and they do as they like when they get there.

[bustermk2]

Abiotic oil is only a theory ... and not a particularly convincing one. Put unrefined oil under a microscope and you will see evidence of the organisms from which it was formed.

Even if abiotic oil was true then even it would be finite.

[geeleegoat]

What evidence? How do you know microorganisms didn't get trapped in the oil? How do you know microorganisms didn't seek out oil as an energy source (e.g. there are bacteria that feed on hydrocarbons). Finding bacteria in a drop of water does not mean the bacteria created the water. Since bacteria are well known to inhabit rock deep in the earth (exactly where the oil is) I would be surprised to NOT find evidence of microorganisms in the oil. Their presence does not imply causality.

[Golgo13ThePro]

Usually when people dig into oil compositions, they find biomarkers like hopanes/phytanes and such. These chemicals can be traced directly to the lipids that make up cyanobacterial cell membranes (and only those membranes), or to the wax that coats the leaves of some extinct tree from Tasmania - and fossils of the same leaves are found 100 km away in coal of the same age.

[Golgo13ThePro]

Oil is also carbon-based, much like life. Nitrogen and porphyrins, found in living things, are found in many petroleum deposits as well. Porphyrins,cannot survive temperatures of more than around 200 degrees Celsius, common deep below the earth's surface.

A very important clue is the fact most oil occurs in or near sedimentary rocks of marine origin--if oil was leaking up from deep within the crust, we would expect most of it to occur in assorted rock near fault lines instead.

[tlacoyo1]

so mi science teacher was wrong when he said that hydrocarbures come from fossils...i shouldnt have failed that course then ...

[alanhowitzer]

The EIA's numbers aren't written in stone either. They said oil would be $30 a barrel right now.

[znita07]

Booja,

I suggest you read some books on Petroleum geology.Oil migration paths,source rocks and cap rocks(seal) are the main keywords for you to read and understand.TQ

[neothomist1275]

Part II "We're stuck with these powerful controlling forces, and will be - thanks to a dumbed-down electorate - until it's too late to do anything about it." -- Joel Skousen

[neothomist1275]

Part 1 "Yes, Peak Oil is coming - not so much because the supply has really peaked, but because the manipulated supply is peaking. The U.S. is withholding vast Arctic and offshore resources in order to keep an ace in the hole for the coming war. . . . There has been a conspiracy to restrict refining capacity and buy out the little guys to cap supply - and that isn't likely to change in our lifetime.

[Bo0ja]

The deepest fossil ever found has been at about 16,000 feet below sea level; yet we are getting oil from wells drilled to 30,000 and more. How could fossil fuel get down there? If it was once living matter, it had to be on the surface. If it did turn into petroleum, at or near the surface, how could it ever get to such depths? What is heavier, Oil or Water? Water: so it would go down, not oil. Oil would be on top if it were "organic" and "lighter." Oil is neither.

[gjkmn99]

Have you heard Lindsey Williams on "the non energy crisis?

[uzebdrumz]

Fine, but the energy stored in the oil has to come from somewhere, does it come from within the earth? From the magma or what? The non-abiotic theory is based on stored solar energy, so where does abiotic oil get all it's potential energy?

[bpursley]

Titan is a hydrocarbon moon. Therefore hydrocarbons are abiotic.

[alexpasch]

Not all hydrocarbons are the same.  Methane is not oil.

[claudesv]

Abiotic Oil Theory is the only one that makes sense because don't neglect 2nd Law of thermodynamics.

[UnderseaCaveman]

It's actually too bad that there is so much confusion on Oil. Matt Simmons rules, period. Dr. Colin Campbell also rules, as does Chris Skrebowski (editor of Petroleum Review).

If the earth is producing "abiotic oil" at a fast enough rate to sustain our wells, we would also be walking in puddles of oil.

I recommend watching some of the media online on "Exponential Growth, Population and Energy"... Remember the doubling period.

[riction]

Part 2:

Also, you must ask that if oil is not finite and can be gotten at will, why is the U.S. importing any (much less 2/3rds) of its oil needs.

[rockbag]

Why are the once empty fields of Pennsyvania spewing oil again, I thought those wells ran dry? By the way, it's abiogenic, not abiotic

[riction]

Part 1:

Wow... an "abiotic oil" believer... It's funny that with just a little experience of reading at theoildrum, I can refute all of what that optimist says, including the fact that the "proven reserves" figures were doubled (with no significant finds) in the 1980s, and that there's no evidence whatsoever that oil comes from anything but organisms that died millions of years ago.