Dr. Hirsch Discusses Peak Oil on CNBC

[bvssvni]

5.3 billion people depend on 900 million cars needing replacement within 35 years. That's 5 people getting poor every second, 130 faster that people dying in holocaust, 2.7 times faster than people die. Trend today: People getting poor.

[reddnec]

If we aren't running out if oil why did they abandon all the oil wells in Texas? And what a mess they made of the land in the process.

[jrwilson98]

Check the oil prices when the market crashed in 2008. They where $147 a barrel. I said it once and I will say it again. The market will crash this summer when oil prices spike a $140-$150 a barrel. Gas where I live is $3.20 a gallon it will be $4.00 a gallon by this summer and it will continue to increase. Do a search on JFCOM on the web for oil production. They put out a report that states by 2012 the world will be 2000 barrels a day short in production and will never catch up.

[ingeborgsjon]

@jrwilson98 Most likely, a new market crash will happen soon anyway. As long as we stay dependent on oil the oil shocks and the recessions will come closer and closer. Sooner or later this will cause deflation and a recession worse than the great depression. It might not happen this year but within a few years unless something dramatically happens in our view on energy usage.

[jrwilson98]

@ingeborgsjon I guess your last post you where just being factious when you said there are trillions of bacteria magically producing oil.

[ingeborgsjon]

@jrwilson98 I guess you replied to the wrong user? :) I said nothing about bacteria, I only supported what you said. About the abiotic oil it doesn't matter if oil is aboitic or not. It's the production volume that counts, if the oil is abiotic is certainly isn't enough to stop peak oil since the US peaked in the 70's. So anyone who use the abiotic argument must be an idiot. :)

[jrwilson98]

@ingeborgsjon Sorry about that I got your screen name a another person's screen name confused. It was gohomedevils. I hope he was just kidding.

[rhylynd]

@ingeborgsjon Actually, with both QE1 and QE2 which have already happened, the Chinese and Russians have already met with the Brazilians and Indians in secret, they won't tolerate a QE3. There will be a switch to an international denomination. When that happens, there will be a free fall. America will no longer get it's oil for free by just printing more dollars. The rest of the world is sick of us getting a free ride. 18 months, max.

[dqgates]

@jrwilson98 Did you mean 2 million barrels? 2,000 barrels/day seems like a drop in the bucket.. I agree with you fully that this summer has all the signs of 2008 all over again, except we are getting clearer warning signals. If we are truly at the peak plateau, which i believe, then all it takes is for one of the arteries in this global export system to be clogged..which is currently unfolding right in front of us in Libya. This market crash might not be as recoverable though as 2008 was.

[jrwilson98]

@dqgates Yes I did mean 2M barrels a day. Thanks.

[jrwilson98]

@dqgates Also now that we have Military operations going on in Libya that will actually hurt the market not help it. Investors are afraid of Wars, especially when they first start, because they have no idea what is going to happen. The enforcement of a no fly zone is a good example of the Military and the President not having any plan what so ever of a clear mission. Which causes investors to be even more afraid.

[gohomedevils]

All this peak oil nonsense. There are trillions of magigcally reproducing oil bacteria deep within the earhs iron core that periodiaclly give off enormous "Amiobiotical Bacterium Belches" and replenish the earths oil supplys with literally billions upon billions of fresh oil barrels annually. It is just waiting there for humans to use into infinity. This is common knowledge among the world's oil geologists.

[jrwilson98]

@gohomedevils You can not be serious. Oil is made from dead animals and plans millions of years ago. Oil is not being made now. If it was we could go back to the areas we have already drilled and drained and find oil there. You are highly miss informed and you need to quit spreading this ignorance.

[ingeborgsjon]

@gohomedevils Aboitic or not, it doesn't make a difference since it hasn't made a difference to the production volumes. Do you really think the US has been spending billions on importing oil from the ME just for fun?

[MrSixxshooter]

Trucks.we have plenty of it and it's ours.

[MrSixxshooter]

Not yet. If it is ,it's not being implemented . What we need to focus on at this very moment until we could bring that technology to fruition,is domestic natural gas driven t

[PrunVeIes]

how far along is the hydrogen fuel cell technology, can hydrogen fuel cell engines be used in trucks.

[ingeborgsjon]

@PrunVeIes Hydrogen cells can be used for trucks. Diesel engines can be converted to use hydrogen as fuel. But a common problem still persists, manufacturing hydrogen cells takes a lot of energy. So in order to support the current fleet of vehicles the US would have to triple it's electric production, and that would take decades.

[PrunVeIes]

@ingeborgsjon How would diesel engines be converted, are you saying they would still use combustion or would it work like the hydrogen fuel cell cars. How much horsepower can hydrogen fuel cell engines produce and what would be the range. From what I heard, the hydrogen cell engines can produce more horsepower but I never saw a prototype Hydorgen fuel Semi. The US still has hudreds of years of coal but before oil runs out I think we will have nuclear fusion energy.

[MrSixxshooter]

Just walk out if your home and listen . Listen to the sound of the industrial age . That humming noise , the sound of automobiles all around us . If you do your research you will realize that we are swimming in our own downfall. Which is the dependents of fossil fuels .We are in a recession now because of peak oil and peak oil only!! Anybody who does not believe , then you tell me when the the recession / depression will end in the near future. OIL = industrialization = economic prosperity . w

[jrwilson98]

@MrSixxshooter You are absolutely correct. The recession has held on this long for that very reason. Peak Oil. In 2005 the World produced something around 73,680,000 barrels of oil per day. In 2009 the World produced 72,280,000 barrels of oil per day. We are producing fewer and fewer barrels every year. The thing people do not understand is that for every barrel oil pumped out of the ground; we must find a new barrel of oil in a new field just ot stay even.

[MrEnergyCzar]

Hirsh understands that the cheap oil replacements aren't cheap and that we rely on a cheap liquid fuel economy, the alternative liquids aren't cheap and scalable.....

[manderssteve]

Here is a simple solution to Peak Oil when ever it happens. Drill more often, drill everywhere, the faster we can deplete the last of our oil resources, the better off we will be.

You will notice that most people debunking peak oil use few facts, bad language, are angry and so on. The proponents of peak oil are well educated, have a lot of facts and figures, present a logical argument and speak politely. You are free to pick sides for who to believe.

[TheNorweiganHippie]

Peak oil is simply mathematics and science. It is not a theory, it is the reality of fossil fuels, a non-renewable resource. How we come to peak oil is the great challenge, we sure aren't even years close to being anywhere prepared at this time. There is a rising tide of evidence that peak oil has already occurred worldwide. The demand for fossil fuels rises everyday worldwide so our extraction and usage also rises, a vicious cycle with great impact for the reserves left.

[TheNorweiganHippie]

The economy today means energy. All other forms of commerce is the direct result of cheap and abundant energy. People will not be told when peak oil has arrived, it will just happen to them. We may be forced back to a sub-billion population if we don't get the fossil fuel substitute sorted out soon, and that will be one of mankind's most important undertakings to date. Strange times we may see. The whole planet is connected to this.

[davidlee110]

a 4 wheel bike with a trunk like trucks.

that what i getting with metal chanes to lock in for security.

[pat52010]

I am all for energy conservation, but oil is the life blood of this planet.  Save where you can, ie, don't buy a mansion, ie, like Al Gore. If your are retired, do your share and walk as much as possible, if the grocery store is down the damn street!! It's all about common sense, don't be a pig!!

[pat52010]

Peak Oil is bullshit, just like global warming!!

[gotitans999]

@pat52010 It's a law - all finite resources will hit a peak. That's a fact.

[oifex]

It's incredible that they talk about peak oil "therory". You have finite resources, so it is NOT a theory. Common sense dictates that when resources are finite but demand is skyrocking you will run out of the resource very fast. The demand for oil has been rising exponentially for decades. Even without china it is hard to maintain supply.

[cyclenut]

Well gas prices have fallen - but still over $2.50 a gallon. But the "use it up as fast as we can" is STUPID!!!

We know how important oil is for, lets say FOOD. Lets stop wasting oil and save some for our children.... Metal boxes (cars) are not the sollution, changeing america is.

[pohjalo]

Were I live it´s $7.5 a gallon (litre price in euros 1.3). And I think most of EU is on the same level, some southern countries a bit cheaper.

[KrunchyJD]

@cyclenut 100% correct

[Invain01]

4 bucks a gallon is nothing compared to 4 a liter in UK, most places have taxes on oil the states doesn't. Policy is coming down that will increase the tax load on US vehicles. About time

[florgat91]

bunch of crust punks - ragged crap shooters, baby picture thieves ..

I want my baby pictures back !

[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.

[Youmakemefart]

yeah right, Putin also says Russia is a democracy

[secretkgbuy]

well, i do not know how democracy is worst, the american one or the russian one. america there is no democracy there are just corporation parties

[KrunchyJD]

@secretkgbuy I would not believe that. However, even if it was true, its not the amount of oil that matters, per say, its the rate that it can be extracted to meet consumption. Oil shale etc is slower to extract and more costly.

[rhylynd]

this is why the world controllers and the illuminati have planned the world economic markets to crash and go into depression, so that use of oil would plummet. if you can't increase supply, decrease demand. at least it buys a little time. not that it matters. . . . . the end is still only months away at this point.

[Youmakemefart]

Yeah right the Illuminaty.... dude finish grade school and then reconsider posting....

[jrwilson98]

@rhylynd You said this two years ago and we have not gone into any FEMA camps or mass killings. The idea of world controllers and the Illuminati is just ridiculous. This is what people think when the world gets a little to scary for them. They make up bad men doing bad things. Instead of something more reasonable, like the population is 6.7 billion people and World economy is based on cheap oil and that resource has peaked and is getting expensive.

[rhylynd]

@jrwilson98 I never said people would go into camps or there would be "mass killings." And frankly, the resource wars in Iraq, Afghanistan, and now Libya quite fit the bill. What I was referring to as, "months away" was the market crash, which, did indeed occur only eight months later in October and totally changed a third of Americans lifestyles. This WAS the work of ruling elites behind the scenes to reduce consumption.

[pervezak]

Reduce our standard of living????

NO sir, change the way we live. It can be better.

[Bboydisplay]

Honestly, there is no real solution. The debate over whether oil is running out is moot, even if there is ass loads of it in tar sands and oil shale, the money and energy we have to put in to those projects to get anything out is just not feasible. Also, at this point there is no fuel source that can equal the amazing energy density of oil.... so eventually we will have to reduce our standard of living until we can develop (that is if we can develop) an energy source equal to oil.

[ccam96]

Conserving oil and gas is not just an environmental issue, it's a national security issue. What happens when the US runs out of oil while our potential future enemies (Russia, China, etc.) have plenty? It would leave us very vulnerable to attack. So, just keep driving that 10 MPG SUV and don't worry , right??

[kingsman565]

Don't worry by the time that happends we'll be fighting each other with swords and horses, I'm not kidding.

[ccam96]

Oil isn't just about driving. It is the basic starting material for almost everything in modern society... rubber, plastic, pharmaceuticals, higher food yields. Our population explosion and technology expansion has been completely supported by oil. It will end. There will be world wars to get it (Iraq, Georgia, etc.. are all about oil). We MUST move to Nuclear (breeder reactors), wind, solar, etc. just to keep the lights on and switch to EV vehicles. CONSERVE, CONSERVE, CONSERVE!

[ccam96]

neoconcrackaddict- It actually takes almost as much energy to "make" oil from algae as you get back. You can't just make energy. Oil is essentially sunlight energy collected over 100 million years concentrated in compressed algae fields in ancient waterways. We are essentially using a concentrated storage of millions of years of solar energy. Peak oil is real and it will change society and reduce all of our living standards within 10-20 years. Please be prepared.

[PerfektBlue]

It seams that people are to stupid to comprehend the concept of finite recourse ! If you find new oil polls you simply extend the period before hitting peak oil. O and remember our fuel consumption needs to grove in our economy. Well god night USA in 2010 or 2020 you will simply colas in the long energy night with is cool because most of Americans are to retarded to comprehend this concept and the idiots are going to die.

[neoconcrackaddict]

We can make oil from algae. It's cheaper than sucking it out of the ground, doesn't pollute, and it's renewable so it will not run out. The only reason you're not seeing it at the pump is because it hasn't scaled up to production yet, and probably won't for the next few months.

[baysar]

DRILL MORE!! invest in DO and RIG ppl and get rich

[Bredac]

temporary solution for long term problems...it takes 6-8 years to get the oil from the proposed off shore drilling and ANWR...think about how much energy goes into obtaining this limited oil...definitely not worth it.

[baysar]

Yes, you may be right, but drilling companies get paid to drill.... even if they dont get any oil out... As an investor, that would be huge news and would mean massive profits for oil drillers... So if this happens.... take advantage of it and invest your money in Oil drillers

[mrgatorland]

One word of advice, people buy more fuel economy friendly vehicles. Don't drives your SUV's and Trucks to work. Get a small car, a scooter, or bike. Conserve all you can. It is sad to see people driving a suburban with only one person in the vehicle. We must become energy independtly. We are too wasteful and uncaring as a whole. We need to cut back and be thankful for what we have. It digusts me to see people complain about gas when the vehicles they drive get 12 mpg.

[mrgatorland]

If the whole world would rely on nuclear power, it would only supply us for 15 years total. The amount of nuclear waste would be excessive. We cannot drill in certain areas because of environmentalist. But we can all blame them when gas hits 5-6 dollars a gallon in the coming months. Just think the next few years. Of course we will run out of oil, but until we implement new fuel sources, we need to tap into the places that still have oil waiting to be drilled.

[danbuck333]

thats the way use all of it up so future generations have nothing to use

[mrgatorland]

Also, let me say, that what I am about to say never happend, lol. Going against what everyone has been saying about no new oil dicoveries, under colorado, wyoming, and nebraska there is a supply of oil shale 3 contains 3 times the amount of oil the Saudis have. At current US oil demand, yes all the millions of barrels we oil greedy Americans consume, it would provide enough oil from 200 years. The only problem is that every barrel of oil would leave about a 2000 pounds of rocks.

[JoulesBurn]

and also:

1) Oil shale has the same energy content as a baked potato. Just like with potatoes, one needs to bake oil shale to make it useful

2) oil shale has never been profitable, and probably never will be

3) similar to the oil sands of Alberta, it's not the total amount of fossil fuel underground -- it's the rate at which it can be extracted. And that is rather small compared to Saudi wells which gush 10,000 barrels per day per well in their best (but dying) fields.

4) water

[christo930]

@JoulesBurn I am not a peak oil denier, but the problem is really over-stated. Nobody ever seems to understand the price system and how that effects usage. People are going to take less unnecessary trips, they will combine trips, they will buy more efficient cars etc.Businesses will stop trucking and use waterways to conserve etc. Then there is the fact that we can use renewable electricity to pump out oil at an energy loss because peak oil is a liquid fuels problem, not an energy problem.

[farahnet1]

@JoulesBurn -Government -Adding 100 thousand legal immigrants a month thats over a million legals a year.An absurd amount. Putting more strain on our economy. and absurd amounts of traffic on our roads. and landfills.ect ect

This is not counting illegals. Goverment only tells us how much more money they need and never do anything to help american families other than lip service.And retoric. Obama administration only care about the votes.

[mrgatorland]

As a petroleum engineering student who is considering transfering to mechanical or electrical engineering, lol, in the next few years oil prices will go through the roof. The US must install alternative fuel sources to provide the economy with a stable foundation. We are addicted to oil, we are on the oil needle,it is being shoved directly into the main vein of our country. Nuclear is not the answer,we don't even know where to put the nuclear waste we have now. Hydrogen,best bet,but its costly.

[plainjane6476]

Dr. Hirsch has it right. We need immediate action now. Conservation is #1. I still see too many SUVs and RVs on the road this summer. If you lived your life as if gas were $12/gallon today, it wouldn't hurt so bad when it happens.

[dissturbbed]

even though peak oil might be happening oil will never get to 200 a barrel, demand will keep that from happening, most of the world will not be able to afford it and in the process leveling out causing a plateau in prices

[krist300]

see matt simmons discussion about why oil is cheap. oil @ 200 dollars a barrel is about .39 cents a cup. That cup will take a 2000 pound car with 6 people and luggage 2 miles. Try and get a horse drawn carriage to work for that little money. It won't happen. The driver will laugh in your face.

[dissturbbed]

sure if you add in the cars weight and so on, if you look at it from their perspective it is still cheaper to get a horse drawn carriage than calling a taxi

[fatjohn1408]

No 400 won't happen for that reason. 200 and 300 will.

[krisDag17]

I just praying the nuclear fusion takes off and it takes off soon. It would solve our energy problems

[jackzaf]

'Drill more' the moron's song.

[oggleman]

rationing? sounds fun, maybe that will help deflate the american ego a little bit

[jamesrobert2]

Interesting exchange. Very informative. One problem seems to be increased demand in developing markets. Wonder if we will see less exporting, eventually. Wonder if push will ever come to shove. What do geostrategic think tanks have to say? Will push come to shove?

[lisamann]

Poorer nations are going to get the worst of Peak Oil. There will be a process of "demand destruction" which will most likely involved nations on the periphery, freeing up oil for richer nations to devour while they starve. It will be downward tumble down a staircase.

[ukiki2012]

Sad this video has 18,000 views and a video about a guy dancing around like a fucking fool has 30 million...needs to be the other way around, people need to know about peak oil, but even if they did they would take it as a joke and pretend it wasn't going to happen, if this is true then until the world goes into fucking caos people won't give a rats ass...

[Rockety]

dont worry, when you have to decide between tanking up your car or eating these videos gonna be in the top 10 :D

[Golgo13ThePro]

This.

Ppl will get a clue when they can't buy gas, economy gets slammed into an uberdepression, 70+% unemployment, and trucks that bring food to local grocery stores grind to a halt.

Every major oil producer is in decline and we're only finding a small fraction of what we're using. Drilling more won't save us. The only thing that will is using way less that we do now, which cuts much of our economy.

We have to amputate to live.

We'll only survive if we're willing to die.

[meheale]

@ukiki2012 yep

[withoutmercyuk]

grow HEMP

[danbuck333]

and do what with it

[Jusen]

The earth is about to take its revenge on mankind

[primussux]

Good we haven't respected the earth since the 1400s when indians ruled America

[mycatisromeo]

this is all a result of "the american way" killing too many animals, eating fast food, shopping at corporation who dont care about the environment, bad politics who don't encourage education and don't penalize polluting companies, urban sprawl, lack of mass transit. Oil is not the problem, - the environment and overpopulation is the problem that NOBODY IS TALKING ABOUT. The rest is just an immediate crisis - but there is a LONG term crisis. Our ecology is being destroyed!

[scrumptiousvittles]

the internet can liberate the individual from the industrial system. all the knowledge necessary to learn how to live free from the whims of the global economy are there. don't know how to plant an apple tree? look on the internet. don't know how to compost? look on the internet. don't know how to save seeds? when to plant? what to plant? how to make a wood-burning stove to cook it? it's all there if you look. the american dream has been perverted by industrialization. let's reverse that.

[scrumptiousvittles]

sell your car. start walking. get to know and reclaim your immediate surroundings and the people you live next to. we earn and spend so much money so we can get the oil we need to earn and spend more such money and to buy shit we don't need. you can feed yourself on less than an acre. compost your crap. garden everywhere you can. fill the world with edible plants. LEARN about how you can do it. It is far from impossible, it's very rewarding, and it may be the most logical solution to this mess.

[garyneardeathvalley]

Peak oil information has been around for decades and now coming faster than xpected. Start now to begin to live a new life style without low cost energy, and with more wars concerning energy. Do a search and study the issue, as it is real and coming at us like a frieght train with mankind stuck on the tracks.

[ademers85]

Why don't we build some god damn nuclear power plants? It's a lot more real than vacuum energy.

[545lljkr]

Peak oil is a joke.

[danbuck333]

do you actually understand the issues?

because I really doubt it

[bagginshates]

Peak oil is a fraud, just like global warming. Another psy op to control the masses of people. Right now there is a record price per barrel in the midst of oversupply. Iran for instance can't hire enough carriers to float around with crude. Peak oil is a fraud (but this doesn't mean they won't manufacture scarcity).

[krist300]

oh for gods sake i wish you were right. Fortunately people like yourself don't understand the situation, which is good for me because i've made about 30% returns off 60,000 dollars on my investments because people just don't 'get it'. The long people don't 'get it' the more money i will make.

[Golgo13ThePro]

Yeah, these people are excellent contraindicators. If they tell you that the oil shortage is a scam, then bet on it as if it were a sure thing and you can't go wrong.

[bagginshates]

Just like I made a ton shorting oil all the way down from $147. Peak oil = scam. Who do you think benefits from this idea? And why aren't we just a little skeptical of Matt Simmons, friend of Cheney and an oil banker?

[KrunchyJD]

@bagginshates OK, you be skeptical, and encourage everyone to keep consuming oil, then when the price goes way up, dont complain.

[milofonbil]

What could help this problem is to get the public to understand it. We need to start by using the rest of our energy more wisely. This means conservation. This means more public transportation. In the mean time, I assume that gas guzzlers like Hummers and Cadillac Escalades will go on sale while the good stuff - hybrids, plug-in hybrids and electric cars will be hard to find.

[apatheticbuddha]

This stuff your referring to is just not true. Energy from the vacuum is a pipe dream and has been proven as such.

[milofonbil]

Don't even bother responding to spammers. Just mark it thumbs down and click the spam button. Stupid ads like those need to be dumped from YouTube.

[JoulesBurn]

Now, the JR Ewing explanation I like! Plus, don't your remember that he blew up his brother Bobby's refinery?

[dugfriendly]

Wow. The dude invokes Brazil as a model for behavior. Removing vital and diverse rainforest habitat to monocrop for ethanol and biodiesel. CNBC and their "market-porn experts" are fiddling while Rome burns.

[maaarshaaa]

The second man being interviewed is not talking about biodiesel or ethanol. This man is talking about the recent oil discoveries off the coast of Brazil (a few miles off shore of Rio de Janeiro). I believe they're coming online in the next few years. However, at the rate we're consuming oil, as large as these new reserves are, I'm sure they won't last long

[pursuitofinjustice]

the brazilian discovery contains 8-33 billion barrels of crude. even if the 30 billion estimate is true, which it probably isn't, that's only enough oil to satisfy current global demand for under a years time... but of course extraction doesn't work like that, the discovery is deep off the coast under a salinized crust, and will take 10 years to come on line.

what people don't understand is that peak oil is ALREADY effecting the world. why would the u.s. occupy iraq for 5 years+++??

[carlesls]

Saddam wanted to sell oil with euros instead of dollars! that's the real first motivation of US invasion.

Maybe to steal some oil reserves too...

[milofonbil]

Steal his own oil reserves? I don't get it.

Why don't you Google for L. Paul Bremer and look who has all of Iraq's oil reserves now - Chevron, BP and Shell. The motivation was for the Bush crime family to steal the last of the oil. This is why they don't care about N.Korea's nukes ... but have to go after Iraq and then Iran and Venezuela. (to secure their national interests) But the losers could not even get out of there with the bacon.

[milofonbil]

We need to quit spending money on the monkey in charge's pipe dream ("I'm the greatest war President that ever lived"), get out of the money draining perma-war and do something real - get out of this oil mess by really getting renewable energy off the ground - Wind, Geothermal, Solar, Hydro, Biomass... Electric cars are about 8-10 times more efficient than gasoline cars. Forget nukes - it's going to do a peak uranium thing just like oil.

[qlty4s2u]

It appears production has peaked at 85 million barrels per day.The demand from the last I read is 87 million barrels per day.We had a chance to advert or at least soften the impact of peak oil but we did nothing.Now the price we will pay may be complete economic collapse.

[milofonbil]

We need to get our butts out of the perma-war. I can't imagine spending trillions of dollars to complete Bush monkey's pipe dream (so that he can be the greatest war president...). McCain has similar war hero fantasies. Stop Bush's wet dream, get out and get on with developing real renewable energy.

[carlesls]

Peak Oil must be hidden...if people realise the volum of the hyperinflation, it could be catastrofic for oil prices stability, so shuot up!

[sickliberal]

yeah, shutting up will mean the oil replenishes itself forever, of course. standard economic theory.

[carlesls]

Yeah, Who cares reality? ah ah...

[cavenaghkristina]

please.

[rotinek]

Abiotic oil is a joke. Do you have any comprehension of what rate we produce oil from the Earth?!! Usually 10's of thousands of barrels per day just from 1 single well!! How long do you think it takes for organisms to break down oil shale/sands? Wake up you ignorant Fc#k! This is the coming apocalypse...

[xenix2012]

The sounds of the trains, planes, and automobiles in the background only adds to the authenticity.

But serioulsy, there are smart people, very smart people in this country who to this day deny peak oil. People who should know better.

Then you have the ass clowns running for president and not one one of them, not one, has even brought it up as a debating point.

Bill Clinton has been personally briefed by Matt Simmons, so has John Edwards, so there's no exuse for this.

NONE.

[stevo9er]

Ride a bike, build some trains. America is ridiculously stupid.

[7boon]

Things are going to get real bad real fast.

[SolitonPL]

FED created inflation is primary reason of the oil price!

[KARStarla]

Have you guys watched these two video series?

"The Non Energy Crisis" By Lindsey Williams"

and "Syndrome of control" by Lindsey Williams?

Both are a series of parts (1-9) here on youtube. He testifies to TWO huge oil feilds owned by the U.S capable of sustaining us for 200 YEARS easy.

His videos are really remarkable and packed with information

[danbuck333]

Ive watched him he really sounds like a preacher of god , took a hour to explain something he could have done in 2 minutes and didnt do it particually well , no real evidience just life stories

[Salmo77]

WOW, and then what? 200 years is NOTHING!!!

Can youge that? Nothing!!!

Time to look forward for other energies and FAST, before we're all fucked!

[KARStarla]

200 years is "something" to start with. They know very well we have "zero energy" and "zero emmission" sources already, its most likely not "profitable for them" though its extremely economic for the people. They have air cars already in production in Austrailia I believe, and hydrogen fuel cells along with electric here. Not only that but a zero energy home generator (costs nothing to run) overseas.

Dont even Bush have a 100% solar powered home somewhere also?

[1Copenut]

Peak oil is a theory. At this moment it seems to be a convenient one to justify the $130+/barrel of crude the world market is paying. A crackerjack load of oil has recently been discovered in North Dakota, Montana and Canada, perhaps billions of barrels. Maybe it's time for Big Oil to earn those record profits and do something for its country. And maybe we use that oil to buy some time and develop a REAL alternative energy policy.

[danbuck333]

north dakota and canada were discovered several decades ago the only reason they havent been used is because it hasnt been economically fesable now that oil is that high you can finally make some money out of it , but this just reinforces the point if you have to go after hard to extract expensive oil then we are runnuing out of cheap oil and the world runs on cheap energy

[danbuck333]

the peak oil theory has been around for 50 years or more , because of the simple fact that oil is a finite rsourse, now all of a sudden when supply hasnt keeped up with demand for the last 4 years , people say peak oil is convenient , after 50 years of warnings id call it stupidity

[kingreich22]

Fox news would never touch this!

[bionicbrainbutt]

Its not a "Theory" you stupid bitch.

[2spindown]

dyambl's comments strike a chord. The next 10 years will indeed be interesting. I fear that the next 50 will be tragic with resource wars, the balkanisation of states and demise of central authority, agricultural collapse and mass starvation, the fall of civilisation, a gigadeath and a dark age. That is the measure of the magnitude of the problem that peak oil alludes to. Any solution needs to be enormous in order to have any chance of succeeding. The world uses 13.66 million m3 of oil each day.

[tompaah7503]

I feel a bit sorry for people born in 1990-2000 or later. Previous generations all got it slightly better, year by year. These new folks are going to have it worse, year by year. How does one explain that to a child, that every month it's going to get a bit worse?

[stonerj0e]

we need to get rid of china. PERIOD.

[yogiudo]

That is so ignorant.

Good luck with that by the way.

[pduffy4]

Peak oil is a fraud. There is enough crude oil for at least 2,000 years. It is a money making fraud.

[BanjoNaps]

were are you getting your data from?

[jussisaurio]

he's a NWO conspiracy theorist who'll believe anything that fits his tin foil religion.

[BanjoNaps]

I see.

[pduffy4]

Lok up 'peak oil fraud' on you tube and watch the videos. and to those that have thumbed down by truth full comment you are assholes IMHO.

[BanjoNaps]

Hey man I just asked for a source! Personally I think their is a 50/50 shot that we are at peak right now, and if we are its because of a mixture of unstable nations and disinvestment, not reserves. Abiotic theories have their place in their as well. I mean, we have found hydrocarbons on other planets, so we don't know if they are even organic in nature. I think we can all agree that it would be best to stop burning the stuff though. The technology is dirty an inefficient. I didn't thumb downs.

[pduffy4]

come on, it's an obvious scam. if something is 'scarce' like gold then you can charge more for it. this is the ruling class practicing their eugenics. do a search for 'Ian R Crane' on google he has a DVD about peak oil fraud, he was 20 years in oil business. The real pisser is that we don't need poluting oil as we could have Tesla 'Zero Point Energy'. free of pollution and cost we could have had it 100 years ago. Monsanto are destroying the environment also with GMO their 'Round-up' is a killer!

[BanjoNaps]

couldn't agree with you more on oil being a scam in the sense that we could get all the energy we need from so many other sources. I really don't think that they are bumping up prices on purpose. I think our the petrol dollar is coming apart. It smell like empire collapse to me. Scam or not market forces have the last say in reality. Its not about reserves its about production, I don't care if their is enough oil for 10,000 years. Mal investment has left production at 86mbpd for three years now.

[ilexwhite]

Who, exactly, is making money from peak oil?

[kingreich22]

Fox News

[dyambl]

Easy oil is reaching its final chapter. The next 50 years is going to be interesting, to put it lightly. I wonder how long the general public's ignorance on the matter will last.

[intigfx]

at LAST someone that really knows what's going on is allowed to speak on mainstream media. but very likely his intervention will be lost in the mass of wishful thinking about prices being presumably caused by speculation, supply and demand, etc.

BULLSHIT.

when will the public understand that oil doesn't just magically appear? this is a small planet, and as our consumption grows its reserves diminish even faster.

[babarji]

ha ha ha - "you paid almost $4 a gallon". Well in the UK we already pay nearly $9 a gallon. Ranked in order of price paid at the pump, the USA is 111th, and yet it consumes about one third of world oil production.

[trumpdabeast]

Yeah, and in the UK you have more available mass transportation and generally shorter commutes. That is NOT the case in the US. Also, we consume more gas, it makes production cheaper, thus our gas prices have been cheaper in the past.

[shaktimandan]

Although one major difference is that the US has the worlds least efficient fleets of vehicles. Until people realize you don't need a Hummer or monster truck to drive to Walmart, I don't see anything changing.

[trumpdabeast]

Well, back when we had open roads and lots of space, it made sense. Who wouldn't want room to carry seven people if it's not costing oyu much extra? It still does make sense, except they're extremely expensive to run now.

But I agree, until people change their consumption habits, nothing is going to change. Personally, I ride my bike more than I drive.

[babarji]

actually tax accounts for much of the difference in price - 70%+ of the price is tax

[LastReplaySC]

In most of Europe Tax is at around 70%. Some countries are already paying Co emission taxes ... the tax list goes on an on .... basically most in Europe are working for basics and are just above the local poverty line most of their life as it is, when demand rises & Supply get unpayable ... your gonna see food riots and economies crashing by the day.

[ottouk77]

I find it amusing that the oil hawks rant about drilling more in the US. They continue to behave as if this is an American problem. Unfortunatley this is a global problem, and any small increases in production off the coast or in Alaska will only slightly delay the inevitable. Its not wrong to drill more, but it wont change the outcome and wont change the prices significantly. Hirsch recognizes that fact.

[profgoose]

I hope you all will google The Oil Drum to learn more about these issues.

Hirsch is dead on here. Learn all that you can.