Myth: The World is Running Out of Oil (Peak Oil)

[Vansit84]

Stop making sound arguements John. God!

[Go2thebeach69]

the fact that we are going to tar sands says it all

[mactekos]

If you drill deep enough, you hit oil. With kind of blows the "oil came from dinosaurs" story out of the water. That is unless the gooey dinosaur remains seeped down there somehow.

[mahballzrhari]

i am all for conservation, reducing dependency on oil ( notice i said reduce dependency as oil is vital in all spheres of human life), reducing pollution, more fuel efficient vehicles, more R&D towards renewables but i don't buy the doomsday scenarios.

[Esoparagon]

Price goes up, profits go up, capital and innovation flow in, new methods are produced, new capital creates new machinery, then you've got a new paradigm, supply goes up, price goes down.

[Jamato84]

LOL the map at the beginning shows the US being a larger land mass than Canada....you wish, America!

[HDaviator]

@Jamato84

Whats the point of being larger if most isn't habitable?

[McScreamo]

@Jamato84 Who cares? We're a much more powerful country than Canada.

[JorJor812]

@Jamato84 No one likes canada.

[Turbo05Dodge]

@InhabitantOfGalaxy and you will use?

[22knowa]

Hemp is the best choice

[populartechnology]

@22knowa

Banned. All pot head drug addict losers will immediately be banned. For anyone that does not have brain damage due to pot or has been sold on the propaganda please go to populartechnology (dot) net/2008/12/anti-marijuana-res­ource.html

[populartechnology]

or Google: "The Anti Marijuana Resource"

[PrinceG28]

Who gives a FUCK if we find more oil it's non-renewable and not good for the ENVIRONMENT !!!

[liquidgee13]

@PrinceG28 The Sun is a finite resource too as it will eventually burn itself out in several billion years too.

[masitello09]

if the price goes up will the average American be able to afford oil and energy? 

[flyoverjoe]

@masitello09 Check out Basic Economics, by Thomas Sowell, at the library. It covers topics like this in plain language that even dopes like me can understand. I think It will put your mind at ease.

[WoodlandRavah]

@StupidEco-NazisWorldwide

A-biotic oil comes primarily from traped volcanic gases, how long will the Earth's core be "steaming" for you think? A long time in my opinion...

4.5 billion years of this s@#$ and you think it's gonna come to a screatching hault because humans come on the scene... pathetic.

[Turbo05Dodge]

@WoodlandRavah lol the anti humanists are hilarious, they have been programmed to think humans are a diseased/parasite.

[CrubbDaTubb]

This is correct. There is loads of oil and the earh is not warming up at all. I am sick of the environmentalists lying to the world. I for one will burn everything I see

[KevZen2000]

Making the billions, lets the scam run on.

[BigAlzer]

i have a friend who was hired by the petro chemical industry he tells them how to get oil out of the ground............. and i know what they say about alberta is true.

enough to supply the world for a hundred years.

[glitchesandglitter]

pretty damned interesting. 

[honeylips01]

loooove this!

[michwng]

"The solar system is a finite resource"

[bootybandit6]

haha look how much smaller canada is than the states at :31

[Dev1lB01]

@bootybandit6

Canada is larger in area than any country in the world except Russia.

[medialies100]

The worlds resources are infinite? Sweeeet.

[PizzaguylolXD]

Good video. You'll get a lot of doomsters that cite crap by Savinar and Simmons but I learned to disregard those pessimists a long time ago. If the entire world thought like them we'd still be in the dark ages.

[populartechnology]

@PizzaguylolXD

The late Mr. Simmons is the largest recent source of the peak oil hysteria. He is completely debunked in a paper title "Crop Circles in the Desert: The Strange Controversy Over Saudi Oil Production" by Michael C. Lynch. You can find it online.

[EyeAmTheIlluminati]

@populartechnology The Peak Oil hysteria is all about maintaining the status quo for the global corporate/government elites who are terrified that market forces will eventually tear apart their monopolies and spread the wealth naturally. The Bilderberg Group/Trilateral Commission/CFR exist solely to maintain the financial and industrial power structure that has existed for hundreds of years. Simmons was a member of at least one of those groups (CFR) and he was simply playing his specialized role

[DoublePines]

yes finally a dude that speaks the truth about peak oil

[trakkaton]

Stossel - the never failing contraindicator

[MikDonsen]

Why is the map at 31 seconds super distorted, it looks super wierd.

[grahamhg]

Where's the explanation of EREOI? Tar sands will peak out in 2015 at 4-5 mbpd. 

[populartechnology]

@grahamhg, The link is in the description,

Google "Thermodynamics and Money"

"Eroei--a sophomoric form of thermodynamic accounting--is always negative and always irrelevant." - Peter Huber, Ph.D. Mechanical Engineering, MIT



[TylerMontana]

we haven't even scratched the surface yet. We started using oil excessively only for the last 50 years. People do forget this is a big planet. You could compare it if you try sticking 30 needles into a watermelon and wait how long it takes until all the water is out.

[mr00jimbo]

I wish I could look that bad-ass with a mustache. No lie, I kind of want to grow one now.

[WoodlandRavah]

@mr00jimbo

LOL mustache says porn star, not "bad ass", go for a goatee.

[flirtwd]

these are the biggest lies I've ever heard! The oil has peak. Why the fuck you think we are in the middle east. We have built Sadir city a military base bigger than vatican city. We are there to stay to control the oil.Oh and how the fuck can a finite planet have infinite oil? Dumb america fucks!!!!!!!!

[userxo1]

awesome too bad we will just give it to shell for a pittence for land use from BLM and they sell it back our own oil at as high a price as possible. ya know what will drop oil prices? if we invade and occupy a middle eastern country..then give the oil back to shell(/any other oil comply). time to recover some of the cost of liberating that middle eastern country with free sweet crude ;)

[rockerravers]

jajajja "we have a lot of nuclear resources"

We only have more for like 15 years or so AND you can't build tires and plastic out of nuclear materials

[populartechnology]

@rockerravers

Not true, there is enough Uranium to last over 2500 years using fast breeder reactor technology (IAEA)

Google "Global Uranium Resources to Meet Projected Demand"

[CyberAthletethefirst]

@populartechnology yeah but you still can't make polyester, raincoats, pertochemical fertlisers, e.t.c. e.t.c.

[populartechnology]

@CyberAthletethefirst

Of course, which is why petroleum will continue to be needed. This is not a problem regardless of actual reserves as we can turn trash into oil if need be. Google "Anything Into Oil".

[rockyjuneau]

we have not even scratched the surface of recoverable oil.

[circusboy90210]

yes vehicles will be bigger stronger and yet more efficient at the same time.oh and probably fly. but true enough we are not about to run out.

[smell0my0nipples]

sounds like a smart guy

[moniequa]

We will never run out of oil.

[kevinwayte]

Funny how they start with the Tar Sands.  Sorry, but that's our's bitch. (Canada's) I am Canadian, and when the shit hits the fan in decades to come, we will be deciding our own future as a nation and locking down our own supplies to maintain our way of life well beyond the USA going dry. Canada can live off those sands for 100 years, the USA could consume it in 20 years. As a Canadian, do you think I care about exporting?

[HandyMan101]

@kevinwayte No, but I would like to see the standing army you'll have to defend those resources.

[dave19941000]

@HandyMan101 If thr US invaided Canada 7 000 000 Canadians at the LEAST would hear the call to arms, no to meation the UK and austrailia would join us as constitutionaly we all have the same ruler.

[mjonausk]

@dave19941000 I am australian. I am sure all commonwealth countries would help canada. But I have no doubt we would get our arses kicked. The US has just to much of a technological edge for anybody on this planet. Best thing would be to play dead then fight them Taliban Style.

[princepersia1]

@mjonausk I'm sorry but even though I'm an American our country is in huge debt, we may have a huge military and advanced weapons but we can't afford to use them. War isn't as simple as power, nobody wins in war, it's just a matter of how much you lose by and we're getting fucked by the Taliban in Afghanistan who have nowhere near the technology we have. I don't think we could win a war against a few COUNTRIES. People over estimate the US's ability. It's such a huge bluff.

[TunaHelper64]

@dave19941000 hahaha good one. If we invaded Cananda the war would be over in a month, good luck training thzg 7 million man army in time. Oh and the UK and Austrailia don't give a shit about you. Even if they tried to stop us they could never get past our navy which is just absurdly powerful. Wake up man.

[haddock1941]

@TunaHelper64

Dude, we're not going to invade Canada.

Chill out.

[RIEKSONE]

human population is declining

and peak oil is a lie

so is global warming

[nonaCbarC]

We spend amount of oil which produce approx 10 cal to produce 1 cal of food. Perhaps, this illustrates what our problem with oil is (inefficiency), which could have caused by easy access & availability of oil, i.e. oil has been cheap (easy access & availability) enough for us to be careless about how we use it. How efficiently we use oil is about where we should be prudent.

[nonaCbarC]

One barrel of oil (approx 159 L) can produce amount of heat energy approx equivalent to amount of physical work done by an avg man for 25,000 hrs (approx 3 yrs); note that energy & work are convertible, & it coast approx $5 to get one barrel of oil out of ground ($15 for the tar sand) which is equivalent to one of two hrs of work by a man in western countries with minimum wage, i.e. oil, including the tar sand is still much too cheap even today for ppl to give up.

[nonaCbarC]

Theories of peak oil, over population, global warming consist of common problems: not enough data, lack of sufficient method of data analysis, records of incorrect predictions, fear mongering (Armageddon).

[darthvader5300]

The Karrick Process can convert 1 ton of coal into 1 barrel of oil and transform the coal into smokeless and high energy heat output semi-coke, plus cogenerate electricity by using the steam used in cooling the process and the phenolic by products is used by the petrochemical industries as a substitute for coal tar derivatives.

[asifing24x7]

once we can produce cold fusion...who will need oil?

[usedbrain]

The only reason scientists find biological markers in petroleum is that deep earth bacteria use hydrocarbons as their energy source. Hydrocarbons are an abiogenic by-product of geological processes. The earth is constantly producing more hydrocarbons. Thomas Gold wrote a wonderful book "Deep Hot Biosphere". For a less technical read check out "Black Gold Stranglehold".

[populartechnology]

Proof cited:

Easier to find oil (Royal Institute of Technology, Sweden)

Hydrocarbons in Deep Earth? (Carnegie Institution)

New Evidence Supports 19th-Century Idea On Formation Of Oil And Gas (American Chemical Society)

[davenetdog]

Its unlimited. No worrys.

[dsrtflwr]

Well, actually, there is one worry: Liberal environmental chicken littles.

[atchisrj1]

We need to invest new technology to get the hydrocarbon out of the difficult to reach areas at a low coast. We are not causing the globe to warm because, we account less then 3% of the greenhouse gasses in the atmosphere. the rest is volcano's and Forrest fires. Lets invest in fighting and preventing forest fires, since we can not do anything about the volcano's Just a thought....

[EpiDemic117]

@atchisrj1 I usually say let nature do it's work. Mainly because forest fires clean out all the buildup in the forests. and from the ashes new plants grow like crazy. We need to make sure that it doesn't get anywhere near our structures however.

[Halstead2009]

i beleve if we did run out of oil i think people can go on i mean, did we use oil in the 1700's

[populartechnology]

Exactly, without government intervention the market will automatically use what is the most economically viable and practical sources of energy. Once the price of oil gets above competing sources of energy people will use them on their own. There is no need to do anything. There was never any peak whale oil crisis. Nor was the government needed to switch from the horse and buggy to the car.

[AcePilot101]

FEAR DRIVES UP THE PRICE OF OIL

[old6stringer]

Fear drives up the price of everything.

[pinworms70]

The problem with a lot of this hoopla that environmentalists thrust upon us is that most of the 'common' people dont have a voice, or we are too lazy with our comfortable lives to try and make a difference. Another problem is the limited intelligence of the 'common' people, if they see something repeated enough, it becomes fact. People are using these scare tactics in almost a hypnotizing way in order to sell you something at a profit that benefits their pockets. Look around, wake up people.

[omfgimback]

so long it wont run out when im alive im happy ;)

[sean3223a]

How can a finite resource "never run out"?

[populartechnology]

The Sun is a finite resource and the planet Earth has extensive hydrocarbon reserves for well over one hundred years locked up in oil sands and oil shale. Not to mention new discoveries of conventional reserves happen all the time. Just last month BP discovered a huge find in the Gulf .

BP Finds Giant Oil Field Deep in Gulf of Mexico (The New York Times)

[smoochym]

Nice video, thanks for the info.

[populartechnology]

Recent studies have shown that hydrocarbons are not made from just decaying organic matter but formed deep with in the earth.

Hydrocarbons in Deep Earth? (Carnegie Institution)

This makes any speculation about reserves running out even in one hundred years unlikely.

[ParrhesiaJoe]

@populartechnology I'm glad people are starting to understand this.

[JackBlair2]

Prices.

[whoo689]

Wow... All that oil, and we can't get it because some asshole environmentalists keep pressuring government, and statist politicians are more than happy to placate them with more regulations.

[tomrdee]

Of course, ABC put this on a webcast not on 20/20 TV show.

[Jaycephus01]

These segments actually aired at some point on the actual 20/20 broadcast.

[whoo689]

Isn't it expensive as hell to convert the tar sands oil to gas, though?

[populartechnology]

No it is profitable at $15 a barrel. Read the links (more info) I posted on the right, especially "Oil, Oil Everywhere . . ." (The Wall Street Journal)

[deltapunk21]

We are not running out of "sheap" liquid oil we have plenty in reserve underground and have been finding more and more each day all over the place....and it replaces itself...see oil is th eproduct of the abitioc nature of the earth its produced by its natural physiology. It will remain with us forever essentially. Until God says its over.

[zoetropez]

If this is true, then everyone in government should be thrown out of office, left and right and we should start over, drill everywhere, pay off our debt, etc... We should start an OPEC mirror for grain and wheat producers and manipulate the price so that the Saudis have to pay $144 a bushel for food. And we should threaten to cut them off at any time like they do. Unreal. Un-damn-real.

[1000101er]

We are desperate to get rid of our surplus grain (due to our agricultural subsidies) and very eager to get oil from the middle east. That is, we need their oil more than they need our grain.

Prices are determined by supply and demand, not by what is fair or by the average cost of the lowest cost producer.

[stoneofrefuge]

why not do this? I truly agree with you there. I haven;t thought of this. We need to band together and have a opec of grains and food prices to be sent overseas to let them oil barons feel the pinch in food prices.

[drmodestoesq]

This guy is so right on. When oil reaches 200 dollars a barrel we'll find the capital to extract it from all sorts of previously unprofitable places. The vast amounts of hot water to extract oil from the tar sands could be provided by coal from the Powder River basin in Montana when the natural gas runs out. Also, all this extra carbon dioxide will lower heating bills when it warms up Canada. Just think about wearing a T-Shirt and playing golf in January.

[Staymewithflagons]

Hope you young people are mad at being lied to about "Global Warming"...mad enough to hold those who lied to you accountable at the next election. The planet I S N ' T melting!

[STARZ4077]

it feels colder this summer in north america

[florgat91]

this makes me feel better ! .. I'm going out for a drive !

[87blazers4life]

hahaha

[buxtang]

There's also a heck of a lot of oil in North Dakota.

[Cyrus992]

Even if oil will not run out in 100+ years, we still should be aware on how much we consume

[magicjohnson1423]

well thats just alberta...saskatchewan has significantly more...but that is true...as large as the planet is, our technologies do not add; they multiply. Wee need to start safe habits before these fake problems become realities

[quuaa1]

Nope, Alberta has 1.7 - 2.5 Trillion, sasketchewan has a very small store of it near their border with alberta, but that's just alberta tar sands stretching into their province.

[pokeinsider]

peak oil is not true oil is production is going up

[call3328]

oil prices and economic recession's are such a marketing tool. People hear negativity all the time and it makes them scared. I'm not saying that either don't really happen but I do believe they are very over publicised.

[morsaw10000]

I love this guy! Every time i hear him talking he just makes me so tranquil

[bluehorse888]

I live in alberta, what this guys says is true!! these oil gangsters want to keep northa america dependant on feoreign oil..they should be prosecuted!!!!

[herbs814]

Thank you for giving us an eyewitness account, speaking out about the peak oil fraud, and exposing the anti-growth agenda. Keep up the pressure on these frauds.

[SW2395]

The media always want to scare people about the world. John Stossel tells it like it is.

[quuaa1]

Holy shit, I LIVE THERE!!! I have never seen any documentary that accurately portrays the oil sands. I usually use the argument that people in the early 19th century were predicting we'll run out of coal, yet today we use more coal than ever, and there's still no end in sight. I don't see any reason to demonize hydrocarbon fuels, either, our society wouldn't be what it is today without it.

[celebritynews08]

this speaks the truth

[justaquicklook]

Saudi Arabia who?

[coastnative]

Good vid. It speaks the truth. Why do so many goofy people say we're running out. Maybe because, in the words of Mr. Cheney, most people, especially the U.S. Congress have never even been outside the U.S...and like Congress, these fortune tellers think they know about things outside of the U.S. for example.

[UWBADGER1]

It amazes me how many people are willing to believe you if you tell them that the sky is falling.

[magnaflowedramx4]

Thats very very true. I wish these politicians of ours would wake up. Along with the Bakken Formation in the Montana area and other sources, How can politicions sleep at night trying to be so decietful

[hara001]

Correct, we in Canada have more untapped oil that everything else combined.

[magnaflowedramx4]

I live  Colorado. I'm trying to get a hold of who I can to ask many questions and find the real truth about all of this available oil. I get so angry concerning government officials turning a blind eye to what is really going on here.

[quuaa1]

In Alberta we actually have 1.7 Trillion barrels of oil here, only 137 Million barrels are accessible, only around 60 million barrels (I think) have been mined. You probably already know this, but in Colorado you actually have 1 trillion barrels of shale oil available, technology to refine it is still pretty new, and no company has made the effort to begin, though. Lastly Russia leaks more oil out of their lines than either of our countries mine.