Crash Course: Chapter 17a - Peak Oil (1 of 2) by Chris Martenson

[dirtbikingcanada]

This guy is a lying globalist. Peak oil is a lie to support high oil prices. Peak oil is a scam to help the new world order. Look up lindsey williams "the energy non crisis.

[Valkyriepure]

@dirtbikingcanada Yeah right !, oil is everywhere so we are drilling in the Arctic and in 20,000 feet of water. I think there are so many fat arses in the west the thought of no more drive thru meals is worse than death.

[ingeborgsjon]

@dirtbikingcanada Lindsey Williams is a christian lunatic, he doesn't have a clue. World Energy Outlook conclueds that we reached peak crude oil in 2006.

[TWSceptic]

@dirtbikingcanada No you are an ignoramus.

[paris466]

Just so happens... 2010 was the first year EVER that demand outpaced supply. We had to cut into above ground reserves to keep pace.

[Standuble]

@paris466 You serious? If you are then thats bad news.

If I'm not mistaken the only way for oil companies to increase production from existing fields is to research better extraction methods and technologies to extract it (lowering the cost of producing it in turn.) However to do that research (like all research) you have to have money to do that with, therefore the oil companies need to have a sizeable profit. No profit = no research = no improvement. After the peak the slide can't be slowed

[paris466]

@Standuble - That is what I read a few weeks ago. I honestly don't remember the source or I would gladly give it to you. I think it may have been at businessinsider(dot)com (they've done a few articles on Peak Oil), but again, I'm not sure. Could put an interesting spin on why the SPR was tapped this year, though.

[ingeborgsjon]

@paris466 No, it happened in 2005-2006 all the way up to the recession.

[MacabreManifesto]

When you say "issues" for nuclear power do you mean Chernobyl and long island? Factoring in those outliers on the mean overall safety Nuclear power is STILL one of the safest forms of energy in the world. It does of course take exorbitant amounts energy to make a nuclear power plant and then to make the storage facilities needed to isolate the waste (France has maximized energy output and minimized waste, while having zero fatalities related to nuclear accidents) but it would be a contender...

[MrEnergyCzar]

The cheap oil that fuels our growth based society is running out.....This is pretty straight forward unless you're in denial...

[lucasleivia]

good. im glad the oil is going to run out because if it didnt we'd keep burning it until the whole planet died. it seems the only thing that will stop us from consuming is when there is nothing left to consume.

[MikeKay1978]

@lucasleivia

The planet will not die. The earth has gone through this scenario or worse before. Life on earth will adapt the one thing you can hope for is that you adapt to the earth.

[philnoll]

These are great videos. I'm learning so much in such a short time, and you make it so easy to understand. Thanks very much.

[managarm1349]

lovin it

[1ceC0ldKill4]

You should consider to run for a political office, or advise a politician.

[godseyeview]

Peak oil is a scam to depopulate the earth and prop up fiat currencies like the dollar. All peak oilers are true morons just like global warmist.

h t t p : // w w w . the7thfire . com/peak_oil/peak_oil_is_a_sca­m_to_promote_world_depopulatio­n . htm

[ExquisiteDoom]

@godseyeview Peak oil could be true even if it's used as a depopulation scheme. It doesn't mean it's forged. But i really don't know shit about oil.

[kikrlbs]

I suggest reading "Crossing The Rubicon" or "Plan C" if you really think we can convert to clean/free energy on the drop of a dime, I will emotionally say this: You are FUCKING IGNORANT. Close minded sheep cannot accept the facts, check it out, I hope all of you who criticize this have a lifetime supply of Xanax, cuz you're gonna go nuts not understanding why you're life is going to shit.

[proaudiohd]

I wish this guy could be a cabinet member and wake the nation up to this stuf, and actually set some policies geared towards it.

[ocrp3]

Excellent. Good comments here too.

[freedomfighterone]

There is more oil in Colorado, Montana and Alberta Canada, that has not been touched yet, then there is in Saudi Arabia. The criminal bankers who are the primary shareholders in these oil companies put pressure on the governments of the Western World to ensure that no alternative energy sources ever take the place of oil.

[proadmin1]

All the oil there is in tar sands and shales. The "high" energy he was talking about is the real kicker.

Today for every unit of energy we put in to gettting oil out of the ground, we get 20 units of energy out.

With shales and sands, for every unit in, we only get two units out. So yes Alberta Canada has nearly a TRILLION barrels, but when you do the math, it's about 500-600 billion, and we use that much oil in about 35 years - at current consumption rates.

[freedomfighterone]

Yes, those figures may be true for right now. But our technology is constantly changing, and if it improves over the next ten years, we may very well be able to extract 20 units or even more of energy out of the ground. You can't assume that the technology is going to stay the same.

[proadmin1]

Well, we can, in so far as we know how much energy we can get - out of oil & we know how much it takes to refine the tar-sands, the technology for that extraction - while I agree - is subject to some new innovation is not in doubt, but the entire discussion is moot in the view of something like a Mr. Fusion or other magical universally available energy production. The concern is that WITHOUT such a magical discovery, we're seriously screwed. So oil represents the easiest energy we've ever found.

[freedomfighterone]

No, we don't know what technology is coming in the future. And you can't assume that our knowledge is going to stay the same. The criminal elite have created scarcity to make us dependent on the oil that they control. But there are other sources of energy, like the Sun, that can make us independent of the corrupt system. You can make your own solar panels, and with an inverter you can provide your own source of electricity for your home and your electric car.

[proadmin1]

I don't disagree that we have the capacity for great inventions - barring some nuclear or other systemic collapse, it's very likely that eventually our civilization will span at least two or more planets in our own star-system and perhaps even "go galactic" , but in the here and now, Solar might work but there is a paltry level of transition compared to the need. Secondly is the longer term interest of scarcity vs. productivity - elitists or no - we are totally unprepared to move from oil.

[freedomfighterone]

Wrong! We can move away from oil, and we need to start right now.

[proadmin1]

That's the problem - really. Absolutely we can and should move away, my position is we have a thoroughly alcoholic relationship, we could move away, but the US dollar has collapsed significantly in the last 8 years almost directly due to oil, and our economy is entirely UNABLE to respond in a market-driven way so we're pretty screwed.

[freedomfighterone]

No, the dollar is collapsing because of the corrupt activities at the criminal Federal Reserve. And if that private banking cartel is not shut down America is going to be finished!

[ingeborgsjon]

@freedomfighterone Yes we can but it's not happening and it will require enormous changes to society, it will mean the end of the car as a personal vechicle.

[TEHREALBOB]

I will be if the government keeps suppressing it. Have you noticed that breakthroughs that should be revolutionizing the world get only a few minutes of media coverage, and are subsequently destroyed? I'd bet 3 gold bars that if someone invented a car that ran on salt water with no emissions whatsoever and had about 300mpg, that person would assassinated, his work destroyed, and none of it covered in the media.

[freedomfighterone]

Absolutely! You would not hear anything!

[nits56]

quuaa, bakken oil field montana more than middle east 250 to 400 billion . tupi brazil found last year , type in 'peak oil scam ' you will 10 new fields in the past year, peak oil is a scam

[planetwalker]

what's 400 billion, when the US alone consumes over 20 million a DAY! 400 billion will last for hmmmm can you do the math?

[SaviorOfLogic]

The graph at 6:30, your chart is flawed as it starts at 60-something. But otherwise, we need to be investing our land into nuclear plants and research into fusion.

[bartweisser]

I have a couple of issues I have with this chapter

(1) Oil field exploration slowed down because of improvements in horizontal drilling technologies.

(2) Oil fields are typically abandoned at 80% capacity, only to revisit when justified by cost.

(3) The choke point for oil supply is at the refinery, not at the wells. It is in effect "peak refined oil" that is the issue.

(4) There is no incentive for oil companies to increase refining capacity due to speculative pricing.

[SaviorOfLogic]

80%, wow. So is oil running out(causing higher production costs), or is it a cartel like situation?

[bartweisser]

Oil is not (yet) running out. The problem is that most oil companies are nationalized and they would rather make more money to reinvest on other infrastructures (e.g., Dubai).

Another problem is the speculative pricing of oil. Refineries have a 35-year horizon, and oil companies (and the market) don't really think there is enough oil to go around for that long to justify the cost of building new ones.

So at this point it is a combination of supply/demand, and a "cartel" problem.

[bartweisser]

Another thing is that, production of oil has actually been keeping up reasonably well with demand. Even now, the two are within 2% of each other. This further justifies the "bottleneck" situation at the refineries.

It is not to say that we will have an infinite supply of oil, but the issue is currently somewhere else, and there is still hope if we act fast enough.

[AurynOne]

even if there weren't a cartel, oil companies would still practice this because of increasing costs of drilling toward the end. It's easier to just move on to a new field. It's the law of diminshing returns.

[0urGaia]

Its strange that america wages a war on terrorism during the same time as oil output peaks, no.

[ITILII]

@0urGaia most unfortunate that lately, America's wars ARE terrorism, meant to increase military spending and advanced technology and take over other's resources. Gen. Smedley Butler's book, War is a Racket. Written in the 1930's by a US Marine, a veteran of 34 years of service, who was awarded America's highest military honor twice (the Congressional Medal of Honor - only 20 men in American miitary history have been so honored) this man knows about wars and those who cause and profit by them

[0urGaia]

@ITILII, Gen. Smedley Butler should have been given a third Congressional Medal of Honor for speaking against the very institution he served. There seems a lot of similarities between US and that of nazi germany in the lead up to WW2. Are we the third Reich aiming to start another world war. The answer might be found by examining military buildup of China, Russia, Iran and North Korea.

[quuaa1]

"Fewer discoveries have been made in recent years with a grim outlook". Strange, because we have 1.7 Trillion barrels in Northern Alberta, there's 1 Trillion barrels in Shale oil in Colorado, there's 5 Billion in offshore oil, another 800 Billion (forget where that was), Brazil found 80 Billion in offshore oil. There's around 10 Billion sitting in the arctic somewhere... This enough oil for a while? More and more fields are being discovered all the time.

[tanibooboo]

I'm calling bullshit on your bullshit:

After 20 years we still cannot effectively remove oil from shale

The oil in Alberta is in sand which requires 2 units of energy to net one unit

5 billion barrels won't last us a year if demand does NOT increase-- highly unlikely without conservation

Sorry about that

[quuaa1]

"Can't remove oil from shale" correct me if I'm wrong but haven't they done that in Ireland for over 100 years now? If it's not usable then why did Total fight to get rights to the American shale oil?

[tanibooboo]

I said "effectively"-- As for the questions of oil rich Ireland and the motives of Total I must defer.

12 trillion barrels of known reserves will last 600 years if there is no increase in demand-- unfortunately, China and India alone will double demand in the next 10 years. Now we are down to 300. At a stable 3.5% growth rate, demand will double again in 20 years, and so on down the line. But, you know what? 50,000,000 electric cars will give us cheap and abundant oil-- how about that?

[sandcut1]

@tanibooboo No you are wrong about Alberta Oil sands the EROEI is about 1.5 to 1. Where did you get your info from.

[quuaa1]

This is where I call bullshit. People in 18th century Europe were freaking out about the end of coal and how we'd run out in the (then) "not too distant future". With new technology coming out it's reasonable to assume we'll stop using it long before we ever run out.

[OilCrash]

Very instructive! Thanks for the good work. A Crude Awakening - The Oil Crash.