"let history be your judge" as the video says... Before we were FORCED to move to fossil fuels and lubricants (as odd as it may sound) we used whales as a source of oil for machine lubricants, lighting, heating... What ever happened to all those whales? But we will never run out of fossil fuels people NOW claim. "let history be your judge" as the video says.
If Peak Oil (which happened in the U.S. in 1970) is just a "theory," the very finite nature of the Earth is also a "theory." I think a lot of people simply don't want to understand the concept.
The concept of flow-rate is critical and misunderstood. You can't just quote abstract reserve numbers without accounting for net-energy and daily flow-rates. The U.S. flow-rate was just under 10 MBPD at the peak, and short of some miraculous discovery, our remaining oil will never get back to that apex.
Natural gas is not oil. It has to be liquified to be useful, which adds to its cost. Recovery of natural gas from oil shale won't be cheap.
U.S. oil production has not recovered from its peak in 1970. "xxon Mobil Vice President, Harry J. Longwell places the peak of global gas discovery around 1970 and has observed a sharp decline in natural gas discovery rates since then.The rate of discovery has fallen below the rate of consumption in 1980."
Wow. Newt, learn the difference from US Peak Oil (1971) and Global Peak, may be happening now?
Brazil has 100 Billion Barrels offshore? That sounds like a lot, but it is only 3 years worth of Global Oil. -But that is not the problem, the problem is not that we will run out of oil, but we will not be able to produce the oil fast enough.
You have confused the US and world peak oil. Hubbert predicted the 1970's US peak in oil production, since 1930 was the "US" peak in oil discovery, 40 years earlier. World peak discovery was made in the 1960s and so e predicted that around 40 years on we would have hit peak oil around 2000. Though to different factors, such as environmental awareness, this may have been pushed back a decade to ~2010.
"let history be your judge" as the video says... Before we were FORCED to move to fossil fuels and lubricants (as odd as it may sound) we used whales as a source of oil for machine lubricants, lighting, heating... What ever happened to all those whales? But we will never run out of fossil fuels people NOW claim. "let history be your judge" as the video says.
brent1234562002 1 month ago
If Peak Oil (which happened in the U.S. in 1970) is just a "theory," the very finite nature of the Earth is also a "theory." I think a lot of people simply don't want to understand the concept.
The concept of flow-rate is critical and misunderstood. You can't just quote abstract reserve numbers without accounting for net-energy and daily flow-rates. The U.S. flow-rate was just under 10 MBPD at the peak, and short of some miraculous discovery, our remaining oil will never get back to that apex.
4aSteadyStateEconomy 3 months ago
Natural gas is not oil. It has to be liquified to be useful, which adds to its cost. Recovery of natural gas from oil shale won't be cheap.
U.S. oil production has not recovered from its peak in 1970. "xxon Mobil Vice President, Harry J. Longwell places the peak of global gas discovery around 1970 and has observed a sharp decline in natural gas discovery rates since then.The rate of discovery has fallen below the rate of consumption in 1980."
DaFuckyouat 9 months ago
Wow. Newt, learn the difference from US Peak Oil (1971) and Global Peak, may be happening now?
Brazil has 100 Billion Barrels offshore? That sounds like a lot, but it is only 3 years worth of Global Oil. -But that is not the problem, the problem is not that we will run out of oil, but we will not be able to produce the oil fast enough.
Killroy1999 1 year ago
George W. Bush also said that "America is running out of energy".
SoaringEagle5344 1 year ago
You have confused the US and world peak oil. Hubbert predicted the 1970's US peak in oil production, since 1930 was the "US" peak in oil discovery, 40 years earlier. World peak discovery was made in the 1960s and so e predicted that around 40 years on we would have hit peak oil around 2000. Though to different factors, such as environmental awareness, this may have been pushed back a decade to ~2010.
hazzer777 2 years ago
Great comments: Newt Gingrich really didn't do his homework... the NYT article is more convincing (if you believe that denial stuff)
moxie997 2 years ago