Peak oil is really about peak "cheap" oil, which is running out fast. Libya is getting taken down right now because they have lots of quality sweet crude. But prices are going to rise as the Saudi and Kuwait fields are getting worn out.
I believe we are on the downside of the curve in terms of oil production...I also believe mankind will be judged harshly in the coming years cause of our lack of morals, our corruption, our greed, and our destruction of our planet. Nuclear energy in and of itself is madness!!
The United States has untapped oil reserves that equal to like 3 times more than what was in Saudi Arabia... Just google search in the news category, "US trillions of oil"
the Saudis have been obfuscating their figures for years , this is only news because of the notoriety of Wikileaks and the timing due to Egypt. anyone with modest understanding of Oil knows the Saudis are past their peak, this is merely a public admission.
@FlaviusMaximus1967 Yes, I looks like the peak of daily oil production is in the rear view mirror now.
The question is what is Faux News up to? It think the strategy here will be for them to say: "we're in a mess because the Arabs lied to us about their oil reserves".
$6/gallons gas -> blame it on the Arabs.
Hyperinflation -> blame it on the Arabs.
Millions of people losing their jobs -> blame it on the Arabs.
I'm pretty sure that's the kind of B.S. they're gonna spewing out now.
If we have passed the peak, we'll see it once demand crosses the supply threshold. That will most likely happen once the economy starts to pick up and then those in power will have to answer for decades of inaction. How will those in power respond? I think you're on the right track here @OP, scapegoating will be the preferred response. I think we're in for HARD TIMES soon and that could lead to social upheaval that powerful people want dearly to avoid.
@OperationCrossroad Exactly. Where the F was Fox News fighting to prevent the worst effects of depleting oil, anthropogenic global warming (AGW), world overpopulation, and the holocaust of factory farming for the past 31 years, that groups like PETA and Greenpeace have?
@mphello The fact is: the only way now to deal with peak energy and factory farming and world overpopulation is to go to war and kill and torture everyone who thought these issues were less important than Clinton having sex with an intern or denied AGW or thought there was "no such thing" as overpopulation.
99% of humans do not have the mental capacity to comprehend the magnitude of things. This is why I laugh and cheer over trivial events like 911, Oklahoma City bombing, ...
@mphello .. or War in Iraq, because 99% of people - and I don't care if they are US soldiers or cops or civilians - LOVE getting blown up, LOVE starving to death. And I LOVE it when it happens to THEM, just as long as they don't force it upon the animals or the 1% of us who are proud patriotic radical vegans. If they dare, I'll get my gun and blow their faces off, which would be fun for them, because what's INFINITELY more important to them than getting their faces blown off is whether ...
@mphello .. somebody else somewhere smokes marijuana for their own pleasure or whether gays are in the military, or takes away every single last right that a prisoner might have.
Fox news? Look who decided to smell the flowers! No wikileaks required for me, I've been up to speed about the world oil situation (and that of saudi arabia too) for at least half a decade.
@slipcurve What's interesting here is the timing -> Why bring this into the open now?
It would have been so easy for Fox News to bury this wiki leak "revelation" (which isn't news for those of us who are interested in the energy sector) and yet they've chosen not to bury it. Is this just a fluke or did the MSM get "the word" that it is now time to prepare the populace for sky high oil price? Could it be that the snot is about to hit the fan? I guess we'll find out in the next few months.
I am not stunned, and I am not surprised, we are past peak oil, Matt Simmons, Jim Kunstler and others have been speaking of this for years, that few were listining does not mean NO ONE was, if you are just figuring out that the industrial age is about to grind to a halt becauseof a lack of oil and capital after all the information that has been provided previously and you have no time to prepare for the alternative reality that is coming, you have no one to blame but yourself, and the MSM.
When you see things like this on Faux News, you KNOW the S is not far from hitting the fan. Although, anyone who has been studying Peak Oil for long already knows about the grossly overstated OPEC reserves. Magic oil wells that never deplete! Imagine that!
We could have prevented this...
2012 = The END of Industrial Civilization as we know it.
I give it 18 months until the fractional reserve banking system collapses in hyperinflation as the production of goods and services cannot match the printing of fiat currency.
I hope everyone is prepared.
If not then consider the next few months as your last chance to get prepared.
Well if you thought that they where telling us the truth with rising oil reserves, then you havent been paying attention!
ourworld287 2 weeks ago
Matt Simmons was right..... Twilight in the Desert was all about this...
MrEnergyCzar 2 weeks ago
BOGUS: Peak Oil is a FRAUD
goo.gl / 5GDIB
roboeco 3 weeks ago
Really? Fox news only knows this now. Did they actually believe saudi had the same amount of reserves for the last 30 years ?
boscoesarmy 4 months ago
@boscoesarmy Its because the Fox institute seem to believe everything they are told, no matter how idiotic.
Standuble 4 months ago
Peak oil is really about peak "cheap" oil, which is running out fast. Libya is getting taken down right now because they have lots of quality sweet crude. But prices are going to rise as the Saudi and Kuwait fields are getting worn out.
BlueStateChronicle 6 months ago
I believe we are on the downside of the curve in terms of oil production...I also believe mankind will be judged harshly in the coming years cause of our lack of morals, our corruption, our greed, and our destruction of our planet. Nuclear energy in and of itself is madness!!
videolover61 10 months ago
Hm I was on the brink of believing this shit with peak oil and what not, but if fox reports something like that, I think we are all ok after all.
metafa84 11 months ago
The United States has untapped oil reserves that equal to like 3 times more than what was in Saudi Arabia... Just google search in the news category, "US trillions of oil"
LibertyFilms4You 1 year ago
@LibertyFilms4You Sorry but those numbers are only a spinn created by some investment journalist.
ingeborgsjon 7 months ago
"A lot less than anyone thought" Ummm A LOT of people knew they were lying.
TIKIMAN198 1 year ago
Matt Simmons must be snickering in his grave. For all the bashing he took, looks like he was right on.
rac1867 1 year ago
the Saudis have been obfuscating their figures for years , this is only news because of the notoriety of Wikileaks and the timing due to Egypt. anyone with modest understanding of Oil knows the Saudis are past their peak, this is merely a public admission.
Edgebotv4 1 year ago
Good snapshot, OPSXRD.... Mahalo.... this is another validation of Matt Simmons' analysis in "twilight in the desert".
UnderseaCaveman 1 year ago
I think we are past the peak....
FlaviusMaximus1967 1 year ago 7
@FlaviusMaximus1967 Yes, I looks like the peak of daily oil production is in the rear view mirror now.
The question is what is Faux News up to? It think the strategy here will be for them to say: "we're in a mess because the Arabs lied to us about their oil reserves".
$6/gallons gas -> blame it on the Arabs.
Hyperinflation -> blame it on the Arabs.
Millions of people losing their jobs -> blame it on the Arabs.
I'm pretty sure that's the kind of B.S. they're gonna spewing out now.
OperationCrossroad 1 year ago 9
@OperationCrossroad
If we have passed the peak, we'll see it once demand crosses the supply threshold. That will most likely happen once the economy starts to pick up and then those in power will have to answer for decades of inaction. How will those in power respond? I think you're on the right track here @OP, scapegoating will be the preferred response. I think we're in for HARD TIMES soon and that could lead to social upheaval that powerful people want dearly to avoid.
FlaviusMaximus1967 1 year ago
@OperationCrossroad Exactly. Where the F was Fox News fighting to prevent the worst effects of depleting oil, anthropogenic global warming (AGW), world overpopulation, and the holocaust of factory farming for the past 31 years, that groups like PETA and Greenpeace have?
mphello 1 year ago
@mphello The fact is: the only way now to deal with peak energy and factory farming and world overpopulation is to go to war and kill and torture everyone who thought these issues were less important than Clinton having sex with an intern or denied AGW or thought there was "no such thing" as overpopulation.
99% of humans do not have the mental capacity to comprehend the magnitude of things. This is why I laugh and cheer over trivial events like 911, Oklahoma City bombing, ...
mphello 1 year ago
@mphello .. or War in Iraq, because 99% of people - and I don't care if they are US soldiers or cops or civilians - LOVE getting blown up, LOVE starving to death. And I LOVE it when it happens to THEM, just as long as they don't force it upon the animals or the 1% of us who are proud patriotic radical vegans. If they dare, I'll get my gun and blow their faces off, which would be fun for them, because what's INFINITELY more important to them than getting their faces blown off is whether ...
mphello 1 year ago
@mphello .. somebody else somewhere smokes marijuana for their own pleasure or whether gays are in the military, or takes away every single last right that a prisoner might have.
mphello 1 year ago
This has been flagged as spam show
@OperationCrossroad I think you could be right.
boscoesarmy 4 months ago
Fox news? Look who decided to smell the flowers! No wikileaks required for me, I've been up to speed about the world oil situation (and that of saudi arabia too) for at least half a decade.
slipcurve 1 year ago
@slipcurve What's interesting here is the timing -> Why bring this into the open now?
It would have been so easy for Fox News to bury this wiki leak "revelation" (which isn't news for those of us who are interested in the energy sector) and yet they've chosen not to bury it. Is this just a fluke or did the MSM get "the word" that it is now time to prepare the populace for sky high oil price? Could it be that the snot is about to hit the fan? I guess we'll find out in the next few months.
OperationCrossroad 1 year ago
I am not stunned, and I am not surprised, we are past peak oil, Matt Simmons, Jim Kunstler and others have been speaking of this for years, that few were listining does not mean NO ONE was, if you are just figuring out that the industrial age is about to grind to a halt becauseof a lack of oil and capital after all the information that has been provided previously and you have no time to prepare for the alternative reality that is coming, you have no one to blame but yourself, and the MSM.
xenaphob 1 year ago
When you see things like this on Faux News, you KNOW the S is not far from hitting the fan. Although, anyone who has been studying Peak Oil for long already knows about the grossly overstated OPEC reserves. Magic oil wells that never deplete! Imagine that!
We could have prevented this...
2012 = The END of Industrial Civilization as we know it.
Good luck, everyone...
robophreeq 1 year ago
Game over for Industrial Civilisation.
I give it 18 months until the fractional reserve banking system collapses in hyperinflation as the production of goods and services cannot match the printing of fiat currency.
I hope everyone is prepared.
If not then consider the next few months as your last chance to get prepared.
NhojNhoj67 1 year ago