Peak Oil - Last Oil Shock - (part 1 of 4)

[Gaznugget]

Wake up people, we are not in the carefree, greedy, dirty oil world of the 1980s and 1990s anymore where we could burn and waste as much oil as we wanted for our greedy and selfish lifestyle. The 2000-2009 decade was about green technology, sustainability, global warming, and now in the 2010s decade we will have to continue green energy and turn the oil 1980s and 1990s into the green 2000-2009 and 2010s.

[drgth1776censur]

Alaska oil production peaked long ago and is in decline. US oil production peaked in 1970. For years people have been talking peak oil because they have been WARNING US!! New technology will not help us. The decline rate is the leading indicator of peak oil, because peaking is seen in the rear view mirror, so to speak, especially if the production rate does NOT go back up, which is usally the case.

[0rangePete]

Why is the new technology insufficient to reverse the declining trend?

[rdsanchez1966]

@drgth1776censur Circumstantial evidence 1) mega mergers in the 90s, 2) no new refineries built in the US since the 70s, 3) US occupation of Iraq, 4) OPEC reserve numbers of individual members unchanged after many years of production and no new drilling, 5) global DISCOVERY peak in 1963 (can't produce what you can't find - forty year gap from US DISCOVERY and PRODUCTION peak).

Scary world. Some think our prolonged recession is due to the Peaking.

[thiswonthurtbaby]

The omnicredulous... Art Bell. Seriously scary though.

[Stan1208]

For many years the peak oil people have been crying.  We still have plenty of oil.

[sandcut1]

So when do you believe the USA hit peak oil production??????

[TIKIMAN198]

@sandcut1 1970

[sandcut1]

@TIKIMAN198 I thought it was 1971 actually. I just want to see what other people believe who don't buy into peak oil like stan1208 who posted before me. I really don't understand some people's reasoning in not believing in peak oil. What I don't know is... has global peak oil production happened yet, or when will it happen or are we there now?

[boxingisbest]

@sandcut1 Peak oil will happend one day theres no one smart debating that ,i think most people belive peak oil means the day we totally have run out of oil on this planet but if peak oil is the day we cant produce more than the we consume well then we have reached it already

[sandcut1]

@boxingisbest I don't believe the definition of peak oil is when production exceeds consumption. Peak oil is maximum global oil production. Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. This what I believe.

[boxingisbest]

@sandcut1 In that case it has already happend

[sandcut1]

@boxingisbest Maybe your right, where is your reference? You make it sound like it is a cold hard fact, but can you back up that claim? If you can I will believe you. I think you are right but I am not 100% sure. If you can prove we are at peak oil or it has already happened I will whole heart idly believe you.

[boxingisbest]

@sandcut1 My reference is that the we have had a financial crisis and it was caused by high oil prices and maybe in a year or less we will have a new one. when theres not enough oil being produced prices go up not only on oil but food and just about everything in our society because its all based on oil

[florgat91]

there's plenty of oil in Alaska - just ask Lindsay Williams, our energy prophet !

[nietzschealive]

@florgat91 google alaskan oil reserves downgraded by 90% 2010

[destinie123456]

Do your own research........... this is bullshit.... global warming is bullshit.....wake up people....pass the message

Youtube the oil non-crisis

[keithholden]

Matt, the decline rate has nothing to do with how stable the country is. Decline rate is mostly affected by water or gas injection which props up production as in Saudi. Decline rates then can be 10 percent per year

[cubeprisioner8]

We have had the technology to build a transit system that requires 90% less oil then we are using now since the 70's. PRT public rapid transit. Picture a monorail system 2 lines high on each side of the road. The bottem line is stop and go and the top line is non stop. Everyone can "own" their own car and they can be computer controlled and park themselves. Imagine playing a video game or watching TV on your commute. Nuclear powered.. No DWI's, No driver error, no speeding tickets..

[mcc11505]

Thanks! Peak oil= World is using more oil than we are finding? The Nation who controls Oil controls food distribution and the World. Is W insane enough to think he can rule the World?American Military strength is in oil. Just like any junkie addict The Pentagon will do anything to make sure ships, planes, and Hummers never run out of junk.Any addiction is suicide and the sooner recovery begins the better. Withdrawal is always painful but freedom from bondage of addiction begins with willingness.

[cipi604]

Matt Savinar kick ass! he educated me and many many others.

[776281]

Gulf of Mexico 7,000 feet of water 33,000 feet on top of that. 40,000 feet wells ain't cheap.

[mike3467]

peak oil is a myth,there is oil in the gulf of mexico that can supply the US for 30 years,also oil in canada,alaska,and the latest discovery in the artic, falkland islands and shale oil in colorado,how can peak oil be true if we keep discovering oil,this is just a bunch of bs to keep prices up

[OperationCrossroad]

Peak Oil doesn't mean running out of oil. Peak oil means running out of CHEAP oil. That's why the price of oil is going thru the roof right now. There's a lot of oil left right now, but to make it economically feasible to produce it the price of a barrel of oil has to be high (like it is now and even higher). That's the real implication of Peak Oil.

[mike3467]

That doesnt make a damn bit of sense,so now the same oil coming out of the same ground costs more?? get real,lol

[OperationCrossroad]

Offshore drilling costs more than drilling done on solid ground (offshore drilling platforms: $300 millions a pop...). Drilling in remote areas like Alaska costs more than operations in say... Texas. Oil containing H2S (hydrogen sulfide) costs more to turn into useful products (actually, none of the refineries in North America our Saudi Arabia can even process that kind of oil at the moment). Same thing for heavy oil; very costly to process. Do you want me to go on?

[mike3467]

We all know it cost a little more in a different area to drill,still doesnt justify the price at the pump, everyone knows its all speculation,you must work for one of the oil companies,but thats cool your good times will be over soon,lol

[OperationCrossroad]

The largest oil field in Mexico is called Cantarell. That field is declining at an annual rate of around 15% per year. Production in Alaska is also crashing. Worst of all, there are increasing rumors that Ghawar in Saudi Arabia (the biggest oil field ever discovered) is also decline. If those rumors are true we are all in big trouble. Don't take my word for it. Simply GOOGLE the names Cantarell and Ghawar and find out for yourself. What you see isn't speculation, what you see is panic...

[valhala56]

Mike, you need to check your research shale is not at all econmically feasible. So far one barrel of oil has been made from shale. Saudi Arabian oil has a 30 to 1 energy ratio, tar sands or better know as the oil sands of canada has a 1.5 to 1 ration, ethanol is negative ratio only survives on Goverment subsidy. But hey you think it's a myth that's fine by me, I'm makeing money off you in the futures market.

[OperationCrossroad]

No argument here. Shale oil doesn't have a future, I am well aware of that. The process that converts shale into a barrel of synthetic oil requires more energy than the energy contained in the barrel of oil you get at the end of the process. The energy balance of the process is negative. So, again, we're on the same page here. By the way, I think abiotic oil is fantasy too...

[valhala56]

One thing possible they just announced US Oil companies got "no bid" contracts in Iraq effectively shutting out, India, China, Russia. This may delay the onset of the oil shortages here in the US for a while. Price will still be very high.

[OperationCrossroad]

Exactly; good old Exxon Mobil, Shell, BP and Total will soon begin exploiting Iraq's oil fields and rake in the money... again... Because those are the same firms Saddam Hussein had kicked out of Iraq three decades ago when he nationalized Iraq's oil industry. Regime change does wonder for the free enterprise; excuse me while I puke...

[valhala56]

the attitude here in the US now is all they care about is getting the fuel, the gasoline, they "Joe and Jane America" don't care how you got it, just get it.

[UnderseaCaveman]

Yes.... I think the "Global Production Curve" is going to look more like a "Reversed Raleigh Distribution" than a symetrical "Gaussian Distribution"... Why?

"Super straws" and no further competing, emerging Oil provinces!

[OperationCrossroad]

That's right. The so called new technologies that will supposedly save our asses are only compounding the problem by allowing us to pump the oil out of the ground faster without increasing proportionally the total amount of oil that can be pumped to the surface. Matt Simmons (I'm sure you know the buy) keeps repeating that until he's blue in the face and yet petroleum economists/talking heads (more like shitheads...) just don't get it. The system is about to stall and fall like a rock...

[Mettezz11]

thx for uploading this m8

[johnq123123]

Bullshit, the only thing happening here is too many parasites are sucking off the teet of the working man. Huge, complicated money making structures have been created to manipulate money without the physical creation of products or services. We need to limit population growth now, and we need to remove parasitic growths which have formed over time, and are now spiraling out of control. There is nothing different here, we just need leaders who understand reality.

[OperationCrossroad]

Real sorry but, there IS something different here. For the very first time in the history of the industrial world global oil production has no hope of ever climbing higher (85 millons barrels/day is as good as it's ever gonna get). Soon, global oil production will START DECLINING... NOW THAT'S NEW. So the population of poor countries will starve to death while industrialized countries will fight to death over what's left. So I guess your wish of population control will be granted... soon...

[DFORCE1969]

Bye Bye corporate global capitalism;You were an obscenity.And so begins the most frightening & most potentially transformative phase of our species existence;A new maturity or else self destruction;

go to;ZARATHRUSTRA;LIVE on you tube.