Peak Oil in the Pit

[motorolarules]

I hope know one is surprised. Energy is power. Along with power is the need to keep it if you control it. Energy is money, whoever controls it has the money and the power. Now as human beings how would you act with all that power and money? Greed is a destructive force and we are having it forced upon us. Another made-up war: the war on energy. But on the other hand it is time for a change to something that is not polluting and renewable. That should put more control in our hands, maybe.

[lorax2013]

Great vid. I loved hearing all the traders saying there was no PO. So much for speculators being responsible for the price increases.

[UnderseaCaveman]

Funny, how everybody is counting on "Technology" to be the Knight-in-shining-armor! Everybody is so "plug-n-play" spoiled...there's a dramatic difference between technology minaturizing IC chips, and coming up with an energy revolution that took 150 years to build up, and is doing the same thing it did 150 years ago....burned/combusted fossil fuel!

[blackarrow125]

proven reserves?

you mean like the reserves the saudi's and other opec members claim to possess, which claims determine how much oil they are permitted to sell?

funny how these "reserves" don't seem to go down, in spite of years of pumping.

[jeff59nrs]

Good Video;Oil is not running out.The problem is the power players want to put more money in their bank accounts. Now once again they are searching for alternative fuels to power our automobiles. Problem with that is this the price is so high the common person can not afford it. If they want we as Americans to use less oil/gas make the alternative car cheaper. Otherwise quit inflating the price of oil. Wake up America they are lying again.

[dilwodan]

excellent video. thanks for posting.

[SwobyJ]

Great video.

[PeakOilAwareness]

Thanks for the video. To clarify some of the statements: Peak Oil was reached for US production in 1970, not worldwide production. Then the US produced 10 million barrels/day. Today the US produces about 5 million. One of the largest misconceptions about Peak Oil is that it is about "Running out" This is false, oil is not running out and no Peak Oil expert makes that claim. However, it is a factual statement to say that "cheap oil is running out." Peak oil is about daily production rates of oil.

[Fisklina]

But oil IS running out. We just don't know exactly when it will. The only sure thing is that it WILL run out sooner or later.

[CIDaily]

The sun is also running out of energy. Should be concerned about global cooling because of that? In the long run...eventually.

The question is whether we are running out of oil before we can move to other energy sources and considering there are proven reserves for at least the next 50 years and probably more like 100, we will probably be fine although if the tranisiton is managed poorly, we will get high energy prices through that period of change.

[jugganaut35]

Well that's not exactly true. It's not that oil will run out and no oil will remain in the ground anywhere, it's just that we will reach a point where more energy is consumed to pump out the remaining oil than the oil itself will produce.

At that point pumping out the remaining oil will be net-energy deficient, and most likely only governments will have access to the remaining reserves which ARE pumped. In other words, the oil price would be prohibitively expensive for everyday folks.