Myth: The World is Running Out of Oil (Peak Oil Theory)

20/20 John Stossle makes the case that the peak oil theory is a Myth.

We have enough oil and other carbon based fuels for hundreds of years.

Category:

Autos & Vehicles

Tags:

• Peak Oil
• Myths
• Running out of Oil
• vuclan750l

[Standuble]

@Vulcan750L You're actually the first person I've ever seen on the Internet to say oil and tar extraction is easy and cheap.

[Vulcan750L]

@Standuble

Are you implying that I'm wrong?

Expensive and difficult are relative terms. Whenever you hear it used pertaining to oil, it is oil being compared to the cheapest and easiest oil.

The light crude that squirts out of the ground is very easy to get, and very cheap, BECAUSE it is so easy to get. All other oils compared to that is "expensive" and "difficult". So Shale and Tar Sands is often referred to as "expensive" and "difficult" oil.

[Vulcan750L]

@Standuble

continued . . .

And the confusion here is that everyone interprets that to mean TOO expensive and TOO difficult, which is then exploited by tree hugging liberals to capitalize on that misunderstanding and use it in their crusade to end our use of oil and to prevent us from accessing more oil. But when a liberal says it, that is exactly what they mean, that it is TOO expensive and TOO difficult, which is a lie, but it reinforces that myth and that misunderstanding.

[TonyLambregts]

@Vulcan750L $20 per barrel is the cost to get it to the state of crude bitumen. This does not include the cost of upgrading the crude bitumen to synthetic crude oil, which makes the final costs C$36 to C$40 per barrel. That is NOT what I would call cheap.

[Standuble]

@vulcan750l not necessarily, just making a statement.

[Vulcan750L]

@cooolabdul

We are running out of the cheapest and easiest oil.

We are not running out of Shale, Tar Sands, Heavy Oil, Coal, or natural gas any time soon.

There is nothing difficult or expensive about Shale and Tar Sands. If you know how to boil water in a pressure cooker, then you know how to extract oil from shale and tar sands. I can do it my kitchen and it can be done cheaply, a lot more expensive than oil that squirts out of the ground, but still very very cheap, less than $20/bbl.

[Vulcan750L]

@cooolabdul

We are saving our Shale and Tar Sands as emergency reserve????... lol . . . Making shit up as you go along?

Ok, lets assume thats true, and how does this prove that we are running out of oil?

Because if we are not tapping into our emergency reserves, doesn't that prove we are NOT running out of oil yet?

We got enough oil in our Shale for hundreds of years. That's quite a reserve.

[cooolabdul]

@Vulcan750L We are voting on the XL keystone pipeline starting from Alberta in Canada (with Tar sands) Isn't that a sign that we ARE seeking for alternative ways for oil? Who would take oil from Tar Sand( much less easier to extract then regular oil) if we are running out on oil? We are not exploiting everything in the US, is because it's an emergency reserve, only to be used when nothing is left, you must be stupid to use everything you have before you exploit the whole world first

[Vulcan750L]

@cooolabdul

Alternative energy is not growing fast enough? And what do you base that assertion on?

The cheap oil has been getting replaced by "expensive" oil, coal, natural gas, wind, hydro, solar, geothermal, and other alternatives for decades. Almost no oil is used for electricity today.

15% of the gasoline has already been replaced. Electric cars are rolling off production lines worldwide. Cheap thin film solar, 1/10 cost of conventional solar panels, will soon be mass produced.

[Vulcan750L]

@cooolabdul

If we really were desperate for oil, why haven't we developed our Shale and Tar Sands? Why is it sitting there untouched in the US?

Why are we still debating about drilling in Anwar? Why have we restricted ourselves from drilling in certain places, like in certain areas off our coast?

Why have we restricted ourselves from building new refineries to process the abundant heavy oil that we have?

These oils are never counted in the statistics.