Zthustra: Update on Peak Oil (re-upload) (check the description)

Kurtilein3 writes: Subscribe to: http://www.youtube.com/user/zthustra and check out his other videos.

his original upload can be found here: http://www.youtube.com/watch?v=NIrPrDNj5VM please rate / comment / favorite there

i am re-uploading this because i talked about peak oil on my channel in the past, i feel that an update is needed, and Zarathustra just uploaded the perfect update, so why re-invent the wheel? Also, i would like to support him, he definitively deserves a few more subscribers.

Original description by Zthustra:
Peak Oil theory predicts growth in crude oil production, a peak in production represented by a plateau and then a decline in production. The world entered the peak oil production plateu in May 2005 and and appears to have exited after peaking again in August 2009.

Zarathustra examines a chart found at The Oil Drum.

If growth had occured as might have been expected from previous decades, world crude oil production would be about 87 Mbpd. The production plateau was at about 73 Mbpd. Production is now under 71 Mbpd.

Are we past peak? Only time will tell!

http://www.theoildrum.com/

Category:

News & Politics

Tags:

• peak
• oil
• world
• crude
• production
• plateau
• past
• drum
• Zthustra
• zarathustra
• kurtilein3
• economy
• fossil
• fuels
• oildrum
• supply
• demand

[WimDeVolder]

I honestly will not be bittered if China and India will spend as much oil as the Western world did the last century. We all know very well the 2 continents that destroyed our environment during the last century. Perhaps now we can have the courage to live in huts.

[kurtilein3]

i doubt that this amount of oil would still be available. i think that even if china and india would like to do that, they wont be able to. but while the united states can only offer debt to pay for oil, china can pay with cash, they have tremendous reserves, so if they wanted to they could buy enough oil to cause the US and probarbly most of europe to run dry.

i think the US deserves some kind of punishment if they kill the copenhagen agreement like they killed the kyoto protocol.

[Kargoneth]

I am ashamed to live in Alberta, Canada because of our poor conduct regarding our oilsands. We are poisoning the environment and people downstream from the processing plants. The environmental minister Rob Renner is a short-sighted and greedy prick. I just hope we don't fuck up the world with our emissions.

[kurtilein3]

trying to get fuel out of oil sands and oil shale borders on lunacy. too much waste. its not just that it releases more CO² than any other method of getting fossil, it also poisons large areas of land and much of it ends up in the oceans.

there are some experiments going on with fungus that can digest crude oil, maybe this will be the solution one day. if anything can stop it, then activism. civil disobedience. take over some of those facilities (sit-ins) or block their access routes.

[manderssteve]

Between 1990 and 2005 global oil production grew 20 m.b/d or 30 %. From 2005 to 2010 it has remained essentially flat despite prices starting at $30, up to $143, down to $30 and up to $86. Production is unaffected by price, it is running flat out, and usage is regulated by price alone. This has not happened before. This is compelling evidence that we are at peak plateau oil production.

[manderssteve]

The absolute one time peak for oil may have been passed in the first quarter of 2008 according to the data from the EIA. A second or third small peak could happen this or next quarter as we traverse the plateau of production. Saudi Arabia has the capacity on reserve to delay things a couple of years if they chose to. Is peak 5 or 10 years off in the future, no! Existing wells deplete 7 % per year, new discoveries come in at 1/10 the rate of usage. Peak oil discovery was 1962.

[MrEnergyCzar]

Good chart..I'd love to see a chart showing the net energy for oil being you have to use more and more energy to keep the production the same...I've been preparing for peak oil and made a video about it called, "Preparing for Peak Oil"..

[tattooskin72]

always love his videos :)

[yogiudo]

This chart includes heavy oil.

The chart for WTI is way worse.

[pmarie2003]

Thanks, I just subscribed to this gentleman's channel.