Peak Oil by Chris Martenson Crash Course Chapter 17a part1.mp4

Peak Oil production 101

Lindsey Williams says oil is from an abiotic source. Abiotic, the Earth is making oil from deep below. Lindsey Williams is a preacher. He believes that nothing is older than 10,000 years. Many religious people have the same belief. Oil is made from living matter such as Dinosaurs, Algae, other animals and plant life from millions of years ago. He mentions oil fields replenishing themselves. A depleted oil field that is left alone for a while to rest will allow some oil to seep back to the well that was not pumped out initially. What commonly is not mentioned is that this rested oil field never produces anywhere near the rate that it used to.

If there is abiotic oil out there, in order to extract it, we must find it first! If all this "abiotic" oil is available why has Russian oil production peaked and Saudi Arabia's being on the decline? The USA peaked in 1970 and has been declining ever since with pauses along the way due to new much smaller fields temporarily stemming the decline. The North Sea, Mexico, Prudhoe Bay, Libya, Iran, Indonesia and many others are in decline. Why are the oil companies drilling in inhospitable areas such as in polar and deep water areas? Why not drill for this "plentiful" "abiotic" oil on land? Why the need to drill any new wells at all? Why was Iraq invaded if there is all this abiotic oil? Why are not the countries that have declining oil production drill all new deep wells and use this endless supply of "abiotic" oil? C-12 isotopes and other biomarkers: http://www.rense.com/general58/biot.htm

All new oil fields have pressure that will force the oil up on its own. Eventually the pressure subsides. Artificial lift is needed to pump out the remaining oil. Eventually it gets to a point where it takes more energy to extract the remaining oil than what the oil would produce, EROEI(energy returned on energy invested). This causes extraction costs to increase. The Tiber Oil Field is the oil field that is leaking: http://en.wikipedia.org/wiki/Tiber_Oil_Field

M. King Hubbert, in 1956, predicted that the USA would peak in oil production in 1970. The peak occurred in 1972. He also predicted that the World would peak in 2000. This peak occurred in 2005. Talking about predictions. Since 2005, the World has been on a oil production plateau. The World is expected to come off of this plateau around 2012 to 2014 and World oil production is expected to drop after that. M. King Hubbert: http://www.hubbertpeak.com/hubbert/

"As for Iran, the usually accepted official 132 billion barrels (2.10×1010 m3) is almost 100 billion barrels (1.6×1010 m3) over any realistic assay." Ali Morteza Samsam Bakhtiari, senior expert employed by the National Iranian Oil Company (NIOC) http://en.wikipedia.org/wiki/Ali_Mort...

OPEC changes the quota system in the early 80's. Production there after was based on reserves. The reserves doubled or tippled overnight with no new major oil discoveries. Also the reserves would remain the same for years even though they have been producing oil. http://numero57.net/2010/03/25/the-ab...

Governments and oil company CEOs say that peak oil is decades away if not longer. It is to an oil company's advantage to have as big of an oil reserve as possible. They receive more investment this way. Preaching peak oil would undermine this.

The Illusive Bonanza: Oil Shale in Colorado "Pulling the Sword from the Stone"
http://www.solarblog.com/datas/users/1-OilShale.pdf

The Bakken Formation: How Much Will It Help? http://www.theoildrum.com/node/3868

Shale Gas—Abundance or Mirage? Why The Marcellus Shale Will Disappoint Expectations
http://www.theoildrum.com/node/7075

Oilwatch Monthly: http://www.theoildrum.com/files/2010_...

Statistical Review of World Energy 2010: http://www.bp.com/liveassets/bp_inter...

The Imminent Crash Of Oil Supply: Be Afraid: http://www.countercurrents.org/arguimbau230410.htm

Casey Research: The U.S. Department of Energy finally agrees: We're running out of oil - FAST!
http://www.caseyresearch.com/crpmkt/crpSolo.php?id=165&ppref=HPM165ED1109B

Great Books:
Matt Simmons "Twilight in the Dessert"
Chalmers Johnson "Nemesis"
Richard Heinberg "The Party's Over"
Michael Ruppert "The Rubicon"
James Howard Kunstler "The Long Emergency"
Stephen Leeb "The Coming Economic Collapse"

References:
http://www.chrismartenson.com/
http://www.energybulletin.net/
http://aspo-usa.com/
http://www.simmonsco-intl.com/default...
http://www.theoildrum.com/
http://www.peakoil.com/
http://www.peakoil.net/
http://dieoff.org/
http://www.fromthewilderness.com/
http://www.wolfatthedoor.org.uk/
http://www.oilempire.us/abiotic.html

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[sangolt88]

I dont understand how the US has billions of barrels of oil in the ground, yet cant increase the pumping...

[jimbobubbadj]

@sangolt88 Oil will only flow to the well at a certain rate. The oil is trapped in sandstone or some other porous rock. Each well is very expensive to put in. Put too many wells close to each other and less oil will be pumped out per well. The USA uses 8 billion barrels of oil per year. Only about 5% can be pumped out each year due to flow rate of the oil. The USA has about 28 billion barrels of oil left.

[jimbobubbadj]

@sangolt88 The USA had about 250 billion barrels of oil more than 100 years ago. It has used most of it up.

[steveshredz]

this was very imformative, thank you very much!

[jimbobubbadj]

@steveshredz Thanks. Some support once in a while is very helpful.

[bullenchris18]

there is no peak oil its a lie , there is oceans of oil under our feet , dont buy into it its a scam , there are oil wells that have been pumping oil for 86 years an are still pumpin oil

[sangolt88]

@jimbobubbadj Damn.When do you think the reserves will be empty, or under 1 million barrels per day? Right now I think the US production is about 15% of the overall US consumption.

[jimbobubbadj]

@starmanskye "Iran sought to break the financial stranglehold the US banker-theives had placed on the global currency, you mean" Which they should have tried, kudos to them. "The US's debt-based reserve-currency scam was imposed via blackmail, bribery & intimidation, placing the world in enormous risk via the globalist NWO agenda." Agreed! "The financial crisis is the result of America's fraudulent, predatory capitalism backed by MIC war" Agreed! I don't know what the disagreement is?

[starmanskye]

@jimbobubbadj -- FFS; Iran sought to break the financial stranglehold the US banker-theives had placed on the global currency, you mean. The US's debt-based reserve-currency scam was imposed via blackmail, bribery & intimidation, placing the world in enormous risk via the globalist NWO agenda. get a clue why dontcha? Your head is filled with the nonsense of poisonous propaganda, OR you're a shill. The financial crisis is the result of America's fraudulent, predatory capitalism backed by MIC war.

[DrStrangelife]

@connectingdot1 .. Seems like you seriously need some higher education since your argumentation is, to anyone with technical knowledge, the obvious ravings of a completely clueless person.