Peak Oil - Last Oil Shock - (part 1 of 4)
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@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
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@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.
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@sandcut1 In that case it has already happend
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@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.
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@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
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@sandcut1 1970
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@florgat91 google alaskan oil reserves downgraded by 90% 2010
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@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.
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Matt Savinar kick ass! he educated me and many many others.
cipi604 3 years ago 9
@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?
sandcut1 1 year ago 5