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 Post subject: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 9:08 am 
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Interesting article on 'Peak Oil' hysteria by Michael Lynch in NYT.


Quote:
‘Peak Oil’ Is a Waste of Energy
<<>>
In the end, perhaps the most misleading claim of the peak-oil advocates is that the earth was endowed with only 2 trillion barrels of “recoverable” oil. Actually, the consensus among geologists is that there are some 10 trillion barrels out there. A century ago, only 10 percent of it was considered recoverable, but improvements in technology should allow us to recover some 35 percent — another 2.5 trillion barrels — in an economically viable way. And this doesn’t even include such potential sources as tar sands, which in time we may be able to efficiently tap.

Oil remains abundant, and the price will likely come down closer to the historical level of $30 a barrel as new supplies come forward in the deep waters off West Africa and Latin America, in East Africa, and perhaps in the Bakken oil shale fields of Montana and North Dakota. But that may not keep the Chicken Littles from convincing policymakers in Washington and elsewhere that oil, being finite, must increase in price. (That’s the logic that led the Carter administration to create the Synthetic Fuels Corporation, a $3 billion boondoggle that never produced a gallon of useable fuel.)

This is not to say that we shouldn’t keep looking for other cost-effective, low-pollution energy sources — why not broaden our options? But we can’t let the false threat of disappearing oil lead the government to throw money away on harebrained renewable energy schemes or impose unnecessary and expensive conservation measures on a public already struggling through tough economic times.


http://www.nytimes.com/2009/08/25/opini ... ef=opinion

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 Post subject: Re: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 9:27 am 
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The old peak oil question rears its ugly head again! It's becoming a bit like the global warming, cooling, changing or whatever debate.

While there are so-called chicken littles running around, the main concensus as far as I can gather is one where there isn't a dispute that in-the-ground oil exists in sufficient quanitities to feed our current needs but that the demand for crude should hypothetically increase as the likes of China, India and other emerging economies strive to reach our Western standards of consumption. Also, as your excerpt pointed out, we have newer technologies which can extract oil but these technologies are costly and therefore increase the price per barrel of oil. There is also the question of the types of oil being recovered. Sweet crude is becoming a rarer commodity. Thus, the price per barrel is increasing as more refining of non-sweet crude takes place. In fact, the debate (and market pricing imo) currently revolves around the expectation of future sources of new demand and the costs of extraction.

The entire 'peak oil' debate is a misnomer anyway, and the NYT reporter probably knows this or he/she shouldn't be reporting on such an important topic. The 'peak-oil' nomenclature derives from the fact that discoveries of new, previously unknown sources of oil (may) have peaked - not oil supplies themselves.


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 Post subject: Re: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 9:33 am 
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The Stone Age didn't end because we ran out of stones.


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 Post subject: Re: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 9:36 am 
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Location: Over Macho Grande? I don't think I'll ever be over Macho Grande...
Tyler wrote:
The Stone Age didn't end because we ran out of stones.


It's just aswell, those stones were awful tough to burn and they were fuck all use at generating energy. Very inefficient.

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 Post subject: Re: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 10:49 am 
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Location: Baile Atha Cliath
bungaloid wrote:
Interesting article on 'Peak Oil' hysteria by Michael Lynch in NYT.


Same Michael Lynch as here http://peakoil.com/peak-oil-discussion/ ... el%20lynch
He posts/posted as Spike if I remember correctly, if it's the same person I wouldn't waste my time with his latest article.


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 Post subject: Re: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 1:20 pm 
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Thank goodness we have the truly terrifying and immediate global financial crisis to distract us from the more decadent and long-term global warming panic.


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 Post subject: Re: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 1:47 pm 
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I'm not sure if you're being factitious or not jihle. But in all seriousness peak oil isn't that scary. The stone age didn't end because we ran out of stones.

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 Post subject: Re: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 1:54 pm 
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Another Green canard exposed. Besides propping up the party of property developers-what are the Greens for?


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 Post subject: Re: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 2:13 pm 
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Location: Over Macho Grande? I don't think I'll ever be over Macho Grande...
Bigby wrote:
The stone age didn't end because we ran out of stones.


Would people please stop using that line...

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 Post subject: Re: 'Peak Oil' far, far away
PostPosted: Tue Aug 25, 2009 2:20 pm 
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The Unwelcome Guest wrote:
Bigby wrote:
The stone age didn't end because we ran out of stones.


Would people please stop using that line...

The bronze age didn't end...

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