Posted on 10/29/2007 4:21:44 PM PDT by blam
Depleting oil supplies threaten 'meltdown in society'
29 October 2007
NewScientist.com news service
It is downhill all the way for oil, according to a study by the Energy Watch Group (EWG) in Berlin, Germany. It reported this week that world oil production peaked in 2006 - far earlier than expected.
EWG analysed oil production figures and predicted it would fall by 7 per cent a year, dropping to half of current levels by 2030. The announcement comes as oil prices reached record highs last week, at more than $90 a barrel, and contradicts optimistic projections by the International Energy Agency in Paris, France.
The report also predicts significant falls in gas, coal and uranium production. The group warns that supply shortages could cause "a meltdown in society", leading to scenes of mass unrest, such as those that took place in Burma earlier this month when the government pushed up fuel prices.
(Excerpt) Read more at environment.newscientist.com ...
We might be better off with a meltdown than the government orchestrated incompetence and deliberate malfeasance that we currently have.
Oil-shale deposits are in many parts of the world. They range in age from Cambrian to Tertiary and were formed in a variety of marine, continental, and lacustrine depositional environments. The largest known deposit is in the Green River Formation in the western United States; it contains an estimated 213 billion tons of in-situ shale oil (about 1.5 trillion U.S. barrels).
Total resources of a selected group of oil shale deposits in 33 countries are estimated at 409 billion tons of in-situ shale oil, which is equivalent to 2.8 trillion U.S. barrels of shale oil. These amounts are very conservative because (1) several deposits mentioned herein have not been explored sufficiently to make accurate estimates, and (2) some deposits were not included in this survey.
Oil Shale. We've got a $h!+load ... Look
Hyperbolic alarmism based on a controversial theory.
But I’ve got to get going now, it’s my day to buy lots of ammunition.
BS!
Believing in “peak oil” is as foolish as believing that oil is the byproduct of decaying dinosaurs.
Civilization did not emerge from the stone age because we ran out of stones. Aside from the fact that there was no government to screw up the works, we now know that we have more oil and sources of oil, coal and a multitude of ready energy sources readily available. What we do not have are policy makes with “rocks”.
That’s okay, there are about 1000 or so threads about the collapse of the housing market. So, no houses, no need for oil to heat them. Problem solved again!
We know oil is getting increasingly more expensive to find and produce. Environmentalists won’t let us drill where its less expensive so we have to go deeper. The middle east and VZ continues to get more volatile and unfriendly towards us. And now we have global warming zealots wanting to restrict our ability to bring new power plants online. Put all that together spells self-inflicted trouble down the road as supply struggles to keep up with demand.
Alarmism with an agenda. I googled the Energy Watch Group. It looks to me like a front for the German Green Party.
I really should get my bicycle out of storage.
CAn we drill in Anwar, yet???
What is the energy cost required to extract fuel from oil shale, per gallon of usable product?
yeah well...when putin and aminadejabba turn their spigots back on the supply will un-deplete.
See the use of GW causing fossil fuels will decrease all by itself.
Shell Oil believes they can commercially produce Oil Shale at $30 a barrel and yielding 3.5 units of energy for every 1 unit used in production.
Seebach: Shell's ingenious approach to oil shale is pretty slick
http://www.rockymountainnews.com/drmn/news_columnists/article/0,1299,DRMN_86_4051709,00.html
They were talking about this in the 1920s. Then the East Texas field came in, and all of a suddent we have a glut. IAC. the price os oil is just now getting to the point where capital will start moving to alternative sources. Heck, we might even start up new atomic plants.
The same crap was on display back when Nixon floated the dollar. We contract long term with the oil producers at $10/barrel then slash the value of the dollar by 2/3. Then we get all pissy when they jack the price up 2/3. Peak oil is just another BS notion brought about by a unstable dollar & enviro-nazis. Remember the global cooling "prediction" of the 70's?
I saw an old clip from Meet the Press last year where they had oil company execs on talking about the "oil shortage' back in the 70's. It was instructive how they pointed out the impact of a unstable dollar and how it impacts long term investments with oil & gas. Even today, they can only protect investments by going to the "JIT" (just-in-time) model of supply. Does that sound familiar to any other industries?
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