[Cobra64]

How do you produce more if your source of supply decreases?

[Dog Gone]

Don’t ask intelligent questions on a thread that has already decided it’s a Big Oil conspiracy.

[rwh]

How do you produce more if your source of supply decreases?

I suppose in a sense supply has decreased steadily since the first oilwell started producing. However, knowing where the climax of peak oil is is quite difficult, given large oil finds which are happening almost yearly now. In addition to this, technology is improving at an exponential rate in the oil and gas recovery sector and is allowing us to exploit fields that were not possible to drill in years past. Technology is also allowing us to go into "depleted" fields and recoup oil that was essentially unproducable with yesterdays technology. To truly know where "peak oil" is we would need to know what our future technology is and where all the fields on earth lay. A quite impossible task. Shells CEO was on CNBC this morning and made the point that the problem is not in producing more oil right now, the problem is the politics that limit the production of that oil.

[lewislynn]

How do you produce more if your source of supply decreases?

The bigger question is WHY produce more when there's more than enough AND you're getting record profits to boot?

I think it's odd that almost every week there's an article posted here about how much oil there is to be got, yet EXXON doesn't seem to know anything about any of it.