I will believe the Saudis don't see any upcoming problems with Ghawar when they cancel one of their projects due to low oil prices. If they continue to be full steam ahead with increasing their capacity then I think they are aware that Ghawar may not be as robust in 5 years time as they would like us to believe.
Joined: Mar 04, 2005 Posts: 2729 Location: New Zealand
Posted: Mon Oct 20, 2008 8:55 pm Post subject: Engineers warn of imminent oil shock
Engineers warn of imminent oil shock
Quote:
Engineers are warning politicians that the lull in oil prices will be short-lived, and New Zealand is headed for sustained job losses unless it boosts energy efficiency efforts.
Senior North Shore City transport strategist Archer Davis, speaking on behalf of Engineers for Social Responsibility, said a conservative estimate of a 4 per cent annual decline in oil supply raises the prospect of a 12 per cent contraction of New Zealand's economy over 15 years.
"We are looking at losses of jobs, people losing their income, we are looking at severe issues here," he told Auckland Regional Council members in a call to action after a joint conference of the engineers' group and the Sustainable Energy Forum on how to prepare for oil shortages.
nzherald _________________ Human history becomes more and more a race between education and catastrophe. H. G. Wells.
Fatih Birol's motto: leave oil before it leaves us.
Posted: Tue Oct 21, 2008 4:27 am Post subject: Re: Engineers warn of imminent oil shock
Thanks for the link Graeme. I'm sure this is NOT restricted to one country, as indicated in the article. As an engineer, I can relate to the difficulty of convincing non-technical people of things they don't want to hear. Hopefully, this man is in a position of enough influence to start some positive changes. If only other countries would listen! _________________ Local fix-it guy..
Posted: Tue Oct 21, 2008 4:51 am Post subject: Re: Engineers warn of imminent oil shock
Seriously, with petrol down 40 cents, no one cares anymore. They're worried about their mortgages and how much cheese costs. Oil is absolutely back off the horizon for 99.9% of NZers.
Joined: Jun 03, 2008 Posts: 189 Location: Terrified beyond the capacity for rational thought
Posted: Tue Oct 21, 2008 6:13 am Post subject: Re: Engineers warn of imminent oil shock
yeahbut wrote:
Seriously, with petrol down 40 cents, no one cares anymore. They're worried about their mortgages and how much cheese costs. Oil is absolutely back off the horizon for 99.9% of NZers.
Yeahbut-
It is not just NZ, believe me. Americans are just as bad, if not worse. The most salient issue gets all the focus, and everything else, just disappears. GW is a great example. When the economy was good, people were really concerned about GW and it was the chic topic. Then oil got expensive, and it was f*ck GW "drill, baby, drill!" I want cheap gas! Then the economic collapse and the collapse in commodities, and people don't give a crap about oil pricing anymore. the huhmerican populace can only focus on one thing. sad. _________________ Who are you going to turn to when all the crazy Peak-oil doomers end up being right?
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