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.
Posted: Tue Jul 15, 2008 5:09 am Post subject: GAO REPORT ACKNOWLEDGING PEAK OIL (old- 2007)
I posted a link to a GAO report, then realized the stupid thing is from 2007! So I feel silly now with such old news, I'm not able to delete the forum post so here's the report anyway:
So sorry everyone for the old news spam. I'm still glad I ran across it, as I didn't previously realize the federal government acknowledged the reality of peak oil. It's also interesting to see in the report the main bullet points I've learned from this website -- namely, that it's unlikely alternative energy techs can be developed quick enough to avoid what the report calls "severe consequences."
Joined: Jan 16, 2005 Posts: 320 Location: Delft, Netherlands
Posted: Tue Jul 15, 2008 7:14 am Post subject: Re: GAO REPORT ACKNOWLEDGING PEAK OIL
Yep, everybody with half a brain currently acknowledges peak oil is probably here, or at least not far off. The discussion about the severity of the consequences is what matters now.
As before, there is still a sizable cornucopean camp out there which thinks that even with $500 oil, all will be well. There are even people welcoming the high prices in it's expected function as a stimulant for otherwise uneconomical sustainable development!
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I'm still glad I ran across it, as I didn't previously realize the federal government acknowledged the reality of peak oil. It's also interesting to see in the report the main bullet points I've learned from this website -- namely, that it's unlikely alternative energy techs can be developed quick enough to avoid what the report calls "severe consequences."
