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.
As a result, it is widely agreed that oil production in the non-Opec world will "peak" - reach its maximum possible level - within two years, if it has not already done so. This means that the huge profits being made by multi-nationals such as Shell or ExxonMobil may turn out to be their last hurrah. "The days of the international oil companies are coming to a glorious end," said Fatih Birol, chief economist of the International Energy Agency, last month. "Their reserves are declining and they will have difficulty accessing new ones."
Unfortunately, this means that the global oil supply will soon depend on Opec as never before. Many analysts suspect that the Opec countries, which claim to hold three quarters of known reserves, have been exaggerating their size for decades - in other words, they too will soon reach the physical limits of production.
telegraph _________________ 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.
Joined: Aug 03, 2007 Posts: 4376 Location: Boston Suburbs
Posted: Fri Aug 08, 2008 11:28 pm Post subject: Re: Have we reached the end of the road for oil?
This is not presented as a general news article representing scientific concensus. It's presented as an editorial, with the disclaimer:
"Petrol prices are set to fall this autumn, but David Strahan argues that oil is now so scarce that it may never be affordable again"
And ending with:
"David Strahan is the author of 'The Last Oil Shock' (John Murray), which is available from Telegraph Books for £8.99 + £1.25 p&p. To order, call 0870 428 4112 or go to books.telegraph.co.uk"
It's far too easy for people to cast these types of articles aside on the basis of an alarmist looking for a quick buck from book sales.
----
Unfortunately, all too much peak oil in the press originates with an individual "chicken little" who is sounding the alarm rather than a neutral party of concerned scientists (such as the IPCC with global warming). It really doesn't matter how big the figure is. T Boone Pickens, for instance, is still an individual and people can easily say the guy's gone senile or just looking to make a buck off of his natural gas holdings. _________________ As long as I am around, there are no worries we have reached "Peak Words"
Joined: Apr 05, 2005 Posts: 1643 Location: Springsteen Country (NJ)
Posted: Sat Aug 09, 2008 12:34 am Post subject: Re: Have we reached the end of the road for oil?
mos6507 wrote:
It's far too easy for people to cast these types of articles aside on the basis of an alarmist looking for a quick buck from book sales.
Of course it is. It's designed that way to keep the masses out shopping.
Quote:
Unfortunately, all too much peak oil in the press originates with an individual "chicken little" who is sounding the alarm rather than a neutral party of concerned scientists (such as the IPCC with global warming). It really doesn't matter how big the figure is. T Boone Pickens, for instance, is still an individual and people can easily say the guy's gone senile or just looking to make a buck off of his natural gas holdings.
Which is why the numerous studies cited in our Peak Oil Studies & Energy Reports forum here are never mentioned in the mass media. If the populace was to catch on to the fact that the powers that be know all to well that platitudes such as off-shore drilling and alternative energy are mere ploys to keep them happily spending the fruits of their labors on useless crap, there would be a world-wide revolution.
About the only thing keeping capitalist serfs happily slaving for their masters is the delusion that they too will one day be rich. When the realization hits that it will never happen, all hell will break loose. I'm so glad so many Americans still have guns. _________________ Joe P. United Political Debate
"Only when the last tree is cut; only when the last river is polluted; only when the last fish is caught; only then will they realize that you cannot eat money." - Cree Indian Proverb
Posted: Sat Aug 09, 2008 6:46 am Post subject: Re: Have we reached the end of the road for oil?
David Strahan is one of the best known business journalists in the UK, so if he is an alarmist book-plugger, everyone complaining about gas prices over here should pretty much shut up and disbelieve their bank statements.
I have read his book incidentally, and recommend it to anyone wanting the story told from a UK perspective. The criticism of government energy policy is spot on and withering. He took them to task on things they take for granted attract no comment. _________________ Volatility. When life isn't exciting enough.
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