Quote from the article.

"Critics may argue that there may actually be plenty of oil left underground, but "easy" and cheap oil is gone forever. This view is partially true."

So the coming century will overflow with very expensive oil? Who writes this s**t?

Pay a guy enough and he'll say just about anything. Even nonsense like that.

Pay me $10 and i'll kiss my sister

And the rest of that paragraph said . . .

Which is why he said it was only "partially" true.

I'll trust this article before listening to anything penned by Maugeri. He's plain and simply a Shill. Typical for a corny to post something like this. You just don't see it.

http://www.theoildrum.com/pdf/theoildrum_5865.pdf

It always puzzles me that people are willing to get fire insurance, car insurance and even life insurance, even though the probability of a house burning down is very low, say less than 1%.

Would you listen to someone who claims, don't worry about fire, you are 99% safe, so why get insurance? No, because in the event the house DOES burn down, you are way better off with insurance, and if the house really never burns down (which IS likely), no big harm done in paying for the insurance.

But somehow , with peak oil, even though I hope even the optimists agree that the probability is higher than say 1% that we reach a peak within the next 10 years (I would say 99% sure!), optimists prefer NOT to prepare (= insure), and even lots of pessimists don't do anything. Why?

To me it is the same as fire insurance.
if no PO happens in 10 years, it didn't hurt much to prepare (like, we are building a solar passive house, stocking up on supplies, learning to garden - which is nice in any situation).
But if PO happens, I will be very, very glad to be prepared and you can be hurt a lot if you didn't!!!

Cheno

And what would you do to her, if I paid you $100?

Would that be the decade that included the cost cutting measures that led to piper alpha? And would that be the same province that one decade later peaked and went into terminal decline?

Practice with me OP -

"Oil is at 80 because of speculation. It's all speculation. The fundamentals warrant a price of 20 bucks a barrel. Speculators have caused the price to be four fold its real level. When oil goes to 100, it will be due to speculation. When oil goes to 150, it will be speculation. When oil is rationed by the government, it will be due to speculation. When you are riding your donkey cart, it will be due to speculation."

Eventually, OP, even the blind to whom you preach will determine that there are no clothes on your Emperor.

If I pay you $10, can I kiss your sister instead of you?

Speculation is blamed for too many things... a convenient boogey-man.

(sort of like short-selling being blamed for stock problems when short-sellers were simply the people pointing out the emperor is naked)

It's not speculation, it's the sh@tty dollar, because we can't afford the high cost of energy.

Why does it have to be just ONE thing. Can't it be a conbination of _some_ speculation with _some_ weakness in the dollar?

Almost every failure to predict is due to not factoring in all the gears that make a system run. That's why peakers like Matt Simmons failed to predict the oil price crash, for instance. You have to wise up and recognize the world is a complex system.

I've seen his sister and she should pay you.

There we go

The coming century will overflow with petroleum?????????.
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You Crack Me Up! Oily