ROCKMAN wrote:dashster - Why do you care when people talk about not caring about the peak of conventional oil? If you don't care about us just ignore the discussion. LOL.
dashster wrote:Based on the graphs on the current front page news article:
http://peakoil.com/production/eia-world ... ion-update
It doesn't seem that conventional crude production could have peaked in 2005 as Stephen Kopits said. The earliest would be 2008, as that was higher than 2005 and there appears to be no gain in tar sands or shale oil during 2008.
Pops wrote:All politics is local, all economics is kitchen table and all oil peaks will likewise be personal.
Then fuel prices doubled and doubled again and people were caught in a trap where they had to drive to make the mortgage but driving was too expensive. Now, there were obviously other things going on, the equity appreciation they had been told was a permanent feature turned out to be a bug; many were lied to and in turn lied back regarding their qualifications and all the rest. But the upshot was, when the price to drive shot up too fast to adapt, in a month or two they were done for.
Those folks have lost all of their equity in addition to all the loses in their other assets. I have a relative who owned several rentals and a nice house who is utterly grateful to have finally been able to get out from under and now have a mortgage on a trailer in a park that he pays out of his social security check. People want to say that the crash had nothing to do with oil but I know that to be wrong in the valley, around particular kitchen tables.
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ralfy wrote:dashster wrote:Based on the graphs on the current front page news article:
http://peakoil.com/production/eia-world ... ion-update
It doesn't seem that conventional crude production could have peaked in 2005 as Stephen Kopits said. The earliest would be 2008, as that was higher than 2005 and there appears to be no gain in tar sands or shale oil during 2008.
I think the peak refers to an average:
http://crudeoilpeak.info/world-crude-pr ... 005-levels
dashster wrote:
A yearly average peak? From that graph it doesn't look like 2005 would be a candidate for that either. I have been telling people that 2005 was the peak in conventional oil based on what Kopits said in his presentation, but it doesn't appear that could possibly be right. That graph you linked to shows 2011 as the peak to date.
ralfy wrote:dashster wrote:
A yearly average peak? From that graph it doesn't look like 2005 would be a candidate for that either. I have been telling people that 2005 was the peak in conventional oil based on what Kopits said in his presentation, but it doesn't appear that could possibly be right. That graph you linked to shows 2011 as the peak to date.
I am referring to the 2005-2013 average (the dotted line).
Peak oil does not occur when we run out of oil. Peak oil occurs when the marginal consumer is no longer willing to pay the cost of extracting and processing the marginal barrel of oil. And we can actually calculate what the related numbers are.
ROCKMAN wrote:JV - "...and oil consumption in Asian and Middle Eastern countries soars". And this is the point I'm beginning to focus on: the consumers don't consume oil...they consume refined products...mostly motor fuel. Since 2005 the world has consumed more gasoline then ever before. The same is true for diesel. In fact, according to the EIA, in 2013 the world's consumption of gasoline, diesel fuel, jet fuel, heating oil, and other petroleum products reached a record high of 88.9 million barrels. So maybe convention crude oil might have peaked in 2005. Maybe not. But since consumers buy refined products and not conventional crude oil is that the critical question? However the industry is doing it we're meeting the world's demand for more energy. But that energy is costing a lot more today then in 2005. It might happen in the next few years but at the moment refined petroleum product production has yet to peak.
ROCKMAN wrote:Very rarely ever am annoyed by anyone here. It's why I use so many LOL's so folks don't read any unintended harshness in my words.
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