dcoyne78 wrote:AdamB wrote:dcoyne78 wrote:worldcc2.jpg
What happened to the peak oil declared in 2008 by the halfwits at the oil drum? Did someone change the information to make it go away?
As you may know oil output did not peak in 2008.
But the half wits said it did!!! How dare they lie!!
http://www.theoildrum.com/node/5177dcoyne78 wrote:Clearly the rate of growth in oil output has slowed, even with real oil prices at a level 6.6 times higher from 2006-2016 than they were from 1960 to 1970.
1960 to 1970 was the end of cheap oil (Colin Campbell needing nearly 3 decades more to pretend it was in the near future), of course everything since then has been more expensive in real terms. And who cares about the rate of growth, that mitigated exactly because of the end of cheap oil, it is called efficiency. Energy intensity has been dropping since that time, fuel efficiency has been increasing, and some of us don't even fill our cars with gasoline anymore! Can you imagine that? People right here on this website told themselves that peak oil in 2005 would itself stop anything from mitigating peak oil, Who Killed The Electric Car being all the rage as a reference!
Needless to say, those of us who don't use gasoline in our cars any more laugh about how little peak oilers know about resource economics.
dcoyne78 wrote:If oil is so abundant, why aren't oil prices $11/b, rather than $60/b?
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See my other post demonstrating the proper way to talk about abundance. I should also mention, at the IEW (International Energy Workshop) at the University of Maryland this past July, other big energy analysis organizations were doing exactly the same. The future isn't about prices today, but the prices of tomorrow, and where the resource cost curves say that oil is, and how much can be developed at any given price.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."
Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"