Spanktron9 wrote:First of all, thank you to this community for a reasoned (usually) discourse on this most important topic.
I have been reading, studying, lurking on this and other boards for some time, but have yet to come up with a clear answer when I explain the fundamentals of supply/demand to people with regards to peak oil. The question I get is- "If we are using 86 million barrels, and we are only producing 85 million, who is going without oil?"
Am I correct in answering a combination of:
1) Stockpile depletion
2) Demand destruction
3) Shortages and brownouts in various locales around the world
?
If that isn't the best answer, can someone enlighten me?
Spanktron9 wrote:Thanks for the cogent responses. So it basically as I thought. I didn't realize the daily shortfall was that large though!
UK Industry Taskforce Sounds Alarm on Peak Oil
Posted by Chris Vernon on November 5, 2008 - 7:59pm in The Oil Drum: Europe
On Wednesday 29th October 2008 I attended a press conference at the London Stock Exchange. The meeting was convened by the "Industry Taskforce on Peak Oil & Energy Security" (www.peakoiltaskforce.net) to introduce a new report: The Oil Crunch, securing the UK’s energy future.
September last year, former US Energy Secretary Dr James Schlesinger addressed the ASPO6 conference in Cork, Ireland with these words:
The peakists have won ... to the peakists I say, you can declare victory. You are no longer the beleaguered small minority of voices crying in the wilderness. You are now mainstream. You must learn to take yes for an answer and be gracious in victory.
The taskforce behind this report formed around 18 months ago.
Click to download .pdf
Wednesday's meeting proved Schlesinger right. A group of serious, respectable organisations, had just published a serious and respectable report, in a serious and respectable venue stating:
The effects of peak oil will be felt in the next five years.
The risks to UK society from peak oil are far greater than those that tend to occupy the Government's risk-thinking, including terrorism.
The UK Government needs to re-prioritise peak oil – as the impacts are more likely to arrive first – before climate change.
The Taskforce
"no longer the beleaguered small minority of voices crying in the wilderness".
FirstGroup plc – the world’s leading transport company. Annual revenue of over $5bn, 137,000 employees and carry more than 2.5bn passengers per year.
Scottish and Southern Energy (SSE) – one of the UK’s big six electricity companies.
Solarcentury – one of Europe's leading solar energy companies, specialising in design and supply of building integrated solar thermal and electric technology.
Stagecoach Group – public transport group operating bus, coach, rail and tram services. Employs around 30,000 people with extensive operations in UK, US and Canada.
Virgin – a leading branded venture capital organisation, has created more than 250 branded companies, employs approximately 50,000 people in 29 countries. 2007 revenue exceeded $22bn.
Arup – a global firm of designers, engineers and business consultants with over 10,000 staff working in 37 countries.
Foster + Partners – an international studio for architecture, planning and design.
Yahoo - a leading Internet services company.
thuja wrote:Man things have changed fast in the Peak Oil world since the economic meltdown. Gas prices plummeting. Demand Destruction. Silver and Gold down huge. Doomers like Rocc and Cashmere jumping ship.
So now a prolonged recession and the likelihood of ongoing demand destruction for a while, maybe years.
So whither Peak Oil...? We were so cool for 6 months. Remember 147$ barrel oil? The depletion continues but no one cares anymore...this subject is so dead out there right now...
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
vtsnowedin wrote:For that matter is there consensus here about what the government should be doing in light of peak oil?
Tanada wrote:My big concern is it appears at this point the new Administration is going to go after fossil fuel reductions in a big way. Given Peak Oil that is going to happen no matter what they do, but a side effect of this is they will be blamed for the effects of Peak Oil despite the fact that nothing they can do will keep it from happening.
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