seenmostofit wrote:
According to a post and information provided elsewhere in this website, C&C production has reached an all time high. Again. It sounds as though BP might be a tad behind the times.
vision-master wrote:One of these many small temporary peaks, eh shorty.....
ralfy wrote:The fact that it doesn't meet oil demand and that the industry now resorts to non-conventional sources is proof of peak oil.
ralfy wrote: In order to "bury" peak oil we should be seeing more discoveries of light oil that should exceed oil demand, and with no need to resort to non-conventional sources. That is not taking place.
seenmostofit wrote:
Would you happen to have the link to a definition somewhere on peak oil which says that? Because the one I found on wiki seems to relate to extraction rates and whatnot. Clean, concise, terminal decline, and not a word about conventional or non-conventional soured, or even supply and demand.
"Peak oil is the point in time when the maximum rate of petroleum extraction is reached, after which the rate of production is expected to enter terminal decline."
http://en.wikipedia.org/wiki/Peak_oil
My impression of the OPs original post was that "burying" was related to someone trying to hide or cover up the occurrence or idea of peak oil, and has nothing to do with discoveries, or demand, or how fast either is increasing or decreasing.
ralfy wrote:What you post doesn't contradict my argument.
ralfy wrote: In order to "bury" the idea of "peak oil' one has to show that petroleum extraction will never reach a "maximum rate."
ralfy wrote:My impression of the OPs original post was that "burying" was related to someone trying to hide or cover up the occurrence or idea of peak oil, and has nothing to do with discoveries, or demand, or how fast either is increasing or decreasing.
No, it's not. Read the article carefully. The opposite is, in fact, argued: peak oil is "widely believed" but is not true because "the world has plenty of oil." The reason for that argument is that the points you raised in your last paragraph were hardly considered.
seenmostofit wrote:
I didn't say it was going to. I simply requested a link to a definition which included all the extra stuff which you implied was part of peak oil. The definition from wiki doesn't include such things, hence my request.
In order to "bury" the idea of peak oil, one has to show that the oil companies are actively discouraging people from thinking about it, trying to hide the idea so it isn't published in the MSM, basically to keep it hidden from the sheeple and whatnot.
It is impossible to read the original article carefully, it is behind a subscription wall. Certainly from the snippet provided it is difficult to tell much of anything except part of the setup the author wishes us to see early. Who knows what they say next, but obviously there are faults even early in the preview. Ufortunately, they titled the snippet in such a way that it is not clear how they mean the oil companies buried the idea, when all of us are well aware of the idea, have been aware of it for more than half a century, and it is published about on a regular basis.
>Thus, in order to "bury" the "idea of 'peak oil,'" we need to see an increase in conventional sources to meet increasing consumption. This has not been taking place for the past five years, which is why the IEA has concluded that we are now in peak oil.
OilFinder2 wrote:Ladies and gentlemen, boys and girls. May I have your attention please.
The EIA has now reported that the world has a new crude and condensate production record. As of December, 75.4 million barrels/day were produced, compared to the previous records of 74.8 million barrels/day in November, 75.2 million barrels/day in December 2010, and 74.6 million barrels/day in July 2008. Numbers are rounded off.
We also have a new yearly crude & condensate record of 73.964 million barrels/day, eclipsing the previous record of 73.889 million barrels/day set in 2010. Yes, that's correct: Last year the world produced nearly 74 million barrels per day.
Thank you, and have a nice day.
meemoe_uk wrote:
New sources of oil don't need to be conventional. A society starved of oil isn't going to ignore unconventional sources just to apease and vinidcate the POisNOW gang. The totem of conventional oil is an absurdity that POers have built in the safty of PO dens. It has no power in the real world and when the time comes, society will extract unconventional oil en mass.
At the moment there's no real need of mass unconventional oil. Huge amounts of conventional oil are being developed around the world but mostly in the middle east. This new supply will feed the world and its increasing demand for the next 20 years. The bounty of the development has been apparent in the IEA and EIA charts of the last couple of years - record oil production.
The IEA and other authorities have been concluding peak oil is now for decades. Its because they are paid to fanfare such conclusions, even though all their data says the opposite.
You wouldn't have to pay me much to hype the myth of peak oil is now!.
ralfy wrote:That's it: I've to put you back in my ignore list. I don't see why I should waste more time explaining basic points to you.
Can we please just declare the end of 'peak oil' and start worrying about something important?
Apparently something terrible happens when we get to peak oil. I've never really quite understood the argument myself, but when we've used half of all the oil then civilisation collapses or something. I'm not sure why this should happen: we don't start starving when there's only half a loaf of bread left. But I am assured that something awful does happen.
Even if we accept the geological conventional wisdom, then there's still no cause for panic. Prices will rise, yes, so people will go off and do other things. Either use something else instead of oil (that ever cheaper shale gas for example) or simply doing things that require less energy. That's what a price system is for, after all, providing the signals that a certain resource is in scarce supply.
But the thing is, we really shouldn't be accepting this geology either.The Green River Formation—an assemblage of over 1,000 feet of sedimentary rocks that lie beneath parts of Colorado, Utah, and Wyoming—contains the world’s largest deposits of oil shale. USGS estimates that the Green River Formation contains about 3 trillion barrels of oil, and about half of this may be recoverable, depending on available technology and economic conditions. The Rand Corporation, a nonprofit research organization, estimates that 30 to 60 percent of the oil shale in the Green River Formation can be recovered. At the midpoint of this estimate, almost half of the 3 trillion barrels of oil would be recoverable. This is an amount about equal to the entire world’s proven oil reserves.
Yes, we do know how to get this out: these reserves are similar to the Bakken shale in North Dakota that is spurting out oil as you read.
So, peak oil wouldn't be a problem if it did happen and it's not going to happen anyway. So can we please just declare the end of peak oil and get on with worrying about something important instead? Like, say, what is the solution to Simon Cowell?
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