markie
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| "Peak oil" |
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If you do a Google search for: "Is the U.S. running out of Oil?"
or "peak Oil", all kinds of hits come up..Is there any creditablity to any of the info out there??
Here is one URL
http://www.lifeaftertheoilcrash.net/
Or is this just "Doom and Gloom?"
Occasionally I read about the expanding economy of China and India and how they will consume more and more oil eventually driving the price up as demand outstrips world supply...with bad things for the US, but then the battle cry was "The world is running out of Oil" in the early 70's during the oil embargo....just wondering
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Wed Jan 11, 2006 6:20 am |
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auggyf
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Location: San Francisco
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| Re: "Peak oil" |
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quote:
Originally posted by markie
If you do a Google search for: "Is the U.S. running out of Oil?"
or "peak Oil", all kinds of hits come up..Is there any creditablity to any of the info out there??
Here is one URL
http://www.lifeaftertheoilcrash.net/
Or is this just "Doom and Gloom?"
Occasionally I read about the expanding economy of China and India and how they will consume more and more oil eventually driving the price up as demand outstrips world supply...with bad things for the US, but then the battle cry was "The world is running out of Oil" in the early 70's during the oil embargo....just wondering
I don't think I (and probably most people on this board) are qualified to answer this question. There are many engineering, biological, chemical, and even political issues that need to be known while answering this question.
My suggested approach is to observe the futures markets. There you have experts' best guesses for this question (and other, more short-term questions as well) and takes into account risk. Since no group can definitively predict the future, the market won't always get it right, but it can make the collective best guess with expected risk taken into account. Some call this the 'wisdom of crowds' philosophy.
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Thu Jan 12, 2006 4:10 pm |
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financechoices
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The issue isn't really that oil will run out as such, because the pricing mechanism will prevent this. Oil could possibly become prohibitivly expensive however and there is much debate on when this might happen.
There was a report on this for the US government that was apparently hushed up called the Hersch Report. Do a Google for it to find out more info.
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Fri Jan 13, 2006 9:52 am |
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markie
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Thaks for the replys ! I live in Alaska, winter last from October to April and with home heating oil hovering around $2.50 a gallon, most everything has to be trucked, flown or shipped up here, so when petro takes a big jump i price and analyst start talking of $100 a barrel oil, my ears perk up like a mere-cat.....
One day I'll move someplace warmer...
Thanks again for the input....
Frozen Assets in Alaska
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Sat Jan 14, 2006 4:41 pm |
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avenger
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Location: Australia.
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| peak oil |
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hi to all,
you better believe it buddy.
"deal with reality or reality will deal with you"
for more;
http://www.lifeaftertheoilcrash.net/
http://www.oilcrash.com/
[i have no financial interest in these sites]
many links to other sites.
many thanks,
jim.
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Wed Aug 23, 2006 10:23 pm |
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thebeave
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Well, we have a little while longer now since they just "found" all that oil in the gulf. I'm sure we'll run into problems sometime but the question is will we have other forms of energy by then. I don't care about a hydrogen engine unless it can plow a field, thats when we are getting somewhere.
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Wed Sep 13, 2006 2:22 pm |
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Euler
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Can you accurately determine how much time we have left when it is clearly in the financial interests of the oil companies to represent that we will not "run out"?
And they are correct, for the most part. There will always be some sort of extractable petroleum somewhere. The problem is that it gets harder and more expensive to extract and process.
At some point, the expense outstrips the value. At that point, the prices must be artificially inflated to maintain the supply, or else the world goes cold turkey.
So as prices rise asymptotically, there will be a price point where an individual market segment can no longer afford the product. There are many, many market segments that depend upon oil.
There will be a long period where it looks like there is no problem - just that margins are shrinking and going towards... oil.
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Wed Sep 13, 2006 7:30 pm |
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d3th
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Location: colorado
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| apoxy lips |
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oil is the dragon, (ya know fossil feul: a bunch of dead dinosaurs) and the automobile is the beast, (dont wanna be yo beast of burden) and thier smoke rises for ever
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Tue Oct 31, 2006 11:08 pm |
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