Peak Oil

Posted Tuesday, October 13, 2009, at 9:41 AM
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  • Many experts believe, that "To sustain their production, western companies have to stay at the technological frontier". It is wrong. For example,they ignore new innovative exploration technology:

    -- Posted by geolog on Tue, Oct 13, 2009, at 1:08 PM
  • Expand available reserves, improve extraction technology, explore new resources --

    The reality is -- at the present rate of fossil fuels consumption, with conservative projected increases-- Man on this earth is consuming a limited resource.

    The faster modern man converts to solar, wind, tidal power, geothermal, nuclear and other forms of renewable energy -- the longer the limited oil and other fossil fuel resources will last.

    Or we continue in the reckless patterns of the past several hundred years -- and our great grand children and their great grandchildren will be in serious trouble.

    But then, let that be their problem, we will be beyond caring and after all -- we only had a great deal to do with creating their problem.

    C'est la vie.

    -- Posted by HerndonHank on Tue, Oct 13, 2009, at 5:55 PM
  • *

    Yep Hank, if we believe the doomsayers, things are gonna change pretty fast and, and not for the better. One statement I read is that though big oil companies have increased their profits dramatically, they have invested little of the increase in exploration. To add to that a new refinery hasn't been built since the 70's even though demand is forecast to go up so we might consider that the oil giants already know there will be no additional capacity needed based on supply.

    geolog - your cited link is interesting, but doesn't it fall under the catagory of increasing reserves by new technology rather than new discovery? Even if the technology proposed performs anywhere near it's claim, this may afford the opportunity to develop alternative energy sources at best.

    -- Posted by Brian Hoag on Tue, Oct 13, 2009, at 7:38 PM
  • I am a Petroleum Engineer that owns an oil company.

    I have written many articles about this and other industry related matters.

    my website is

    Send me a PM and I will send you a stunning paper that I wrote that signals to much higher oil prices in the future.

    Wallis Marsh

    MHS 1985

    OU 1990

    -- Posted by wallismarsh on Wed, Oct 14, 2009, at 10:29 AM
  • Dear wallismarsh,

    Could you please explain where exactly does crude oil comes from?

    -- Posted by Hugh Jassle on Wed, Oct 14, 2009, at 9:56 PM
  • Chunky,

    Despite any evidence to the contrary, there is little probability any crude oil is the remains of American neo-conservatives of the past century.

    -- Posted by HerndonHank on Wed, Oct 21, 2009, at 9:50 PM
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