"The Age of Oil — 100-plus years of astonishing economic growth made possible by cheap, abundant oil — could be ending without our really being aware of it. Oil is a finite commodity. At some point even the vast reservoirs of Saudi Arabia will run dry. But before that happens ...
“The Age of Oil — 100-plus years of astonishing economic growth made possible by cheap, abundant oil — could be ending without our really being aware of it. Oil is a finite commodity. At some point even the vast reservoirs of Saudi Arabia will run dry. But before that happens there will come a day when oil production ‘peaks,’ when demand overtakes supply (and never looks back), resulting in large and possibly catastrophic price increases that could make today’s -a-barrel oil look like chump change…
Just a minor point, the video shows a rocket/space shuttle taking off and those don’t burn petroleum at all, the burn hydrazine among other things
@moniequa So much food? Do you realize that grocery stores only carry enough food in stock to last for less than a week? A complete collapse and starvation could come very quickly.
Every rational person should stock up on guns and ammo.
@moniequa: Ahhhh, now she gets it! When I finally click to showing how ridiculous your use of “price” is, you get it.
Good luck in the coming decade, you’re going to need it.
@EclipseNowBlog Good bye!
@moniequa: OH, I GET that supply + demand = price, but you’re working backwards. Without investigating the science of the supply side, you take one glance at TODAY’s PRICE and assume SUPPLY WILL ALWAYS BE THERE!
And that’s not any economic law I’ve ever read of! Please, dig out Adam Smith’s life works and show me the page that reads,
“If today’s price is fine, tomorrow’s supply will always shine!” What crap. What illogical mumbo jumbo. You should write for Dr Seuss. Green eggs and SPAM!
@EclipseNowBlog, if you don’t even know the most basic law economic, then no one can help you. I’m not going to waste my time on you anymore, you’re incorrigibly stupid and you know nothing, in fact it is insulting to me to even insult you.
But if you want to talk price, $80 a barrel is not ‘normal’, it’s triple the price of just a few short years ago. Your moronic assertion that this is to prevent it being ‘cheaper than dirt’ ignores what a titanic shift this is in the most important product in the WORLD economy.
Tell me, who ‘sets’ this price in your world? Who stops it being ‘cheaper than dirt’ and how? Idiot.
D’oh! If only the Australian Senate committee had listened to YOU, all their worries would have just blown away. (Rolls eyes). What’s wrong with you? Husband work on an oil rig or something?
You deny the science AND history of oil production, and would attempt to distract the lurkers reading this thread with shallow, moronic subject shifts. The ONLY subject here is the science!
@EclipseNowBlog You need to get this through tiny little head, price and price alone is the indicator of oil supply. This video was posted in 2006 to manipulate people like you into investing in oil and to inflate its price to almost 200 per barrel and to artificially inflate gas price to almost $5/gallon. Now that they made their and oil price dropped to nothing, we don’t see oil videos anymore. I hate to insult people but you know less than nothing.
@moniequa: Why does the Senate say that?
“Given the uncertainty about much of the information on world oil supplies and the geopolitical instability of some key oil bearing regions, it is possible that there may be a risk that markets will under invest in oil and energy technologies”
If we’re uncertain about our most important asset, don’t you think that’s cause for an international, bipartisan enquiry? PRICE IS NOT THE ANSWER!
@moniequa: From the Australian Senate inquiry into peak oil:
4.64 The committee notes concerns that markets will not respond in time to provide a smooth transition to a post peak oil world without government action…. resulting in economic and social hardship when supply of conventional oil falls below demand.
@EclipseNowBlog, you’re suffering from Alzheimer. I told you a million times that oil could not be $20 that would make it cheaper than dirty, even at 80 it is still cheaper than shit. It is down right stupid to keep saying we’re running of oil when it is cheaper than water. Price is the best indicator of supply, I’m gonna repeat again, if the supply is scarce the price will soar, if the supply is in high demand, therefore the god damn price the god damn indicator.
@moniequa: easy.
1. The world is probably at peak oil now, but the terminal decline has not set in yet.
2. The GFC reduced demand for oil from $130 a barrel down to $80
3. If you’re so confident oil is so abundant, your real problem is why is oil stuck at $80 not $20?
4. But none of this *autistic* focus on PRICE ALONE really matters, because it ignores the GEOLOGY. If you’re too stupid to bother looking into peak oil, then you only have yourself to blame when you can’t fill your hummer.
@EclipseNowBlog, Using your analogy, if the supermarkets’ shelves are empty why is there so much food and it is very cheap. Like I said many times before you can scream oil peak all you want, if oil doesn’t behave like it is peaking, I will not believe. Oh by the way air is peaking also.
@moniequa: It’s like when you’re down to your last loaf of bread, last bottle of milk, and last slice of ham. You DO THE MATH and go shopping for more food.
We’ve drilled all the most productive, potentially viable sites on the planet for free-flowing cheap oil. Discovery of this GOOD oil peaked 40 years ago.
So converting it back to the cupboard analogy, we’ve still got a pretty full larder, but the local supermarket’s are gone. Soon the rationing begins.
@moniequa: (yawns at the pointlessness of pointing out a 5th, or is that 6th time…)
GLOBAL OIL HASN’T PEAKED YET! D’uh!
But according to dozens and dozens of peer reviewed, verifiable, corporate, geological, and governments sources: the MAJORITY OF OIL PRODUCING NATIONS HAVE PEAKED!
They are going down. The few super-giants left are still going up… for a bit.
They do this thing called MATHS and work out how long till GLOBAL peak.
@EclipseNowBlog, Nope there is no oil peak because crude oil is still cheaper than dirt, that means it is abundant.
@moniequa: That’s right, because real estate investment and the science of oil geology are the same thing. No really!
You not only ignore the science of peak oil, you ignore the DEMONSTRABLE HISTORY of peak oil. It HAS already happened in a majority of oil producing nations. FACT! None of your silly name calling and rudeness has disproved this.
We’re just counting the nations off, waiting for the combined effects to bring on GLOBAL peak oil. So rant away about real estate, I don’t care.
@EclipseNowBlog, I don’t hate science, I hate idiots who pretend to be scientists. Some Americans are bankrupt because they are sheep, they got manipulated into buying homes they couldn’t afford, like you with oil, they were told that homes and land were scarce and everybody had to buy one. Now homes are everywhere, like oil its gone now but the minute we have alternative fuel, oil will be everywhere. So put a cork in it already, I don’t believe oil peak.
@moniequa : Diddums. You’ll believe the experts I read when the rationing starts and you can’t fill your ‘precious’ hummer. You have confirmed yourself as a science-hating, irrational, ideologically driven internet troll who can’t bear bad news. Denial is an ugly thing. When the Great Depression starts and you’re there crying “Why, why, why?” as America is bankrupted, remember your mate Eclipse Now tried to warn you and pointed you to the science but you just didn’t want to make time to *read*.
@EclipseNowBlog, its a bunch of lies you’re too stupid to know it. Its fake and you can talk until your balls fall off and I will not believe it.
@moniequa: Answer the questions you internet troll.
@EclipseNowBlog, get a clue already, you dumb sheep.
@moniequa You said: “They don’t know that economically it is impossible to switch to alternative fuel because consumers will automatically choose inexpensive oil over the other shit.”
You’re sounding so ignorant of real world realities that I wonder if you need to go back to school?
Electricity in Electric cars costs HALF the price of oil on a per km travelled basis. Go figure.