So, when is this Peek Oil going to happen?

[Mega]

I was promised by Zappta George (Now Dead sadly) & Mat Simmons (Now dead sadly) that Mexico's Catteral oil field would be dry as a bone by now....er.....if one of the biggest oil fields is still pumping.....where is PEEK OIL?????

Mike

[Starving Steve]

Re: So, when is this Peek Oil going to happen?

I think peak cheap oil in Mexico's Catteral oil field is gone. Peak cheap oil in Alberta is gone. Peak cheap oil everywhere in the world is gone. Now, to get oil in quantity, rocks have to be fractured, and drilling has to be side-a-ways.

There is heavy oil and tar in most oil fields, but this has to be cooked in order to make it thin and usable. This cooking takes energy, and cooking costs money.

There is oil in the depths of the oceans, but finding and pumping that oil requires an investment in time, energy, human talent, and legal expense.

The analogy in peak oil theory is to a tube of tooth-paste: One can keep squeezing the tube, and tooth-paste can be obtained. But the time and effort to squeeze the tube keeps going-up as the tooth-paste is depleted. At some point, the tube can be fractured so that more tooth-paste can be squeezed-out, but eventually the tube is deemed depleted and thrown-away. At some point, the time and effort to squeeze-out and cut-out more tooth-paste is greater than the value of the tooth-paste that can be obtained from the tube, and the tube is discarded....... We are approaching this terminal or exhaustion point with oil, so the price of oil is going-up as the world bids for what is left to develop and pump-out.

The world will never pump the last drop of oil on this planet, much the same as a curve on a graph approaches its mathematical limit in calculus. The curve never reaches its limit, but it comes close enough "for guess work".

Hopefully, mankind might soon be able to synthetically produce large quantities of light and cheap oil from coal, algae, and waste vegetable matter. This technological innovation would increase the supply of cheap oil for mankind and be analogous to injecting more new tooth-paste into an old and rolled-up tooth-paste tube. With the innovation of synthetic oil, the limit to peak cheap oil would be pushed forward into the future, perhaps for centuries.

[DRumsfeld2000]

Re: So, when is this Peek Oil going to happen?

Interesting video:

http://sufiy.blogspot.com/2011/04/ab...tnrv-czxv.html

[touchring]

Re: So, when is this Peek Oil going to happen?

I was promised by Zappta George (Now Dead sadly) & Mat Simmons (Now dead sadly) that Mexico's Catteral oil field would be dry as a bone by now....er.....if one of the biggest oil fields is still pumping.....where is PEEK OIL?????

Mike

It is coming faster than you can imagine, within years.

China is adding 18 million cars a year (and growing every month). 18 million cars consume almost 1 milllion barrel of crude oil a year. Within 7-8 years, China will need additional oil equivalent to the entire output of Saudi Arabia.

http://www.itulip.com/forums/showthr...ght=china+cars