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Re: The President admits that PEEK OIL IS HERE!
No, he was spot on... about US DOMESTIC PEAK OIL PRODUCTION, which is what he was talking about.Originally posted by Mega View Post -
Re: The President admits that PEEK OIL IS HERE!
----nm----Last edited by politicalfootballfan; February 02, 2009, 07:44 PM.Comment
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Re: The President admits that PEEK OIL IS HERE!
US production peaked in the 70s (look at the production data)Originally posted by jtabeb View PostIt's Economics vs Thermodynamics. Thermodynamics wins.Comment
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Re: The President admits that PEEK OIL IS HERE!
I've read the book "Century Of War" by Engdahl recently and I was surprised that he switched from a peak oil believer to a non believer just years ago.Originally posted by politicalfootballfan View Post
Also, Max Keiser was on the radio on Friday talking about believing in it.
http://rss.nfowars.net/20090130_Fri_Alex.mp3
CONFESSIONS OF AN "EX" PEAK OIL BELIEVER
by F. William Engdahl
September 25, 2007
The good news is that panic scenarios about the world running out of oil anytime soon are wrong. The bad news is that the price of oil is going to continue to rise. Peak Oil is not our problem. Politics is. Big Oil wants to sustain high oil prices. Dick Cheney and friends are all too willing to assist.
On a personal note, I’ve researched questions of petroleum, since the first oil shocks of the 1970’s. I was intrigued in 2003 with something called Peak Oil theory. It seemed to explain the otherwise inexplicable decision by Washington to risk all in a military move on Iraq.
Peak Oil advocates, led by former BP geologist Colin Campbell, and Texas banker Matt Simmons, argued that the world faced a new crisis, an end to cheap oil, or Absolute Peak Oil, perhaps by 2012, perhaps by 2007. Oil was supposedly on its last drops. They pointed to our soaring gasoline and oil prices, to the declines in output of North Sea and Alaska and other fields as proof they were right.
According to Campbell, the fact that no new North Sea-size fields had been discovered since the North Sea in the late 1960’s was proof. He reportedly managed to convince the International Energy Agency and the Swedish government. That, however, does not prove him correct.
...
http://www.financialsense.com/editor...2007/0925.html
http://www.financialsense.com/editor...dahl/main.htmlComment
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Re: The President admits that PEEK OIL IS HERE!
but there still is domestic oil production?Originally posted by jtabeb View PostComment
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Re: The President admits that PEEK OIL IS HERE!
Can a true capitalist (in a macro sense) even accept the possibility of peak oil (in a global sense), since this would imply an absolute limit on growth potential? Or do some such capitalists accept the possibility of peak oil, but balance that acceptance with a firm belief that other energy resources or technology will obviate the need to accept limits (Buckminster Fuller's "ephemeralization")?
I have little opinion on peak oil one way or the other. The psychology of capitalism and how it alters world views is what is intriguing to me.Comment
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Re: The President admits that PEEK OIL IS HERE!
It only implies an absolute limit on the growth potential for the petroleum industry, and perhaps any end-use where there is severely limited to no ability to substitute for petroleum input [and frankly despite mankinds current widespread dependence on petroleum, I cannot think of many examples of the latter - although jet fuel might qualify, for now].Originally posted by bvaliant View Post
To the degree that capitalists believe that growth is determined by energy availability, there is no aggregate shortage of energy in this world. Just periodic and temporary shortages of the ability to convert it from a form that is abundant [and usually cheap] to another [more usable, and usually more expensive] form that is needed to meet demand.Last edited by GRG55; February 01, 2009, 10:58 AM.Comment
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Re: The President admits that PEEK OIL IS HERE!
----nm----Last edited by politicalfootballfan; February 02, 2009, 07:45 PM.Comment
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Re: The President admits that PEEK OIL IS HERE!
LOL. Let's all move to North Dakota.Originally posted by politicalfootballfan View Post
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