Is there any truth in this Peak Oil Rebuttal?, page 1

Rebuttal of Hubbert's claims

Its come to my attention that this document strives to debunk the claims of Peak Oil. I admit im having a hard time with the way its written and interpreting it.

Any takers for rebutting the rebuttal?

This topic thread may be of some interest in that there is mention of a Hubbert Model debunking by Michael Lynch.







seekerof

[edit on 11-4-2005 by Seekerof]

Originally posted by subz
Rebuttal of Hubbert's claims

Its come to my attention that this document strives to debunk the claims of Peak Oil. I admit im having a hard time with the way its written and interpreting it.

Any takers for rebutting the rebuttal?

Not sure as I would do a full rebuttal,but a couple of point come to mind.There is a lot of emphisis on increasing production.I think there needs to be a restatement on that.I feel processing would be a better term here.One cannot produce oil.Like any other mineral element in the earth, it is simply there. Like gold,silver aluminum etc.The increase mentioned in the article concerns larger volumns taken out of the ground.This is not production,only extraction.Improvements in the process of locating new fields and extracting greater quantities make it look good,and it certainly improves the prospects of peak production time-lines,but it will still run out.We need to learn to use some other form of fuel if we are to extend the oil supply.Also,several places of potential fields were not mentioned in his statistics.I wonder why.I suspect the picture hubbert paints is a bit fuzzy.At least in some details.

"Peak Oil" is a myth, according to these sources (and I believe them):

WASHINGTON, 29 April 2004 - Officials from Saudi Arabia's oil industry and the international petroleum organizations shocked a gathering of foreign policy experts in Washington yesterday with an announcement that the Kingdom's previous estimate of 261 billion barrels of recoverable petroleum has now more than tripled, to 1.2 trillion barrels.

Additionally, Saudi Arabia's key oil and finance ministers assured the audience - which included US Federal Reserve Chairman Alan Greenspan - that the Kingdom has the capability to quickly double its oil output and sustain such a production surge for as long as 50 years.

"Saudi Arabia now has 1.2 trillion barrels of estimated reserve. This estimate is very conservative. Our analysis gives us reason to be very optimistic. We are continuing to discover new resources, and we are using new technologies to extract even more oil from existing reserves," the minister said.

Naimi said Saudi Arabia is committed to sustaining the average price of $25 per barrel set by the Organization of the Petroleum Exporting Countries. He said prices should never increase to more than $28 or drop under $22.
educate-yourself.org...

So, is it the Saudis driving the price up? Nope, it's Wall Street.

This has some good practical information:
www.mises.org...

Also, anyone interested might want to do a little research on just exactly where oil comes from. Some interesting observations are being made by some highly qualified people that it's a renewable resource & not a fossil fuel at all.
www.oralchelation.com...

also reference:
THE MYSTERIOUS ORIGINS OF OIL
By Siegfried E. Tischler, PhD. - Oil is not formed by the decay of organic matter but is created by hydrogenation processes deep within the Earth.
Nexus Magazine Volume 11, Number 5
September-October 2004 (USA & CA)

(Edited for spelling)

[edit on 24-7-2005 by Lordling]

Originally posted by Lordling
WASHINGTON, 29 April 2004 - Officials from Saudi Arabia's oil industry and the international petroleum organizations shocked a gathering of foreign policy experts in Washington yesterday with an announcement that the Kingdom's previous estimate of 261 billion barrels of recoverable petroleum has now more than tripled, to 1.2 trillion barrels.

Additionally, Saudi Arabia's key oil and finance ministers assured the audience - which included US Federal Reserve Chairman Alan Greenspan - that the Kingdom has the capability to quickly double its oil output and sustain such a production surge for as long as 50 years.

"Saudi Arabia now has 1.2 trillion barrels of estimated reserve. This estimate is very conservative. Our analysis gives us reason to be very optimistic. We are continuing to discover new resources, and we are using new technologies to extract even more oil from existing reserves," the minister said.

Naimi said Saudi Arabia is committed to sustaining the average price of $25 per barrel set by the Organization of the Petroleum Exporting Countries. He said prices should never increase to more than $28 or drop under $22.
educate-yourself.org...

Who to believe ... what kind of effects to the market would it have, if the Saudis were to say that they will reach peak oil in a decade or so? and that the reserves wouldn't be all that large? That statement could be purely political.

I'd rather trust science than politics, in this matter at least. Colin Campbell, who has worked as a geologist for many of the big oil companies on all continents of the world has other thoughts on this matter. Read a interview of him done by the From The Wilderness website:

www.fromthewilderness.com...

Wall Street has gamed the system to keep oil prices high despite increased domestic production.
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Enough World Oil Reserves for the Next Million Years?
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Just HOW much does it cost to produce a litre/gallon of petrol/gasoline ?
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who needs oil, We need Weapons Grade Hydride
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