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Peak oil is a scam to create artificial scarcity and drive prices up. Meanwhile, alternative fuel technologies which have been around for decades are intentionally suppressed.
The peak oil myth is peddled by the establishment-run fake left activist groups and the IMF.
In a report the International Monetary Fund projected that global demand for oil by 2030 would reach 139 million barrels a day, a 65 percent increase.
"We should expect to live with high and volatile oil prices," said Raghuram Rajan, the IMF's chief economist. "In short, it's going to be a rocky road going forward."
Originally posted by St Udio
if memory serves me,
the USA has greater reserves of oil than is in Arabia presently
the only catch is...the oil is locked up in Shale Deposits
which will require mucho dollero to create a processing & supply
system. The liquid petroleum infrastracture now in use canNOT
be converted or retrofitted...ergo the PeakOil fiction imposed on
the world markets, designed to raise the needed profits->venture capital
A stretch of private land 200 miles west of Denver, between the towns of Rangely, Rifle and Meeker, is home to an ambitious research project that - if successful - could reduce the United States' dependence on foreign oil.
Energy giant Shell, which owns the property, is using it for an experimental technology to extract oil from shale formations. Although the project, called Mahogany, was rejuvenated four years ago, the company says it will be 2010 before it makes a commercial decision.
Shell is not alone. A host of energy companies are revisiting technologies to recover shale oil, plans put on the back burner 30 years ago because of extremely high capital costs. But now they're seen as viable alternatives to buying pricey foreign crude oil.
Originally posted by Esoterica
If oil shale is unusable, then how is Peak Oil a fiction? If you can't get to it, then you might as well not consider it as aprt of the Earth's oil supply. And right now, it likely costs more to extract the oil than it's worth, which means it's a net loss in money and energy, so that doesn't help at all. It would be like using a golden shovel to dig up rocks to sell- you're better off selling the shovel.