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Respected Scientist Says Peak Oil Is A Scam

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posted on Apr, 12 2005 @ 05:43 PM
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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."


Source


An interesting perspective on the whole situation. I'm not well versed in the matter, but would appreciate feedback on the article/clip and it's logic.

Thanks,

X

[edit on 12-4-2005 by Xatnys]




posted on Apr, 12 2005 @ 06:08 PM
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For that one source though, there are many other scientists who agree with peak oil. It isn't a myth. However this scientist is right, there still are billions of barrels out there, the problem and the crux of what peak oil is, is that the amount of extractable oil is running out.

There are millions of barrels of oil that just can't be extracted either because we don't have the means or that the means we have cost too much both in monetary value and in the energy expended to get them. What would be the point of extracting one barrel of oil if it cost 4-5 barrels to extract it?

Another problem is that oil is not the only thing that is found within oil wells, some oil is mixed with minerals and other sediments that make it worthless forthe commercial market because once again to extract it and seperate the oil from its counterparts, it would be to costly in money and energy.

Now we are at a turning point, we can either expend billions of dollars continually upgrading our oil extracting technologies inorder to extract whats left or we can start switching to alternative energies. I think the smart move would be to move forward and start changing to alternatives, they are cheap and clean, and as far as i am aware certain ones like wind and water are here forever, and hydrogen is one of the most abundant elements in the universe. Anyways, that is point, it isn't some left wing conspiracy, this is happening.

[edit on 12-4-2005 by jawapunk]



posted on Apr, 12 2005 @ 06:47 PM
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I think the more panic regarding the oil supply the better. It would really force people use alternative technologies.

Look at the article on CNN (yesterday, I believe) -- people are lining up to get hybrid cars. Soon we'll get renewable fuels, I hope. It has been discused already, but corn and other material can be used to make alcohol fuel. That would be great.



posted on Apr, 12 2005 @ 07:42 PM
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Not only are American's lining up for Hybrids they are also lining up for Micro Coups that get 60 mpg.

ca.us.biz.yahoo.com...



posted on Apr, 12 2005 @ 07:54 PM
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``

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

imho



posted on Apr, 12 2005 @ 07:58 PM
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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

imho


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.



posted on Apr, 13 2005 @ 08:12 AM
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Hello and thanks to all whom have replied,

I wanted to chime in to say that I'm all for alternative energy sources as well. I really hope to see the market flooded with them soon.

But my mind can be rather... conspiratorial in nature, which is why the original article was such a draw for me.

It seems as though the general consensus thus far is that: "Who cares if the oil is there if we can't get at it." Right?

Well that's logical to me, so I did a bit of research regarding this elusive "shale oil”, to see if a new technology for recovering it was on the horizon. Please check out the links below:



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.

Source

Related:
EXXON's Energy Outlook to 2030

So it would seem that the major players in oil are coming up with new tech to gather the much needed resources. I'm sure that will only serve to raise the oil prices, so having less petrol-reliant systems would still be a good move; but they are about to be using tech to retrieve more oil, right?


Also I found an interesting website that relates to this all:

Life After The Oil Crash


Anyway, further thoughts and opinions are greatly appreciated.

X



[edit on 13-4-2005 by Xatnys]



posted on Apr, 13 2005 @ 08:43 AM
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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.


It is somewhat usuable, but not efficiently enough to be called "complete." Some oil companies are trying to find new/better ways to get to this oil, becuase a lot of it exists. I have a thread with an article about the new technology Shell is trying to develop at this link.

As for saying peak oil won't happen... well... it will, and there is really nothing to stop it. Scientists may debate when it will happen, but I seriously doubt any credible scientist would say it's completely a "myth" and be able to keep his credibility for very long. At the current time and level of public knowledge on the subject, any media attention is good, because at least it will draw some more people to start looking into the real issue and drawing their own conclusions. Hopefully, as we progress towards the peak more accurate media attention will start to force us to finding a solution for the immediate and long term.



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