Originally posted by crusader
Intresting article on the myth of peak oil. The myth was propgated by 3 types of people
(1) Oil business intrests: Drive the price of oil high.
(2) The Environmentalists: those who want us to use alternative sources of energy
(3) Foolish intellectuals
Wrong, wrong, wrong...
Please feel free to read the information posted by the "foolish intellectuals" who run the EIA and the DOE, and who in turn publish a daily
petroleum report, which may be found here
And as I see has already been mentioned, "Peak Oil" has little to do with the resident oil content in the ground... and as has already been
mentioned, it's the added cost of extraction and production (Canadian oil sand, Pemex pumping in nitrogen to maintain reservoir pressure) that is
, as well as the increase in demand (China) that is responsible for driving the price of crude through the roof.
When more than 1,000,000 bpd of gasoline fail to reach market (because over 12% of our refining capcacity is offline), when 15% of our doemstic LNG
supply is offline, and when 29% of our oil production is shut-in (all as of Sept. 30), yes, we are facing somewhat of a (short-term) fuel crisis.
When the President asks everyone to carpool, you might be facing an energy crisis.
So, unless you have discovered some unforeseen method skipping the whole drilling, extracting, refining, and shipping process, and have thus gained
the ability to park your Hummer right on top of an oil field and fill 'er up "straight from the soruce," so to speak, then yes
we are facing
a bit of an energy crisis, and most likely will be for most, if not all, of the year...