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Have we really hit peak oil?

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posted on Aug, 15 2004 @ 11:20 AM
Okay, there have been a lot of posts in different topics about peak oil but the question has not been raised before about wether we have actually hit or are near peak oil.

The electric energy crisis in California was due to fraud on the part of Enron. It has been proven that their really wasn't an electricity shortage. Is what we are hearing about peak oil a fraud as well. Higher oil prices are helping to fund operations in Iraq. I heard that Iraq is selling somewhere around 1 million barrels of oil per day. Before the Iraq war oil was about $30 or so per barrell now it is about $46. That is an extra 16 million dollars per day.

Exxon has posted record profits. Exxon has been targeted by environmentalists and maybe the whole peak oil issue was created by oil companies to get legislature that permits them to drill in areas currently off limits due to environmental issues and also to increase their profits.

What are your thoughts and opinions about peak oil?

posted on Aug, 15 2004 @ 11:55 AM
[edit on 10/2/2004 by esther]

posted on Aug, 15 2004 @ 11:44 PM
A short and simple answet to your question is...
As the oil supply gets lower and lower you can almost expect the prices to go higher and higher.

And when we run out of oil, they will monopolize the next fuel source as well, whether by government regulation or simply by force.

That is what I STRONGLY feel is going to happen. My bet is on alcohal (spell)
as the next fuel sorce.

I have a question myself on this subject I know someone will be able to answer for me.

Just who does controll the oil feilds in the middle east now? America? OPEC? someplace I dont know about? And if it is infact America shouldnt the price go DOWN instead of up?

posted on Aug, 16 2004 @ 02:55 PM
It was only a matter of time before we started to see this happening.

In fact we have all been too comfortable living the lifestyles we all adopt in the West:

the cars, the house, the electric, the shopping, the clothes.

it comes at a cost and now we have to pay the price.

Some of us have lived too well for too long, now its time for a reality check. I hope the major users of oil (USA, China to name but a few) start to change their attitudes as its all downhill from here.

Thats my opinion anyway

posted on Aug, 16 2004 @ 05:00 PM
My opnion is it needs to be Stop the war in Iraq. The prices will bo down.

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