End of cheap oil ?

  • Thread starter Thread starter Deleted member 61728
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Deleted member 61728

Deleted member 61728

It's a very interesting discussion. The chances are heavily in favour of most of the OPEC countries vastly (knowingly) overestimating their reserves. Makes the timing of peak oil very hard to estimate (if it hasn't already, as many think).

The social and economic consequences are potentially devastating, if not properly readied for (which they certainly aren't).
 
'However an authoriative new study from the Government-funded UK Energy Research Council called this prediction "at best optimistic and at worst implausible"'

thats quite far apart no?
 
I do think we should work towards energy security slowly, but it will happen before the price of oil gets out of control. And if it does we could just reduce the 300% tax.
 
monkentage said:
Socialist/environmentalist scam.
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You'd seriously believe oil companies, who just want your money, over people who care?
You reckon oil is an unlimited resource?

Whether you believe in global warming or not, we know oil is finite. We should be working toward new energy production methods, because we'll be right up **** creek when it does run out, likely to be in the next few decades if we keep going the way we're going.
 
Bring on alternative energy sources, coal and the like, the sooner we change the climate the better. Wait, I’m not supposed to say that......... ;)
 
The most recent estimation from the International Energy Agency, that advises Governments around the world, said conventional oil would not peak until after 2030.

However an authoriative new study from the Government-funded UK Energy Research Council called this prediction "at best optimistic and at worst implausible".
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Why would an intergovernmental research organisation tell us one thing, and a government funded research organisation tell us another...

Also, a truly independent research organisation surely wouldn't begin their investigations with a bias toward one of the outcomes as "at best optimistic and at worst implausible". It's just not science. ;)
 
I get around said:
You'd seriously believe oil companies, who just want your money, over people who care?
You reckon oil is an unlimited resource?

Whether you believe in global warming or not, we know oil is finite. We should be working toward new energy production methods, because we'll be right up **** creek when it does run out, likely to be in the next few decades if we keep going the way we're going.
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I agree in part, we should be working towards different methods to replace fossil fuels, but that should be purely research atm, it shouldn't take the place of pointless and money grabbing 'green taxes' when there simply aren't viable alternatives in place currently.

And to expand your final point, we will (or may) reach 'Peak Oil' in the next 'few decades' (say 20-30 years, and quite possibly sooner than later), but that isn't the same as running out, not by a long shot.

When we reach peak oil, production will reduce and the price of oil will go up (actually via fundemantals rather than speculation), this will happen over decades, during which time non-fossil fuel research/technologies will become cost effective and take over. This is how it should be done, not by a government taxing the hell out of something to force people onto an alternative, that isn't a viable alternative...
 
SKILL said:
When we reach peak oil, production will reduce and the price of oil will go up (actually via fundemantals rather than speculation), this will happen over decades, during which time non-fossil fuel research/technologies will become cost effective and take over. This is how it should be done, not by a government taxing the hell out of something to force people onto an alternative, that isn't a viable alternative...
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In an ideal world. The oil price hike is likely to create a recession larger than the current one, possibly irrecoverable too.

We really will have to change a large proportion of our lives, as virtually everything we currently do depends on cheap oil in one way or another.
 
What's to argue about other than the when. Unless oil is being created at the same rate or faster than we are using it then as a finite resource it must one day run out.

No one is suggesting oil won't run out, the doomsayers like to predict it nice and soon and the industry invests ever more heavily to get at the hard to extract resources.

In practice I don't think we'll realise peak oil has taken place until after the event.
 
PlacidCasual said:
What's to argue about other than the when. Unless oil is being created at the same rate or faster than we are using it then as a finite resource it must one day run out.

No one is suggesting oil won't run out, the doomsayers like to predict it nice and soon and the industry invests ever more heavily to get at the hard to extract resources.

In practice I don't think we'll realise peak oil has taken place until after the event.
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but the thing is the peak isn't going to cause mayhem because we don;t pump oil at the maximum rate we can anyway, and just because it's peaked doesn't mean it's going to run out suddenly it will be gradual with replacement tech taking up the slack as time goes on.
 
Tefal said:
but the thing is the peak isn't going to cause mayhem because we don;t pump oil at the maximum rate we can anyway, and just because it's peaked doesn't mean it's going to run out suddenly it will be gradual with replacement tech taking up the slack as time goes on.
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Where do you get your info from? It's only the last year or 2 that production hasn't been at maximum, and that's due to the recession. Just about every large OPEC reservoir was pumping at max till then.

The main problem is that demand is rising rapidly still (recession not included) and after peak oil, supply will only decrease. There will e a big shortfall, causing panic, recession etc. And currently there is no other technology even close to being able to tack "the slack" from fossil fuels.
 
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