Eddie Hobbs: "We are now at Peak Oil"

[amblincork]

I'm trying to understand this:

In the context of this:

Ok Eoin the fact that less oil is being used for transport doesnt mean oil production will necessarily fall -as there are alternatives for it and it will continue to be utilised though at a slower rate than before.
Which means that the existing reserves will have a much greater life span.

Opps ! I see you are assuming I mean that the amount extracted each year will remain as high as it is now ! |No probably not - just that extraction and utilisation will be spread over a much longer period - which is good news for plastic industry etc.

[EoinMn]

Opps ! I see you are assuming I mean that the amount extracted each year will remain as high as it is now ! |No probably not - just that extraction and utilisation will be spread over a much longer period - which is good news for plastic industry etc.

Well you said production wouldn't drop. My production I figured you meant extraction, no?

[geruptheyard!]

I work in the oil industry and can assure you there is much oil left, it may never be as cheap as before but in reality there are many many independat oil companies who are now enetering into the market and dragging up as muchhydrocarbon as feasibly left.

New tools are being developed everyday and many many diiferent things are occuring to increase production and development of existing an d new fields.

THere is also countless areas of development which havent been touched yet, greenland, the american east coast, the african basement is only begining to be tapped. Russia, pacific basin.

Dr. Campbel is noted as being a pesimist and maybe rightly so but it is a lot easier for him to print doom and gloom predictions than slightly accurate ones.

As for hobbs, not sure he is the best source to be listening to on this!

[amblincork]

This is good news for the oil industry & the economy, bad news for the environmentalists and I am not sure if it is good news or bad news for me !

[SPN]

I work in the oil industry and can assure you there is much oil left, it may never be as cheap as before but in reality there are many many independat oil companies who are now enetering into the market and dragging up as muchhydrocarbon as feasibly left.

About half the oil that ever was remains in the ground at peak.

New tools are being developed everyday and many many diiferent things are occuring to increase production and development of existing an d new fields.

Whoopeedoo!

But peak discovery occurred in 1964. Every year since then the amount of oil discovered has decreased. Currently we are using six barrels of oil for every new barrel we are discovering.

THere is also countless areas of development which havent been touched yet, greenland, the american east coast, the african basement is only begining to be tapped. Russia, pacific basin.

But none of these contain significant amounts of oil when compared to Ghawar and Cantarell.

Dr. Campbell is noted as being a pesimist and maybe rightly so but it is a lot easier for him to print doom and gloom predictions than slightly accurate ones.

Dr Campbell, an extremely experienced geologist who personally discovered some of the major oilfields in the world, is noted as an OPTIMIST.

As for hobbs, not sure he is the best source to be listening to on this!

Hobbs isn't a "source", he is a medium.

[SPN]

As long as there is a market for it, there is no reason for production to drop.

Works the same as a beer keg so?

As long as someone wants beer out of the keg it will continue to produce beer.

Oh, wait ...............................

Plastic is such an incredibly wonderful and versatile material that it would be hard to replace it.

Correct!

It is curious how Greens can see how developing technology can enhance and make their own preferred technologies more productive but can never see that this will apply to their competitors products as well.

Competitors products?

ROTFLMAO!

For example there are very exciting developments in store for extracting oil from the tar oil deposits in Canada.

Yep.

Put 2kW of energy in to get 1kW of energy out.

Very exciting indeed!

[amblincork]

[.
Yep.

Put 2kW of energy in to get 1kW of energy out.

Very exciting indeed! [/QUOTE]

That is the exciting thing, the energy costs of extraction are going to be much reduced ! Would that not be good news ?

[SPN]

Yep.

Put 2kW of energy in to get 1kW of energy out.

Very exciting indeed!

That is the exciting thing, the energy costs of extraction are going to be much reduced ! Would that not be good news ?

You really are nuts, aren't you?

The energy costs of extraction are going up. The energy costs of processing are going up, and the availability of water is going down.

You obviously live in some alternative reality where magic happens and physics doesn't exist.

[amblincork]

You really are nuts, aren't you?

The energy costs of extraction are going up. The energy costs of processing are going up, and the availability of water is going down.

You obviously live in some alternative reality where magic happens and physics doesn't exist.

You really need to keep up to date with developments in the energy field !

[amblincork]

P.s its 5.30 and as the taxpayer refuses to pay overtime for my services, I shall have to go home now ?

By car of course !