Oil discoveries dispel "Peak Oil" as myth

[westwall]

Global oil production will not peak until global demand for oil peaks.

"Peak" gasoline may allready have been reached. Exxon and others believe that by 2030 the fuel requirements will drop to 1969 levels.

Peak Gasoline Is Here

Peak Gasoline is here, how will WSDOT respond? Build the City

 

[JiggsCasey]

Wake the hell up already! The largest oil reserve in the world is under Gull Island, Alaska (story). The best authority on the vast Gull Island Oil Reserve is Lindsay Williams who wrote "The Energy Non Crisis" (link).

This is flat incorrect, and has been covered here a few times before. You can set your clock by the monthly appearance of some newcomer who trots out goofy Lindsey Williams' nonsense about Alaska. Do more research than to crow over the extrapolated rhetoric of a pastor who has zero idea what he's even talking about regarding geology and techtonics. Gull Island is an average field that is half depleted. If there was oil up there in any cost-effective abundance, the U.S. would have drilled it decades ago, and not seen its net importing status increase every year since the late 70s.

http://en.wikipedia.org/wiki/Prudhoe_Bay_Oil_Field

All of this Peak Oil hype is nothing more than Big Oil generating another excuse to raise prices to support ongoing record oil profits on a stupid U.S./Global population that will believe anything ...

GL,

Terral

Right. Because it makes perfect sense for America to pour trillions into securing what's left of the global oil trade, and strip mine western Canada for the mere benefit of some rogue conspiracy by Big Oil. The fact that 34 of 51 oil producing nations are in terminal decline, and the IEA and Joint Chiefs have admitted global peak is here? Apparently that means nothing, and they're all in on the "conspiracy."

Speaking of stupid.

 

[mdn2000]

Jiggs, great argument, you told someone he was wrong based on??????

Speaking of stupid Jiggs still has no produced the Peak Oil theory, I know, Jiggs posted it everywhere else at least 500 times so its just be ignored.

Talk about stupid.

hey jiggs, here is another company that is obviously stupid, maybe you can get a job with your analytical skills and advice them how they are wasting their money seeing how even if they do find oil its only enough for one day. How can oil companies be so stupid, must just be people who love destroying the earth over making profits.

BBC News - Falklands oil found by Desire Petroleum

Falklands oil found by Desire Petroleum

A number of exploration companies are seeking oil in the Falklands
Continue reading the main story
Related stories

Well failure knocks Falkland Oil
Oil company claims Falklands find
Falkland Islands: Oil or no oil?
A British exploration company says it has discovered oil off the Falkland Islands in the South Atlantic - the second such find this year.

Desire Petroleum said it would carry out further tests to assess the significance of the discovery.

It said it believed further oil fields would be found in the area.

Oil exploration around the Falklands has angered Argentina, which challenges British sovereignty over the islands it calls the Malvinas.

Desire Petroleum's shares went up by 24% on the news.

Long-running dispute
Chairman of Desire Stephen Phipps called the find in the North Falkland Basin "highly encouraging."

Another British company, Rockhopper, found oil in the same area in May

 

[JiggsCasey]

Jiggs, great argument, you told someone he was wrong based on??????

Speaking of stupid Jiggs still has no produced the Peak Oil theory, I know, Jiggs posted it everywhere else at least 500 times so its just be ignored.

I don't understand your perpetual helplessness. What is it that you're still somehow confused about, genius? You argument is sorta like pretending strong goaltending isn't a key to hockey success because simply I haven't explained how or why. Are you that idiotic?

I've explained peak, and I've linked to numerous explanations of peak. Stop stalling, and actually read them. I know you vow to not watch videos and essays, so at this point, that's your own problem. You can't cover your eyes and keep squawking "prove it! i can't see it!" and not look like a complete ... Moron.

Now, as to your Falklands link, what is your point? How is that a "big" find? Is says nothing about any proven, recoverable totals. In fact, it even says:
"It is not clear if either find will prove commercially viable."

You can keep alluding to a few tiny finds sprinkled here and there, but it does zero for your overall argument of "everything is fine." I've said numerous times that we are still finding oil. The point is, we are not finding it in any significant amount to keep up with existing dying capacity. What about that statement can you not get your big dumb head around?

 

[westwall]

Jiggs, great argument, you told someone he was wrong based on??????

Speaking of stupid Jiggs still has no produced the Peak Oil theory, I know, Jiggs posted it everywhere else at least 500 times so its just be ignored.

I don't understand your perpetual helplessness. What is it that you're still somehow confused about, genius? You argument is sorta like pretending strong goaltending isn't a key to hockey success because simply I haven't explained how or why. Are you that idiotic?

I've explained peak, and I've linked to numerous explanations of peak. Stop stalling, and actually read them. I know you vow to not watch videos and essays, so at this point, that's your own problem. You can't cover your eyes and keep squawking "prove it! i can't see it!" and not look like a complete ... Moron.

Now, as to your Falklands link, what is your point? How is that a "big" find? Is says nothing about any proven, recoverable totals. In fact, it even says:
"It is not clear if either find will prove commercially viable."

You can keep alluding to a few tiny finds sprinkled here and there, but it does zero for your overall argument of "everything is fine." I've said numerous times that we are still finding oil. The point is, we are not finding it in any significant amount to keep up with existing dying capacity. What about that statement can you not get your big dumb head around?

What about the fact that according to oil industry analysts and Exxon (and other oil company analysts) that peak gas has been hit? If the demand for gasoline continues to fall then peak oil (if it even exists) is moot. Isn't it.

 

[JiggsCasey]

What about the fact that according to oil industry analysts and Exxon (and other oil company analysts) that peak gas has been hit? If the demand for gasoline continues to fall then peak oil (if it even exists) is moot. Isn't it.

No, it isn't. Crushed demand is a RAMIFICATION of peak, not a counter argument to it. Your latest weak ploy is sorta like saying that the inability of a drunk to afford booze means he suddenly no longer has to worry about his symptoms of liver disease.

What the F do you think falling demand for gas/oil means for complex societies utterly based on growth?

 

[Old Rocks]

Now Jiggs, you are asking them to hold more than one idea in their minds at a time. Really impossible for a Conservative.

 

[Old Rocks]

Jiggs, great argument, you told someone he was wrong based on??????

Speaking of stupid Jiggs still has no produced the Peak Oil theory, I know, Jiggs posted it everywhere else at least 500 times so its just be ignored.

I don't understand your perpetual helplessness. What is it that you're still somehow confused about, genius? You argument is sorta like pretending strong goaltending isn't a key to hockey success because simply I haven't explained how or why. Are you that idiotic?

I've explained peak, and I've linked to numerous explanations of peak. Stop stalling, and actually read them. I know you vow to not watch videos and essays, so at this point, that's your own problem. You can't cover your eyes and keep squawking "prove it! i can't see it!" and not look like a complete ... Moron.

Now, as to your Falklands link, what is your point? How is that a "big" find? Is says nothing about any proven, recoverable totals. In fact, it even says:
"It is not clear if either find will prove commercially viable."

You can keep alluding to a few tiny finds sprinkled here and there, but it does zero for your overall argument of "everything is fine." I've said numerous times that we are still finding oil. The point is, we are not finding it in any significant amount to keep up with existing dying capacity. What about that statement can you not get your big dumb head around?

What about the fact that according to oil industry analysts and Exxon (and other oil company analysts) that peak gas has been hit? If the demand for gasoline continues to fall then peak oil (if it even exists) is moot. Isn't it.

Auto Sales: U.S. and China Driving in Different Directions - Seeking Alpha

In 2009, China's auto sales surpassed those of the U.S., reaching 13 million units (cars and light trucks). This came as The Great Recession drove U.S. auto sales to a level far below the record of 17.4 million sales in 2005. By 2009 U.S. sales had plummeted to 10.4 million for the year.

Maybe here in the US.

 

[westwall]

What about the fact that according to oil industry analysts and Exxon (and other oil company analysts) that peak gas has been hit? If the demand for gasoline continues to fall then peak oil (if it even exists) is moot. Isn't it.

No, it isn't. Crushed demand is a RAMIFICATION of peak, not a counter argument to it. Your latest weak ploy is sorta like saying that the inability of a drunk to afford booze means he suddenly no longer has to worry about his symptoms of liver disease.

What the F do you think falling demand for gas/oil means for complex societies utterly based on growth?

Wow, have you ever taken a economics class? Fuel useage worldwide has been dropping for a variety of reasons. When a price drops on a commodity that is widely desired and used it drops for one reason. There is too much of it. In no case has a commodity that was needed and desired ever dropped in price due to lack of supply. Get real.

 

[westwall]

I don't understand your perpetual helplessness. What is it that you're still somehow confused about, genius? You argument is sorta like pretending strong goaltending isn't a key to hockey success because simply I haven't explained how or why. Are you that idiotic?

I've explained peak, and I've linked to numerous explanations of peak. Stop stalling, and actually read them. I know you vow to not watch videos and essays, so at this point, that's your own problem. You can't cover your eyes and keep squawking "prove it! i can't see it!" and not look like a complete ... Moron.

Now, as to your Falklands link, what is your point? How is that a "big" find? Is says nothing about any proven, recoverable totals. In fact, it even says:
"It is not clear if either find will prove commercially viable."

You can keep alluding to a few tiny finds sprinkled here and there, but it does zero for your overall argument of "everything is fine." I've said numerous times that we are still finding oil. The point is, we are not finding it in any significant amount to keep up with existing dying capacity. What about that statement can you not get your big dumb head around?

What about the fact that according to oil industry analysts and Exxon (and other oil company analysts) that peak gas has been hit? If the demand for gasoline continues to fall then peak oil (if it even exists) is moot. Isn't it.

Auto Sales: U.S. and China Driving in Different Directions - Seeking Alpha

In 2009, China's auto sales surpassed those of the U.S., reaching 13 million units (cars and light trucks). This came as The Great Recession drove U.S. auto sales to a level far below the record of 17.4 million sales in 2005. By 2009 U.S. sales had plummeted to 10.4 million for the year.

Maybe here in the US.

Yes that is true and we can only have an impact on what we do here is that not so? We have had four years of declining gasoline usage here in the US and all the experts feel it is going to continue. Maybe that's why the Chinese are so happy to come to the GOM and siphon up all that oil that Jiggs is telling us doesn't exist.

 

[JiggsCasey]

Wow, have you ever taken a economics class?

have you?

Fuel useage worldwide has been dropping for a variety of reasons.

No, one main reason. People and businesses increasingly can't afford it, and the world remains in perpetual recession.

When a price drops on a commodity that is widely desired and used it drops for one reason. There is too much of it.

Horse shit. When demand is crushed due to price spike, it creates the illusion of "too much" of it. Regardless, it only dropped for a few short months, correcting the over dramatic short-term spike.

In no case has a commodity that was needed and desired ever dropped in price due to lack of supply. Get real.

Get back to me when you're able to sort out the profound differences between long- and short-term economics.

When you're done, recognize that the price hasn't really dropped over the past 10-15 years, and continues to soar with no end in sight.

You're all over the place in this thread. And for all your blather, you can't refute the fact that global production has flat-lined since 2004, and you can't allude to where the fuel is going to come from to make up for the increasing supply gap, a gap acknowledged by the IEA, Joint Chiefs, U.S. Dept. of Energy, etc. Your entire argument in this sub-forum is based on hope. Certainly not data.

 

[westwall]

Wow, have you ever taken a economics class?

have you?

Fuel useage worldwide has been dropping for a variety of reasons.

No, one main reason. People and businesses increasingly can't afford it, and the world remains in perpetual recession.

When a price drops on a commodity that is widely desired and used it drops for one reason. There is too much of it.

Horse shit. When demand is crushed due to price spike, it creates the illusion of "too much" of it. Regardless, it only dropped for a few short months, correcting the over dramatic short-term spike.

In no case has a commodity that was needed and desired ever dropped in price due to lack of supply. Get real.

Get back to me when you're able to sort out the profound differences between long- and short-term economics.

When you're done, recognize that the price hasn't really dropped over the past 10-15 years, and continues to soar with no end in sight.

You're all over the place in this thread. And for all your blather, you can't refute the fact that global production has flat-lined since 2004, and you can't allude to where the fuel is going to come from to make up for the increasing supply gap, a gap acknowledged by the IEA, Joint Chiefs, U.S. Dept. of Energy, etc. Your entire argument in this sub-forum is based on hope. Certainly not data.

Why, yes I have. You clearly have not. And you havn't addressed the fact that the US government has banned development in the US so it's not exactly a level playing field now is it. Every analyst on the planet says the price of oil is being manipulated by commodities brokers. Actual demand only supports a 30-35 dollar per barrel price, that's a fact. The rest is investor manipulation.

Get back to us when you have something factual and meaningful to say.

 

[RGR]

What the F do you think falling demand for gas/oil means for complex societies utterly based on growth?

Increased efficiency.

 

[JiggsCasey]

Why, yes I have. You clearly have not. And you havn't addressed the fact that the US government has banned development in the US so it's not exactly a level playing field now is it. Every analyst on the planet says the price of oil is being manipulated by commodities brokers. Actual demand only supports a 30-35 dollar per barrel price, that's a fact. The rest is investor manipulation.

I love when you people just trot out "that's a fact" without sourcing your nonsense. Every analyst on the planet? That's excellent.

Once again, that's 34 of 51 oil producing nations past peak, and another 6 at peak. Oops... You can play with numbers and pretend short-term price points and speculation is the root cause.... But this is both a demand and supply problem. A FACT that you have yet to refute.

The Oil Drum | Is Peak Oil Real? A List of Countries Past Peak

Get back to us when you have something factual and meaningful to say.

You mean like every post I provide? Yeah, thought so.

 

[JiggsCasey]

What the F do you think falling demand for gas/oil means for complex societies utterly based on growth?

Increased efficiency.

And when blue collar workers and small businesses can't afford the increased fuel costs and all the other costs that go along with it? Will they be "more efficient" by going out of business?

 

[Old Rocks]

Of course, were we to put major money into developing cheaply manufactured batteries such as the DBM Energy battery, or a zinc-air battery, there would not be that problem. Relitively cheap solar is already available, and improving every day.

But these realistic solutions will be fought tooth and nail by the many of the very people that would benefit most from them.

 

[RGR]

What the F do you think falling demand for gas/oil means for complex societies utterly based on growth?

Increased efficiency.

And when blue collar workers and small businesses can't afford the increased fuel costs and all the other costs that go along with it? Will they be "more efficient" by going out of business?

You asked a question with an obvious, and easy, answer. Now you are assembling a strawman. However, I'll play along. Who says people can't afford more efficiency? Lets demonstrate how efficiency works. In 2008 the price of gasoline hit about $4+/gal in the US. I went out and made a reallocation of capital and sold the pickup and collected a regular family sedan instead. So now, me being twice as efficient as before, I am spending LESS than what I did in 2008. This savings will continue until gasoline doubles in price to $8/gal. Efficiency is wonderful. Why would you pretend, through the use of such a ridiculous strawman, that increases in efficiency require bankruptcy? Find a better strawman.

 

[RGR]

Once again, that's 34 of 51 oil producing nations past peak, and another 6 at peak. Oops...

So what happens when some of those 34 nations decide to peak again? Oops...

 

[CrusaderFrank]

Like Hitler in the bunker, Democrats know their end is near and want to take the US economy down with them

 

[JiggsCasey]

so poor...