R
John_Kane wrote:
> I am not so sure about this. While some of the gas prices are probably
> artifical(markets while they may get it right in the long run are often
> irrational in the short term) I think we also have to look at the
> Hubert's Peak predictions that in many cases oil production has peaked
> in major fields (USA, Canada, probably Saudia, North Sea) without truly
> major fields coming on stream plus what appears to be a greatly
> increased demand in such places as China, S.E. Asia and India. I do
> agree though that we do not really know how much oil is in the ground.
As I understand it, Hubbert predicted the US domestic
oil production peak with great accuracy, and predicted
the global peak would be reached right about now.
I also seem to recall that global oil production
has declined every year since 2001, which would tend
to prove Hubbert right again. So oil would be getting
more expensive even if the demand weren't spiking,
which it is. This aint exactly higher math. The days of
cheap oil are behind us. The question is: will the
US be able to continue with the same supersuburban
walmart WPP lifestyle? The answer is of course not,
doofuses.
Robert
> I am not so sure about this. While some of the gas prices are probably
> artifical(markets while they may get it right in the long run are often
> irrational in the short term) I think we also have to look at the
> Hubert's Peak predictions that in many cases oil production has peaked
> in major fields (USA, Canada, probably Saudia, North Sea) without truly
> major fields coming on stream plus what appears to be a greatly
> increased demand in such places as China, S.E. Asia and India. I do
> agree though that we do not really know how much oil is in the ground.
As I understand it, Hubbert predicted the US domestic
oil production peak with great accuracy, and predicted
the global peak would be reached right about now.
I also seem to recall that global oil production
has declined every year since 2001, which would tend
to prove Hubbert right again. So oil would be getting
more expensive even if the demand weren't spiking,
which it is. This aint exactly higher math. The days of
cheap oil are behind us. The question is: will the
US be able to continue with the same supersuburban
walmart WPP lifestyle? The answer is of course not,
doofuses.
Robert