smiles 0 #1 November 15, 2005 Is the term "peak oil" an ominous one when used in the energy context? Does it mean that we are consuming more than we are discovering? Or has oil discoveries already peaked (has been doing that for around 20 years?) So, if you aren't storing any oil then, production equals consumption? Does "peak oil" mean: production/consumption reaches it's maximum point and then begins to decrease forever more, or the exact moment when world oil production maxes out and begins its inexorable decline? The biggest fields in Saudi Arabia were discovered 50 years ago? The pools in reserve either don't exist or have far less oil than the optimistic Saudis tell us? http://www.grist.org/news/maindish/2005/11/03/simmons/ QuoteMatthew Simmons author of the recently published Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, has been boggling the minds of people across the political spectrum with his recent prediction that the price of a barrel of oil could hit the high triple digits within a few years. SMileseustress. : a positive form of stress having a beneficial effect on health, motivation, performance, and emotional well-being. Quote Share this post Link to post Share on other sites
RMURRAY 1 #2 November 16, 2005 it means that the worldwide production of oil has stopped increasing, it has leveled off and in the future will begin to decline. This even though the demand is increasing. I suppose it is since the cheap easy-to-get oil reserves are running out and being replaced by reserves requiring extra work and expense. ie Alberta oil sands. There has been much debate when this will happen - some are more optimistic than others... Quote Share this post Link to post Share on other sites
billvon 3,120 #3 November 16, 2005 >Does it mean that we are consuming more than we are discovering? Well, quite literally, we can't consume more than we are pumping in the long term, and we have very little 'storage' so we can't really do that in the short term, either. >Does "peak oil" mean: production/consumption reaches it's >maximum point and then begins to decrease forever more Basically, yes. When peak oil is reached, we can't drill new wells fast enough to make up for the decline in output of older wells. We will never completely run out of oil, but we will reach a point where it's not economical to drill for it anymore. This will happen well _after_ peak oil is reached. Estimates for the peak (also called the Hubbert Peak) range from 2006 to 2030, based on whose assumptions you believe. Quote Share this post Link to post Share on other sites
AdD 1 #4 November 16, 2005 QuoteMatthew Simmons author of the recently published Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, has been boggling the minds of people across the political spectrum with his recent prediction that the price of a barrel of oil could hit the high triple digits within a few years. Check out www.energybulletin.net , it has many interesting links and archives about this. Peak Oil means the end of commerical skydiving as far as I see it. Hope we have some more time, but I'm expecting it in 5-10 years.Life is ez On the dz Every jumper's dream 3 rigs and an airstream Quote Share this post Link to post Share on other sites
billvon 3,120 #5 November 16, 2005 >Peak Oil means the end of commerical skydiving as far as I see it. http://www.ars.usda.gov/is/AR/archive/jul01/jet0701.htm http://www.deltahawkengines.com/ http://www.diamond-air.at/en/products/DA40/ http://en.wikipedia.org/wiki/TU-154(check out the TU-156) Quote Share this post Link to post Share on other sites
