One More Lib Talking Point.......Counterpoint

[rushmc 23]

Hmmm, we are not using it all up?

Edited to add the link
http://upi.com/NewsTrack/view.php?StoryID=20061020-044158-9693r

And I did not find it on NewsMax.....damit


NewsTrack - Business
Geologist: Earth has lots and lots of oil
SPOKANE, Wash., Oct. 20 (UPI) -- A University of Washington economic geologist says there is lots of crude oil left for human use.

Eric Cheney said Friday in a news release that changing economics, technological advances and efforts such as recycling and substitution make the world's mineral resources virtually infinite.

For instance, oil deposits unreachable 40 years ago can be tapped using improved technology, and oil once too costly to extract from tar sands, organic matter or coal is now worth manufacturing. Though some resources might be costlier now, they still are needed.

"The most common question I get is, 'When are we going to run out of oil?' The correct response is, 'Never,'" said Cheney. "It might be a heck of a lot more expensive than it is now, but there will always be some oil available at a price, perhaps $10 to $100 a gallon."

Cheney also said that gasoline prices today, adjusted for inflation, are about what they were in the early part of the last century. Current prices seem inordinately high, he said, because crude oil was at an extremely low price, $10 a barrel, eight years ago and now fetches around $58 a barrel.

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Gravitymaster 0]

Oh shit!! His name is Cheney. Now you've stirred up the hornets nest.

[rushmc 23]

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[kallend 2,150]

If a professor wrote it, it must be true.

Now, about that prof. that thinks 9/11 was a government plot...

...

The only sure way to survive a canopy collision is not to have one.

[AdD 1]

Hmm, the classic misunderstanding. The issue is not that we are using up all the oil, in fact it is likely that it will never all be used up. The problem is that the rate of extraction is bound to peak. We currently get about 85 million barrels per day out of the ground, which when you think about it is quite a lot.

"(1) Mathematically, based on the Hubbert Linearization method, the world is now where the Lower 48 and the North Sea peaked and declined (all crude + condensate).

(2) Through July, 2006 (based on EIA Data), the world has produced about 142 million barrels less oil than if we had simply maintained the 12/05 production rate. This is a shortfall of about 675,000 bpd. During this time period, oil prices traded in the highest (nominal) price range in history.

(3) We are virtually certain that all four oil fields currently producing one mbpd or more are in decline (we are certain that three of the four are in decline).

Given the foregoing, what is the probability that the observed production decline is a coincidence, and not the onset of a permanent decline in conventional crude + condensate production?

Jeffrey J. Brown is an independent petroleum geologist in the Dallas, Texas area. His e-mail address is westexas@aol.com
(13 Oct 2006) "

What happens when we reach the peak of annual oil production? Basically, every year after that, less oil will be produced, and it will cost more. Also, the biggest supporter of Peak Oil preparedness and Energy independence in Congress is a conservative, Rep. Bartlett , so I'm not sure why you think this is a liberal issue.

Life is ez
On the dz
Every jumper's dream
3 rigs and an airstream

[Gawain 0]

Quote

Given the foregoing, what is the probability that the observed production decline is a coincidence, and not the onset of a permanent decline in conventional crude + condensate production?

Jeffrey J. Brown is an independent petroleum geologist in the Dallas, Texas area. His e-mail address is westexas@aol.com
(13 Oct 2006) "

What happens when we reach the peak of annual oil production? Basically, every year after that, less oil will be produced, and it will cost more. Also, the biggest supporter of Peak Oil preparedness and Energy independence in Congress is a conservative, Rep. Bartlett , so I'm not sure why you think this is a liberal issue.

Don't forget that production has also dropped due to direct reduction in drilling (by OPEC, et al) and hurricanes, etc. The observations might be examining too narrow a window. (?)

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!