What do you know about the peak oil crisis?
373683
Civilization as we know it is coming to an end soon. This is not the wacky proclamation of a doomsday cult, apocalypse bible prophecy sect, or conspiracy theory society. Rather, it is the scientific conclusion of the best paid, most widely-respected geologists, physicists, and investment bankers in the world. These are rational, professional, conservative individuals who are absolutely terrified by a phenomenon known as global "Peak Oil."\n\n"Are We 'Running Out'? I Thought There Was 40 Years of the Stuff Left"\n\nOil will not just "run out" because all oil production follows a bell curve. This is true whether we're talking about an individual field, a country, or on the planet as a whole.  \n\nOil is increasingly plentiful on the upslope of the bell curve, increasingly scarce and expensive on the down slope. The peak of the curve coincides with the point at which the endowment of oil has been 50 percent depleted. Once the peak is passed, oil production begins to go down while cost begins to go up.\n\nIn practical and considerably oversimplified terms, this means that if 2000 was the year of global Peak Oil, worldwide oil production in the year 2020 will be the same as it was in 1980. However, the world’s population in 2020 will be both much larger (approximately twice) and much more industrialized (oil-dependent) than it was in 1980. Consequently, worldwide demand for oil will outpace worldwide production of oil by a significant margin. As a result, the price will skyrocket, oil-dependant economies will crumble, and resource wars will explode.\n\nThe issue is not one of "running out" so much as it is not having enough to keep our economy running. In this regard, the ramifications of Peak Oil for our civilization are similar to the ramifications of dehydration for the human body. The human body is 70 percent water. The body of a 200 pound man thus holds 140 pounds of water. Because water is so crucial to everything the human body does, the man doesn't need to lose all 140 pounds of water weight before collapsing due to dehydration. A loss of as little as 10-15 pounds of water may be enough to kill him.\n\nIn a similar sense, an oil-based economy such as ours doesn't need to deplete its entire reserve of oil before it begins to collapse. A shortfall between demand and supply as little as 10-15 percent is enough to wholly shatter an oil-dependent economy and reduce its citizenry to poverty.\n\nThe effects of even a small drop in production can be devastating. For instance, during the 1970s oil shocks, shortfalls in production as small as 5% caused the price of oil to nearly quadruple. The same thing happened in California a few years ago with natural gas: a production drop of less than 5% caused prices to skyrocket by 400%.\n\nFortunately, those price shocks were only temporary.\n\nThe coming oil shocks won't be so short-lived. They represent the onset of a new, permanent condition. Once the decline gets under way, production will drop (conservatively) by 3% per year, every year.
289753
There is indeed enormous amounts of oil and natrual gas in this region.  China is looking to move into to partner with Nigeria to extract some of it.  However, China like the multinational corporations that already work in the area is find the extraction very difficult.  \n  The local people are suffering all the effects (environmental degradation and health problems) without any of the rewards like people in other oil regions have.  The results are uprisings that have all but stopped the oil extraction down the delta to the sea.  \n\n   Also, gas lines continue to be attacked, and Nigeria may suffer complete blackouts as these gas lines are used to provide energy to the hydro generating stations in the country.  It would seem to get the locals onside, it might be a good idea to share the wealth and not poison their environment.  It's a novel concept but might just work!\n\n   By the way, as  Peaknik, I don't believe that Nigeria has the necessary reserves to turn the tide of Hubbert's Peak.
778742
Click below for much more.\n\n\n\n\n\nhttp://en.wikipedia.org/wiki/Petroleum
328022
I've spent an entire semester in university listening to and researching over this issue ... and yes the "peak" has passed ... if you look at the bell curve, we're heading towards (or already are) on the decline side of the curve ... and soon it's going to be all over.  \n\nbasically we need to look into alternative source... and that's where this thing gets tricky.  oil is, for the most part, needed for transportation... and cars and transport means that do not require fossil fuels are either not fast enough or they're too expensive.  so what to do now?\n\nwell.... the answer lies in changing the minds of the human race... we live in an economy-driven world... they worry about making money, dont care where it comes from... \n\nbut the good news is that there's an abundant amount of awareness about all the environmental issues out there... i'm in my 20s and i don't remember this type of awareness happening 5 - 10 years ago... so we're headed in the right direction... question is are we alreadfy too late?  the answer is: only time will tell!\n\nand i can go on and on, but due to lack of time i have to end here ... if i have more time before u close this q i might add more in! \n\noh, but before i go... here's a recommendation (a documentary):\nEnd of suburbia dicrected by gregory greene\n\nit talks about the peak-oil crises!\n\ncheers!
480251
Your wage will never reflect the increase, or future increases of the cost of fuel (or any of the other worldly commodities that oil creates).\n\nI have been following the subject of "Peak oil" for about 4 years now and the worlds' dependance on oil. All aspects of our economies (globally speaking) is completely dependant on the stuff and the world is about to learn that, not only can the world not produce it any faster than we presently are, the production rates of global oil producers is about to start its' irreversable permanent decline.\n\nSupply will always go down (aproximately 2-3 percent a year) and demand will continue to go up.  It is predicted that by 2015 that global oil production will decrease 20% and demand will go up 80%.  Think you pay alot for gas now?\nTry $5-$10 a gallon in the NEAR future.\n\nGoogle "peak oil" and spend the next few weeks of your life reading about how we are all pretty screwed.  \n\nLike others have mentioned though, it won't just be gas that goes up.  \n\nEvery piece of plastic produced is made of a by-product of oil.  Every nitrogen based fertalizer that farmers use is a by-product of oil.  In fact you can't find one product for sale in any mall across North America that doesn't owe its' existance, either directly or indirectly, to oil.  \n\nIt is said that if we were to convert the energy that we all benifit from from oil, into human muscle power, we would have approximately 300 slaves working for us night and day, without a break, and having never to feed them.\n\nWell, the slaves are about become unionized and we're all going to have to pay a premium rate for their wages, while our own wages will probably decrease with a recession.\n\nGoogle "peak oil"!!!!\n\nBy the way, hydrogen fuel isn't going to solve this problem.  It doesn't produce fertalizers or plastics.\n\nlisten to this file http://www.globalpublicmedia.com/lectures/156
782204
Try to watch here:http://www.google.it/search?hl=it&q=nstrumentation+as+regards+oil+well+head&btnG=Cerca+con+Google&meta=
1073624
55 gal...no, we're not running out anytime soon. Just be prepared for european style prices until people start carpooling to work and trading in hummers/SUV's.\n\nChina & India are buying crude/crude futures like crazy. Nigeria & Argentina aren't producing to capacity. Katrina damaged a lot of US rigs in the Gulf of Mexico. \n\nWe still produce around half of the crude(which we turn to gas) we use daily. We also have "strategic reserves" of crude which we keep for things like wars but use when supplies get tight.\n\nSo we either reduce our demand, pay higher prices, or start drilling in Alaska and off our coast. I carpool with a coworker in a Miata. S*rew those OPEC countries- conserve!!!!
1056073
It is a real concern, but whenever someone makes a prediction about when a country of the world will reach peak oil output, they do so with what then is considered a researve.  As the cost of a barrel of oil increases, sources for oil that were once not considered a researve then become on because at that cost it is economically viable to recover it.  With the recent spike in oil prices, North America can now clasify the tar sands in Canada and the oil shales in Colorado oil researves, and that being the case, it is estimated that in the US alone, we now have more economically recoverable oil then Saudi Arabia, the worlds largest exporter.  As the price continues to increase, other marginal sources will become economically viable.  Sooner or later, we will reach a point where there simply isn't enough oil available for any price, but that is still a ways off yet.  I believe that before we reach that point, oil will be more expensive then alternate fuel sources.  Through simple economics, I believe that people will begin using these alternate fuels simply because they are less expensive.  I believe that the high cost of oil will spawn invention and inovation into the energy sector, and I believe that has already begun.  We are working on increasing production of biodiesels and ethenol, and there is increased research into fuel cells and electric autos.  I think the future lies in hydrogen burning technology personally.  We already have engines that burn Hydrogen, but we're still working on the fuel tank dilema.  So, for a long answer, I believe that there is and will be time. I'm looking foward to being put out of buisiness.
360179
http://www.jordanjubilee.com/images/people/photos/xkefiya2.jpg\n\nYou must be in oil business?
171959
It's timely that you ask this question - I am currently reading the book, "The End of Oil," which addresses this very issue.  I've only just begun the book, but it looks like we have another 30 years before the oil supply will start seeing a sharp decrease.  The fall in the oil supply will coincide with an increase in demand for energy, which spells TROUBLE.  Hopefully within 30 years time our brilliant engineers and scientists will have come up with a solution to the volatile and dangerous nature of hydrogen...
193951
Oil officials 10, 20, 30, and 40 years ago said AT THAT TIME that we were going to use up what was known to be total global "proven oil reserves." We keep finding more total oil reserves every few years than was thought to exist worldwide a few years previous - kind of funny logic, isn't it? If we keep finding more oil that exceeded known reserves just a few years back, then what are we so concerned about? Interestingly enough, at the same time we keep finding more proven oil reserves, people keep screaming more and more that we are running out of oil - who is right? History says we can keep finding oil, so maybe there is a regenerative process unknown to the scientific community - they can't possibly know everything about everything. \n\nOnly one thing is certain in SCIENCE: it IS ALWAYS CHANGING. Geologists have been getting better year after year at locating oil reserves, and yet so little is known about oil reserves other than location. What is understood to be fact now will be ridiculed in the future by new theories - which have already happened. They thought we couldn't use most crude oil in the early 20th century because nobody knew about cracking or synthesis of crude products, so they just dumped unusable crude products that were not immediately usable as gasoline or diesel. We have come very far since that time in chemistry alone. \n\nIsn't it interesting that what is vaguely understood by a few scientists is continuously spouted as "truth" by those who know far less. SCIENTIFIC FACT IS CHANGEABLE, meaning it can be tested, and if a different result occurs, then the theory changes, resetting what is known as "fact." Oil may be replenishable, and may not necessarily only come from prehistoric plants and animals as current thought suggests. You raise an interesting argument about oil resources, and only the future will let us know for sure - but there will be a definitive answer. Now, who is ready for the truth?
797611
Big oil will do anything to stifle new energies. Corruption, pay-offs, bribes to Congressmen, etc.\n\nThe need for new energy sources are increasing by the day.
16598
2006 will be a very interesting year as Peak Oil should come into play. There will be a day where oil price will have a super spike day. We are running out of oil. Yes, I know that we have 40-50 years of oil left but we don't have to wait till the last drop to see expensive petrol prices. I don't think next year is a good year to invest in common stocks. Go study Peak Oil and invest into oil related stocks.
586157
Fill your tanks only half full uneless you need to make a long trip.You do not need to stock Bush's & Cheeny's gas on your shelf.This will cost the oil company's $3000,000,000.00 a day and will leave only half the room in the supply tanks To but in new gas.The tankers will be stacked off the coast trying to unload.I remember coffee going to $5.00 a pound in the seventys.People stopped buying and in two weeks the price was down to $1.50 a pound.Lets go Amercians the power is in your purse's and wallets "Let's Roll"
1107645
Quite simply NO that is not true.  There is plenty of oil and gas left.  Enough to last your lifetime and probably most of your kids lifetime.  However, the rate at which countries like China and India and other emerging economies are growing there is going to a strain on current levels of production.  This is why there is a huge amount of activity in the exploration and drilling sector right now, we see this future demand and are working to compensate.  However there are countries like the USA and Britian that consume much more than they produce, and the majority of their fields are depleted or on the down hill slope.  This is why they must forge alliances, you didn't think they fight these wars just in the name of freedom, but that's another question.  This is also why Bush has given the go ahead to drill in Alaska.  We know where almost all the oil and gas is, now it's just a matter of getting it out of the ground.  But we don't want to flood the market, because then everyone will think they can use as much as they want.  Then there is the politics, pipelines,environment,etc.  It's a delicate balance.  Any way, Saudi Arabia is the largest producer of hydrocarbons and still has the largest reserves.  Canada has the second largest reserves, but it is hard to produce because it is mostly tar sands.  Iran is third(friendly with China), Kuwait is fourth, Iraq is fifth(soon to be friendly with USA) others among top ten Nigeria, Venesuala, and others I remember off the top of my head.  In the future alternative fuels will have to be researched and put into common use.  Some of these we see already, such as hybrid cars, fuel cells, corn oil,processed fish fat can burn in diesel engines.  Nuclear fuel will be used for everyday power, solar power is not practical, takes up to much room, wind power is only practical on a small scale, and they need to be where it's windy, and since you lose power when it travels down lines, only windy places can utilize wind turbines.  My personal favorite is hyrogen power.  Although to volitile with current technology, it is abundant, powerful, and emission free.  By product is pure water.  All these will come to be as future governments covet what's left of the natural resources and we think about the environment a little more.  But there will be oil and gas to heat your homes and run your cars for many years to come.  So long as you got the money to fill the tank.
346415
There is no true energy crisis. There never has been an energy crisis . . . except as it has been produced by the Federal government for the purpose of controlling the American people. That's a rather dramatic statement. to make, isn't it? But you see, at one time I too thought there was an energy crisis. After all, that was what I had been told by the news media and by the Federal government. I thought we were running out of crude oil and natural gas. Then I heard, I saw, and I experienced what I am about to write. I soon came to realize that there is no energy crisis. There is no need for America to go cold or for gas to be rationed. We shall verify these statements as we provide the facts for you. You might be surprised to find that we will also show why the price of gas will remain high, and in fact will go higher than it is now.\nhttp://www.reformation.org/energy-non-crisis.html
126597
A very good indicator is the oil futures market. Have a look at Brent crude oil futures for 1 year or six months.\n\nThat should show how people are positioning themselves towards oil shortfalls etc