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Sure there’s peak oil. So raise the price.
Actually peak oil has no evidence. It is possible oil is made from a natural process in the earths crust.
Another good example of the “Mental Myopia” that is required to be a good government employee!
lol
Not to worry. Neither will destroy the planet. In fact, it would be good for the planet. That’s called “Evolution”. Eat it! It’s good for you.
I suppose the “geoscientist” hasn’t heard of the big finds of oil in the south China sea and the one off Brazil’s atlantic coast.
Thursday, 20 January 2011 21:09
Chinese geologists have detected “super-thick” oil and gas-bearing stratums in the northern part of the South China Sea and identified 38 offshore oil and gas-bearing basins, a senior official said on Saturday.
In addition, 192.7 billion tons of coal resources have been found in Northwest China’s Xinjiang Uygur autonomous region, and four 10,000-ton sandstone-type uranium mines have been located in Xinjiang and Inner Mongolia
http://oilprice.com/Energy/Energy-General/Chinas-Discovery-Boom-Large-Oil-and-Gas-Fields-Detected-Offshore.html
Oct 29, 2010, 20:58 GMT
Rio de Janeiro – Brazil’s state oil agency ANP Friday announced the discovery of a new giant oil reserve off the Atlantic coast.
The deepwater field, called Libra, could contain reserves of between 3.7 billion and 15 billion barrels, the agency said.
Peak oil??
Discovering oil is like discovering new galaxies—the more they look they more they find.
Sorry forgot the Brazil link
http://www.monstersandcritics.com/news/business/news/article_1595178.php/Brazil-Massive-oil-discovery-off-Atlantic-coast
2/3 rds of the world proven reserves are heavy oil / tar sands. There is a company that is deploying tech that allows this heavy crude to be turned into light crude (HTL) without the use of expensive catalysts or natural gas. The only thing that is stopping the deployment through the USA and Canada is govt. red tape.
In 2012, a gas to liquids plant (GTL) goes online in Qatar. Natural gas will be converted to diesel, lubricants, and naphtha. GTL can provide refined fuels for under $60 per bbl equivalent of oil. Companies like Chesapeake Energy are exploring the possibilities of EXPORTING (the USA stopped being an net exporter of energy back before WWII) with via GTL or LNG energy. The gas reserves via shale, coal bed, and newer deep bore wells have expanded dramatically.
Coal to liquids plants are being built in China. US plants have been canceled due to lack of funding and opposition from groups like the Sierra Club. The canceled plant, run by Consol Energy and Synthesis Energy System was to produce over 100 million gallons of 87 octane gas a year from coal.
The energy picture of a technology front is very bright. On the government / regulatory front.. well.. not so much…
It sounds like he is talking about his income – and not the global economy. Unless we follow his religion, he will go broke!
poor boy.
Doomsday. Scary. Of course, we could take the other path. I think they call it “Drilling”. Not sure.
http://www.youtube.com/watch?v=0veqofQ5QCI
nice
I am SO tired of hearing about PEAK OIL, it has been everybodys mantra for decades, do not believe me look it up. through out the past 100 yrs. the subject has been mentioned that we are running out of oil, but alas, we are not! So a geoscientist is a peak oil EXPERT, how long has it been since he has been out in the field as compared to sitting in a GOV. office chair to classify him as a peak oil expert.
peak oil peak schmoil.
peak credit is already destroying us.
I see a pattern! just lie about everything that suits your cause and when the time comes to admit that your wrong just lie some more!
A necessary qualification to become an environmentalist or climatologist!
“David Hughes, who spent 32 years working for the federal government as a geoscientist…”
If he had ever worked for a private company he might have discovered this thing called profit. He might have noticed when the price of something goes up, things which were unprofitable suddenly become profitable. He might have noticed that all those shale oil, shale gas, coal seam gas, CTL and GTL ideas which were uneconomic at $9/barrel are now juicily profitably at $92/barrel. He might have noticed just how vast, gigantic and inexhaustible in hundreds of years such resources are, if only they could be made profitable.
But federal governments don’t sell stuff do they, they just tax it.
I’ve been hearing the words “peak oil” since the early 1970’s oil embargo. It was really touching seeing the sad little kids in the public service messages asking everyone to please conserve so they’d have gasoline when they grow up.
I imagine they drive an SUV now.
Funny how they want us to use less oil so there’s more for the future but they don’t want us to use oil in the future.
Oooh! Where is that damn insightful button!