tag:blogger.com,1999:blog-19508699.post8786719758827030047..comments2024-03-13T18:55:49.391+00:00Comments on Energy Balance: Peak Oil 10-20 years away, according to WEC.Professor Chris Rhodeshttp://www.blogger.com/profile/12060542089215379056noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-19508699.post-71877309254928261962007-10-05T16:40:00.000+01:002007-10-05T16:40:00.000+01:00The latest con and pro arguments:http://money.cnn....The latest con and pro arguments:<BR/>http://money.cnn.com/2007/09/14/news/economy/peak_oil/index.htm?postversion=2007091412<BR/><BR/>But nobody "for" oil says the prices will or should drop to levels that encouraged "irrational exuberance" long before that phrase became a cliche.<BR/>Big Oil just doesn't get it because they still rule the roost. This is a struggle of a lifetime, many lifetimes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19508699.post-1983774033446620962007-10-05T09:21:00.000+01:002007-10-05T09:21:00.000+01:00It is interesting just how many different predicti...It is interesting just how many different predictions there are about when the oil-peak will come, and probably supply is kept-up by means of enhanced recovery methods from the simple curve-model's indications.<BR/><BR/>This is worrying, because once supply does begin to fall (having artificially extracted a greater reserve of oil than simple considerations might indicate), then production of conventional crude will plummet. Then we are in trouble... big time!<BR/><BR/>There are many proposed fixes - pv, hydrogen, laser-fusion etc. - but even if they can be made to work eventually, we will still hit an energy minimum within a decade or so, and perhaps there will be insufficient of that to extract resources or to fabricate them into these saviour-technologies.<BR/><BR/>The world should have started on alternatives seriously in the early 1970's when OPEC hiked-up the price of oil artificially, but all such incipient attempts were scuppered by the re-emergence of cheap oil on the markets. <BR/><BR/>We were fooled, and now we really are in trouble, since the availability of oil depends on geology more than politics, and that is something mere political will, or even war, cannot change!<BR/><BR/>Chris.Professor Chris Rhodeshttps://www.blogger.com/profile/12060542089215379056noreply@blogger.comtag:blogger.com,1999:blog-19508699.post-58279520318453672702007-10-05T00:49:00.000+01:002007-10-05T00:49:00.000+01:00The key phrase "..world light crude production pea...The key phrase "..world light crude production peaked at the end of 2005..", i.e. Peak Oil - in the fullest sense of the term - took place sometime during 2006.<BR/><BR/>The pricing of oil historically will undermine attempts to replace it and its related lifestyles and economic cycles and "business" models. <BR/><BR/>By this I also mean the type of expectations of material rewards in exchange for one's labour and efforts, incl. job satisfaction, the benefits of science and education (rendered virtually synonymous during this era).<BR/><BR/>Where I am now, I see tremendous anxiety over design and use of robotics and computer technology; the selling of computing skills to the highest bidder is currently at a frenzy. This has dire consequences for ongoing projects that cannot be finished.Anonymousnoreply@blogger.com