Quote:
Originally Posted by Vman455
Five Misconceptions About Peak Oil
Pay particular attention to Misconception 1: Peak Oil=Running Out of Oil.
"In fact, anyone concerned about peak oil will readily acknowledge that we are going to be producing oil for a very long time, and when we stop there is still going to be a lot of oil left in the ground.
So what then is the definition of peak oil? In its simplest form, peak oil means that just as oil production in the United States peaked in 1970 and began to decline, so shall the rest of the world. Once you get past that basic premise – one in which there is near-universal agreement once people understand that is what you mean when you say 'peak oil' – there are many different opinions of exactly how events will unfold."
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Agreed - I also agree the concept isn't just about Oil but about resources - "Peak Everything". I've read Simmons - he described the Saudi situation very well and from the standpoint of someone with lots of industry knowledge. His predictions that Saudi have hit the Peak looks like
coming true in the relative short term.
Quote:
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A report by Citigroup has warned that Saudi Arabia could run out of oil to export by 2030, raising fears that oil prices may rise significantly in coming years.
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But the situation has moved on and Saudi is possibly less important, so what I actually said was that it isn't going to happen
any time soon, well according to the Guardian and others.
There were a number of different interpretations of the recent IEA report but if the Gaurdian - which has bought into the WWF view of the world more than any other newspaper - says it is unlikely, then it probably is.
Still not an excuse for wasting the stuff though.