What happens at Peak Oil?

[Exarch]

politically and socially?
when the moment arrives in which 'the maximum rate of global petroleum production is reached, after which the rate of production enters its terminal decline...'

war over oil?
amish lifestyles?
free love and peace on earth?

Discuss

[Sphere]

Watch the news tonight.

[Exarch]

Watch the news tonight.

earthquake in china and typhoon in myanmar?

[Sphere]

Rising oil prices with no increase in supply. I don't know have many people realize this but US oil demand is actually down ~3% from last year.

[Exarch]

possibly due to high prices, so the decrease could only be temporary until the oil supply is cranked up and oil prices come down.
funny thing about prices is that they always go up and rarely come down.

[Sidmen]

Odds are that the world will never hit peak oil. With the newfound hate of Oil by almost everyone, alternative fuels are being looked at more and more - and oil will begin to be replaced by other - now cheaper - fuels.

With oil being replaced as the primary fuel, demand will fall and it will be put right next to coal as a fuel source that was used as a primary and then used as a secondary. (along with hydro power)

[Freddie]

Odds are that the world will never hit peak oil. With the newfound hate of Oil by almost everyone, alternative fuels are being looked at more and more - and oil will begin to be replaced by other - now cheaper - fuels.

With oil being replaced as the primary fuel, demand will fall and it will be put right next to coal as a fuel source that was used as a primary and then used as a secondary. (along with hydro power)

Personally I think for the short and medium term the price of oil is going to continue to rise, the weak dollar, demand from the east and investors looking to invest in fixed assets (oil & gold) will all drive the price one way. I wouldn’t be surprised if in a years time oil reached $200 a barrel.

[Erik]

Odds are that the world will never hit peak oil. With the newfound hate of Oil by almost everyone, alternative fuels are being looked at more and more - and oil will begin to be replaced by other - now cheaper - fuels.

With oil being replaced as the primary fuel, demand will fall and it will be put right next to coal as a fuel source that was used as a primary and then used as a secondary. (along with hydro power)

You are absolutely clueless about what "peak oil" means, are you?

hint: you just described it yourself: "peak oil" = slowly shifting to alternative energy sources due to rising cost of extracting oil.

concerning peak oil

if oil prices rise
oilwells that have been to expensive to explore/use
can be used/explored because of the higher prices
which leads to higher supply

Rising oil prices also mean alternatives such as natural gas and bio-fuels that were previously too expensive compared to oil, will now become economically feasible.

Peak oil is really about a shift on the oil demand, not supply.

[Adrian Laguna]

Erik, you are wrong, peak oil does refer to lack of supply. It is basically the point where production stops increasing, there may be a plateau afterward, or a slow drop, or a sharp drop, but oil production will not reach the point where it was at before. Because petroleum is finite, there is always a point where you simply can't extract any more at a given rate, and production declines.

The United States already had its own peak oil, it was in 1971, production has declined ever since. Though there have been a few spikes, temporary increases, it will never again reach the previous level, and will in fact continue to decline until we are at a trickle. More aggressive extraction would offset this, but it would merely postpone the inevitable. Mexico also had its own peak a while back, as did the Northern Sea.

What we are facing is Global Peak Oil. It doesn't seem to have happened yet, though the peak for the best kind of petroleum, light and sweet, might have been in 2005. We will still have oil, of course, but since demand will not go down its price is going to be so ludicrously high so as to be unfordable, pricing all but the richest countries out of the market, and even the top dogs will experience economic difficulties. Unfortunately the world is so dependent upon the pre-historic sludge that market corrections won't happen fast enough to prevent bad stuff from happening. The time to act was in the 70s, and only France seized the ball (80% of their power is supplied by nuclear plants*, they have already electrified their rail net, and their public transport system is one of the best in the world).

*We've got thousands and thousands of years to figure out fusion before Peak Uranium even remotely becomes a problem.

[Sphere]

the time to act was in the 70s, and only France seized the ball (80% of their power is supplied by nuclear plants*, they have already electrified their rail net, and their public transport system is one of the best in the world).

Oil is entirely separate from electrical power. 100% of French cars are still running on petro.

[Adrian Laguna]

Oil is entirely separate from electrical power. 100% of French cars are still running on petro.

What do you think happens when petroleum is so expensive nobody can buy gas? All those cars come to a dead stop, and everything dependent upon cars withers and dies. Except the French have an extensive electrified rail network, which they can use that as a viable substitute to cars. Furthermore, the French can use the electricity from their nuclear power plants in producing* hydrogen for fuel cell cars, or simply straight-up electricity for electric cars.

*Hydrogen is not a power source. It's a storage medium, like a battery. You need to use energy to make it.

[Exarch]

some governments believe oil to be worth more than human blood...

[Sidmen]

Its not the oil that is worth so much, its the continued growth and prosperity of their people. If it could be done without the oil, it would be. Right now, there is a need for oil to flow into the civilized world, until we figure out the next best option.

[Erwin Rommel]

hmmmm I wonder........................................



god i love youtube!

[Sphere]

The point of my first comment is that many people have calculated that peak oil has already been reached or will be in the next few years. Most of the graphs you posted reflect this.

[Sidmen]

Personally I think for the short and medium term the price of oil is going to continue to rise, the weak dollar, demand from the east and investors looking to invest in fixed assets (oil & gold) will all drive the price one way. I wouldn’t be surprised if in a years time oil reached $200 a barrel.

Demand is actually lower this year than last year, the far east (china and india mainly) are in no position to keep up with the increasing prices (their demands have leveled out for the most part) and most vehicles now use less fuel. The dollar has also leveled out and may begin a rise by next year. It is my opinion that the price of oil will follow these trends and either level out - or actually begin to drop.

[Luger]

Maybe a bit off topic, but what are the gasoline prices in your country?
In the Netherlands they are heading to 2 Euro a liter expectend at the end of this year.
2 Euro = 3.15 US Dollar
1 liter = 0,264172052 gallons

3.15 US Dollar for 0,264172052 gallon

(please correct me if I am wrong)

[Каие]

politically and socially?
when the moment arrives in which 'the maximum rate of global petroleum production is reached, after which the rate of production enters its terminal decline...'

war over oil?
amish lifestyles?
free love and peace on earth?

[Chlodwig I.]

concerning peak oil

if oil prices rise
oilwells that have been to expensive to explore/use
can be used/explored because of the higher prices
which leads to higher supply

[Rush Limbaugh]

I thought it already passed?