Peak Oil Is Not Coming…

41 Comments on "Peak Oil Is Not Coming…"

Davey on Wed, 4th Jun 2014 7:12 am 



Lobby of plenty reality spin. Got to love Cornucopians and their relentless effort to spin bad new as good. The financial system is awash with the practice it is call BTFD. IOW Ponzi scheme economics. Oil spin is just ignorance

meld on Wed, 4th Jun 2014 7:33 am 



No shit Sherlock.

TIKIMAN on Wed, 4th Jun 2014 8:00 am 



So the Saudis are drilling heavy shiity crude becuase all there good stuff has been used. Canada is ‘mining’ for oil and the US is fracking.

Why don’t these 3 countries just stick a pipe in the ground and watch the huge fountain of oil come out? Funny how a company spends $150,000,000 to drill in 2 miles of water then a mile of ocean floor to get a 100,000 bbl/day well.

Heh.

The days of light sweet crude are over. Time for the price to rise forever!

TIKIMAN on Wed, 4th Jun 2014 8:00 am 



So the Saudis are drilling heavy shiity crude becuase all there good stuff has been used. Canada is ‘mining’ for oil and the US is fracking.

Why don’t these 3 countries just stick a pipe in the ground and watch the huge fountain of oil come out? Funny how a company spends $150,000,000 to drill in 2 miles of water then a mile of ocean floor to get a 100,000 bbl/day well.

Heh.

The days of light sweet crude are over. Time for the price to rise forever!

noobtube on Wed, 4th Jun 2014 8:11 am 



The United States used all its oil building a military machine to murder people all over the face of the planet, and to create as much trash and waste as they possibly could.

To think, all that oil, and coal, and natural gas… and the only thing the United States has to show for it is a crumbling infrastructure, a massive murdering military machine, and a multi-million size population of idiots.

And, what makes it worse, is the United States expects Africa and the Middle East (which Americans have always terrorized) to save them.

I suppose Americans expect to be saved so they can continue terrorizing, murdering, and spreading ignorance worldwide in their desperate attempts to destroy the world for all life.

paulo1 on Wed, 4th Jun 2014 8:54 am 



Noob, or should I say ignorant wad?

I have found people to be pretty much the same the world over. The US does not have any distincion on making war. They were just top dog for many years.

Can this twit spammer be blocked, or should we just ignore him?

just asking….Paulo

peterjames on Wed, 4th Jun 2014 8:59 am 



Interesting the IEA report states that crude oil from current fields (2012), falls from about 68 million barrels a day, to 50 million barrels a day in 2020. Another 20 or so million will be added from fields not yet in use, or not yet discovered. The report seems to try to add a positive spin, on a very bleak scenario. I suspect that if those other 20 million arent found, those relying on imports may be a wee bit worried.

peterjames on Wed, 4th Jun 2014 8:59 am 



Interesting the IEA report states that crude oil from current fields (2012), falls from about 68 million barrels a day, to 50 million barrels a day in 2020. Another 20 or so million will be added from fields not yet in use, or not yet discovered. The report seems to try to add a positive spin, on a very bleak scenario. I suspect that if those other 20 million arent found, those relying on imports may be a wee bit worried.

Makati1 on Wed, 4th Jun 2014 9:03 am 



paulo1, yes there have been other nations that pillaged and plundered, but not on the massive scale and decades long series of pillaging and plunder as the US Empire. The US never stopped plundering from the indian killing days of it’s youth.

The last 70 years have been a series of undeclared wars by the US against anyone they decided was not willing to bow down to Washington. Now they only have nuclear armed countries left to try to dominate. I think they have finally hit their brick wall and will use the nuclear strike as a last ditch desperate attempt to control the world. After all ‘O’ is not rebuilding the US nuclear arsenal to put it in storage.

bobinget on Wed, 4th Jun 2014 9:10 am 



It’s worse than that, peterjames

http://www.bnn.ca/News/2014/5/14/Keystone-delays-are-fueling-push-for-Canada-eastern-oil-pipeline.aspx

Canada is a net IMPORTER of crude oil. Canada pays world prices (BRENT) for that East Coast landed oil.
Alberta forced to sell crude at DISCOUNTED
NYMEX prices. Why? Because the US is the ONLY client.

Because of dithering over a Keystone DECISION Eastern Canadians are finally understanding the situation.

Transiting crude East also lowers Canada’s balance of import/export payments. Just as the US has done in
North Dakota, Texas, Oklahoma, Alaska.

Delays in oil sands infrastructure are two fold..
One, oil company profits are too low for high investor dividends.
Two, Big Oil can easily run prices higher, Long Term,
by temporally stoping ‘drilling’ so hard.
Every major with the exception of Total pumped fewer barrels last year. By spending, BO could have matched.

Mining oil sands only a few years ago was almost overlooked.
NOW.. With neighboring Mexico and Venezuela
in hock to China thereby effectively removing two of America’s major suppliers, Canada’s oil sands gain importance beyond their former niche markets.

As shale deposits run out around the world, the US will be fighting over the Arctic while Canada solves its own problems thanks to dishonest US politics.

bobinget on Wed, 4th Jun 2014 9:42 am 



Cherry Pie Today:

Summary of Weekly Petroleum Data for the Week Ending May 30, 2014
U.S. crude oil refinery inputs averaged about 16.1 million barrels per day during the week ending May 30, 2014, 206,000 barrels per day more than the previous week’s average. Refineries operated at 90.8% of their operable capacity last week.
Gasoline production decreased last week, averaging 9.5 million barrels per day. Distillate fuel production increased last week, averaging over 5.2 million barrels per day.

U.S. crude oil imports averaged over 7.1 million barrels per day last week, down by 686,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged over 7.1 million barrels per day, 7.5% below the same four-week period last year.

Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 844,000 barrels per day. Distillate fuel imports averaged 182,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.4 million barrels from the previous week. At 389.5 million barrels, U.S. crude oil inventories are near the upper limit of the average range for this time of year.

Total motor gasoline inventories increased by 0.2 million barrels last week, and are in the middle of the average range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories increased by 2.0 million barrels last week but are below the lower limit of the average range for this time of year. Propane/propylene inventories rose 3.7 million barrels last week and are in the middle of the average range.

Total commercial petroleum inventories increased by 8.8 million barrels last week.
Total products supplied over the last four-week period averaged over 19.1 million barrels per day, up by 2.7% from the same period last year.

Over the last four weeks, motor gasoline product supplied averaged 9.2 million barrels per day, up by 5.4% from the same period last year. Distillate fuel product supplied averaged 4.1 million barrels per day over the last four weeks, up by 6.9% from the same period last year.
Jet fuel product supplied is down 0.9% compared to the same four-week period last year.

*******************************************************
Note that consumption is up 100,000 B p/d over last week’s 19.1 Million Barrels a day.

If nothing else, this report may be one of our best economic indicators.

meld on Wed, 4th Jun 2014 9:52 am 



when it starts to rise it’s going to rise hard, possibly to $200 then retreat back to about $150 as all the governments say everything is ok, Rinse and repeat for the next 20 years.

Davy, Hermann, MO on Wed, 4th Jun 2014 9:54 am 



Paulo, I wish TPTB on this board could block the Noobster. I am sure he will morph into another kind of Noob with a new name. The Noobster does this board a disservice. We may have quality visitors that will see Noob filth and decide not to contribute. That is just my opinion.

Davy, Hermann, MO on Wed, 4th Jun 2014 9:57 am 



But then again what about free speech and tolerance of opposing ideas? Will a block be nothing more than what those we criticize here do? Tough question.

Davy, Hermann, MO on Wed, 4th Jun 2014 10:02 am 



Meld, $200 will destroy the financial system built upon cheap money and free debt for the banksters. I think that will be the last of the price spikes IMHO. I hope I am wrong.

peterjames on Wed, 4th Jun 2014 10:02 am 



They could just implement a rule that comments must have something in common with the article.

Juan Pueblo on Wed, 4th Jun 2014 10:08 am 



I ignore noob and others by just skipping their comments. It works for me.
Meld, it could play out like that.

Northwest Resident on Wed, 4th Jun 2014 10:18 am 



I’m a web developer by profession. It is EASY to block off-topic lunatics like boobtube. Simple — if you are the one writing and maintaining the code. Just block the noobster’s IP address — when a request from that IP address hits the server, redirect to www dot sickpuppies dot com. It wouldn’t matter if noob used different email addresses. He could move to a different computer/IP address, but that little trick would work only once or twice if a dedicated “web master” was on the job.

I welcome dissent, and even confrontational discussion on this forum. But noob just uses this forum to vent his insanity, anger and vile bitterness. Obviously he blames Americans for all the evils that he has suffered in life, and for the intense mental anguish and horrible pain that he must live with every day. This guy needs “a cure”. He isn’t here to discuss or trade ideas, just to vent and to lash out and to disrupt. He needs to be banned — his posts are like shit stains on pair of white underwear — but that’s just my point of view.

Plantagenet on Wed, 4th Jun 2014 10:44 am 



Noob isn’t unusual–he’s just a typical troll. Trolls seek attention—stop giving it to him.

Northwest Resident on Wed, 4th Jun 2014 10:49 am 



Plant — Hey! We agree on something!!

noobtube on Wed, 4th Jun 2014 11:15 am 



Without an old piece of paper (US Constitution), there is no such thing as an American. Without the government in Washington DC, the concept of an American disappears overnight.

The idea of an American is fragile and absolutely depends on cheap oil to power the war machine that ties Americans together. Without that killing machine, America, as it is currently understood, will be finished.

It brings me great pleasure to see the self-entitled, pompous, arrogant, pretentious, holier-than-thou, me-right-you-wrong, American idiot get upset when the blame is placed squarely on their shoulders.

You never hear anything positive from these types about Africa or the Middle East or Venezuela or Central America or Southeast Asia. It’s always third world this, or uncivilized that, or undeveloped, or brutal, or violent, or oppressive, or overpopulated, or my favorite, corrupt.

How any American can sit on their high-horse and call anyone else corrupt (or brutal or oppressive or violent or uncivilized or over-populated) is mind-blowing.

Do Americans not know what they are?

I guess not, judging by many responses.

In their world, the United States is just misunderstood, and is no worse than anyone else, and is doing its best, and is really trying to do right, and has no bad intentions toward anyone.

Americans are insane.

And, like the violently insane, when their insanity is shown, Americans want to…

commit violence against you… or,
silence you, or,
change the subject, or,
blame others.

Anything but take responsibility… and, maybe, just maybe, actually do something to fix the problems they are causing on a daily basis.

Oh, no, that makes too much sense.

It’s much easier…

to suppress dissent (like the corrupt courts and police),
distract and entertain (idiotic TV and Hollywood),
mass murder (like the US military), or terrorize (like the KKK/Neo-Nazis/skinheads, reactionaries, fundamentalists), or
steal your home and savings (like the Too Big To Fail banks/finance/mortgage companies), or steal your livelihood (like the American multi-nationals).

Monsanto, Haliburton, Disney, Coca-Cola, McDonalds, Lockheed-Martin, Federal Reserve, ExxonMobil, General Dynamics, Wal-Mart and it just goes on.

That’s the American contribution to the Earth.

Let’s not forget the CIA, DHS, ATF, FBI, DEA, FDA, NIH, who are all here to protect the corporate profits.

But, somehow it’s Uganda’s fault that the United States wasted all of its energy abundance on suburbs, shopping malls, sports stadiums, car dealerships, fast food restaurants, and new and improved ways to murder people with the push of a button.

Fishman on Wed, 4th Jun 2014 11:38 am 



“The added expense of energy has a silver lining in that it will convince affluent North Americans to consider lower energy means of living” Its called unemployment

clueless on Wed, 4th Jun 2014 11:45 am 



In your dreams idiots !!! What is this a party for your faction? Bwahahahahaha!!!!
Noob is always right. US gov’t is the greediest gov’t on this planet, and BAD karma is always on it’s side. The nation will fall very soon, and it will be the biggest laughing stock of all.

bobinget on Wed, 4th Jun 2014 11:53 am 



Yeah, me too.

OTOH, news today is kinda crazy.

It’s understandable, this current anti science, pro
superstition movement we are experiencing has taken control.
From extremes; Saudi Arabia or Pakistan where any real or imagined religious slight even privately pronounced can lead to a state mandated death sentence. In so called democracies like India
where only extreme public pressure leads to prosecution for multiple rape and murder. One woman every day is ‘honor killed’ by their families for offenses
like being raped.

In Nigeria where a violent group of pretend Muslims kills innocents for educating their children. As if Western Education were at root of extreme poverty.

In Uganda where sexual minorities are subject to the death penalty.

In US Congress where the Defense Department is forbidden to spend ay portion of 500 Billion, 2015
budget on Climate Change study.

There are thousands of such examples. Is it any wonder
some folks have difficulty dealing?

rockman on Wed, 4th Jun 2014 12:07 pm 



“clueless” – An interesting bit of self-deprecation or truth in advertising? LOL.

Northwest Resident on Wed, 4th Jun 2014 12:22 pm 



Amazing discovery just made! By using the wheel (scroller) on my mouse, with just one or two small movements of my finger I can quickly and easily scroll past any comment noobtube posts without burning my eyes or raising my irritation level. I went back to several articles where the noob left his trail of shit stains, tried the newly discovered technique and it works every time! Try it — you’ll like it.

Yeah rockman — that is amazingly self-ware name for clueless to have chosen for himself, or perhaps just a Freudian slip.

dubya on Wed, 4th Jun 2014 12:33 pm 



To all the Noob-haters out there – although he rubs me the wrong way (ESL?) his points are salient:

The British empire was constrained by energy/technology, I doubt their motives were more pure but they were limited by the peak of their killing technology, the LeeEnfield .303. And every wannabe conqueror prior to that even more so; trying to take over the world with pointy sticks.

The US was an uninteresting bunch of British wiping out the indigenous people (nothing special here, the Sapiens in Neanderthal europe, Mongols in Asia, Koreans in Japan, French in Canada, Spanish in Chile, Portuguese in Brazil, Dutch in Africa…) until the oil age. With machine guns, B2 bombers, and atomic power, the hardest part about some of the killing jobs is the drive to work in the suburbs to blow up some Paki with a predator drone.

Mr B.O.’s complete inability to undo any of the constitutional violations brought in by me certainly gives credence to Lord Acton’s: “Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men.”

Actions do speak loader than words, and the actions of the United States since 1945 stand out in their inherent evil; even taking into consideration the loss of historical detail prior to that.

In a functioning legal system most of the world’s captains of commerce, industry and politics would be charged with crimes against humanity. But it is the United States that has also reached the pinnacle of weapons of mass destruction and so has the ability to truly wreak havoc.

Perhaps if the American public were required to machete their victims there might be as much press about the military’s actions as there was about the Rwandan genocide.

It’s not as if nobody saw it coming:
Military-Industrial Complex Speech, Dwight D. Eisenhower, 1961

http://www.h-net.org/~hst306/documents/indust.html

bob on Wed, 4th Jun 2014 1:18 pm 



I was looking at a magazine about the mountain west and it had a huge 12000 sq ft house about as inefficient as you can build with outside heaters so you can stay warm outside!!! In the winter!!! There is so much talk about Jevons paradox how about the Fermi paradox…somewhere on a galaxy far far away…..the same song is playing just a different verse….

Perk Earl on Wed, 4th Jun 2014 3:32 pm 



“Funny how a company spends $150,000,000 to drill in 2 miles of water then a mile of ocean floor to get a 100,000 bbl/day well.”

Tikiman, I got curious about the math after reading your post, and as it turns out a 100k barrels a day at 100 dollars makes 10 million a day x 15 days = cost of drilling. Not sure what all the other expenses are or how many days they got that many barrels a day, but on the surface it looks like a good investment (which I’m sure Rockman would back up). That is as long as the world economy supports 100 dollar a barrel oil.

Norm on Wed, 4th Jun 2014 5:09 pm 



Excellent. No more peak oil. Excuse me while I go sign papers on that new Lamborghini.

Beery on Wed, 4th Jun 2014 6:55 pm 



“To all the Noob-haters out there – although he rubs me the wrong way (ESL?) his points are salient”

Yeah, but he’s a prick precisely because he seems to think that the US is the ONLY nation on the face of the Earth that has done really bad things. If we knew where Noob was from, maybe we could clue him in on his own nation’s evildoing, but we don’t.

I’m by no means a fan of US foreign policy, but if one’s going to criticize, at least do it fairly.

Davy, Hermann, MO on Wed, 4th Jun 2014 7:02 pm 



I second your points Beer including Noob is a prick but I would add “little” to the prick because he doesn’t have much in his cowardly shorts.

GregT on Wed, 4th Jun 2014 7:15 pm 



Norm,

If you can afford to buy that new Lamborghini, peak oil shouldn’t be much of a concern for you. At least for a while longer than most. You might want spend a little extra and get it bullet proofed though.

“The added expense of energy has a silver lining in that it will convince affluent North Americans to consider lower energy means of living. This could reduce pollution causing lung disease and climate change.”

Another individual that really doesn’t get it. Not all North Americans are ‘affluent’. Most are living pay check to pay check and many are living below poverty already. These are the people that will be affected the most. Not the affluent people like Norm, with his brand new bullet proof Lamborghini.

Davy, Hermann, MO on Wed, 4th Jun 2014 7:25 pm 



Norm, cars don’t impress me. I must admit hot chicks in cars is seductive but cars themselves are a turnoff.

Name on Thu, 5th Jun 2014 1:08 am 



Well, I for one agree with Noobster, since US has been the top dog since ’45 it is responsible for most evils. That of course does not mean that there are no open-minded, nice people in America. People are just people everywhere, what we call America, UK or whatever are just governments, and they will eventually go wherever artificial constructs go when they are no longer maintained with energy inputs.

Davy, Hermann, MO on Thu, 5th Jun 2014 1:44 am 



Name, the US is responsible for significant evils but not most. Russia and China are far ahead of the US in pure and straight forward evil of killing their own people in evil ideological driven political and economic policies then exporting these evil ideologies to the third world for further hatching of evil offspring in 60 years of third world turmoil. Europe is the reason we have this post WWII situation so I would say they are the primary culprit. Let’s start at the root cause and that is Europe. Europe is the leading cause of all westernized evil historically. The US is nothing more than an extension of Europe in this respect. China is just getting back to what it has always been and that is an overpopulated country that eventually becomes responsible for mass killing of its own citizens in a frequent and ongoing pattern throughout its long history. Russia is in a league of its own with Stalin. No country on earth will ever equal Stalin and his “EVIL”. You anti US ideologues here make me sick with your Chinese/Russia/Europe “PORN”.

peterjames on Thu, 5th Jun 2014 2:13 am 



Greg T, in a world of diminished fossil fuels, I cant see where wealth will help people. A rich person today sits in an oversized mansion, has an oil powered super yacht, 10 oil powered cars, and many million dollars of stocks on the market. Even if someone has divested and purchased a billion gallon tank and filled it with oil, how long do you think he will retain hold of this, if 10 million people envy it. We arent growing back into the 1850’s, we are descending into the 1850’s. The US stock market once fell 90% when world oil supply was growing, imagine how much it can fall when its falling. I think at that point, the likes of Bill Gates or Warren Buffet start thinking the guy who owns a newspaper has the same wealth as their stock certificates. The guy who has a 2000 litre diesel tank on his farm, and 5 shotguns, becomes the King of America

Norm on Thu, 5th Jun 2014 4:20 am 



Shucks you guys are hard to impress. How about i get the Lambhorgini bullet proofed AND gold plated. There now you guys are impressed. Yay! Calling the dealer right now. Five minutes after I drive it off the lot, a naked underwear model will jump into the right seat.

Norm on Thu, 5th Jun 2014 4:23 am 



……… oh back to business. Seems like the title of this article, doesn’t really match the contents. Peak oil is coming, and the article talks about higher energy costs. So why call it ‘peak oil is not coming’. I guess we are in the era where nothing makes sense.

rockman on Thu, 5th Jun 2014 7:40 am 



“I cant see where wealth will help people”. Well, I’ve been wealth and been poor at various times in my life. And I don’t recall a single period when wealthy was better. LOL.

“…how long do you think he will retain hold of this”. The vast majority of folks who have their “stuff” taken from them are the poor. Easy enough stat to research. And they suffer more for any loss then a wealthy individual. It might not be fair but it is what it is.

GregT on Thu, 5th Jun 2014 11:49 am 



peter,

“in a world of diminished fossil fuels, I cant see where wealth will help people.”

As fossil fuels continue to diminish, less and less will be able to afford them. It won’t be the wealthy that will go without at first. It will be the poor, followed by the less poor, all of the way up the chain, until the supplies run out.

If I were a major land owner/farmer, for example, and I had the means to feed enough people and keep them alive, I am sure that I could still utilize their ‘labor’ to ensure my security, and perhaps even my own source of fossil fuels.

Wealth is not necessarily measured in fiat money, the truly wealthy are printing that fiat money out of thin air, it is human labor that they have control over. That is the true source of their wealth, as it has been throughout history.