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I need an update

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I need an update

Unread postby sciencegirl » Fri 13 Nov 2009, 16:01:55

I have not logged in to this site in over a year, so I am kind of behind on news and all that junk. Last I was here I was kind of convinced that peak oil happened in 2005. Is 2005 still the year that most people figure that peak oil hit for conventional oil, or has any new data come out. I know I could probably read up on articles in the forums but I don't have the patience to read through all that. Anybody want to fill me in on new news. [smilie=eusa_pray.gif]
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Re: I need an update

Unread postby dukey » Fri 13 Nov 2009, 16:46:11

we are riding the plateau i believe, the recession helped dampen demand and cool prices
I think that's basically where we are now
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Re: I need an update

Unread postby Novus » Fri 13 Nov 2009, 21:17:53

Plateau is over and we are clearly on the down slope now. Hello $80 oil in the middle of a huge recession. In 2005 during the boom times it took a hurricane to get oil to $80. Things have changed since then namely Peak Oil happened. Oil production is declining and the economy is imploding as a result.
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Re: I need an update

Unread postby shortonsense » Fri 13 Nov 2009, 21:56:50

$this->bbcode_second_pass_quote('sciencegirl', 'I') have not logged in to this site in over a year, so I am kind of behind on news and all that junk. Last I was here I was kind of convinced that peak oil happened in 2005. Is 2005 still the year that most people figure that peak oil hit for conventional oil, or has any new data come out.


SImmons says that 2005 is still the year. 4 years post peak now.

http://www.mmnews.de/index.php/Englisch ... -2005.html
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Re: I need an update

Unread postby dorlomin » Sat 14 Nov 2009, 10:38:10

$this->bbcode_second_pass_quote('sciencegirl', 'I') have not logged in to this site in over a year, so I am kind of behind on news and all that junk. Last I was here I was kind of convinced that peak oil happened in 2005. Is 2005 still the year that most people figure that peak oil hit for conventional oil, or has any new data come out. I know I could probably read up on articles in the forums but I don't have the patience to read through all that. Anybody want to fill me in on new news. [smilie=eusa_pray.gif]
We are bumping along the plateau right now. We hit records last year but only by fractions when oil was $146. The financial crisis has hit alot of projects but the economic viagra (artificial stimulus) has put a floor under the asset deflation for a while restarting some demand and getting projects back underway.

I still hold cautiously to the idea we may yet break the total Crude and Condisate record again before 2012, but there has been nothing what so ever to change the general picture.

The widely used working figure for depletion from existing fields is now 6%, so we are likely looking at about 3% depletion factoring in new fields and a bit of unconventional oil.
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Re: I need an update

Unread postby sciencegirl » Sat 14 Nov 2009, 14:40:47

Thank you all for filling me in, Should be interesting to see how it all plays out. I believe the US corn harvest is supposed to be poor this year, so I am sure this might effect bio fuel production. I think I will just sit back and enjoy the show. [smilie=clock.gif]
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