[advancedatheist]

People found oil in all kinds of unexpectable places in the 1930's, way more than the market could have absorbed for many years, even though at the time the price for oil dropped so low because of the Great Depression that the oil companies almost had to give the stuff away. Why doesn't that happen now?

[Geko45]

$this->bbcode_second_pass_quote('', 'O')il, Oil Everywhere

[peripato]

Because most of the oil's been found.

[Concerned]

Actually the alarmist "theory" is that we are running out of cheap oil. Hence the term Peak Oil as in peak production. The alarmist theory does not talk about running totally out of oil

[mekrob]

Better to make us look like incomptents than to write about the facts.

[peaker_2005]

I'll let my sig speak for my view on this article...

[shakespear1]

The power of using the right words

$this->bbcode_second_pass_code('', 'alarmist theory')

[FoxV]

$this->bbcode_second_pass_quote('', 'o')il oil everywhere

[Zardoz]

$this->bbcode_second_pass_quote('Leonardo Maugeri', '
')...In Saudi Arabia only 300 oil and gas wells (including developmental wells) have ever been drilled...

[Fergus]

$this->bbcode_second_pass_quote('FoxV', '')$this->bbcode_second_pass_quote('', 'o')il oil everywhere

[Battle_Scarred_Galactico]

What an idiot, hung by his own play on words.

[shortonoil]

$this->bbcode_second_pass_quote('', 'O')il, Oil Everywhere
Leonardo Maugeri, 07.24.06
We're not running out of oil--but high oil prices are needed to find it.
There is an alarmist theory that the world is running out of oil. Quite the contrary. There is plenty of oil in the ground, and high prices are just what's needed to tap the earth's vast reserves.

[dub_scratch]

$this->bbcode_second_pass_quote('', 'L')eonardo Maugeri
We're not running out of oil--but high oil prices are needed to find it.

[slick]

He may be right inasmuch as currently in the ME there are a few huge wells but not the trillion little wells the USA sank as oil began drying up. So, extending what happened in the US to what's happening there, we could see a proliferation of little wells in the ME, and indeed all over the world, more than making up for lost big well production, although for how long is the question.

[Gazzatrone]

$this->bbcode_second_pass_quote('dub_scratch', '')$this->bbcode_second_pass_quote('', 'L')eonardo Maugeri
We're not running out of oil--but high oil prices are needed to find it.

[dub_scratch]

$this->bbcode_second_pass_quote('Gazzatrone', '
')With that respect has he just unwittingly admitted that Peak has occured. Both with regard to the end of cheap oil and the amount left to utilise.

[Gazzatrone]

$this->bbcode_second_pass_quote('dub_scratch', 'T')he hope is that the audience does not notice this contradiction.

[Eli]

$this->bbcode_second_pass_quote('slick', 'H')e may be right inasmuch as currently in the ME there are a few huge wells but not the trillion little wells the USA sank as oil began drying up. So, extending what happened in the US to what's happening there, we could see a proliferation of little wells in the ME, and indeed all over the world, more than making up for lost big well production, although for how long is the question.

[dub_scratch]

$this->bbcode_second_pass_quote('pstarr', '
')
The ME is several oil regions, all government-owned. It is a much newer oil region that matured with new efficient technologies. Finally it is mostly a hostile dead desert. One does not idly go out into one's backyard and drill a hobby well there. Each ME project demands a complete infrastructure replete with new roads, housing, security, and a finished pipeline. Of course there are few wells. Suffice it to say Lynch did not respond.

Still, if there are only 300 wells in SA he makes a good point sort of?