[ROCKMAN]

K,

Have you seen any timing for the completion of the REP? I heard it was redirected towards another interconnect a good while back.

[AgentR]

Peak Oil is not about the spot price of oil.
Sheesh.

Besides, go back just five years and tell them we'd be singing Halleluiah Chorus to $70 oil and they'd think we'd gone bonkers.

People that are more survivalist than realist always want/anticipate things happening fast. PO is not likely to be fast at anything. Its a slow squeeze; everything getting just a little bit harder to pull off, day after day, year after year. Which is what makes it so horribly dangerous; tomorrow will always be only just a "little bit" more challenging; surely we can put off the hard choices till next month/year.

[kublikhan]

$this->bbcode_second_pass_quote('ROCKMAN', 'K'), Have you seen any timing for the completion of the REP? I heard it was redirected towards another interconnect a good while back.

[Serial_Worrier]

$this->bbcode_second_pass_quote('Economix', 'I')f Peak Oil is only about extraction, who gives a rip? In other words, if we're only measuring extraction rates, why lose sleep over it?
In my opinion, what we're really talking about on Peak Oil is this:
1. The dangerous socio-economic and political impact of Peak Oil.
2. The possible geopolitical violence that could result from Peak Oil.
3. The potential alternatives to oil to prevent #1 and #2 above.
It's not about oil, it's about energy -- and the big problem we have finding enough energy for the world's growing population. Just talking about extraction rates is nothing but a geology debate. We're talking people here, folks. People = society. People = prices.

[ROCKMAN]

Good luck with the COE permit K. A few years ago I watched an operator wait 1 year to get a COE permit to bury a 3" salt water line 2' down where it crossed a 46" water line buried 12 feet down. Guess they just wanted to be very sure.

[Matrim]

$this->bbcode_second_pass_quote('', ' ')If PeakOil is only about "extraction rates," then we ignore the consumption side of the equation. The reason prices went up, in my opinion, was a perception that demand would continue to soar unabated in the face of peak extraction rates. Obviously, demand can fall dramatically in response to economic conditions. Demand can also fall as substitutes enter the marketplace.

[shady28]

$this->bbcode_second_pass_quote('Matrim', 'E')xcept that demand worldwide hasn't actually fallen, mostly just in the U.S. and is it really necessary to point out that $70/bbl oil is still historically very high. Our leaders should be taking a good close look at what can cause such price volatility...oh wait, they have, they just don't want you to know.

[AirlinePilot]

$this->bbcode_second_pass_quote('shady28', 'I')n the first 7 months of 2008, US oil demand dropped by 3.8% or 800,000 bpd. It looks like that drop is going to be roughly doubled in the final months of 2008 - the numbers for the past month suggest a 1.5 million bpd drop.

[jupiters_release]

$this->bbcode_second_pass_quote('AgentR', 'P')eople that are more survivalist than realist always want/anticipate things happening fast. PO is not likely to be fast at anything. Its a slow squeeze; everything getting just a little bit harder to pull off, day after day, year after year. Which is what makes it so horribly dangerous; tomorrow will always be only just a "little bit" more challenging; surely we can put off the hard choices till next month/year.

[AgentR]

$this->bbcode_second_pass_quote('jupiters_release', '')$this->bbcode_second_pass_quote('AgentR', ' ')PO is not likely to be fast at anything. Its a slow squeeze; ...

[shortonsense]

$this->bbcode_second_pass_quote('kublikhan', 'I')t should help slow rising natural gas costs in the rest of the US. Colorado residents are going to see an end to the era of ultra cheap natural gas they got used to however.

[AirlinePilot]

$this->bbcode_second_pass_quote('AgentR', 'I')n the realm of reality, there is no getting around the fact that the US will domestically produce more than 5 million barrels of oil per year, for a very long time to come. Any theory which fails to take that into account is simply unrealistic.

[AgentR]

We produce more than 5 now. Yes there will be a decline of course, the point is, that there will be a very substantial amount of oil produced within the US for a very long time.

I'm not arguing that the economy will grow, or that things will even be comfortable; my point is that there is a min and max constricting the solution of the curve; and that the min is not trivially small; thus as we enter the "end of the oil age", a fairly long, bumpy plateau is what we should expect, and are seeing.

$this->bbcode_second_pass_quote('AirlinePilot', '')$this->bbcode_second_pass_quote('shady28', 'I')n the first 7 months of 2008, US oil demand dropped by 3.8% or 800,000 bpd. It looks like that drop is going to be roughly doubled in the final months of 2008 - the numbers for the past month suggest a 1.5 million bpd drop.

[Plantagenet]

$this->bbcode_second_pass_quote('OilFinder2', ' ')the decline in US oil consumption has actually accelerated since oil prices started going down in July.

[shortonsense]

$this->bbcode_second_pass_quote('Plantagenet', '')$this->bbcode_second_pass_quote('OilFinder2', ' ')the decline in US oil consumption has actually accelerated since oil prices started going down in July.

[yesplease]

$this->bbcode_second_pass_quote('Plantagenet', '')$this->bbcode_second_pass_quote('OilFinder2', ' ')the decline in US oil consumption has actually accelerated since oil prices started going down in July.

[AirlinePilot]

$this->bbcode_second_pass_quote('OilFinder2', 'I')n case you haven't been noticing here, the decline in US oil consumption has actually accelerated since oil prices started going down in July. Here is the most recent chart.

[jupiters_release]

$this->bbcode_second_pass_quote('AgentR', 'W')e produce more than 5 now. Yes there will be a decline of course, the point is, that there will be a very substantial amount of oil produced within the US for a very long time.

[yesplease]

$this->bbcode_second_pass_quote('AirlinePilot', ' ')Give it some time Oilfinder. It's not going to show up for quite a while. Maybe a month or two, but I'll safely predict that with these very much lower prices the recession fear is eased and gasoline consumption is going to go right back up again.

Cheaper gasoline has only been very recent(last few weeks) and it's going to take some time to filter back into a measurable increase in demand.

Don't kid yourself into thinking all of a sudden J6P has become intelligent.