by AirlinePilot » Mon 18 May 2009, 14:17:50
$this->bbcode_second_pass_quote('OilFinder2', '')$this->bbcode_second_pass_quote('OilFinder2', 'M')y position is that there is far more oil than peakers believe, that the technology and resources to produce this oil exists or will soon exist, and therefore, that production of oil will peak when demand for oil peaks. When that demand-peak will occur, I don't know. It could have been last year, or it might not be for decades. Or we might plateau for decades. Nobody knows.
BTW, you might want to take mental note of the implication of my position: If my position is correct (and of course I believe it is), the price of oil will
fall once production and demand begins to fall, rather than the price
rise as production falls. It might steadily rise for a while, which will encourage new production, and this new production might even be from increasingly expensive sources. But that steady rise in price will encourage people to gradually reduce their consumption and switch to other energy sources (hint: this discussion is in a thread about
gas hydrates *ahem*). Once the switch-over to other sources really starts to gather steam, oil consumption will decline, and so will production, and oil producers will reduce their prices in a desperate attempt to attract customers, but by now they're pumping much of their oil from the deep waters off the coast of Labrador, so they'll be losing money. Then they'll shut down their more expensive production, but it won't matter because there's no demand for it anyway. Near the end of the Age of Petroleum you'll still have the Saudis and Iraqis pumping out most of the world's oil, but that's only because they're the only ones who can still do it for $15/barrel.
I want some of that dope your smoking Oily, it must be really good stuff.
This is the cornucopian bible folks. We somehow transition to an as yet unknown resource which can replace what oil has done for us over the last 100 years. Only problem is you better find it soon my friend, very soon. Good luck with that.
As Montequest pointed out so well for so many years here, we are just out of time. The realist in me does not share this optimism. This is what the debate always devolves to. You've got your take and i've got mine. As time moves forward decline doesnt slow. Time will grow shorter and no amount of tech does anything more than buy us a bit moref time. My take is that as humans we fight kick and scream to avoid real change. This time will be no different but if your thinking we have some longer term in which to make that happen, you havent been really paying attention. That or your cornucopian glasses are really obscuring your vision.
While I'll embrace your mantra with open arms gladly if and when it occurs, I cannot share your opinion at this time.