[KevO]

$this->bbcode_second_pass_quote('', 'T')he U.S. Department of Energy admits that “a chance exists that we may experience a decline” of world liquid fuels production between 2011 and 2015 “if the investment is not there”, according to an exclusive interview with Glen Sweetnam, main official expert on oil market in the Obama administration.
This warning on oil output issued by Obama’s energy administration comes at a time when world demand for oil is on the rise again, and investments in many drilling projects have been frozen in the aftermath of the tumbling of crude prices and of the financial crisis.
Glen Sweetnam, director of the International, Economic and Greenhouse Gas division of the Energy Information Administration at the DoE, does not say that investments will not be “there”. Yet the answer to the issue of knowing when, where and in which quantities additional sources of oil should be put on-stream remains widely “unidentified” in the eyes of the most prominent official analyst on energy inside the Obama administration.
The DoE dismisses the “peak oil” theory, which assumes that world crude oil production should irreversibly decrease in a nearby future, in want of suffisant fresh oil reserves yet to be exploited. The Obama administration of Energy supports the alternative hypothesis of an “undulating plateau”

[KevO]

from the article
$this->bbcode_second_pass_quote('', 'T')he DoE dismisses the “peak oil” theory, which assumes that world crude oil production should irreversibly decrease in a nearby future, in want of suffisant fresh oil reserves yet to be exploited. The Obama administration of Energy supports the alternative hypothesis of an “undulating plateau”. Lauren Mayne, responsible for liquid fuel prospects at the DoE, explains : “Once maximum world oil production is reached, that level will be approximately maintained for several years thereafter, creating an undulating plateau. After this plateau period, production will experience a decline.”

[Cyrus]

Wuddup with that mythology shortonsense?

[ian807]

For a long time, peak oil will be about price more than actual shortages. In 1997, oil was $12 a barrel. Now, it's $83 a barrel. Admittedly, this figure is jiggered by the fact that it's in nobody's self interest to add refining capacity or production capacity beyond a certain point, but that too, is a pretty clear sigh of declining capacity. The oil companies want to maximize sustained profit, so keeping production limited is in their self -interest.

[KevO]

$this->bbcode_second_pass_quote('ian807', 'F')or a long time, peak oil will be about price more than actual shortages. In 1997, oil was $12 a barrel. Now, it's $83 a barrel. Admittedly, this figure is jiggered by the fact that it's in nobody's self interest to add refining capacity or production capacity beyond a certain point, but that too, is a pretty clear sigh of declining capacity. The oil companies want to maximize sustained profit, so keeping production limited is in their self -interest.

[shortonsense]

$this->bbcode_second_pass_quote('Cyrus', 'W')uddup with that mythology shortonsense?

[shortonsense]

$this->bbcode_second_pass_quote('KevO', '')$this->bbcode_second_pass_quote('ian807', ' ')The oil companies want to maximize sustained profit, so keeping production limited is in their self -interest.

[gollum]

$this->bbcode_second_pass_quote('shortonsense', '')$this->bbcode_second_pass_quote('KevO', '')$this->bbcode_second_pass_quote('ian807', ' ')The oil companies want to maximize sustained profit, so keeping production limited is in their self -interest.

[Cyrus]

$this->bbcode_second_pass_quote('shortonsense', '')$this->bbcode_second_pass_quote('Cyrus', 'W')uddup with that mythology shortonsense?

[shortonsense]

$this->bbcode_second_pass_quote('gollum', '
')Short, peak oil is a farce, go tell everyone you know!

[shortonsense]

$this->bbcode_second_pass_quote('Cyrus', '
')I guess what I'm saying is how does the Department of Energy coming to a consensus that there will be short as well as long term supply constraints while your posts seem to indicate you don't think there will be either.

[gollum]

I agree with short that there are a lot of gains we could make through efficiency and some social change. I just don't think we will until it's too late for them to be effective.

[shortonsense]

$this->bbcode_second_pass_quote('gollum', 'I') agree with short that there are a lot of gains we could make through efficiency and some social change. I just don't think we will until it's too late for them to be effective.

[sparky]

.

the peaking of oil extraction is a long heralded geological fact,
some uncertainty remains as to its occurrence , none as to its reality

Peak Oil as discussed by many bloggers on this site refer more precisely to the economic and social consequences of scarcer and ( presumably ) dearer oil

there is a strong doomer line ,
it assume modern society to be on the bycicle model ,
if it slow down , it collapse in a heap

Some assume the technical and scientific gains provide a sufficient prop to avoid a general collapse , simply a painful re orientation toward a more sustainable society

Other presume it's one of the many failed predictions and scare stories beloved of medias and fringe elements ,
there is an abundance of resources ,
technology and progress will overcome possible shortage as it always had in the past
That's an Egelian position , contradiction are resolved by a mutation to a better stasis

History has provided many example of civilizations collapses ,
either from internal or external stresses , often from both simultaneously
often in quite brutal ways

One thing I totally believe , energy is no joke ,
its the very life blood of any society ,
even more vital the more complex the society is

Time will tell

[hillsidedigger]

Don't you listen to those oil company TV ads where they say world consumption of oil will increase by 50% during the next 20 years?

[mcgowanjm]

Amazingly insane:

$this->bbcode_second_pass_quote('', 'n')othing more than a recession

[shortonsense]

$this->bbcode_second_pass_quote('sparky', '.')

Peak Oil as discussed by many bloggers on this site refer more precisely to the economic and social consequences of scarcer and ( presumably ) dearer oil

[shortonsense]

$this->bbcode_second_pass_quote('mcgowanjm', 'A')mazingly insane:

$this->bbcode_second_pass_quote('', 'n')othing more than a recession

[mcgowanjm]

And the Bottom 90% pay all FICA, sales, retail taxes.

Plus All Multinationals pay zero.

See GE/ XOM offshore for details.

$this->bbcode_second_pass_quote('', '�')��It’s not a question of the danger of contagion; contagion has already happened,” OECD secretary general Angel Gurria said.

“This is like Ebola. When you realise you have it you have to cut your leg off in order to survive,” he added, saying the crisis is "threatening the stability of the financial system".

*
World stability hangs by a thread as economies continue to unravel

Alistair Darling, the Chancellor, called for Eurozone countries to "urgently" agree a bail-out for Greece or risk a further decline in stock market confidence.

[mcgowanjm]

$this->bbcode_second_pass_quote('shortonsense', '')$this->bbcode_second_pass_quote('mcgowanjm', 'A')mazingly insane:

$this->bbcode_second_pass_quote('', 'n')othing more than a recession