by Eddie_lomax » Thu 27 Apr 2006, 13:58:02
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The report predicted that oil production would grow from the 2004 level of 82 million barrels a day to 115 million barrels a day and that any “peak” would occur after 2030. It suggested that world oil prices will decline to around $35 per barrel (in 2004 dollars) by 2010 and eventually rise to $39 per barrel by 2030. At the Montreal Climate Change Conference in December, Claude Mandil, head of the International Energy Agency, declared: “We don’t share the tenets of the peak oil theory. We feel that they underestimate technological developments. For many decades to come there is no geological problem.”
Yet again we have the big figures rolled out, however with 54 or so of the 65 oil producing countries declining it doesn't take a genius to work out that the countries left will have to raise their production by astronomical levels to fufill Micheal Lynches dreams.
Michael Lynch and other morons of his ilk don't look at the individual countries, even the most basic analysis shows their figures are plain wrong - like why is it that we aren't tapping these wonderful larger reserves now ? I find it incredible really that none of these economists has even sat down and costed out the path to even generate these oil flows (say using unconventional oil to make up the shortfalls), instead they just sit on their arses and wait for the mystical market to make everything happen.
One thing I have noticed, I've not read about a single petroluem geologist mentioning comments debunking peak oil - thats telling.