Daniel Yergin Says the Global Supply of Oil and Gas is Higher Now Than 20 Years Ago

19 Comments on "Daniel Yergin Says the Global Supply of Oil and Gas is Higher Now Than 20 Years Ago"

Rick on Fri, 30th Mar 2012 9:22 pm 



Daniel Yergin = corporate tool, fool, and just don’t believe a word he says.

KingM on Fri, 30th Mar 2012 9:43 pm 



Not much of an article.

SOS on Fri, 30th Mar 2012 10:24 pm 



Once again technology has changed the world. New drilling technologies have changed the course of peak oil. Peak oil is over. Dont be a flat earther on this like the president. With orderly development on federal lands we could save social secruity, pay the national debt and balance the budget. We must move ahead and produce this wealth for every american.

JeffBC on Fri, 30th Mar 2012 10:42 pm 



SOS is a cornucopian fool.

Newfie on Fri, 30th Mar 2012 10:43 pm 



SOS says “Peak oil is over.” Oh sure, oil is now inexhaustible. And so why is the price of oil steadily rising ? Uh…

Beery on Fri, 30th Mar 2012 11:16 pm 



Anyone who says Peak Oil is over with Brent Crude at over $120/bbl is smoking crack.

Cabra1080 on Sat, 31st Mar 2012 2:11 am 



The supply in terms of total liquid fuels production is up a bit compared to that of twenty years ago. However, demand is up even more with China and India coming up and supply struggling to keep up with demand. With oil prices north of $120/bbl it surely looks like supply side is losing the battle to keep up. Just now, most conventional (read: Easy, cheap Oil) oil fields are in decline. Welcome to Peak Oil!!!

pete on Sat, 31st Mar 2012 3:22 am 



sos will then tell us how this big turn around will come about, I am amused. But if I hear wind of frac the crap out of everything, open the last few unspoiled areas in north america or be dam with regulation for offshore wells and more tax breaks for the .01%. Then I might be inclined to shout OIL LOBBYIST!.

MrEnergyCzar on Sat, 31st Mar 2012 3:51 am 



He must have EROEI denial or considers a resource to mean reserve…

MrEnergyCzar

BillT on Sat, 31st Mar 2012 4:19 am 



And what NET energy do these new ‘liquids’ contain per barrel? Maybe we are comparing barrels of sweet light crude with the asphalt like stuff from sand or maybe a barrel of moonshine from the hills of Arkansas?

I suspect that if a graph of net energy contained in the liquid fuels mentioned, it would show that we have been on the downward slide for decades and not just a few years.

pete on Sat, 31st Mar 2012 5:02 am 



But lets give Yergin his due, the EROI may suck and who needs well water and I’m sure those earthquakes in Ohio were nothing that bad. He is right, because with high oil prices tar sands and frucked shale reserves count

Joey on Sat, 31st Mar 2012 5:03 am 



SOS Peak oil is over if bird flu kills everyone in China and India

Arthur on Sat, 31st Mar 2012 9:13 am 



Daniel Yergin is a representative of the ruling elite in the US, that is in total denial of even the most basic realities. They dream of a New American Century of globalism, perpetual economic growth, all under the leadership of our Benevolent Hegemon, financed by Asia.

Not going to happen. The world is going to be fractured, international trade is going to dive, armed conflicts everywhere, the rise of the not so benevolent warlords.

Mike on Sat, 31st Mar 2012 10:56 am 



Um isn’t this the point of peak oil?. That the maximum Level of output will be reached and then a decline. I’m pretty sure we are supplying more oil now than ever, but were also using more. The crunch time comes when demand is higher than supply. We are getting very close to that point. Peak oil is probably going to hit in this decade, 2015 or so. We are at the very least on some kind of Plateau right now.

SOS on Sat, 31st Mar 2012 12:20 pm 



Rising oil prices are a fault of the US goverment. dont be flat earthers. Technology has once again provided for the human race. New drilling technologies have created recoverable reserves that are more than ample for hte next 100 years. The funniest thing I see is the anger from you folks when you meet with information not in line with government bulletins and nerws from green peace.

dont be flat earthers like the president. Embreace the new technology, lets develop our federal resources in an orderly manner and lets pay off the national debt, fund social secruity and balance the budget. The resources are now available.

SOS on Sat, 31st Mar 2012 12:23 pm 



Pete, you really need to get a grip on what is going on. Certainly you are frustated that peak oil and the end of the world have been diverted, but dont be a flat earther. Drilling technologies are opening up vast reserves of energy previously untouchable. If you dont want cheap energy, or the federal budget balanced, if you dont want social security funded and you want to continue to struggle with unusually high prices related to high energy costs, wake up and accept the new reality of abudnet energy, balanced budets and more money for yourself.

BillT on Sat, 31st Mar 2012 1:03 pm 



…”Rising oil prices are a fault of the US goverment”…

True on many levels, but to stop what is causing it would be to collapse the whole economy of the world. THEN, the price of gas would not be important because you would not have any money to buy any. No, new tech is NOT going to produce more oil. It will not even keep up with declining production from existing fields. At best it will slow the decline. And, we are bouncing along the edge of the cliff. Perhaps an attack on Iran will push us over?

WhenTheEagleFlies on Sat, 31st Mar 2012 7:28 pm 



SOS,

That’s very prescient of you. Now if you could find only one petroleum geologist who would agree with you. Drilling techniques are a moot point if there are no substantial reserves. I worked in the industry during the 1980’s. Even then the consensus was already forming that the end of the oil age was in sight.

green_achers on Sat, 31st Mar 2012 10:58 pm 



Well, yeah, that’s kind of what they mean by the term, “peak,” ya nitwit.