Monday, Jun 18, 2007
Matt Simmons and John Kilda discuss a US report on oil depletion.
You Tube - CNBC: Oil Supply Shock
Matt Simmons on CNBC a month ago talking about a US government report on Peak Oil. Gives a balanced view and suggests that supply and demand may diverge this summer.
Posted by philipe @ 12:21 AM (148 views) Add Comment
3 Comments
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1. Pr said...
I would like to take this opportunity to credit www.theoildrum.com for this link. There are a few other similar broadcasts on the top thread.
2. Rickyb said...
For a fairly sobering view on Peak OIl, I would advise anyone to go to http://www.lifeaftertheoilcrash.net/ . However I'm not convinced of several of the arguments mentioned on this website, particularly of his arguments against the viability of synthetic oil from coal.
3. Noutram said...
I have been following the 'Peak Oil' debate for about 9 months now, looking at sites mentioned in comments above and others.
In my view 'Peak Oil' is the 'elephant in the room' so to speak. The essence of the Peak Oil argument is not that we are running out of oil but that the cheap, easy oil period is coming to an end. An end to cheap oil and then a protracted and painful re-adjustment to a world with increasingly expensive energy, in addition oil has become the feedstock for thousands of industrial processes. As an analogy consider a strain of bacteria growing in an almost empty jam jar that happens upon the last remaining glob of jammy fruit and begins munching away at it. Within a very short space of time it has doubled and doubled again. We have spent the last 50 or so years in this blissful state and are rapidly approaching the point at which it gets harder and harder to scour the last remain tit-bits of non-renewable fossil fuel resources.
Instead of spending this vast wealth on preparing for life after it has gone humans have gone into a 'feeding frenzy' and that includes financial instruments that we use to generate wealth (stocks, houses, etc.) The reason it will be a painful is because we will be required to pay for the alternatives during the time of re-adjustment when we are least able to afford them.
It's easy to dismiss the argument in favour of a 'technology will rescue us' or 'boy crying wolf again' point of view but I would recommend you at least try and get some notion of the possible impact as the only debate that now remains is when the adjustment proper begins, and if higher energy costs is to be the initial signal then we may already be there...