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sp1

Indipendant Jounalist -alex Jones

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I attended a talk on Peak Oil last night by a guy who had been an engineer in the oil industry for 10 years. I am convinced peak oil is about to hit us. I am also convinced that the vast majority of people won't see it coming. Yet I have yet to see the graphs and the statistics that convince me that it is not happening. BP are not re-investing their profits in more exploration because we are running out of places to extract oil where extracting a barrel of oil costs less than a barrel of oil. So what are they doing with their huge profits? Well one thing they are doing is buying back their own shares. Not promising.

The rate of discovery is falling way behind the rate of consumption.

I have met people who simply state that oil will not run out but they have never worked in the industry or studied the figures.

http://www.peakoil.ie/downloads/newsletter...er58_200510.pdf

Oil_Discoveries.JPG

post-1919-1130536718_thumb.jpg

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I'd like to ask both of you for more specifics.

I am interested in this argument but (1) - Alex Jones also has headlines like

"...armed combat ready Mexican troops have entered Texas."

and

"Four Star General Fired For Organizing Coup...."

and for sp1 (2) -

Who was the speaker? Where was the conference? Sponsors?

Like I said I'm interested but not 100% convinced by either arguement and am open to persuasion.

I look forward to your replies

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I suppose my argument is simply that all the evidence suggests that we are not discovering enough oil to meet demand. (see thumbnail graph in my previous post).

If someone could provide graphs which show either

1. Where enough new oil will be found to meet current demand and future demand

or

2. Why demand for oil will decrease

then I could be persuaded that it isn't as serious as I worry it is.

The methods used in acquiring the data for the current peak oil estimates are well known and reputed. They were devised by a scientist called Hubbert who, in the fifties predicted that oil supply in the states would peak in 1970. Hindsight shows he was only a few months out even though he was widely slated for being a crackpot at the time of his predictions. Using the same method we see that peak oil for the world as a whole should be between now and 2010.

There are huge implications for us if Peak Oil is indeed about to arrive. Trade is so dependent on oil that any disruption to its supply or any move to alternative sources of energy will be hugely disruptive.

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Is there any possible truth to the whole abiotic oil thing or is it just pseudo-science??

My gut/hope is that it is rubbish but i am no geologist and have done zero research into it

cheers

There may be some truth in it. I am pretty ignorant about it to be honest. But if it is true then I am confused as to why wells run out and deplete or why there has been a conspiracy amongst thousands of oil engineers to avoid discovering new fields.

It is difficult to believe that the Peak Oil argument is a conspiracy to justify attacks on Iraq and Iran. If there was no shortage of oil then there would be no reason to try to grab it. It would be better leaving these countries alone. (By the way I am not in favour of an attack on Iran or Iraq).

If the supply of oil really is limitless then I'll need to do some thinking. It would mean I have misunderstood so much about the current politcal situation.

Imagine how toasty it is going to get if we keep burning trillions of tonnes of oil though.

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There may be some truth in it. I am pretty ignorant about it to be honest. But if it is true then I am confused as to why wells run out and deplete or why there has been a conspiracy amongst thousands of oil engineers to avoid discovering new fields.

It is difficult to believe that the Peak Oil argument is a conspiracy to justify attacks on Iraq and Iran. If there was no shortage of oil then there would be no reason to try to grab it. It would be better leaving these countries alone. (By the way I am not in favour of an attack on Iran or Iraq).

If the supply of oil really is limitless then I'll need to do some thinking. It would mean I have misunderstood so much about the current politcal situation.

Imagine how toasty it is going to get if we keep burning trillions of tonnes of oil though.

The issue is not the shortage of oil but rather to control is and the currency it is traded in and to control the trade of the oil producer ie thier domestic markets which as thier oil production starts or rises thier economy grows and they become desirable growth markets for the Globalist. When I was In Saudi you can see the over bearing influence of the US on the streets - all the cars are American - why not any japanese, oe european cars??

Cos It is NOT a free market

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I think Peak Oil is inevitable and actually a good thing ..... well after the short term adjustment pains ..... it should work out to be a perfect way to level out the inequalities of wealth both nationally and more importantly globally ...... Mad Max here we come !!!

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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