World Oil Production to Peak in 2013

peakoil · 2009-06-10T17:47:59+00:00

Hello,does everybody know that according to some Oil Geologists (e.g. ColinCampbell) in 2013 the world oil output is going to peak ? Are youaware what this does mean for all of us ? We have 4 years from now,until there will not be enough energy for travelling, heating and themost important for food for everybody of us. Oil prices will begin topeak, not 150 USD/barrel, much much higger prices are expected. Manypeople will loose their jobs and many of us will begin to starve.Alternatives will also be more expensive since the demand willincrease astronomically. Alternative energy will also be much muchmore expensive, due to the demand and due to much higher costs. Makinga wind turbine cost a lot of energy. Making ethanol cost a lot of oil(pesticides, insecticides, transportation, production, harvesting,fertilizers etc.). Making insulations cost also a lot of oil.What is the solution ? The only way is to act now, individually. Now,where the oil prices are still cheap, although there is an increase,each individual can begin to prepare himself for these hard times innear future. Insulation of houses, solar cells, which are now moreaffordable (in ebay 1 W solar cells cost 1 USD or even less), solarwater heating, solar heating with mirrors reflecting the sunlight toyour home in winter, making your own wind turbine (a lot ofinstruction of cheap design can be found in the internet), buying aplug-in car or a hybrid vehicle, using energy efficient lightning,heating with heat pumps, making a winter garden etc. are some of thethings each of us can do to prepare himself/herself for hard times andto save money and energy. There are also ways to save energy and tryto extend the date a little bit by using the car only when necessary,using the bike instead of your car, using public transportation,converting the car to methane fueling, saving energy where ever it ispossible, not only in your home also in your work, etc. will help toextend the date.The other alternative is to wait...

Jun 10, 2009 25 Replies

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Dave D 17 years ago

I agree with you here. I have read many papers on this subject with basically the same finding. The ecoterrorist are the ones putting no to this project.

Not so. They are developing fields along the Arctic coast in all areas where these same ecoterrorists haven't stopped development.

This most definitely is not true. Yes, natural gas is being stored underground in the Prudhoe Bay field, in the Kuparik field, in the Seal Island field (to name just a few) but the reason is not to control the price. Rather, there is no way, at present, to move the gas from the North Slope to markets in Alaska, Canada, and the "smaller states". However, Gov. Palin has negotiated contracts with companies to move said gas to the markets. There is some lead time involved, say ten years or so. We here in Alaska are impatiently waiting for that day to come.

DaveD

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rjdriver 17 years ago

He's referring to speculators in commodity futures. The commmodity being oil. Until the year 2000 its was not possible for speculators to dabble in oil futures (except for a a few "exceptions". It was considerd to be too risky in terms of causing price spikes unrelated to to actual supply and demand. When that restriction was eliminated by Congress (at the request of Enron, no less)), guess what happened - price spikes unrelated to supply and demand!

That restriction needs to be put back into place. And quickly. The Arab feifdoms lost control of world oil prices that year, but I'm not sure who is worse having that control - OPEC or the likes of Goldman Sacks.

Bob

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Neo 17 years ago

If global climate trends continue - large tracts of land previously covered by ice will be accessible for oil and natural gas exploration and extraction. This may delay the year that world oil output peaks.

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Tegger 17 years ago

"rjdriver" wrote in news:7FN8m.33948$ snipped-for-privacy@newsfe16.iad:

99% of oil futures are traded between institutions: airlines, transportation companies, insurance compaines, banks, investment firms, retirement funds, that sort of thing.

The primary reason oil and other commodities spiked last year was a wholesale switchover away from housing markets, as the subprime crisis hit. As the above invertors ("speculators") realized the mounting losses in housing, they hurriedly pulled their money out and put it into the next best thing: commodities. That's why foodstuff commodities spiked at the same time.

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Neo 17 years ago

ewsfe16.iad:

When the subprime crisis hit - speculator who were using credit via equity-swaps evaporated and became more susceptible to losses in the derivatives and commodities market. Food stuff commodies were increasing before the subprime crash and have stablized during the following recession. Increase energy cost and increase production of bio fuels - ethnanol in particular - has been blame for the rise in food stuff. Enron has been charged with manipulating electric utility prices higher. Increase use of oil by the world (especially the USA and China), the lack of Iraqi oil production due to the Iraqi War, and low production levels of "sweet crude" high grade oil has also been said to put pressure on the cost oil base fuels.

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