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RexRacer
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Joined: 17 Aug 2004
Posts: 814
Location: A pancake house of ineffable crappiness
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 Posted: 01/28/05 - 11:30 Post subject:
| thegman wrote: | $80 Oil, Here We Come! is an essay by Bill Powers, who is editor of the Canadian Energy Viewpoint. He writes, "the price of oil will not significantly pull back from today's levels and is likely to reach the $80 mark within the next 24 months."
He notes that oil is getting harder and harder to get out of the ground, and that they are using massive amounts of water injection to extract the oil. Specifically, he writes, "High water cuts at Ghawar (7 million barrels of water a day according to sources) are a clear indication that the world's largest field is about to head into a steep and irreversible decline."
Joy!!  |
Absolutely. I have no doubt that we have already experienced peak decline in the world oil supply. The writing is all over the wall (hell, so much so one can barely see the wall) but its not a subject that folks are very familiar with, though it affects us more gravely than perhaps almost any other issue of our day.
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gretriever
Hipster Doofus
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Joined: 16 Jul 2003
Posts: 19385
Location: A moving target in a firing range.
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Posted: 01/28/05 - 11:45 Post subject:
| RexRacer wrote: |
Absolutely. I have no doubt that we have already experienced peak decline in the world oil supply. The writing is all over the wall (hell, so much so one can barely see the wall) but its not a subject that folks are very familiar with, though it affects us more gravely than perhaps almost any other issue of our day. |
I think there's more familiarity with it than you do, Rex. But the two reasons it doesn't look that way:
1) Detroit has foisted SUVs and mini-vans with the appeals of safety and family. People get them, and many think "If they're making these, and they don't get as good fuel efficiency/economy, it must be because there's plenty of gas and oil."
2) The "we'll let the next generation(s) deal with the shortage. I've got plenty." Same mentality as the Social Security issue.
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TOsteve
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Joined: 08 Dec 2004
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Location: Out for a run
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Posted: 01/28/05 - 11:55 Post subject:
| RexRacer wrote: |
Absolutely. I have no doubt that we have already experienced peak decline in the world oil supply. The writing is all over the wall (hell, so much so one can barely see the wall) but its not a subject that folks are very familiar with, though it affects us more gravely than perhaps almost any other issue of our day. |
Let's not forget that the mainstream media plays a big role in determining the issues that people really care about. This is definately presented to the public as either a fringe enviro issue or not an issue at all. We wouldn't have to look too deeply to see why the masses are having the wool kept over their collective eyes on this.
Oil is the fuel that runs industrialized society - a huge price leap is going to affect a lot more than how often we take mass transit or whether we can afford to go to Europe next summer.
Luckily we still have a lot of untouched forest and lakes here in my part of the world, maybe all that camping I've done in my life will start to come in handy...
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