Wednesday, September 02, 2009

We Are Running Out Of Peak Oil

Yes. It is true. We are temporarily running out of peak oil. A lot of new oil has been discovered. BP is British Petroleum.

BP has reopened the debate on when the "peak oil" supply will be reached by announcing a big new discovery in the Gulf of Mexico which some believe could be as large as the Forties, the biggest field ever found in the North Sea.

The strike comes days after Iran unveiled an even larger find of 8.8bn barrels of crude oil, and the moves have encouraged sceptics of theories which say that peak production has been reached, or soon will be, to hail a new golden age of exploration and supply.

BP, already the largest producer of hydrocarbons in the US, said its "giant" Tiber discovery in 4,100ft (1,250m) of water was particularly exciting because it promised to open up a whole new area.
Yes. A lot of oil. So far we are discovering it faster than we are using it. Not by a lot. But at least so far we are keeping up.
Analysts agreed that the find appeared to be very significant. "Any time an oil major uses the word 'giant' you have to sit up and take note. Kaskida confirmed the western limits of the lower tertiary play and this extends the limits even further," said Matt Snyder, a Gulf of Mexico specialist at oil consultancy Wood Mackenzie.
But I got to thinking. Especially about a comment made by Ron de Haan (05:22:33) at Watts Up With That.
Today the Liberals are infiltrated bu radical Marxists and Fascists and they have high jacked the entire AGW/Climate Change docrine, but not to replace coal plants by nuclear power plants.

No, this is about Global Governance, about control over the world’s resources and this is about population control.

The world will face a 30% increase of the population by 2030.

We will need 50% more agricultural output to feed the world, and we need 30% more energy.

Instead of building new power plants the West is talking about replacing existing coal fired plants by natural gas plants, a kind of cash for clunkers for energy plants instead of cars.

This is utter madness because it has taken us many years to build the current energy infra structure which could serve us for decades to come and we could spend all that wasted money for other purposes.

So, we have to conclude that the West does not intend not to expand the agricultural output and will not to increase but instead replace the current energy infra structure, thus concluding that they will NOT prepare for an increase in population and go the way of a population reduction (by starvation).
How is it the Socialists always start with there is not enough (xxx, yyy, or zzz take your pick) because there are too many consumers and then come up with the bright idea of passively or actively killing off the extras?

First it was too many Jews and other untermenschen. Not enough lebensraum. But that was found to be too racist for the tastes of some. Not to mention that agricultural output per acre was going up. Lebensraum, Jews, and untermenschen are now politically incorrect, so now it is just too many people. With either peak oil or peak CO2 taking the place of the now discredited lebensraum theories. There currently is no mention of who they have lined up to do the starving. No doubt a player or players to be named later. India and China don't seem to want to buy in so I guess that leaves the Africans.

The socialists answer to resource constraints is not "let us invent new resources at lower costs" i.e. serve more customers. Nope, the socialist answer is "kill off as many consumers as possible until supply and demand are in balance" i.e. kill off customers. I suppose that is one way to kill demand.

When it comes to all this "running out of" stuff I wish we were running out of socialists. Despite their kind words I do not think they have our best interests at heart.

Cross Posted at Classical Values


tubaplayer said...

"So far we are discovering it faster than we are using it."

No we are not! -- Zittel, Werner; Schindler, Jorg (October 2007) (PDF). Crude Oil: The Supply Outlook. Energy Watch Group. EWG-Series No 3/2007. Retrieved 2008-07-27.

ZenDraken said...

The economics of the oil cycle:

1. Oil supply tapers down
2. Oil prices increase
3. Oil profits increase
4. Oil companies plow more money into exploration
5. More oil is discovered
6. More wells are developed
7. Oil supply increases
8. Oil prices decrease
9. GoTo 1.

'Twas ever thus, and thus shall it ever be; until some energy source comes along that is way cheaper than oil.

M. Simon said...


The Reserves to Production Ratio has increased some over the year.

And then you have this find at 31,000 ft which fits in with:

The Deep Hot Biosphere : The Myth of Fossil Fuels

If Gold is correct there is 100X as much oil available as has already been used.

We are past the peak of $4 bbl. oil. Maybe even $40 bbl. oil. We are far from the peak of $400 bbl. oil.