How do they know with certainty?

[AVGWarhawk]

How do they really know? Does this look like another man-made panic to constitute a raise in oil/gas prices? I'm thinking so:hmmm:



The world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned.


Since when does an energy economist become a geologist and make predictions on oil output? Let the panic begin..........

http://www.independent.co.uk/news/science/warning-oil-supplies-are-running-out-fast-1766585.html

[Sailor Steve]

It's been my observation that people always "know" something, and they're always glad to tell you what they "know" and you don't.

[FIREWALL]

The only thing that's certain is... Death and Taxes.

[Thomen]

The only thing that's certain is... Death and Taxes.

Not really. Depends on who you are, who you know and who you work for. :03:

[Onkel Neal]

Not really. Depends on who you are, who you know and who you work for. :03:

Yeah? Is that for death, or taxes?

[Thomen]

Yeah? Is that for death, or taxes?

Errm.. my bad. I meant taxes. :D
But death might be arguable too, depending on your believes. :hmmm:

Which reminds me on a bumber sticker I saw:
"Jesus saves, but Buddha makes incremental backups!"

http://bumperstickers.cafepress.com/item/jesus-saves-sticker-bumper/143213524

[Dowly]

Your gas prices are very low compared to ours.

You get a gallon for what, 2-3 dollars? We pay roughly an 1,30 euros for an liter! Gallon is ~3,7l, so we pay ~4,8€ (or $6,8) for a gallon.

I think what I'm reallly trying to say is, STOP WHINING! :D

[Sailor Steve]

Dowly, I'm betting our actual gas prices are about the same. The difference is all taxes.

[CastleBravo]

"Jesus saves, but Buddha makes incremental backups!"



Never heard that before. I think I like it.

It reminds me of what Sam Clemens said... I'm not sure why it reminds me, but it does.
"History doesn't repeat itself, but it does rhyme."

[Schroeder]

One could ask why a lot of those oil rich countries are investing into technology companies like mad recently. Odd thing to do if you know that you have oil for the next centuries to come. :hmm2:

[CastleBravo]

One could ask why a lot of those oil rich countries are investing into technology companies like mad recently. Odd thing to do if you know that you have oil for the next centuries to come. :hmm2:

The US is a oil rich country and has invested in technology. More to the point private industry has invested in technology.

[Shearwater]

Oil won't run out that soon. It just becomes less and less profitable to exploit. Climate change also has its share in promoting renewable sources of energy, and that's not a bad idea. Oil countries (finally) do the sensible thing - they reinvest the capital earned by decades of oil exportation.
Apart from that, I would be careful when it comes to a new economy crisis due to energy shortages. You can never tell. I have the habit of keeping my old copies of Spiegel (German news magazine). Just recently I read an article of a 2007 issue concerning the predicted rise in oil prices. They were really far off the mark since nobody had predicted the recent financial crisis. Just keep a cool head.

[FIREWALL]

Two Big US enities are scared crapless of Hydrogen being the next fuel of choice.

[Mush Martin]

My two cents worth ........ Crisis what crisis?

the entire global economy is based on maintaining
the illusion of shortage, if we all suddenly realized
that there's an entire planets worth of stuff here
(gold oil methane food whatever) there would not
be any need for hype, as it would only make the
govt/corp/bank/university look silly. the only thing
that makes it work is we remain convinced by the
mornings headline instead of what we see under our
feet and outside our doors.

perspective .... you can put every human on earth on Vancouver island
and give them two sqaure meters and still have room left over the
Chinese included.

but they arent trying to convince us the enlightened individual. they are just are trying to convince the easily swayed masses, who willingly repeat
what they hear regardless of the facts.
(everyone thinks they are smart thats where it all goes wrong)
M

[AVGWarhawk]

That is my point Mush:up: Speculation at it's worse. They are speculating about oil running out. How can they know for sure? Furthermore, they say the pumps are at capacity. Ok, construct some new pumps. It is a game. Create a false positive and jack the price. Not but a few months ago they said the consumption twindles and they stopped pumping out as many barrels. Then they wanted to set the price around $70.00/barrel. What was the change of heart this time? Really, two months ago it was to much and now it is not enough. Who is pulling our dorks?