bodge wrote:Very good but as they havent started emptying them how do you know they are not going to slowly fill up again. Dont knock it till you know it.
I'm not saying they don't. It's a fact that some do, even if only because of migration from nearby reservoirs.
"The idea that oil production is soon to peak needs to be dispelled. This view is recognised by a wide variety of respected oil industry sources."
p_devlin wrote:Dogma of synthetic scarcity is promoted.
- Keynote Speech by Mr. Mohammed Barkindo, Acting for the OPEC Secretary General, to "Nigeria Oil & Gas 2006", Abuja, Nigeria, 3-5 April 2006
The oil industry
don't want you to believe in peak oil and have publicly spoken against it. They don't want you looking for alternatives, so promoting the idea of oncoming scarcity is counter-productive for them.
bodge wrote:He has not worked out why people fight over it. When the rest of the world wakes up to the fact its NOT as scarce a resource as they are led to believe it is then the "value" will drop through the floor and my goodness that will affect "profit" and they murder people to protect that.
See above. OPEC will tell you it's not scarce and there's no danger of a peak any time soon. Last time I checked oil prices were about double what they were when that speech was made. Try going down to your local Esso garage and tell them you're only paying 10p a litre because their boss doesn't think peak oil is real.
What I believe is a fairly important point that a lot of people are missing is that even if oil is essentially an infinite, renewable resource
we appear to be pumping it out at a rate faster than reserves are being replenished. And over the next few decades, literally billions
of people in developing nations are going to want to take to the roads, so demand is only going to increase in the foreseeable future.
People in this country aren't going to stop driving to work or for leisure, delivering goods or using agricultural machinery and they'll continue to pay as much as it costs until it is uneconomical to do so. Shit, two thirds of the cost of petrol in this country is tax anyway, if the petrol itself was free you'd still be paying more than a pound a litre to cover the fuel duty, VAT and costs of distributing and selling it.
In short, the price of oil isn't going to drop significantly if we find out it's not scarce."Everything is worth what its purchaser will pay for it."
- Publilius Syrus