Peak Oil

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[edit] This article may be more aptly titled: "Fear of Peak Oil". Eve...

Suggestion by Tim Plaehn on 2008-03-25 17:17:24

This article may be more aptly titled: "Fear of Peak Oil". Even the chart presented show oil production still growing, although at a slower rate. One sentence: "While it is accepted that we will not make any new oil discoveries" has been disproven recently off the coast of Brazil. I do not discount the fact that Peak Oil may be here. I think the issue is still two sided, and this article should be a little more balanced. Also, if we have reached Peak Oil is that a bullish or bearish sign for investors. I tend to think of the possibility of having reached the peak as a overall bearish event.

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[edit] This article incorrectly addresses the significance of the timing of the...

Suggestion by 80.126.48.79 on 2007-11-23 18:48:14

This article incorrectly addresses the significance of the timing of the oil extraction peak, something that is widely misunderstood. The extraction peak is not best though of as a moment or a point in time but rather as a broad plateau during which extraction levels off over a period of several years and then begins to decline, while prices rise over a period of several years, and all the economic and social consequences of high oil prices become increasingly noticeable. WE ARE ALREADY AT THE EXTRACTION PLATEAU, and it is therefore pointless to spend time speculating about when the "peak" will actually come, or whether we are already at it or past it. Expensive oil is already causing supermarket prices to spiral up, is already causing hardship in third world countries where farmers are no longer able to afford the fuel cost involved in bringing their crops to market; the US is already engaged in a suicidally expensive occupation of Iraq in a possibly futile attempt to safeguard a supply of Middle Eastern oil, etc etc etc. This article would benefit greatly from a broader discussion of the many consequences of crude oil that is scarcer, of lower quality, harder to extract and transport and refine -- and trim out most of the pointless speculation on the timing of the "actual peak". PRW Hollier Amsterdam NL piper@xs4all.nl

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