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Tuesday, 1 March 2011
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Just to remind some of the doom mongers out there. Just watch the vid below. We are nowhere near peak oil, or anything approaching it.
It does indeed explain it simply. Here is another simple explanation. I once worked in BP. They indulged in 3 forecasts, an annual, a 5-annual and a 25-annual. Obviously, our budgets had to fit in with the annual, which was OK, we could handle that, but at my pay level, the 5-annual was pretty inscrutable, and to all of us the 25-annual was something else. What happened with the latter was that it was BP policy to try and ensure that they had sufficient reserves for 25 years, which was reasonable for a company such as BP. The government used BP's (and Shell's etc) figures for their own forecasts, which is why we always had just enough oil for the next 25 years. Brgds Peter Melia
English Viking. I might add that I do a lot of research into what I blog about. Bye the way, when are you going to post on your blog? Can I then comment there? If you are so adamant about your facts, please post on your blog, and don't pontificate on mine.
Excellent - so simple isn't it?
ReplyDeleteNecessity... is the mother...
ReplyDeleteIt does indeed explain it simply.
ReplyDeleteHere is another simple explanation.
I once worked in BP. They indulged in 3 forecasts, an annual, a 5-annual and a 25-annual.
Obviously, our budgets had to fit in with the annual, which was OK, we could handle that, but at my pay level, the 5-annual was pretty inscrutable, and to all of us the 25-annual was something else.
What happened with the latter was that it was BP policy to try and ensure that they had sufficient reserves for 25 years, which was reasonable for a company such as BP.
The government used BP's (and Shell's etc) figures for their own forecasts, which is why we always had just enough oil for the next 25 years.
Brgds
Peter Melia
Oh yeah, I see all so clearly now.
ReplyDeleteOil is a never-ending resource.
FAIL.
What the video blogged does prove is that the cost of oil, generally speaking, has only ever increased.
What will happen is that the cost of oil will increase exponentially, as it decreases in quantity.
In lay-mans terms: petrol/diesel/gas/oil will only be available to the rich in the future.
Really FE, think a bit more.
Yet another eco myth nailed.
ReplyDeleteThe only thing that we all seem to be truly running out of is the truth.
I agree with E.V.
ReplyDeleteNOTHING will ever run out. It will just become too expensive to buy.
EV, what is your take on Shale Oil?
ReplyDeletePM
Yes it does become expensive in the short term. However North sea oil extraction was expensive in the early days until the technology caught up.
ReplyDeleteShale oil extraction, when the bugs are ironed out, will drive down the price of oil. And we won't be beholden to the Opec Cartel.
English Viking. I might add that I do a lot of research into what I blog about. Bye the way, when are you going to post on your blog? Can I then comment there? If you are so adamant about your facts, please post on your blog, and don't pontificate on mine.
ReplyDeleteF.E.
ReplyDeletePoint taken, you'll not see me again.
Didn't realise other opinions were not wanted.