This is it

[Gorbachioo]

Bloomberg.com: Energy


Annual production is set to drop by 9.1 percent in the absence of additional investment, according to the draft of the agency's World Energy Outlook obtained by the newspaper, the FT reported. Even with investment, output will slide by 6.4 percent a year, it said."

With a depression right around the corner its questionable will anyone make those investments. Either way, we're fucked. Completely and utterly doomed.

Get ready for 50 years of misery. Peak oil is here.

 

[pikeh]

Glass half-full eh Gorb.

 

[Chronictank]

*cough*
*clears throat*

DOOOOOOOOOOOOOOOOOOOMMMMMMMMmm

Sorry mate, had to be done

 

[Gorbachioo]

Thats one way to put it i guess

 

[Belgerath]

*cough*
*clears throat*

DOOOOOOOOOOOOOOOOOOOMMMMMMMMmm

Sorry mate, had to be done

 

[Zede]

here we go again.

fuck off gorbo, your more repetative than grinding in WAR.

 

[Gorbachioo]

here we go again.

fuck off gorbo, your more repetative than grinding in WAR.

Id apreacite if someone came up with a reasonable argument why this wouldnt be the most catastrophic thing of this millennium?

 

[Chronictank]

Fact of the matter is oil companies have ALOT of money, if their oil is truley running dry they would put in the extra investment to get out the harder to mine deposits.
It will not be a catastrophe, but simply a limiting factor on global economic growth/a sudden rush to get renewable rescources up and running

I suspect the big players like china will already have redundancy plans ready to implement when the need arises considering the vast rescources available to them it is not too much a stretch of the imagination to see that plan taking effect very quickly

The hippies will go apeshit when they start mining the rainforests tho

 

[Belgerath]

Id apreacite if someone came up with a reasonable argument why this wouldnt be the most catastrophic thing of this millennium?

Cause the millennium isnt over yet, thus we can't judge if it is going to be the most catastropic thing of the millennium

 

[Gorbachioo]

Fact of the matter is oil companies have ALOT of money, if their oil is truley running dry they would put in the extra investment to get out the harder to mine deposits.
It will not be a catastrophe, but simply a limiting factor on global economic growth/a sudden rush to get renewable rescources up and running

I suspect the big players like china will already have redundancy plans ready to implement when the need arises considering the vast rescources available to them it is not too much a stretch of the imagination to see that plan taking effect very quickly

they are running dry:

http://www.marketwatch.com/news/story/Exxon-Mobils-profit-approaches-15/story.aspx?guid={C01C7FFA-5E49-4282-B04B-7D490ADEE01E}

but they arent investing:

Oil Exploration: Why Are Large Oil Companies Not Doing More Of It? | Scientific Blogging

(The study found that the Big Five (ExxonMobil, Royal Dutch Shell, BP, Chevron and ConocoPhillips), used 56 percent of their increasing cash flow on share repurchases and dividends, which were good for investors in the short term but put at risk the companies long-term oil reserves.

“The handwriting is on the wall. The oil majors are not replacing reserves,” said Amy Myers Jaffe, co-author of the report and the Wallace S. Wilson fellow for Energy Studies at the Baker Institute. “It’s as if they are slowly liquidating their long-term asset base. They may see a declining rate of production over time and eventually that is bad news for both their shareholders and consumers.”)

I sure hope they do have plans for this. Im just not confident that it'll help the average joe. Building that much renewable energy every year would require massive investment. Where will that money come from? Whos gonna build it? How many factories are there that make wind turbines? How many factories are there that make electric cars? How many people are there that have the proper training to run an electric car factory?

The infrastructure just isnt there.

edit: Dunno why the first link isnt working. But if you want to, then google "Exxon Mobil breaks record with $14.8 billion profit" (first item). And look for:

"Exxon added that total production fell 8% and warned that its fourth-quarter earning would be cut by about $500 million because of repairs and lower volumes. Shares of the oil giant fell 1.3% to $73.66. "

 

[CorNokZ]

Almost Joor material

 

[Amanita]

Cause the millennium isnt over yet, thus we can't judge if it is going to be the most catastropic thing of the millennium

Yep, because on the bright side we could all be eliminated by a giant asteroid.

I think that when it comes down to crunch time, people will make it work. Unfortunately folks in general seem to lack forsight to avoid crunch time.

 

[tris-]

i find it hard to read what you post a lot of the time.

youre not neutral at all, you only give points which demonstrate something negative happening.

so theres no way for me to know what the actual situation is if you only tell me one side to it.

 

[Chronictank]

They are milking the scaremongering for all its worth, i can almost garuntee to you that as soon as they start getting a hit in their profit margins as if by magic they will have more oil

 

[Gorbachioo]

They are milking the scaremongering for all its worth, i can almost garuntee to you that as soon as they start getting a hit in their profit margins as if by magic they will have more oil

So much for the reasonable arguments then. But hey, if you can almost guarantee it then i guess that means theres nothing to worry about.

False alarm guys! Nothing to worry about. Get back to your hummers.

 

[Gorbachioo]

i find it hard to read what you post a lot of the time.

youre not neutral at all, you only give points which demonstrate something negative happening.

so theres no way for me to know what the actual situation is if you only tell me one side to it.

Im not sure what exactly you mean by this? What should i be posting? Give me an example.

And btw, im not your only source of information. If im not telling you something then find out for yourself.

 

[aika]

so when do we play fallout 3 irl then?

I really cant wait

 

[Cadelin]

There are very few things we need oil for. Currently it provides energy cheaply but there are alternatives that aren't much worse.

In the long term oil prices will rise slowly. As this happens more and more other technologies will become cost effective and replace oil, thus reducing our dependence on oil.

There won't be a crunch, global oil supplies are well known and they won't suddendly run out.

 

[tris-]

Im not sure what exactly you mean by this? What should i be posting? Give me an example.

And btw, im not your only source of information. If im not telling you something then find out for yourself.

youre only portraying one side of your argument.

im assuming the reason you make these posts is you want people to accept a point youre making?

if so, you need to state arguments for it and against it, surely?

you only state information which backs up your point, so youre being 1 sided, therfore biased so following that, how can anyone accept what youre talking about?

to me, its not an argument just showing one side of the information all the time. since youre not considering anything else out there. you only give one side of inromation so i have to asume you only look for one type to base your argument on.

its more fair to say youre just trying to scare people since you only give information thats negative.

 

[old.Tohtori]

so when do we play fallout 3 irl then?

I really cant wait

Let's just wait for the "oh it's not that bad" news and watch Gorb weasel his way out again

Either way, we're fucked. Completely and utterly doomed.

Especially that. Oooh, so scared now.

 

[Chronictank]

So much for the reasonable arguments then. But hey, if you can almost guarantee it then i guess that means theres nothing to worry about.

False alarm guys! Nothing to worry about. Get back to your hummers.

you have given nothing but speculation too, do you honestly believe companies who rely on the production of energy are so short sighted they simply are going to let it run out with no alteratives?

Which sounds more ridiculous?


But hey, its more fun to be a doomsayer who by some miracle knows the future

 

[Chronictank]

damn edit timer

All you have done is said that oil production is lower, that is not the same as how much oil is left and that is most definitely not a indication the world is about to end as you like to put across

I predict a decline in economic growth as oil will keep rising in cost as companies cant keep up with the rapidly growing economies around the world.
If they had any sense there would be a rationing, you pay for the number of barrels p day you get but more than likely it will just go to whoever flashes the most money/has the most influence

Again speculation, it is not fact just like your point of view

 

[Bugz]

Err Gorb - no-one in their right mind will invest during the beginning of a recession.

 

[Zede]

Get the fuck out of my thread you bitter jew hating little wanker?


Id apreacite if someone came up with a reasonable argument why this wouldnt be the most catastrophic thing of this millennium?

I love jews, muslims, christians, jedis,hindus,pagans.

Its Zionists I hate. get it right plze.

Your a record stuck on the same bit, going over and over the same thing. Your a horse with blinkers so big you got wings. Nobody bothers with you anymore, we wont feed your ego. Quiz ! Make a sentance out of these words to describe what its like replying in a thread started by you: " a against head wall brick banging your "

 

[Gorbachioo]

Err Gorb - no-one in their right mind will invest during the beginning of a recession.

Yes..... Thats... sort of what im saying here? I said that its possible someone might, but not likely.

 

[Gorbachioo]

you have given nothing but speculation too, do you honestly believe companies who rely on the production of energy are so short sighted they simply are going to let it run out with no alteratives?

Which sounds more ridiculous?


But hey, its more fun to be a doomsayer who by some miracle knows the future

You would think that they wouldnt do such a thing, but so far they have been doing exactly that. The oil companies are not investing in alternative energy and they arent investing in exploration. Which to me means that they rather throw in the towel. If you can come up with a better explanation then i'll gladly hear it. And im not saying thats necessarily the case. Just that i cant think of a better reason.

 

[Gorbachioo]

There are very few things we need oil for. Currently it provides energy cheaply but there are alternatives that aren't much worse.

In the long term oil prices will rise slowly. As this happens more and more other technologies will become cost effective and replace oil, thus reducing our dependence on oil.

There won't be a crunch, global oil supplies are well known and they won't suddendly run out.

You obviously have no idea what you're talking about.

The only thing that was partly correct in what you posted was the middle paragraph. Only that the rise in prices wont be that slow. Not if the decline rate truly is 9%.

As i already pointed out, replacing oil means replacing every car with an electric one and building countless wind turbiness/nuclear power plants. The infrastructure to do such a thing just isnt there. And we have to take the coming depression in consideration aswell.

 

[Lamp]

According to Chris Hayes of Cambrian Group (an oil and gas consultancy who's engineers help the industry's main players find reserves) there is enough oil in the earth to last for another 90 years.

20 or 30 years ago, firms were only able to drill for oil in shallow waters. Today we can drill deep

The oil will not run out in our time, or perhaps not even in our grand-children's time.

 

[Gorbachioo]

youre only portraying one side of your argument.

im assuming the reason you make these posts is you want people to accept a point youre making?

if so, you need to state arguments for it and against it, surely?

you only state information which backs up your point, so youre being 1 sided, therfore biased so following that, how can anyone accept what youre talking about?

to me, its not an argument just showing one side of the information all the time. since youre not considering anything else out there. you only give one side of inromation so i have to asume you only look for one type to base your argument on.

its more fair to say youre just trying to scare people since you only give information thats negative.

Give me an example of what you want me to say.

 

[Gorbachioo]

According to Chris Hayes of Cambrian Group (an oil and gas consultancy who's engineers help the industry's main players find reserves) there is enough oil in the earth to last for another 90 years.

20 or 30 years ago, firms were only able to drill for oil in shallow waters. Today we can drill deep

The oil will not run out in our time, or perhaps not even in our grand-children's time.

I guess Chris Hayes knows better than the IEA.

You know what i think? Chris Hayes is just trying to hold on to his job.


Incase i didnt explain myself well enough i'll try again: I dont know whether we'll survive peak oil or not. I just dont have enough information. But i do know that the biggest depression since 1929 combined with a 6-9% decline WILL cause MASSIVE problems and if you dont acknowledge that then you're just dumb. There is NO WAY we'll have 9 or even 6% more of electric cars/energy production in a year. No way. We're heading for a crisis. What happens after that i dont know.