Penners
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Has anyone ever done a holistic costing on it?
Just like global warming then. :roll:biffvernon said:But you don't care because you will be long dead before all the bills are paid.
biffvernon said:For the last 70 years we have been on the upslope of the oil production curve, unconstrained by geology. This has allowed all energy costs to fall in real terms. But that is no guide to the future.
Conventional crude oil reached its maximum production in May 2005 and the peak of all liquid oils was in July 2006 at 86.13 million barrels per day. It is just possible that this peak may be slightly beaten in a couple of years with new oil fields coming on stream but with the rapid decline of several of the worlds largest mature fields this is looking increasingly unlikely. We are on a plateau and will soon be experiencing the oil depletion curve. That will be a very different world. With oil at double or treble today's price, the relative cost of pv and other sustainable electricity sources will look much more favourable.
Schemes to harvest Saharan sunshine by 2050 may appear fanciful. Technically realistic, they depend on a world economy capable of large investment surviving that long.
NT said:And all based on a simple misundertanding of oil reserve data. Have you ever wondered why the oil companies dont share these concerns?
http://europe.theoildrum.com/node/2981The former non-executive chairman of Shell UK will issue a stark warning about the world's oil supply at a conference in Ireland later this week. Lord Oxburgh expects that global oil demand will outstrip supply within twenty years as production hits plateau, and that the oil price could hit $150 in the long term. He accuses some in the industry of having their heads "almost in the sand" about oil depletion, and concludes "we may be sleepwalking into a problem which is actually going to be very serious and it may be too late to do anything about it by the time we are fully aware".
biffvernon said:NT said:And all based on a simple misundertanding of oil reserve data. Have you ever wondered why the oil companies dont share these concerns?
http://europe.theoildrum.com/node/2981The former non-executive chairman of Shell UK will issue a stark warning about the world's oil supply at a conference in Ireland later this week. Lord Oxburgh expects that global oil demand will outstrip supply within twenty years as production hits plateau, and that the oil price could hit $150 in the long term. He accuses some in the industry of having their heads "almost in the sand" about oil depletion, and concludes "we may be sleepwalking into a problem which is actually going to be very serious and it may be too late to do anything about it by the time we are fully aware".
It's difficult for oil executives to say "we're running out of oil" until they become ex-employees, as such words might be taken as not in the best interest of shareholders.
Thierry Desmarest chief executive of the French Total has been pretty outspoken in his warnings of peak oil recently and last week John Hofmeister, President of Shell Oil, Houston said, “We have seen our country pass, in my opinion, a tipping point of energy supply keeping up with demand”.