Skydiving and world oil prices

[Mr.g 0]

Check out this link:

http://www.princeton.edu/hubbert/current-events.html

And this one:

http://www.eia.doe.gov/emeu/cabs/chron.html

Basically it seems that we have hit the peak oil production and that demand for oil now far exceeds production.

I am no economist but I think it basically means that:
- The yanks will bomb more oil producing countries
- Jump prices will go up

Better lean to base jump.

Respect my authoritah!

[larsrulz 0]

The problem with the sited article is we aren't at a peak oil stage. Ask anyone with actual knowledge of the oil industry and they will confirm this. While we have reached the point where our production exceeds our increase in proven reserves (and oil companies are putting a lot of money into exploration, as production is obviously going so well, so the reduction of proven reserves will not be as serious in the next 3-5 years as it has been recently), but that is far different than peak oil. We still have well over 50 years of oil at our current pace (even horribly conservative estimates put this at 25 years). Of course no one believes that an oil economy will last forever, but that is far different than what many academics believe, such as the one sited. Essentially our current problem is our lack of refinability, which fortunately for us living in a capitalistic society, will soon be fixed, because the fields are having no problems in terms of production.

Check this out if you want an accurate article on the state of the oil industry, although they still have a very conservative view of the future of oilfield technology with respect to recovery factor, which over the past few years the improvement has been huge, just look at the brownfield (30+ year old wells) technology in the past two years.

I got a strong urge to fly, but I got no where to fly to. -PF

[bazelos 0]

Any engineers here wanna try and build a 15000ft antena?

He who makes a beast of himself gets rid of the pain of being a man.

[rsibbald 0]

15000ft antenna? That'd better have a lift (elevator)....

[PsychoBob 0]

***Better learn to base jump.

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