Alaska's untapped oil reserves...

[Ardent Listener]

Alaska's untapped oil reserves...

(CNN) -- The U.S. Geological Survey says a revised estimate for the amount of conventional, undiscovered oil in the National Petroleum Reserve in Alaska is a fraction of a previous estimate.
The group estimates about 896 million barrels of such oil are in the reserve, about 90 percent less than a 2002 estimate of 10.6 billion barrels.

[Redneck]

...

[rickygee]

It's a hoax. The oil is there. The oil is back in Pennsylvania too. Peak oil is energy's global warming.

[didou]

They lie to us ? It must be a mistake, people aren't that bad

[AGCoinHunter]

I guess in some ways using up the rest of the earths oil before we use ours is a good thing. Just think, in 100 years the middle east and asia will no longer have oil and we will.

[Redneck]

...

[IdahoCopper]

I've read that oil may be comet residue from when the Earth was formed.

[didou]

I've read that oil may be comet residue from when the Earth was formed.

Only if you believe oil is from dead dinosaurs and vegetation, therefore finite.

What if it is primordial ooze that the earth manufactures from deep within...?

While i believe the dinosaurs and vegetation theory, it doesn't matter where it came from.

We used to find oil with a hammer and a pipe, now we have to get it from deep ocean and from sand. It's getting harder to get, price get up. They don't do that because they like the challenge, they can't get oil otherwise.

Considering that we consume a enormous amount of oil eat day, for fertilizer, metal, food, plastic, tire, delivery from everywhere on the earth. We cannot continue to consume oil at this rate while it's getting harder and more costly to get out of the ground. Price of everything increase because each item you may have have needed energy in the form of oil to produce.

That's why we are all investing in metal here. If the price of energy(oil) get up it would be impossible to manufacture tools to get the ore off the ground and to run these engine. There is no way to do that with solar or nuclear power. At least if we can, tools aren't ready and will take a generation to build and research. We don't use these because they aren't as efficient and cheap as oil.

I believe is the root underlying cause of the current economics crisis. All the benefit of having almost free energy will be gone soon. Oil is free now, with 1 hours of work you can buy a lot of gas that will allow you to run engine that otherwise would have required thousand of hours of work to do. This energy multiplier will be gone.

We won't be able to afford all the luxury it has gave us until now. Food and spice from others country every day, water when you open the faucet, most of the population that aren't farmer.

We will have to go back on the days where most of the population we're farmer, we can't afford that most of us doing anything else without all that energy.

This crisis is going to end the day most of us will have convert to farming our own food because we can't afford otherwise or most people on earth will have die from a war. That day the true price of copper, nickel, silver and gold will be reveal.

Peak oil is real, we have reach it a few years ago, and we just started to suffer from the consequence of the physical limitation of the oil on earth, called peak oil.

[Redneck]

...

[didou]

I respectfully disagree.

Ok can you explain ?

The peak is true and i don't think we can argue with that. It happen with every mining too, it's a physical limitation, at point in time where, for example, most of the copper have been mined from a mine and isn't possible anymore to get it in larger quantity. Simply put it's the facts that we have extract 50% of the easiest to mine copper in the ground at this place and isn't possible to extract again 50% at the same rate we did for the first half. At this point in time if it was the only mine of copper in the world, price would go to the roof, because isn't possible to get more than we have already got and it's harder to mine it because the easiest copper ore was mined first.

It's hold true for oil too. I don't think it's possible otherwise. We can argue that if it has happen in the past, it's happening now or will happen in the future, but i can't see how we can argue if it will happen or not. Fuel get out of the ground burned and one day the're won't be any. If it hasn't happen already, it will in the future even if it's in a millions years.

If the peak oil isn't true how can you explain this ?
http://upload.wikimedia.org/wikipedia/commons/thumb/8/87/Oil_Prices_1861_2007.svg/1000px-Oil_Prices_1861_2007.svg.png

And this ?
http://upload.wikimedia.org/wikipedia/commons/f/f2/PU200611_Fig1.png
Most analyst show the peak oil around 2005-2006.

And how do you explain that we have now to go into deep ocean to get oil and dig and extract the oil from the sand of Alberta, Canada to get oil ? I don't think the oil company does that because it's fun to have a challenge. They have no choice. Peak oil has been reach and all the remaining oil on earth is way harder to get that anything we ever saw (all the easy to extract petrol have been extracted already).

[MO-SILVER!]

I didn't know that it was a debate over, "what oil is".... Like gold, silver, copper, nickle, lead and water there is a certain amount on Earth and when we burn it all up, its gone. (I'm sure there is somewhere in the world a younger bog or buried mass of carbon is cooking another batch of oil, but that could be 1,000s or 10s of 1000s of years away from being ready to be refined and put in a car) I'm not going to speculate whether we're at the peak, but I really do think "renewable" is a good thing to associated with energy and the sooner it is the better for many MANY reasons.

[Redneck]

...

[didou]

Of course i believe government and oil company lies to protect their own interests. But i believe they succeed, mass media don't talk about the economical crisis or peak oil, most people i meet each day seem completely unaware of it and act like it doesn't exist. They do have lies and mass population control is working very well.

But how can you explain the simultaneous crash of Europe, China, Japan, Canada and USA at the same time ? The whole planet have screw thing in a very significantly way all at once ? The only place in the world where unemployment haven't rise a lot is in Africa because there still a significant portions of them farmer and not relying heavily on petroleum products (import). How can you explain that ?

How can you explain that the gold price have increase by 400% since late 2005 (the exact date of peak oil) and not 2008 the pretend start of the economical crisis ? I believe it has start increasing exactly at the peak oil, because some people know what's going on and have buy gold in large amount, creating the increase of price. Economical crisis talk only arrive later in mass media, I do believe government have successfully lie to protect their wealthy friends. A very large majority of people currently don't own gold or selling it as we speak.

I believe oil company lies, but how can a large amount of analyst company have arrived at the same conclusion independently that the peak oil have happen in late 2005 ? They all have screw up or lie the exact same way ?

I believe it's late in the game now, most of it have been played. Most people are doom, wealthy people have win. Doesn't mean we can't understand what's going on, how they have tricked us and still get of small bit of metal that will be more than enough to be relatively wealthy.

I do believe in conspiracy, lies and data manipulation. And i've done a fair amount of research on that subject. But i also believe it's don't get more complicated than that, simple is usually right. We have gone from a mainly farmer society in the start of 1900 to mainly a no farmer at all society in 2010 at the exact same time petrol engine have appear in the society. We are a energy society and without it we are very close to being some cave man. I also believe we are experiencing the reverse, without the oil energy multiplier to provide all the wealth we have we are going to go back to a farmer society very fast or die.

If the peak oil hasn't happen in late 2005, what are the root cause of the current economical crisis that hit every single country that rely heavily on petroleum products ? China and USA have made a secret pack to crash the whole world ? And Canada, Europe and Japan are participating ? Explain to me how it can make sense if you know it.