Peak oil, year in review

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Good article here.. Peak oil is coming soon to a neighborhood near you..

http://www.fcnp.com/614/peakoil.htm

During the past year, a pair of internal company documents were leaked in Mexico and Kuwait . The Mexican document suggests that production from the giant Cantarell oil field from which the US imports 1.6 million barrels a day is about to collapse catastrophically. In the case of Kuwait , the leaked study claims that the country's oil reserves may only be 25 to 50 percent of the official number. In the meantime, Kuwait has announced that production from their giant Burgan oil field has started to decline.

The status of Saudi oil production, which many believe to be the key to any further growth in world oil production, remains a well-guarded state secret. Here too, however, there are tantalizing hints of trouble ahead. Riyadh continues optimistic claims about future production capabilities and has embarked on major new onshore and offshore drilling projects, paying top dollar to lease the required equipment. For most of the last year, Saudi oil production has been steady at 9.5 million barrels a day at a time when world oil prices and presumably demand has increased. Recently a firm of "tanker trackers" announced that it looked to them as if Saudi production had dropped to around 9.1 million barrels a day in April and May. The number for April has been confirmed by the Saudis who claims they simply can't find buyers for their oil.

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1. But Chavez maybe sitting on a gold mine.

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2. What if..

Chavez decides to quit EXPORTING oil to the USA??

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3. That would be a good thing.

If America finally gets to some form of energy independence the bottom falls through the floor for the oil markets.

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4. "energy independence" is a pipedream

I wish I had a dime for every person that believes the US could ever become energy independent!! Not going to happen in our lifetime..

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5. Define "our". I'm 17, it will happen in my lifetime.

I'm not convinced that it will be beneficial to humanity, though it will be beneficial to this planet as a whole.

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6. Not in your lifetime

and not in my lifetime and I'm 51. The term energy independence is nothing more than a political slogan. It is rather meaningless if you look at the current situation and how much outside energy it really takes to run America. We simply do not have any energy source available that would substitute for the amount of energy we import!! NONE!! Not going to happen..

You're 17 and I firmly believe your world, within the next decade or two, is going to radically change because of oil or the lack there of!! Peak oil will happen. Nothing is going to change that fact..

Do you accept the notion of peak oil??

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7. You may be right however if....

we had a leader that called for energy independence and backed it up with action we'd be much safer.

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8. What does "energy independence" mean to you??

Perhaps if you defined what you mean by energy independence and put some thought into just how much oil we USE AND NEED from foreign sources, you'd see that "energy independence" really is meaningless..