Peak Oil

Several old threads were recently resurrected and for ease of reading, I have collected the posts relating to Peak Oil and future energy use into one thread.

Posted By:Agatha

Peak oil is not a theory but a fact because oil is a finite resource, and most oil is too expensive to access because of gravity and other factors.

The use of unconventional production does not discredit peak oil but actually proves it. Otherwise, conventional production would be rising significantly to meet demand.

Another effect of peak oil includes high prices, costs, and capital expenditures. That's why shale oil became accessible only because prices went up. That's also why rig counts are dropping when prices fell. Meanwhile, more money is being spent in exchange for lower increases in oil production.

Finally, if one compares the annual increase in oil demand the past three decades with the additional production from shale oil, then there's no boom. After that, unconventional production has to make up for both increasing demand and a drop in conventional production.

via International Skeptics Forum http://ift.tt/1JnustX