Oil Vey! - Peak Oil in the News

[NeoGreen]

Read this...

http://www.thebulletin.org/print.php?art_ofn=mj05cavallo

and this for background...

http://www.thebulletin.org/article.php?art_ofn=jf04cavallo

May/June 2005 Excerpt:

"Without any press conferences, grand announcements, or hyperbolic advertising campaigns, the Exxon Mobil Corporation, one of the world's largest publicly owned petroleum companies, has quietly joined the ranks of those who are predicting an impending plateau in non-OPEC oil production. Their report, The Outlook for Energy: A 2030 View, forecasts a peak in just five years.

In the past, many who expressed such concerns were dismissed as eager catastrophists, peddling the latest Malthusian prophecy of the impending collapse of fossil-fueled civilization. Their reliance on private oil-reserve data that is unverifiable by other analysts, and their use of models that ignore political and economic factors, have led to frequent erroneous pronouncements. They were countered by the extreme optimists, who believed that we would never need to think about such problems and that the markets would take care of everything. Up to now, those who worried about limited petroleum supplies have been at best ignored, and at worst openly ridiculed."

[justinsb]

1. Yep, glad to see Exxon has owned up

people can stop realistically expecting energy/gas prices to do anything but steadily climb.

[endarkenment]

2. market recognition of the peak is the peak

five years hence is now.

[pstans]

3. Now if they'd just put words into action

and start investing heavily in Renewable Energy like Wind and Solar. I think in areas suitable for Solar energy, all new buildings should be required to have a solar panel installed.

[Raster]

4. just cause exxon has owned up to peak oil, doesn't mean they aren't

gonna try to squeeze the last drop. meaning the exxon white house won't put a dime as long into alternative energy as long as the texas, white-boy, petroleum mafia can still turn a profit.

NATIONALIZE ALL OIL COMPANIES NOW!!!

[Double T]

5. What You Can Not Absolutely Verify, You Can Create........

ExxonMobil and the oil market speculators will "create" a limited supply, whether it is true or not, to drive up the prices on all energy resources. This will wreck the economy around the world resulting in recessions or depressions.

[newswolf56]

6. Every time I read something like this, I think about...

...what will undoubtedly go down into history as the worst and most ruinous betrayal ever inflicted by a people's leaders: the moronic refusal of our politicians -- fueled entirely by their obscene greed to share in oil profits -- to build adequate public transport. Mark my word: this refusal, ongoing even now, will be the downfall of the United States -- the total destruction of its economy, a combination of spiraling unemployment and runaway inflation on a scale never before experienced by ANY nation, the collapse of the currency itself, and finally the complete unraveling of the U.S. political system as the public begins to understand the inescapable magnitude of the betrayal and take vengeance on its perpetrators. (I had thought that, because of my age, I probably would not be around to witness this terminal convulsion of the American Dream. But now I'm beginning to suspect I will -- and the prospect frankly terrifies me.)

[enough]

8. You said it. (nt)

[pstans]

7. If your intetersted in Peak Oil check out DU's book club for July

The Long Emergency by James Howard Kunstler is the Book for DU's Book Club for July.

http://search.barnesandnoble.com/booksearch/isbnInquiry.asp?userid=Rf4xNjiBbH&isbn=0871138883&itm=1

Check out the Books: Non-fiction forum to participate.
Here is a link to the thread:
http://www.democraticunderground.com/discuss/duboard.php?az=show_topics&forum=209