Peak Oil by 2014... says Kuwait

[Emit]

Peak Oil by 2014... says Kuwait
by Devilstower
Fri Mar 19, 2010 at 07:00:03 AM PDT

Sure, there have been enough warnings that we are near peak production of oil from various agencies and groups that one more only acts as confirmation, but when the prediction is made by the Kuwait Oil Company it should come with a little extra street cred.

The scientists from Kuwait University and the Kuwait Oil Company adopted a newer approach by including many Hubbert production cycles, or bell-shaped curves showing the rise and fall of a non-recyclable resource. Earlier models typically assumed just one production cycle, despite the fact that most oil-producing nations have historically experienced more of a roller coaster ride in production.

Such production cycles reflect the influence of new technological innovations in the oil industry, government regulations, economic conditions and political events. The factors include the discovery of new oil deposits, the recent economic recession and the rise of renewable energy.

Take Mexico as just one example. The nation that has long represented a top oil exporter has experienced plummeting oil production and might even begin importing oil within the decade...

Some oil companies and consultancy firms such as Cambridge Energy Research Associates have speculated that oil will peak sometime after 2020, but a number of oil geologists and executives predict it will happen much sooner.

http://www.dailykos.com/storyonly/2010/3/19/847508/-Peak-Oil-by-2014...-says-Kuwait

[Romulox]

1. "Toyota says drivers dumb; a few deaths no big deal. Kuwait says gimme more money for my oil!"

Our media says: parotting press releases released by people who have a profit motive is similar to investigative journalism...

[NeedleCast]

2. An article posted a day or two ago claimed peak oil in 2012

Both can't be right.

But both can be wrong...

[louis-t]

3. I thought the world was gunna end in Dec. 2012?

Oh, by the way, speculators will now drive up the price of oil with this 'news' in 5..4..3..2..1.

[Andy823]

4. You got that right!

Countries that have oil want more for it, and they have used the so called "peak oil" ploy numerous times over the years to justify jacking up the prices. Yes, speculators are the biggest problem I see. They want to buy low, then jack up the price and sell high. Then when the prices go back down they do it all over again! Energy and food should not be trade on the open markets, it's insane! The assholes that have the big money know we all need food and energy, and like with the Enron scandal, they know they can manipulate the prices for their own gains and we, the public, will have to pay whatever price the set! We need some serious regulations on the people who cause the problems so they can gain financially while the world suffers! Sadly those with the money have also bought and paid for the votes in congress that will support their greed, and that's where we have to make the changes by voting those who are bought by the corporations out of office! Put term limits on those who get elected so they can't keep coming back and voting for those who bought them, and make all national elections public financed so the big money can't get involved. The only problem is the same people we need to vote for these things are the ones we need to get rid of, and they won't vote to cut their purse strings from big business!

[FarCenter]

5. Good news! This will certainly limit global warming.

[taterguy]

6. The fires as civilization collapses will be plenty warm