Peak Oil crises coming 2010, $5 gas

[pgs]

Peak oil was a scam to sell stocks in Canadian oil companies.

The theory relies on technology never advancing. As long as discovery/recovery science remains constant the idea that all the giant fields have been found makes sense to people who want to believe it.

But as science advances more and more of the earth is made available for exploration and they find more oil. Increasing drilling depths by a single foot underwater makes millions of acres of previously unexplored ocean floor available.

Also recovery technology is improving. Things like directional drilling and slotted completions and of course fracking have unleashed billions of previously unreachable reserves.

Peak oil is a scam and always was and anyone who was even vaguely familiar with the oil industry knew it.

Which is why we won’t be seeing a shift to electric vehicles any time soon . Sorry to ruin your day .

 

[petros]

It's moonbat doomsday theorists who came up with peak oil.

 

[Walter]

It's moonbat doomsday theorists who came up with peak oil.

Just another bunch of progs.

 

[Murphy]

All my cars have been electric.

I use a gas powered engine for the alternator. It charges the battery to power the radio, lights, etc.

 

[darkbeaver]

Consecutive days without sunlight will happen you know.

 

[darkbeaver]

It's moonbat doomsday theorists who came up with peak oil.

The science has improved since then, that peak oil thing was back in the dark age, 1975 or sumthing.