Monday, February 15, 2010

Peak Oil Theory


July 23, 2016: if you scroll down through American West at Risk, one can find any number of references to "Peak Oil." Humorous. With the paucity of blogging at that blog, it appears they ran out of contributors and contributions before we ran out of oil.
Original Post

The Oil Drum is calling it quits. This particular article will be interesting to look at in five, ten, and twenty years.  Figure 13 is particularly fascinating.  -- posted July 22, 2013

This is an interesting article posted earlier this year, 2012: The Myth of Peak Oil: The Real Problem is Not Too Little Oil, But Too Much.
Whether one agrees with the conclusions of the author, the article is full of interesting data and observations. [From an environmentalist's view, the author says their is too much oil. If we were running out of oil, there would be increased efforts to use less, thus producing less carbon.]

One interesting data point from the linked article:
However, by 2006 the Department of Energy estimated that domestic oil resources still in the ground (in-place) total 1,124 billion barrels.  Of this large in-place resource, 400 billon barrels is estimated to be technically recoverable with current technology.
This estimate was produced before horizontal drilling and hydraulic fracturing or fracking techniques were widely adopted which most authorities believe will yield considerably more oil than was thought to be recoverable in 2006.
The End of Oil's Golden Era, Seeking Alpha, October 25, 2010.

Peak oil: There is No "Plan B" for Oil, Seeking Alpha, October 14, 2010.

Huge increase in Russian production; as a reminder, Russia took over the lead in oil production from Saudi Arabia earlier this decade. I had forgotten that. September 15, 2010.

What peak oil theory? It's back. Forbes, September 14, 2010.

What peak oil theory? And this is just federal landForbes, February 15, 2010.

Peak Oil Overview, Oil Drum, March, 2008.

World Oil Production, Oil Drum, December 20, 2010.

There's Something Funny About Them Gasoline Prices -- Mike Nesmith


  1. The entire world uses, consumes, over eighty-five million barrels of oil per day. Times 365 is approximately 29 billion barrels per year worldwide gone, never to return. With a 2.9 trillion barrels in the ground and recoverable, it will take about 100 years for it to be depleted to zero recoverable. Eventually, it will be gone. Nothing lasts forever.