Is the oil beginning to run out? Shot over 4 years in 13 countries this film uncovers the myths surrounding the future of world oil supplies. Filmmaker, Andrew Evans lifts the lid on the so called Peak Oil theory, whether oil production is about to fall. He travels to the Middle East to find out how much oil they really have, exposing evidence that they may be exaggerating by up to 50%.
Buy the DVD at www.petroapocalypsenow.com
Duration : 0:4:17
Is not money we are running out of, it’s energy.
Banks can not print energy.
Once it takes you more than one unit of energy to produce goods and services to buy one unit of energy that’s it. You’ve run out of gas forever!
Although economists are trained to treat energy just like any other resource when it comes to “supply and demand”, it is manifestly not like any other resource. Net energy is the pre-condition for all other resources. The coming peak in global oil production signals the end of the consumer economy because nothing can replace conventional oil.
"Energy" is defined as the capacity of a physical system to do work. Over a hundred years ago, scientists pointed out that energy – not money – is the true source of the capitalist’s wealth
http://dieoff.org/page175.htm
Energy companies are in business to make money – not energy. For example, economic subsidies allow ethanol companies to waste energy while making a profit. Specifically, about 71% more energy is used to produce a gallon of ethanol than the energy contained in a gallon of ethanol.
From the standpoint of achieving society’s goal of a long-term solution to our energy problems, profit is simply the wrong objective for energy companies. Even without direct and indirect subsidies of $650 billion a year it’s conceivable that energy companies could make money – but lose energy – by burning one $10-barrel of oil today in order to pump one-half of a $50-barrel tomorrow. The price of oil is expected to rise sharply – and permanently – when global oil production peaks in less than ten years.Written in 1999.
I think the evidence shows we have already passed the world’s peak production of oil based energy. If it were not for the problem of global warming, we could switch to coal. Nuclear in any of its forms or Solar power satellites could produce sufficient energy to drive the consumer economy too until we reach the point we are releasing more energy into the earth’s system than it can radiate into space, again driving warming.Of course, we may have reached that point already also. Basically, the place is filling up…
Antonia Juhasz, associate fellow with the Institute for Policy Studies, a fellow with Oil Change International, and a senior analyst for Foreign Policy In Focus
(Nov 20, 2008 at the University of Chicago. Courtesy of CHIASMOS)
The author of The Bush Agenda: Invading the World, One Economy at a Time (2006), Juhasz has also written extensively on various aspects of globalization. Her articles and commentary on politics and policy have appeared in New York Times, International Herald Tribune, Los Angeles Times, Miami Herald, Petroleum Review Magazine, In These Times, and Washington Post, among other sources.
Duration : 1:28:45
2008
Global oil production peaks sometime between 2008 and 2018, according to a model by one Swedish physicist. Others say this turning point, known as "Hubbert’s Peak," won’t occur until after 2020. Once Hubbert’s Peak is reached, global oil production will begin an irreversible decline, possibly triggering a global recession, food shortages and conflict between nations over dwindling oil supplies. (doctoral dissertation of Frederik Robelius, University of Uppsala, Sweden; report by Robert Hirsch of the Science Applications International Corporation) –
http://www.livescience.com/environment/070419_earth_timeline.html
Scientists thirty years ago predicted that we’d be out of oil by now based on computer models. I know that oil is a finite resource, but I think some of these estimates are just motivated by political agenda rather than real evidence. I’m all for technological progress to find more efficient fuel sources, but I’m not buying into doomsday theories about oil production "triggering global recession, food shortages," and war.
Yearly until if finally destructs?
The earth, the climate the overpopulation is causing our planet to become sicker and sicker
We know Global Warming is getting worse every year affecting people with mass starvation, disease, and extreme weather conditions that bring upon death.
Mysterious viruses on the rise which spread via air-conditioning systems and the water supply, or inflammations from penicillin-resistant strains of bacteria are increasing
Peak is reached, global oil production will begin an rreversible decline, possibly triggering a global recession, food shortages
Europe United States worry that food contamination is on the rise from India and China and will be at a all time high in the next 5 years.
Do you see our planet becoming healthier without divine intervention?
You are not just a nutter, you are a paranoid nutter. "Mysterious viruses"? Are you for real?
Dear Customer,
Thank you for your recent communication expressing concern about higher
prices for gasoline and energy products.
We recognize that energy price increases have put a strain on many
household budgets. We also know that some hold the oil and gas
industry
directly responsible for these price increases and quite frankly, this
conclusion is not correct. There are several factors that are helpful
to
consider as we look at what is causing higher gasoline and energy
prices.
Crude Oil
Crude oil, the world’s foremost energy source – is a true global
commodity,
traded freely in markets worldwide. Prices for crude oil, which now
account for well over 60 percent of the price Americans pay at the
pump,
are set on competitive global markets. No single company sets the
price
for crude oil or even influences how these prices are set. Even as the
largest private energy company in the world, ExxonMobil only represents
3
percent of global oil production. We also buy nearly two times more
crude
oil than we produce, as we do not produce nearly enough crude oil to
keep
our ExxonMobil refineries and plants supplied. Also, our crude oil
supply
costs are higher partly due to the weaker value of the U.S. dollar.
Global Supply and Demand
The market forces of supply and demand are the fundamental factors that
influence crude oil prices. Growing demand for transportation fuels,
in
developing nations like China and India alone have driven demand
increases
at twice the historic average in several recent years. Americans drive
around 3 trillion miles per year, almost twice as much as we did in
1980
(1.5 trillion miles), now demanding about 400 million gallons of
gasoline a
day. On the supply side, geopolitical developments have curtailed
production and driven up prices at various points in time.
Industry Earnings in Context
In a high commodity demand/price environment, which currently exists,
industry earnings will generally rise. However, the oil and gas
industry
profits are comparable to other U.S. industries, 9.5 cents for every
dollar
of sales compared to an average of 8.2 cents for all U.S. manufacturers
in
2006. You also might find it interesting to know that 70 percent of
ExxonMobil revenues are generated outside the U.S. And, with respect
to
the price you pay at your local service station, independently owned
operators set those retail prices in competition with one another.
ExxonMobil owns and operates less than 900 of the 170,000 service
stations
in the United States; that is less than 1 percent.
Investing in Tomorrow’s Energy
In our view and probably your own as well, another important question
is
what are we doing with the money we earn? In the past twenty years, we
have invested about $280 billion worldwide on capital and exploration
expenditures to develop new energy supplies — a figure that exceeds
our
total earnings over that period.
Looking ahead, the International Energy Agency has estimated that the
oil
and gas industry will need to invest at least $20 trillion in new oil
and
gas production and infrastructure through 2030 to meet the future
growth in
global demand. Much of this projected growth in energy use is
attributable
to improving living standards for billions of people in the developing
world. Only profitable companies will be able to make the investments
needed to compete in global energy markets and to develop the energy
supplies we will need in the future.
Government Taxes
Stable and impartial tax and regulatory policies are critical to
companies
looking to invest on the scale noted above. You most likely are not
aware
that for every dollar of ExxonMobil’s revenue, on average around 25
cents
is paid to governments, while ExxonMobil earns just over a dime. In
2006,
ExxonMobil earned $39.5 billion, but paid over $100 billion in taxes
worldwide. Over the past five years (2002-2006), ExxonMobil’s U.S.
tax
bill was nearly $60 billion, exceeding our total U.S. earnings during
that
time by over $20 billion. Without question, we are one of the
world’s
biggest taxpayers and are therefore very concerned about the harmful
impacts of current proposals to impose even higher taxes on our
industry.
Our government can help meet America’s growing energy needs by
ensuring
reliable and impartial rules for all energy investments that will allow
American companies to compete internally.
Your email is important to us. We know price increases and our
company’s
earnings have raised questions and deserve explanation. While we hope
that
this response provides you with a better understanding of our company’s
challenges and of the global energy markets in which we participate, we
would encourage you to look at our web site www.exxonmobil.com as well
as
the web site of the American Petroleum Institute www.energytomorrow.org
for
more information.
At ExxonMobil, we’re committed to pricing responsibly and investing
for the
future. Please know that every day our 82,000 employees worldwide are
working extremely hard to provide energy supplies to consumers at
competitive prices.
Again, thank you for taking the time to contact us.
Not only that, but we could solve the problem of using foreign oil easily by drilling in Anwar and off the coast of the US. Reliance on petroleum to produce electricity could be virtually eliminated by building nuclear power plants. The real reason gas prices are so high??? Easy, it is due to the blackmail efforts of environmental terrorists in our country. This problem could have been solved decades ago.
Exxon Mobil’s reserves were 72 billion oil-equivalent barrels at the end of 2007 and, at current rates of production, are expected to last over 14 years. The company has 38 oil refineries in 21 countries constituting a combined daily refining capacity of 6.3 million barrels.[5][6][7]
While it is the largest of the six oil supermajors[8] with daily production of 3.921 million BOE (barrels of oil equivalent) in 2008, this is only approximately 3% of world production and ExxonMobil’s daily production is surpassed by several of the largest state-owned petroleum companies.[9] When ranked by oil and gas reserves it is 14th in the world with less than 1% of the total.[10][11]
ExxonMobil has been accused by major scientific organizations of waging a misinformation campaign aiming to create uncertainty on the issue of global warming.[12][13]
Duration : 0:10:56
warming" bit? The sky is falling…. the sky is falling!
Have you checked the estimates on oil reserves lately?
"It’s suspected that many OPEC countries pump-up their estimated reserves because their production quotas are based on the size of the reserves. In 1988 and 1990, many Middle Eastern countries revised their reserves upwards dramatically despite no major new discoveries. From 1986 to 1990, according to data from World Oil and Oil and Gas Journal, global reserves increased a staggering 39 percent from 708 billion barrels to 983 billion barrels."
http://www.thirdworldtraveler.com/Oil_watch/World_Oil%20_Table.html
Although the U.S. imports only 11.4 % of its oil from the Persian Gulf region, that area contains 590 billion barrels of known reserves. Add Iran, Libya and Algeria and you have another 130 billion barrels. The enormous pool of oil stretching form Algeria to Iran is estimated at 720 billion barrels.
Caspian Sea in Central Asia will be added to this total in a few years.
Now… it is estimated that the world is using 75 million barrels of oil per day.
To do the math, we are using roughly 26 billion barrels a year. The reserves from the gulf region alone (excluding the Caspian Sea and the rest of the world’s oil reserves would last us the next 27 years.
I don’t mind using our resources wisely or conserving or even finding alternatives. I do mind the whole “sky is falling” bit for political gain.
Lindsey,
Once again, in your childish attempt to make me look stupid… you make the uneducated statement that Oil is a non-renewable resource going as far as to tell me that I should go to college and study science??? So… let me once again help you out…
Crude oil is the term for "unprocessed" oil, the stuff that comes out of the ground. It is also known as petroleum. Crude oil is a fossil fuel, meaning that it was made naturally from decaying plants and animals living in ancient seas millions of years ago — anywhere you find crude oil was once a sea bed. Crude oils vary in color, from clear to tar-black, and in viscosity, from water to almost solid.
http://science.howstuffworks.com/oil-refining1.htm
Now…. it doesn’t renew itself as quickly as trees, and could take 100’s of years… but the planet has been around for a LONG time. This process has been going on for a LONG time. I think GOD has it all worked out…. thanks.
I wonder if science has ever been wrong in their "theories"?
People… don’t confuse scientific "theory" as scientific fact. It is a theory because there are still variables that may prove otherwise.
Psued…. WOW! Your intelligent answer just really cleared things up for me. Forget the facts as they stand, your educated argument really showed me the light… Thank you so much for contributing!
Hopeful…. I agree with you. We do need to open our refineries. But, what group is keeping them closed down to the detriment of our economy? Thats right… the far left liberal environmentalists. It is absolutely killing California. And just look at the answer to this question so far… several think oil is running out within the next decade.
Thanks for your reasonable and rational answer!
The voice of…. I never stated "all" liberals. But for the most part… those that have this belief are liberal based. I am not sure of your connection with Bush on this thought though… how so? I am very curious. I wouldn’t be all that surprised either. Bush has really made some decisions of late that really make me question his conservatism.
liberals are emotional and reactionary by nature.
They need a cause to stand for because they generally lack a moral spine to help them stand.
As you can see from the answers posted above . Facts do not matter. What matters is how you feel and and how you react.
The global oil production is about to peak. Many countries have already peaked and now on the decline.
We have not been discovering any new souces of oil for already a while, with the end of discoveries, the end of production is just around the corner.
There will be fundamental changes to our societies, we will no longer have the oil and gas to fuel our progress.
Duration : 0:5:51
Especially when one takes into consideration these facts: the costs of cleaning up after the natural disastors they help cause, if they can even be cleaned up quickly and succesfully, (see the katrina clean up, then imagine one or two of those every year) can be prevented by in part not using them. The fact that new green clean power gets cheaper every day and coal, oil and other non-renewable energy sources get more scarce every day and are many times located in hostile areas. The fact that there would be great loss of life and habitable area and expense involved in nuclear power accidents or terror attacks. The fact that damage to the environment and the current mass extinction of species is caused by them from the climate change they help cause. And the most critical fact, the disruptions to the global food supply that will result from there continued use. http://en.wikipedia.org/wiki/Obsolescence
The abondonment of old dirty power would lead to an explosion of the green energy sector and that sector would be able to meet demand as it increases in size to fill it.
Why do something vastly more expensive and destructive then something else that will serve the same function in a much improved way?
A. Global warming is a scam. Most scientists are backing away from it now.
B. Since the price of crude oil is over $60 a barrel technologies like oil from coal and oil from the tar fields in Canada are now VERY profitable. There is 100 times more oil in these resources then in the ground in Suadi Arabia, Iraq and Iran COMBINED but the production of it produces way MORE pollutants. Oh Well…
C. There is no other viable fuel source right now. Oil is used for everything, not just your car (about 5% of usage) there is no other fuel source that even comes close to replacing it. Alternitive oil from coal and tar pits is the future., just watch…