Peak Oil is the point of maximum production rates… it is not about “Running out of oil”
When peak oil production is reached, and demand for oil continues to soar. Then the price of oil will continue to go up.
Links in the Video:
Bakken Formation (wiki): http://en.wikipedia.org/wiki/Bakken_Formation
Video on Energy-Return-Over-Invested: http://www.youtube.com/watch?v=ztgz-QOOrs8
Duration : 0:5:26
[youtube azynuzZju9Q]
January 31st, 2010 at 5:14 pm
good video I hope …
good video I hope some of the skeptics out there watch it.
January 31st, 2010 at 5:14 pm
It’s really too bad …
It’s really too bad that most people can’t figure this stuff out by themselves. Thanks for the simple analogies to use to explain Peak Oil.
January 31st, 2010 at 5:14 pm
Peak oil is a …
Peak oil is a theory based on the calculation of extraction speed of oil wells. That some people won’t be able to buy oil (or gas) when prices to up is a natural consequence of that theory. The theory can’t be applied to individuals like your are doing. The video is otherwise right, the point when we run out is irrelevant what’s important is the time when people realize that crude oil production is in a terminal decline.
January 31st, 2010 at 5:14 pm
You claim in your …
You claim in your video peak oil (PO) doesn’t mean ‘running out of oil’. I think this is a much too globally reasoned statement. If the price for oil gets too expensive for me to fill my tank, I am actually ‘running out of oil’ because of constraints due to (post-) PO. From the local perspective of a private petrol consumer, the ramifications of PO can therefore quite obviously equal to run out of oil.