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From Peak Oil to An Excess of Energy: The State of Global Energy



Comments (8)

  1. Shawn Aune says:

    I’m not too sure you’re interpreting this chart correctly :)

    That decrease in demand? That is called demand destruction and isn’t good for the economy.

    So yes demand has fallen below supply which will cause supply to fall again.

    Sounds a lot like the bumpy plateau those peak oils freaks are talking about.

    Perhaps there is something to what they’re saying after all :D

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    Tranzition Zoner Reply:

    This actually looks exactly like what the peakers predict given the state of the global economy -as you state- “bumpy plateau”.

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  2. i says:

    This is a momentary, short-term development caused by a sinking world economy. It hasn’t because any significant new quantities of oil have been discovered. For a *numerate* discussion of energy resource depletion, I suggest you start with the book referenced here: http://en.wikipedia.org/wiki/Cubic_mile_of_oil.

    And as usual, it has nothing to do with the straw man “We’re running out of oil argument.”

    We’re in trouble, but that’s because of the Energy return/price ratio, not any shortage of actual quantity. Energy return has decreased to less than a 1/5 of what it was in the 60s. Prices have increased. When the energy return is low enough, and prices high enough, oil is no longer useful as an energy resource.

    And this happens long before we come close to “running out.”

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  3. Pete Thomas says:

    The blue area on that chart doesn’t look like the global crude oil production graphs from EIA or JODI. Another article using the same graph states that it shows “liquid fuels”, which includes biofuels and NGL.
    And please, for the umpteenth time, don’t conflate the terms OIL and ENERGY. It’s entirely possible to have Peak Oil and an Excess of Energy, simultaneously.

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  4. JG says:

    We have already reached 400 ppm of Co2 in the atmosphere and once again there are dire warning by scientists that we must act to reduce emissions immediately. Once gain the captains of industry are ignorning them and with them the politicians. Once again the smear machine lead by “vested interests”, will claim it is just a hoax promoted by greedy, commie scientists that need research grants, As the clock ticks we debate “peak oil”? Huh?

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  5. P Hardy says:

    Has anyone done the math on it? Its not hard, just some addition and a little multiplication. You can very easily add up all the oil in the world, conventional and unconventional. Between, the EIA, IEA, and the CIA, there are more than enough sources. There are no incredible new discoveries. If someone comes on here and touts that they just found a 300 million barrel oil deposit, for one you have to estimate whats extractible, a rough high estimate is 50 % even though all wells are different. Then what is economically viable to extract. So you might end up with 30 % of the original 300 million. So we have a gigantic 90 million barrel well right. We consume on average in the world around 78 – 82 million barrels a day. Not so grand now is it. Say we found 100 billion barrels of ECONOMICALLY VIABLE oil, it would only last us another four years at current rates of consumption. Because if consumption rises, like during expanding economical times at a rate of 3 – 7 % per year, then it last substantially less than 4. Simple math.. I implore you to do some research and make your own mind up!!

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  6. Luciano Giampaglia says:

    This graph clearly shows that two good years of global recovery will once again push demand above supply.

    Go map the oil price per barrel against any global average index (example, BBC Global 30) you will see the trend. demand recovers, oil prices rise, energy input costs increase, business falters, demand is destroyed, and bump… the global economy shudders.

    The simple fact is, regardless of what supplies come on line over the next decade, it will NOT stay ahead of the required growth our economies need.

    We live in a world of fake money throughout vast capitalist economies backed by energy that ALL require infinite growth to be sustainable. That isn’t economics, its a pyramid scheme combined with a time bomb.

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  7. Jacqueline says:

    Green technology tends to save more money in the long run, deptise being more expensive to begin with for example, motion-sensing light fixtures that only turn on when someone walks into a room are more expensive than regular lights, but after a few years the reduced power usage saves money. What examples of green energy are you looking at that are so cost-inefficient? Around here (Midwest) people have been installing windmills, which are quite green that have consistently proven profitable.

    [Reply]

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