Sorry Guys, Peek oil YEARS off :(

[Mega]

http://www.forbes.com/2010/09/13/sun...g-cenovus.html

BUGGER!

I think when it arrives it will be nasty, what is needed is a way to perpare people....if only we could find away of jacking up the cost of oil......a WAR may be?

Mike

[Starving Steve]

Re: Sorry Guys, Peek oil YEARS off

The beauty of owning Alberta oil-sands trusts and owning oil stocks like BP and Exxon is that I get all the dividends along the way, waiting for world peak-oil production ahead. I'm enjoying the wait..... Ten years on, or twenty years on, what does it matter? And the fat dividends keep compounding while I cry all the way to my bank. Plus, the world's demand is growing for oil, not shrinking, because the world is growing and developing. The standard-of-living is going up in China and India, up in Mexico and Latin America, up in Russia and in Europe......... What else is there to know?

Plus habitat preservation for birds and solar energy dreams just make my oil investments even better. Ethanol is another joke...... I love it, but I get paid by-the-month to love it; so this is wonderful.

[Jay]

Re: Sorry Guys, Peek oil YEARS off

The beauty of owning Alberta oil-sands trusts and owning oil stocks like BP and Exxon is that I get all the dividends along the way, waiting for world peak-oil production ahead. I'm enjoying the wait..... Ten years on, or twenty years on, what does it matter? And the fat dividends keep compounding while I cry all the way to my bank. Plus, the world's demand is growing for oil, not shrinking, because the world is growing and developing. The standard-of-living is going up in China and India, up in Mexico and Latin America, up in Russia and in Europe......... What else is there to know?

You should at least consider the possibility that the increasing trend of oil field nationalization will continue, and that the new barrels even an expert company like Exxon finds will be much more expensive to find and extract and will put increasing pressures on replacing their existing stocks and on the bottom line. I have actually been toying with the idea of buying a large diesel tank, which unlike gas keeps when treated properly. Too bad a I rent. I wonder if my parents flip when I broach the idea of putting a very large diesel tank on their property!

[Starving Steve]

Re: Sorry Guys, Peek oil YEARS off

Nationalization schemes should just make oil an even better investment to own. Oil prices should trend higher over the long-haul. I love the long-haul, and this is a "no-brainer" to identify as a winner for producers.

I see 100 to 200 years of oil available on Earth, maybe more. But the oil won't be cheap. And when nationalists (as in Venezuela) get into the fray, the oil supply available to consumers is going to be even more expensive. The situation is likely to become even more desperate.

Yes, diesel engines are fuel efficient. But the EPA doesn't like diesel because of the soot in the exhaust.

Shall we talk about ethanol?????????? I hope you enjoy filling your tank three times or more each week!

[Aetius Romulous]

Re: Sorry Guys, Peek oil YEARS off

I'm such an unsophisticated investor, a real traitor to the class.

When I think peak oil - or "peak" anything else - I think of my 14 year old daughter and the world she is going to have to live in. I never miss a chance to remind her that Daddy's generation are all self focused greedy sons of bitches, and that her and her friends have the sad and unfair responsibility of fixing the mess we will leave them. I truly hate "investing" against her future, and I refuse to do it. I love her, and I don't need the freaking money that bad.

[Mega]

Re: Sorry Guys, Peek oil YEARS off

I know how you feel........what is "the right thing to do".

When they invaded Iraq on their way to killing a million people i was PISSED that there were no riots, my fellow BRIT was too busy looking at the value of his/her house & how "Rich" they were & how to turn this "good fortune" to their advantage & turn their home into a ATM...lots of nice things.

It didn't matter if you couldn't do that, why simply borrow the cash dear boy, can't afford a £35,000 BMW?........Lease hire it

Enjoy life, while the People in Iran/Afgan & the rest suffer..............F*cking Anglo-saxon pigs!

Mike

[peakishmael]

Re: Sorry Guys, Peek oil YEARS off

Hey Mega, I read the article differently. To me it says

1) that peak production tends to follow peak discovery by 30-50 years (not very precise)
2) peak discovery was around 1968

The article then adds the TOP of the range (50 years) to 1968, and concludes that peak will occur BY 2018. But why not instead add the midpoint of the range (40 years), and conclude that peak is likely to have occurred around 2008? Which appears to be, in fact, roughly accurate... World production has been very nearly flat since 2005. Plus we are using more oil to maintain that production, and more of it is being held off the market for internal use of producing nations.

Regardless of when the exact peak did or will occur, your post makes it sound like an event... not a process. And we are already in the process. Got some good wars going on already too, let's not start another please. :-)

http://www.forbes.com/2010/09/13/sun...g-cenovus.html

BUGGER!

I think when it arrives it will be nasty, what is needed is a way to perpare people....if only we could find away of jacking up the cost of oil......a WAR may be?

Mike

[ThePythonicCow]

Re: Sorry Guys, Peek oil YEARS off

Regardless of when the exact peak did or will occur, your post makes it sound like an event... not a process. And we are already in the process.

Talk about peak oil being a "process" -- check out George Mobus' The Oil Drum article: Peak Oil: How Supply Crunch Can Lead to Lower Prices (for a while!).

For a taste of his thinking, here's Figure 2, his intermediate complexity model from that article:

[Starving Steve]

Re: Sorry Guys, Peek oil YEARS off

The world is BOOOOOOOOOOOOMING. Only the U.S. and parts of Europe, the UK, and Japan are asleep. Sadly, the U.S. is more than just asleep, it is in decline and decay. So, don't let your judgment of the oil market be deluded into thinking that because the U.S. is in economic decline, the rest of the world is going to follow-suit.

In Mexico, things have never been so bright. The economy is growing and in real terms. Central America is booming. Brazil, same thing. Russia, same thing. The Middle East is looking better. China is the powerhouse of the world. India is booming. So the squeeze on resources, especially oil, is going to be on.

The best investments for one's children would be in the Earth's finite resources, especially oil and oil sands. Yes, I own such investments, so I am "talking-my-book" here.