PeakOilWhen News & Library This page features PeakOilWhen news items, and library content. Read the May-Aug PeakOilWhen Report! News Nov 1, 2007 World Oil Output Struggling - says Experts Leading figures from the Middle East oil industry added their voices yesterday to those warning that the world is struggling to sustain rising oil production. "There is a real problem - that supply may not be possible to increase beyond a certain level, say around 100 million barrels", Libya's National Oil Corp Chairman Shokri Ghanem said at an industry's conference. Oct 26, 2007 Oil Tops $90 on Range of Worries Oil soared past $90 a barrel to a record on a mix of unsettling news that ranged from Middle East tensions to supply concerns, demonstrating the delicate state of world petroleum markets heading into the energy-intensive winter months. Oct 24, 2007 A Peak Oil believer changes his colors. The Peak Oil school rests its theory on conventional Western geology textbooks, most by American or British geologists, which claim oil is a ‘fossil fuel,’ a biological residue or detritus of either fossilized dinosaur remains or perhaps algae, hence a product in finite supply. Biological origin is central to Peak Oil theory, used to explain why oil is only found in certain parts of the world where it was geologically trapped millions of years ago. That would mean that, say, dead dinosaur remains became compressed and over tens of millions of years fossilized and trapped in underground reservoirs perhaps 4-6,000 feet below the surface of the earth. In rare cases, so goes the theory, huge amounts of biological matter should have been trapped in rock formations in the shallower ocean offshore as in the Gulf of Mexico or North Sea or Gulf of Guinea. Geology should be only about figuring out where these pockets in the layers of the earth, called reservoirs, lie within certain sedimentary basins. An entirely alternative theory of oil formation has existed since the early 1950’s in Russia, almost unknown to the West. It claims conventional American biological origins theory is an unscientific absurdity that is un-provable. They point to the fact that western geologists have repeatedly predicted finite oil over the past century, only to then find more, lots more. Not only has this alternative explanation of the origins of oil and gas existed in theory. The emergence of Russia and prior of the USSR as the world’s largest oil producer and natural gas producer has been based on the application of the theory in practice. This has geopolitical consequences of staggering magnitude. Anxiety about the economic fallout from a continued climb in crude-oil prices caused stock benchmarks to weaken. Oct 17, 2007 Stocks Slide as Oil Hits New Highs Anxiety about the economic fallout from a continued climb in crude-oil prices caused stock benchmarks to weaken. Spt 5, 2007 China Lifts Target For Investment In Cleaner Energy China said it needs two trillion yuan ($265 billion) of investment by 2020 if it is to reach its renewable energy goals -- more than double the previous estimate by government officials. Spt 4, 2007 New Forecast for Climate Debate Aug 27, 2007: Business Goes on an Energy Diet Companies use a big share of the world's energy. Here's how some of them are cutting back. Why Fears of a U.S. Slowdown Aren't Weakening Oil Prices Articles and Publications Before Oil Runs out: The Search for Alternatives "Uncertainty about Future Oil Supply Makes It Important to Develop a Strategy for Addressing a Peak and Decline in Oil Production" US GAO Report, February 2007 Peak-Oil-When: The Unanswered Gateway Question of The Energy Crisis The No Peak-Oil Theory Peak Oil: When, how, and what’s next? BiPSA: From Controversy to Consensus Books Beyond Oil: The View from Hubbert's Peak Peak Oil Prep: Prepare for Peak Oil, Climate Change and Economic Collapse Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy The Innovation Turing Machine
(c) 2007 The Gideon Samid BiPSA Company