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It's official: peak oil is inevitable : Comments
By Samuel Fenwick, published 15/11/2010The IEA's latest report shows a deep decline in conventional oil starting anytime soon.
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Posted by Candide, Tuesday, 16 November 2010 8:08:08 AM
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George Bush and the US oil group tried to increase their oil standing, and that is why we have that unwinable war in the Middle East.
Posted by merv09, Wednesday, 17 November 2010 8:44:50 AM
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"Wood and tallow, Fester, are renewable resources,"
So are fossil fuels, though they take a bit longer to make. But ingenuity is by far the most important foundation of civilisation. If that runs out we are really in for it. Posted by Fester, Wednesday, 17 November 2010 9:48:12 PM
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Bazz, 9:25:14 AM Monday
try: http://www.pricescreen.com.au/stickers.html I'm sure there's thousands more. Posted by hugoagogo, Thursday, 18 November 2010 5:28:25 AM
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The clearer thinking today is that Peak Oil is playing out on the financial scene. To explain:
The world growth economy will oneday stop growing (most thinking people don't believe in perpetual economic growth) and it is inherently unstable. As the cost of producing a barrel of oil rises, due for example to new expensive off shore deep well production, so the cost to the economy rises. It is a drag on the economy at all levels. This drag is added to other events happening in the economy (like a debt crisis) and eventually, the growth economy stops growing. I think we are seeing the effect of Peak Oil now and I think we are lining up for the second world depression. Posted by Michael Dw, Friday, 19 November 2010 10:01:39 PM
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<I think we are seeing the effect of Peak Oil now and I think we are lining up for the second world depression.>
Powering a vehicle with electricity is much cheaper than diesel or gasoline at current prices. The hurdle has been the battery, but this is no longer true for light vehicles. http://en.luyuan.cn/future/latest_NewTechnology.asp More a revolution than a depression. Posted by Fester, Saturday, 20 November 2010 8:21:41 AM
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Like it or not, a finite resource will eventually run out if you keep on using it. Many will run out faster than you think, as demand from China and India grows. Coal, for example, was predicted to last a few hundred years a couple of decades ago. Now it is ninety years, based on present extraction rates, or forty five years if current growth in demand is factored in. We really do need to be planning for the post fossil fuel era.