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The Forum > Article Comments > Global oil supply more fragile than you think > Comments

Global oil supply more fragile than you think : Comments

By Nicholas Cunningham, published 10/8/2015

It makes sense for companies to cut today, but collectively that could lead to much lower supplies in the future.

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ttbn! Sorry to disabuse you but.....
“Treasury’s last Inter-generational Report contains, hidden away on page 91, a simple stunning statement: Australia’s oil will be gone by 2020. The timing could not be worse. By 2020 Peak Oil is likely to have rendered oil imports precarious and costly. And without oil, modern civilisation doesn’t work.”
Peak Oil by Country
https://decolonialatlas.wordpress.com/2015/05/23/peak-oil-by-country/
Posted by Robert LePage, Monday, 10 August 2015 1:13:18 PM
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Robert,

Perhaps, but can we believe these reports? We have the wool pulled over eyes so much these days by people and organisations we used to be able to trust, that it's hard to know what to believe.
Posted by ttbn, Monday, 10 August 2015 1:23:46 PM
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ttbn!
Trust me
Posted by Robert LePage, Monday, 10 August 2015 1:27:02 PM
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Robert LePage..
Concentrate. ttbn was talking about world supplies.. your forecast is for Australia and isn't strictly correct.. the report is talking about easy-lift oil. There is still plenty of shale oil in Queensland, but its uneconomic at present prices and likely to remain that way for many years. Your forecast also probably doesn't include the off shore stuff such as in the Timor sea.

No one talks about peak oil any more. The concept was dying before the shale oil boom. The price collapse would have killed it totally.
Posted by Curmudgeon, Monday, 10 August 2015 1:27:42 PM
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Curmudgeon: concentrate, The link I gave was for peak oil by country, worldwide.
I urge you to study the info from this link,
http://anz.theoildrum.com/node/3657
and as for shale oil, this is a good economic con almost as good as the derivatives scam.
It is only still going because of the immense amounts of money borrowed to pay for it and keep it going.
The words Ponzi scheme spring to mind.
The guvmint should take over the gas industry, stop exporting it, build terminals in all coastal cities and towns, set up distribution centres and supply the truck industry after suitable conversions.
They will find that stuffing a $US into a fuel tank does not move you very far and the same goes for filling the tank with digital dollars.
You may remember this conversation when you are on your bike.
Posted by Robert LePage, Monday, 10 August 2015 3:59:01 PM
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Robert,

Hang on a sec. Why should I trust you when the source you referred me to is someone calling himself "aeldric", an anonymous poser as per OLO. Just as I don't know if Robert Le Page is real, who the is "aeldric" that I should take what he says as gospel.

And Curmudgeon is right: I was referring to world supply, and I have always been under the impression that what we produce in Australia is chicken feed compared to our requirements.
Posted by ttbn, Monday, 10 August 2015 4:24:42 PM
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