Key oil figures were distorted by US pressure »
Posted By Radiofreeeuropa 1 week, 3 days ago in NewsExclusive: International Energy Agency official claims world is much closer to running out of oil than official estimates admit
Read Full Story at guardian.co.uk »
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Endoscopy1 week, 2 days ago
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That graph is a huge lie. There has been discovered huge untapped fields in North America in the past 10 years that are huge. Gulf of Mexico, Dakotas into Canada, Northern Alaska, Arctic ocean north of Alaska. These do not show up in the light blue before 2010. Therefore the chart is an absolute lie.
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cjsmay1 week, 2 days ago
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In America the government has zero creditability on all subjects.Any one who believes any thing that the government says is not playing with a full deck.The liars and cheaters are going to ruin our union and there seems to be little we can do about it.
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beavith11 week, 2 days ago
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it isn't clear that its not the case.
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let's see where the whistleblowers figures take us. or if we are just being gamed.
not fer nothin', but the timing is pretty propitious, coming right before the Copenhagen conference and all.
i look at the chart and i see no axis for cost. how much supply becomes available at higher prices? if this was based solely on current flat costs, i'd have no problem believing it. if an increase in price isn't included, the chart is meaningless.-
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dunkirk1 week, 2 days ago
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"The senior official claims the US has played an influential role in encouraging the watchdog to underplay the rate of decline from existing oil fields while overplaying the chances of finding new reserves."
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No the chart isnt meaningless your interpetatin is flawed. What a surprise that is. The cahrt shows available crude irregardless of price.
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earthlingerer1 week, 2 days ago
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Anyone who cares to read or look a little can see where this information came from.... an intergovernmental energy policy group. You can look and see which governments are members.
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Maybe you're right, we should just ditch all the info, figure everyone for liars with some stake in the game, and play video games and drink beer instead.
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GWHayduke1 week, 2 days ago
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No grains of salt here.
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http://www.hubbertpeak.com/summary.htm
Hubbert was the foremost expert on geophysics and the planet's oil field reserves.
This is NOT new science.
http://en.wikipedia.org/wiki/Hubbert_peak_theory
Just science that has been ignored in an effort to preserve a continuation of destructive consumer behavior in favor of giant short term (relative) profits.-
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beavith11 week, 2 days ago
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thanks for the link.
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as a cerebral exercise, its very informative, but the case for a distinct H peak is weakened in the 'criticism' section at the end.
just in natural gas alone, the new supply from fields in TX, LA and even PA and NY made available by new drilling techniques have depressed the price and increased US domestic supply, at projected demand, to over a century.
its not new science, but it remains contentious.
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simonsez1 week, 2 days ago
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The distortion in the chart is "fields to be found". Only 20% of the planet has been explored for oil deposits ... we found plenty of "easy oil" and quit looking. The new fields will be much more expensive to tap, but we are getting very good at it.
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wtagg1 week, 2 days ago
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The real issue is the location of the areas to be explored. Who holds the real estate? Do we want to provide the holders of the real estate with unlimited capital to do what they want with?
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That generally has been pretty bad for us. Is it a path that we want to continue to travel?
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TonyByron1 week, 2 days ago
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The article and the chart it's based on are rubbish.
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The chart shows projected oil production declining in '07 or '08.
No kidding? You mean at the same time the price of crude rose to historic levels and the subsequent downturn of the global economy?
Whodathunkit?-
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earthlingerer1 week, 2 days ago
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The availability and production have little to do with the price, in case you haven't noticed.
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When production infrastructure was damaged, or threatened by nature, like in 07 or 08, the price is affected dramatically by speculators and corporations seeking to take "windfall profits" that will seem justified by a need for reinvestment.
As far as refinery capacity and production, then yes, production did begin to decline in those years. -
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earthlingerer1 week, 2 days ago
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I find it strange that the International Energy Agency is comprised of member countries who are not Russia, Saudi Arabia, Iraq, Iran, or Venezuela... or any other countries that you would associate with vast production of oil.
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These oil producing countries seem to have different ideas about the future of oil, as well as the geological processes that give us the oil.
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