Vietnam: Offshore Oil?

by Frank Paynter on June 1, 2024

Euroyank excerpts from chapter 3 of "Black Gold," a piece by Marshall Smith. If Smith is to be believed the concerns about peak oil are exagerated.

{ 3 comments… read them below or add one }

Harry 06.01.05 at 7:37: EuroYank has endless thought provoking links. He gave me this one on wind energy a while back http://www.ewea.org/

Stan Goff has a great post on other aspects of Peak Oil.
http://stangoff.com/?p=99

“This is first of all and above all, an accumulation crisis, not a resource
crisis. The oil will never run out, and most of even known,
easily-accessible conventional oil reserves will probably stay underground
forever and never be pumped. As for non-conventional resources like
tar-sands–let alone hydrogen–they will remain mere fantasy. In the wake of
a sever slow-down, neither capital–nor, crucially, effective demand– will
exist capable of bringing the alternatives onstream”
EuroYank 06.02.05 at 4:42: Oil production decline before 2024. Oil follows cycle of discover. Larger fields are found found first, rising to peak discovery, then smaller fields are found. Midpoint of oil discovery of was 1960’s. The oil we are using now was discovered 35 years ago. We are not discovering new sources of oil. Produced was 800 billion barrels. Reserves at about 820 billion barrels. 200 billion barrels left to find. Peak will come in four years time. We are now eating into the capital found a long time ago.

Hear the full report on Real player audio at this site … http://healthandenergy.com/oil_crisis.htm
EuroYank 06.02.05 at 4:44: sorry for the spelling errors, my excerps quoted above were from the real player audio report at that site.