Tuesday, 16 July 2013

Peak Oil tease: Peaks but never comes

Six times bigger than Bakken, a challenge to all the oil in Arabia, here`s the latest find from Coober Pedy, Australia.  A couple hundred billion barrels identified so far, one of the `greatest unconventional oil discoveries any of us will see in our lifetimes`.  "Unconventional" of course means, "Will cost a lot of bucks".

You want some of that
peak oil, don't you?
I'm tired of being told to be surprised when the conventional wisdom about energy is so often wrong anyway.  Canada, nicely endowed in oil, has lots of company around the world now.  The OPEC cartel and all those folks who blame wars on oil haven't been around even half as long as the electric light bulb.  They're a blip of history. Meanwhile we are walking about in pure fields of energy that haven't been tapped cheaply yet.  Remember E=mc2?   Unpack the energy in one blueberry and you could run the city of Toronto's power grid for a couple weeks.
History on the left, speculation on the right.
All your life you've been seeing these charts.  They show increasing supply on the left (history) and a decreasing supply of affordable energy on the right (speculation) and the peak is today.  I'm betting on history over speculation.

Grumblers could re-think oil and gas:  It's green energy, bio-converted from solar energy in it's original environment and stored successfully for millions of years without degrading the environment.  What's not to like?

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