Collapse: New Nutjob Documentary

[quote name='mykevermin']http://www.youtube.com/watch?v=WAyHIOg5aHkAnother conspiracy theorist and 9/11 truther arguing about how we've passed peak oil and it's all going to shit from here.[/QUOTE]

Wait a minute. We haven't passed peak oil yet? When does it happen? 5 days or 5 decades from now?

I understand gas prices are only 65% of what they were during the end of the 2008 hurricane season, but those oil wells don't refill themselves. (Well, they might, but nobody has proven that.)
 
[quote name='thrustbucket']Oil prices are staying where they are at because the oil industry has gotten smarter and cut production just enough to make it so.[/QUOTE]

The prices dropped because they didn't anticipate the drop in demand. So, a short term glut and "low" prices.

Eventually, demand won't be able to drop enough.*

*
Unless everybody moves to using alternative fuels and/or accepts a lower standard of living.
 
This is such a load of crap.. We aren't going to run out of oil for 100-150+ years.. People who claim this always base their statement on present knowledge and present inventories. They neglect the fact that super high prices for oil will dramatically increase the incentive to explore and produce more oil. We've found a lot of oil, but it doesn't change the fact that all of the oil wells and empty holes drilled so far account for about 1% of the earth's surface. Show me oil at $300-$400/barrel and you will have 10,000+ new exploration companies created in a matter of days to bring new supply on the market. When oil becomes as valuable as gold, everybody will want to cash in on such a situation by bringing more supply onto the market. If the government doesn't f*ck things up, prices will reach a healthy equilibrium as they always do.
 
[quote name='Capitalizt']This is such a load of crap.. We aren't going to run out of oil for 100-150+ years.. People who claim this always base their statement on present knowledge and present inventories. They neglect the fact that super high prices for oil will dramatically increase the incentive to explore and produce more oil. We've found a lot of oil, but it doesn't change the fact that all of the oil wells and empty holes drilled so far account for about 1% of the earth's surface. Show me oil at $300-$400/barrel and you will have 10,000+ new exploration companies created in a matter of days to bring new supply on the market. When oil becomes as valuable as gold, everybody will want to cash in on such a situation by bringing more supply onto the market. If the government doesn't f*ck things up, prices will reach a healthy equilibrium as they always do.[/QUOTE]

They also base their statement on present consumption. India and China each have population 3-4 times larger than ours, but their per capita use is less than 10% of what we use. If their consumption were to double or quintuple, that 100-150 years becomes 10-15 years.

http://www.nationmaster.com/graph/ene_oil_con_percap-energy-oil-consumption-per-capita

As far as higher prices magically creating more supply, that is great and all but having a $500 heating bill when I used to have a $100 heating bill doesn't mean I suddenly have the ability to pay the extra $400 a month. Maybe I'll just eat $400 less per month, but I would probably be doing that already because the cost of moving food to the market already devalued my dollar.
 
Since when is 100-150 years a long time?

And FoC is right. Those numbers are based on the growth we experienced in America. India and China are experiencing exponential growth in oil use. That also doesn't forecast a future country that will join the first world and start driving cars like crazy. It's a possibility one African nation will figure shit out in the next century and start guzzling oil like it's going out of style.
 
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