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Peak Oil- fact or myth?

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    What's the deal with peak oil? Is it a genuine concern? Some people are convinced that **** will hit the fan in the next 10-20 years whilst others say there is enough oil( discovered +undiscovered) to last a very long time, still.

    What do TSRians think?
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    it doesn't matter.

    alternative energy needs to be found or we're all gonna die by global warming.
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    (Original post by ugk4life)
    it doesn't matter.

    alternative energy needs to be found or we're all gonna die by global warming.
    surely it's our grandchildren's children's children that might die of global warming
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    (Original post by localfox1000)
    surely it's our grandchildren's children's children that might die of global warming
    lol yeah that's what I meant I was talking collectively about human race lol
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    (Original post by ugk4life)
    lol yeah that's what I meant I was talking collectively about human race lol
    yeah I know fair point.
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    well theres a finate amount of it therefore there WILL be a time when it runs out
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    i think even if it doesnt run out in the next 20odd years the price by then will make it unnafordable for most people to buy and we should start investing in other energy sources ... although i dislike the idea of hydrogen, its not the safest of alternative when youre essentually sat on top of a bomb..
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    The truth is as oil starts running out we will start putting more effort into other power sources and transition over, the countries that are going to be most effected by the oil "running out" are poorer ones who can't really afford to research and install alternate power sources and countries who rely heavily on the oil within their borders for their economy.

    As for when it will run out? No idea. But i would say we have at least another 50 years worth before we really have to start coming of it due to cost.
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    (Original post by ugk4life)
    it doesn't matter.

    alternative energy needs to be found or we're all gonna die by global warming.
    No we're not.
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    (Original post by cl_steele)
    i think even if it doesnt run out in the next 20odd years the price by then will make it unnafordable for most people to buy and we should start investing in other energy sources ... although i dislike the idea of hydrogen, its not the safest of alternative when youre essentually sat on top of a bomb..
    Hydrogen isn't a primary energy source though.
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    (Original post by walterwhite123)
    No we're not.
    Rick Santorum, is that you?
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    (Original post by Retrodiction)
    Rick Santorum, is that you?
    No-one can possibly know what the effects of global warming will be or even if we can do anything about it.
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    (Original post by localfox1000)
    What's the deal with peak oil? Is it a genuine concern? Some people are convinced that **** will hit the fan in the next 10-20 years whilst others say there is enough oil( discovered +undiscovered) to last a very long time, still.

    What do TSRians think?
    Of course peak oil is a real concern, you just have to look at consistently rising fuel prices to see how the industry is feeling the squeeze. All of the major oil wells have passed peak productivity, from the Baltic to the Gulf. The only thing sustaining the industry is the discovery of new oil fields, such as the prospects in Kenya and the Falklands.

    I predict that oil will be scarce enough in 20 years that we won't have any petrol or diesel cars, except for perhaps racing and the rich. Fuel will be a luxury, not a commodity.

    We'll be able to continue using it for planes and trains, but prices will continue to rise there and such services will become more and more expensive, fuelling (pardon the pun) a demand for alternative energy solutions.

    But this is my opinion, from my own research and my A-level geography, I'm sure other people will have counterpoints.
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    (Original post by cl_steele)
    i think even if it doesnt run out in the next 20odd years the price by then will make it unnafordable for most people to buy and we should start investing in other energy sources ... although i dislike the idea of hydrogen, its not the safest of alternative when youre essentually sat on top of a bomb..
    You do realise that petrol combusts, right?
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    Global crude oil production reached a plateau 6 years ago, so it's possible that the peak has already happened. At any rate, although technological advances will allow us to extract more than was envisaged when Hubbert came up with the concept it does have to run out eventually.

    My position is that we should be implementing as wide a range of alternatives in the UK now as possible, so that when oil production does begin to decline we're sitting on a whole bunch of options and our economy has a nice competitive advantage.
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    Unfortunately while 99% of cars run on oil then there is nothing much we can do about it.
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    (Original post by atheistwithfaith)
    Hydrogen isn't a primary energy source though.
    Easy enough to produce that it doesn't really matter, though
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    (Original post by localfox1000)
    What's the deal with peak oil? Is it a genuine concern? Some people are convinced that **** will hit the fan in the next 10-20 years whilst others say there is enough oil( discovered +undiscovered) to last a very long time, still.

    What do TSRians think?
    In the sense that, at some point, the amount of oil we bring up will peak, then yes, it obviously will happen. It might not be Huppert shaped though.

    Whether this will be physical peak oil - i.e. due to fundamental limits on how much can physically be produced, or other factors remains to be seen. My guess would be that it will not be a physical peak. The rising financial and environmental cost of exploiting remaining resources will make alternative energy supplies more viable. In the medium-term, The profit motive (and political pressure) to being new sources into play will prevent too large an oil shock.

    Interestingly, oil production per capita (which is surely a more sensible measure) peaked in the 1970s. We haven't noticed because of increased energy efficiency.
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    (Original post by Architecture-er)
    You do realise that petrol combusts, right?
    naturally but when have you seen petrol explode like hydrogen ? :P
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    (Original post by Architecture-er)
    Easy enough to produce that it doesn't really matter, though
    And where do we get the energy from to make the hydrogen...

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