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VK2AAB > FUEL 21.10.07 06:31l 73 Lines 2578 Bytes #999 (0) @ WW
BID : 49127_VK2AAB
Read: GUEST
Subj: Peak Oil is here NOW
Path: DB0FHN<DB0MRW<DK0WUE<7M3TJZ<HS1LMV<CX2SA<ZS0MEE<VK4TRS<VK3HEG<ZL2ARN<
VK2AAB
Sent: 071021/0412Z @:VK2AAB.#SYD.NSW.AUS.OC #:49127 [SYDNEY] FBB7.00i
From: VK2AAB@VK2AAB.#SYD.NSW.AUS.OC
To : FUEL@WW
Hello All;
When people such as this speaker say peak oil has already happened
then perhaps we should start acting on the assumption that it has happened.
There are certainly a number of signals that support the contention.
1. Crude Oil peaked in May 2005.
2. Crude Oil plus Condensates Peaked in July 2006.
3. NYMEX Oil price exceeded $90 briefly in one session, steadt at $89.
4. TAPIS (Singapore) at $94.
The production has still not exceeded those peaks.
A few years back they used to say if output plataued for three years then it
certainly has happened.
Still the politicians and media just don't want to know.
73 Barry VK2AAB
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Article: World oil output has already peaked, and prices that
have surged to record highs above $90 a barrel are a sign of
things to come, said investor Boone Pickens, chairman of Dallas-
based BP Capital LLC.
Global production has peaked at 85 million barrels a day,
Pickens, 79, said in an interview today at a Houston conference
sponsored by the Association for the Study of Peak Oil & Gas, a
non-profit think tank. Oil will rise to $100 a barrel before
falling to $80 again, he said. Earlier this week, he said crude
would reach $100 by year's end.
``As this unfolds, you're going to have to find alternatives that
are going to do the job that oil is doing,'' Pickens said.
``Everyone is going to have to come to grips with this in the
next two or three years. People are going to have to figure it
out.''
Peak oil is the theory that world production has reached or is
about to reach its zenith, after which it will begin an
unstoppable decline. Critics say it's impossible to know when
petroleum output has peaked, given uncertainties estimating
global reserves. Previous efforts to peg a date for peak output
have been wrong, they say.
Investors such as Pickens and analysts like Matthew Simmons of
Houston investment bank Simmons & Co. International support the
peak oil theory. Executives from companies such as Exxon Mobil
Corp. have downplayed the possibility.
``They talked like $50 was going to be difficult, and $60 and
$70. We went through those like a knife through hot butter,''
Pickens said.
Last month, Pickens predicted that oil would reach $100 a barrel
after falling to $78. Futures in New York dropped as low as
$78.35 on Oct. 8, and touched a record high of $90.07 today...
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