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Peak oil: we have oil

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The concept of peak oil, which is the point when global oil production has reached the "turning point" of when the world has produced "the most oil it will ever produce in a given year and, after that, yearly production will inexorably decline," is not endorsed by all. In fact, many believe that we have oil in sufficient quantities for some time to come. The Long Emergency, 2005

Another definition of peak oil is that point when demand is greater than production. Having a source of oil "for a long time" is not really the point, if that source cannot be extracted and processed to meet a demand.

"Control energy and you control nations" –-Henry Kissinger

Anti-"Peakers"

Anti-"peakers" are those who do not subscribe to "peak oil" theory, among which are found:

We have oil

The following articles, commentaries and documents are in support of the anti-"peak" position.

Abiogenic Oil

Notwithstanding the skepticism of a fairly large concensus of proponents for the theory of biogenic oil, these same proponents have failed to deliver an accounting of the chemical processes for the production of biogenic oil. Yet abiogenic proponents have produced a quite extensive scientific analysis of the chemical processes for their theory, including validation through laboratory testing. Reasonable hypothesis concerning the production of the different types of abiogenic hydrocarbons, the differentiating markers and the presence of biogenic components within them have also been proferred.[1]

Considering the level of skepticism, it's difficult to understand the current research, funding and incentives for deep drilling programs by the U.S. government[2] [3] and the enormous capitalisation of new equipment for these programs by industry.[4] [5] [6]

Industry has been in the process of building fleets of deep water[7], deep drilling[8] platforms for quite a few years.[9] Although production in the shallower areas of the Gulf of Mexico are now declining, it is being replaced by deep production[10] [11] from the discovery of new giant fields[12] [13] having good exploration success rates[14] with prolific production.[15] Exactly what would be expected from the theory of abiogenic oil.

Giant Field Articles

Related Articles

Geologic Period Maps

Oil Company Profits

During periods of competition in the early history of the oil industry, exceptional profits were never had. Such lack of exceptional profitability was the very reason for the development of Rockefeller's monopolistic Standard Oil, many of the descendents of which are our current suppliers. (See Corruption and Antitrust below)

Excessive profits in the oil industry can be especially onerous in that they sap the marginal profits of captive industries. In the 1970's oil price spiral, the transportation industry (airlines/trucking) was the first to be impacted, as it is today, due not only to the direct increase of costs to the industry but due also to the impact on transportation's consumers, driving down gross revenues. These effects eventually trickled down to all aspects of industry, finance and even the entire gross domestic product, while simultaneously introducing inflationary pressures throughout the economic system. The 'flation' in "stagflation". This eventually led to the government establishing the Windfall Profits Tax in an effort to rein in big oil.

ConocoPhillips

Related Articles: Price Gouging & Crimping the Oil Supply

2003

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2006

International Oil & Natural Gas Reserves

Graphs & Maps

Corruption and Antitrust

Is there not a causal connection between the development of these huge, indomitable trusts and the horrible crimes now under investigation?…Is it not irony to speak of the equality of opportunity in a country cursed with bigness? ~ Justice Louis Brandeis

Antitrust Related News

Articles & Commentary

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2005

Related SourceWatch Resources

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