Great.....

http://www.upi.com/Science_News/Resource-Wars/2011/02/10/WikiLeaks-Saudi-oil-reserves-overstated/UPI-16841297339421/

all the more reason to drill, baby, drill in  ANWAR

Quote from: taxed on February 10, 2011, 09:13:32 PM
Great.....

http://www.upi.com/Science_News/Resource-Wars/2011/02/10/WikiLeaks-Saudi-oil-reserves-overstated/UPI-16841297339421/

The proponents of 'Peak Oil' have been saying this for years. Usually pooh-poohed as BS.

Quote from: Shooterman on February 11, 2011, 06:03:01 AM
The proponents of 'Peak Oil' have been saying this for years. Usually pooh-poohed as BS.

The proponents of Peak Oil have been making predictions of peak oil for a hundred years.

Also, "petroleum reserves" has no generally agreed-upon definition and isn't a fixed quantity. Reserves are a function of the technology more then they're a function of the amount of petroleum in an underground formation.

That's why those same Saudi oil fields have already pumped a lot more oil then they "contain" - the reserve estimates made twenty or thirty or fifty years ago were based on the technology of the time. Technology, as anyone reading this little note should know, doesn't stand still.

Lastly, once you've found enough oil to supply thirty years of production why would anyone look for more? Oil prospecting isn't cheap so once you've lined up thirty years worth why keep going? Does anyone keep looking for their car keys once they find them?

Quote from: taxed on February 10, 2011, 09:13:32 PM
Great.....

http://www.upi.com/Science_News/Resource-Wars/2011/02/10/WikiLeaks-Saudi-oil-reserves-overstated/UPI-16841297339421/

Lets assume it's true and the M/E runs out of oil.
Is that such a bad thing? The fanatical bastards would lose their only leverage in the World.

But truth is, they are not running out, the reservoir simply can't keep up with production.
Think of it like a giant sponge, you can only drain it so fast.
Thing is, the Earth didn't stop making oil millions of years ago, it is still is still an ongoing process today, and probably at a very huge rate.
Like Kay said, lets drill here, what in the Hell are we waiting for?

Quote from: U_Kay on February 10, 2011, 09:18:21 PM
all the more reason to drill, baby, drill in  ANWAR

   Long long overdue

Quote from: Solar on February 11, 2011, 06:35:37 AM
what in the Hell are we waiting for?

Maybe our regime fears it would mean jobs and energy for our country?

Quote from: Solar on February 11, 2011, 06:35:37 AM
Lets assume it's true and the M/E runs out of oil.
Is that such a bad thing? The fanatical bastards would lose their only leverage in the World.

But truth is, they are not running out, the reservoir simply can't keep up with production.
Think of it like a giant sponge, you can only drain it so fast.
Thing is, the Earth didn't stop making oil millions of years ago, it is still is still an ongoing process today, and probably at a very huge rate.
Like Kay said, lets drill here, what in the Hell are we waiting for?

Yeah, and now it seems like they are playing Wikileaks to send out scares to drive up demand...

Quote from: taxed on February 11, 2011, 02:27:19 PM
Yeah, and now it seems like they are playing Wikileaks to send out scares to drive up demand...

You're probably right, and keep in mind, Wiki Cables are nothing but opinions by so called diplomats, not scientists.