The Prophecy of Oil

[rodeodance]

well worth an entire read.



http://www.truthout.org/docs_2005/030705Z.shtml
The Prophecy of Oil
By William Rivers Pitt
t r u t h o u t | Perspective

Monday 07 March 2005

On August 27, 1859, Edwin Drake's oil well in Titusville, Pennsylvania struck a gusher, making him the man credited with drilling the first commercially successful oil well in America. In the time between then and now, the world has burned through about 900 billion barrels of Drake's discovery.

Global daily oil consumption today stands at around 82 million barrels, and many experts believe the emerging mega-industrialization of nations like China and India will cause that daily consumption to reach at least 120 million barrels a day by the year 2030. Not to fear, however; ExxonMobil believes there are some 14 trillion barrels still in the ground, including nonconventional resource fields like the tar sands of Canada and petroleum-rich shale in the western United States.

In the last several years, a theory known as 'Peak Oil' has been working its way into the mainstream. Chief proponent of this theory is Dr. Colin Campbell, a retired oil-industry geologist now living in Ireland. Dr. Campbell, who has been raising warnings about Peak Oil for some 15 years, believes that global consumption of oil is surpassing not only the amount of oil being pulled from the ground, not only the amount of oil left to be found, but is also surpassing the ability of technology to compensate for what he sees as an inevitable and looming shortfall.

The 'peak,' believes Campbell, will come as early as next year, heralding a steady rise in prices and the end of cheap oil as we have known it, causing a seismic shock within the global economy. "The perception of this decline changes the entire world we know," said Dr. Campbell in a September 2004 report from the Wall Street Journal. "Up till now we've been living in a world with the assumption of growth driven by oil. Now we have to face the other side of the mountain."

[bpilgrim]

1. why did he leave out Dr. Hubbert the father of the Peak Oil theory?

M. King Hubbert
October 5th, 1903 -- October 11th, 1989

"Our ignorance is not so vast as our failure to use what we know."
M. King Hubbert


The late Dr. M. King Hubbert, geophysicist, is well known as a world authority on the estimation of energy resources and on the prediction of their patterns of discovery and depletion.

He was probably the best known geophysicist in the world to the general public because of his startling prediction, first made public in 1949, that the fossil fuel era would be of very short duration. "Energy from Fossil Fuels, Science"

His prediction in 1956 that U.S.oil production would peak in about 1970 and decline thereafter was scoffed at then but his analysis has since proved to be remarkably accurate. See Nuclear Energy and the Fossil Fuels by M. King Hubbert, Chief Consultant (General Geology), Exploration and Production Research Division, Shell Development Company, Publication Number 95, Houston, Texas, June 1956, Presented before the Spring Meeting of the Southern District, American Petroleum Institute, Plaza Hotel, San Antonio, Texas, March 7-8-9, 1956.

more...
http://www.hubbertpeak.com/hubbert

HUGE OVERSIGHT to this history, ESPECIALLY since it has been PROVEN correct in the face of industry criticism.

here is a video that explains the CERTAINTY of PEAK OIL...
http://news.globalfreepress.com/movs/Al_Bartlett-PeakOil.mp4

peace

[bpilgrim]

2. kick

peace