48% of U.S. Oil CFOs believe that the world has reached Peak Oil....

[Subdivisions]

From the http://www.oilandgasinvestor.com/Headlines/2009/WebJanuary/item27661.php">Oil & Gas Investor

Approximately 48% of U.S. E&P chief financial officers believe that the world has reached its peak petroleum production rate or will reach it within the next few years, while another 52% disagree with that statement, according to a new survey by Chicago-based national professional services firm BDO Seidman LLP.

The BDO Seidman Natural Resources 2009 Outlook survey was conducted by Market Measurement Inc. in the fourth quarter and included input from 100 U.S. E&P CFOs.

-snip-

The survey finds there are similarly differing opinions in predictions regarding when the world’s demand for petroleum will peak—31% believe it will be in less than 10 years, 43% believe it will be in 10 to 20 years, 14% believe it will be 20 to 30 years and 8% think it will reach peak more than 30 years from now.

BDO Seidman partner and national energy industry practice leader Charles Dewhurst says, “I think perspectives have likely shifted dramatically in recent months on whether the world is nearing a peak level of petroleum production. If you had gathered opinions only six months ago on this issue, most were worried that existing sources were drying up. Now, people are hedging their bets.”

-snip-

Don't believe in Peak Oil? What if you're wrong?

http://therealnews.com/t/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=2970&updaterx=2008-12-18+13%3A11%3A51">THE READ NEWS VIDEO: IEA Chief Admits Peak Oil Is Real Concern - This after denying PO just one year ago.

http://www.getreallist.com/iea-oil-report-time-is-running-out.html">IEA Oil Report: “Time is Running Out”

http://www.iea.org/Textbase/npsum/WEO2008SUM.pdf">The IEA Report Executive Summary - The report posits that oil production is declining currenty at an accelerating pace of ~7% per year. You do the math. How long does that leave us before we begin to see serious problems?

More...

From the http://www.vancouversun.com/Technology/World+unaware+dries+Experts/1168724/story.html">Vacouver Sun

World unaware as oil dries up: Experts

On top of the other problems plaguing the world, such as global warming and the current financial meltdown, there's a third pressing issue that threatens to bring the good life to an end: The world is fast running out of oil.

Given that crude oil makes up 36.4% of the world's energy consumption, the seriousness of shortages cannot be underplayed. Our reliance on oil is almost total. It fuels 100% of air and sea transport and most of our land transport.

Without oil there is no petrochemical industry. Agriculture, manufacturing, building materials, the clothes we wear, the food we eat and the medicines we take depend on oil.

Running out of oil is a question of when -- not if.

-snip-

Other current items about Peak Oil:

http://www.worldchanging.com/archives/009304.html">Choosing What Our Cities Will Look Like in a World Without Oil

http://www.bi-me.com/main.php?id=29774&t=1&c=33&cg=4&mset=">Investor Jim Rogers says oil running out

It has long been stated that Peak Oil would cause just the sort of economic turbulence we're seeing now. Does PO have a part in what is happening now? It could very well have.

[Idealism]

1. They said Russia reached peak output a few years back, too

Oops.

[Subdivisions]

2. They? ...

http://www.upi.com/Energy_Resources/2008/12/08/Russia_sees_oil_production_peak_by_2020/UPI-56621228784931/

I don't know who "they" are, but EVERY oil producing country will eventually peak. Russia says 2020. Can we believe them?

[Idealism]

4. The man's name escapes me at the moment

He is an energy analyst, well known I believe him to be Muslim... I'll remember tomorrow :(

[Subdivisions]

5. If you're referring to Samsam Bakhtiari, then no.

The etired Iranian National Oil Company geologist went to his grave recently while attempting to sound the Peak Oil alarm.

Not sure if he was Muslim but maybe you're thinking of someone else?

[Idealism]

8. No, sir, not him :/

This will keep me up for hours now :mad:

[Subdivisions]

Don't let it keep you up =). There are many who say PO is false, You

simply have to seek out the evidence, study it, think about it, and decide for yourself. The case for PO is extremely compelling.

[Idealism]

14. I agree with that statement

I do believe in PO, but there are a lot of people claiming things like this to try to incite calamity in commodity markets. I believed that to be the reason why I was reading several articles about Russia reaching their peak oil a few years back. Putin wanted to pay down the public debt and shore up the ruble, I guess lol

[Subdivisions]

15. The biggest problem with the when of Peak Oil is that many key

oil-producing nations either fudge (because of investment considerations) their reserve numbers or keep them secret. It all hinges on Saudi Arabia. If SA has peaked, then the ENTIRE WORLD has peaked. If SA has not yet peaked, the world will peak when SA peaks.

One country. We are all dependent on the production curve of SAUDI ARABIA.

[Idealism]

17. Yeah, good thing the Saudi's are great friends with Bush

They would never wrong us :sarcasm:

[Ichingcarpenter]

3. I can see Russia from my house!

And his ugly head.


I think we are ready to move on
without the oil producing countries
and the US (international) oil companies

[leftstreet]

6. Doesn't Russia have the largest natural gas reserves in the world?

:shrug:

[Idealism]

7. Natural gas and oil aren't the same thing, good sir

[leftstreet]

10. Oh, I know. LOL I was just thinking out loud

:hi:

[Idealism]

11. Ah, don't fret I do that often n/t

[Subdivisions]

9. Can gasoline be made from natural gas? Can plastic heart valves? n/t

[leftstreet]

12. Cars will sit abandoned on freeways, planes will fall out of the sky

before we admit the oil runneth out.

I was just thinking out loud.

:hi:

[Subdivisions]

13. Sadly, you are right. n/t

[razors edge]

16. No, but we can

dig up the roads and break the long chain molecules in the asphalt to make them.

Sucks, donit?

[MajorChode]

18. Peak oil in the US was predicted back in the 50's

Carter warned about it in the 70's and the right accused him of insanity. Had we followed even part of his advice we would probably be completely energy independent by now.

[Subdivisions]

19. In '56 Hubbert predicted peak US production for 1970. As you can see here...

...he was right.