Steadygain
TSP Elite
Oil Crisis (real or false)
The head of exploration and production for the Saudi oil company, Saudi Aramco, is also an Oil Geologist. Since the mid 90s he's been studying data from the 250 major Oil fields producing most of the world's oil. His calculations showed Oil output leveling off about 2004. This production would plateau at about 85 million barrels a day about 15 years at best and then go down. Saudi Aramco is the world's largest oil reserve.
Usually higher prices spur Oil companies to invest more in exploration and go after more difficult to reach fields. But for the past few years - despite a sustained rise in price - global conventional output remains at 85 million barrels a day - WHICH IS WHERE THE HEAD CALCULATED OUTPUT WOULD BEGIN TO LEVEL OFF
This year Royal Dutch Shell's CEO, Jeroen van der Veer estimated "after 2015 supplies of easy to access Oil and gas will no longer be able to keep up with demand".
Last fall the INTERNATIONAL ENERGY AGENCY forecast the global rising demand for Oil will be 116 million barrels daily by 2030 and several oil company execs are convinced that even under the best of conditions 100 million is the best that will ever be achieved.
Worldwide output from existing fields is falling by as much as 8% a year.
By 2010 James Mulva, CEO of Conoco Phillips - states 40% of the world's daily output will have to come from fields that have not been tapped - or even discovered. By 2030 nearly all our Oil will come from fields not currently in operation.
Information is from Paul Roberts - author of "The End of Oil"
and "Tapped Out" - National Geographic/June 2008.
and "Tapped Out" - National Geographic/June 2008.
But what do any of these guys known?? They are simply CEOs of the Oil Industries - OPEC Head of Production/Exploratoin and a notable Oil Geologist and little PEONS using the most up to date data imaginable.
OK - smoke em if ya got em - and don't forget the upcomming lecture on The Great Lakes - Fresh Water