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Oklahoma "Peak Oil"

Started by Kiah, May 10, 2006, 08:15:06 AM

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Kiah

Here's what "peak oil" looks like at the state level.  Despite record high prices and record numbers of new rigs, Oklahoma's oil production has declined steadily since 1985.  It's not that the oil has run out altogether, it's that it's more scarce, more "sour" (less easily refined), and thus more expensive.



Some say this phenomenon is or soon will be happening on a global level.
 


Matthew.Dowty

New GAO "Government Accountability Office" report on peaking world oil production.


Matthew.Dowty


Conan71

Thanks TO, I was already nursing a bad case of heartburn/indigestion. [;)]
"It has been said that politics is the second oldest profession. I have learned that it bears a striking resemblance to the first" -Ronald Reagan

sgrizzle

In related newstories, gas in Tulsa is only 90% petroleum-based now.

sauerkraut

quote:
Originally posted by Transport_Oklahoma

CIBC economist sees $100 oil in 2008

Things are going to be changing.

Yes indeed, We had a oil man on a local radio talk show and he was saying that next summer (2008)we will have $4.00 a gallon gasoline and higher if a hurricane hits. He was saying people should make plans now- today on what they plan to do next summer, buy a smaller car, bike to work, move closer to work, or buy a motorcycle. This is the lowest price time of the year for gasoline, and come January it will start it's move up, up and away.. I have a bet going that we will see our first $4.00 a gallon pump prices in Ohio next summer (2008)We almost hit the $4.00 mark this year. The speculators are in the oil market and they found a gold mine in oil, they know people have to buy gasoline no matter the price. They run up the price, do some profit taking, and then run up the price some more. It's going to get costly. I don't think many people can afford $4.00 a gallon. Some employers may have to give workers gas vouchers.
Proud Global  Warming Deiner! Earth Is Getting Colder NOT Warmer!

cannon_fodder

Research suggests that $4 is a magical mind barrier in gas.  In many surveys people always seem to respond to the $4 mark by saying THEN they would take drastic measures to cut usage.  I guess its kind of luck holding things at $2.99 instead of breaking out to $3.09, just a certain mark and it seems more expensive on the face.

I'd be happy if that were the case, gas is a bad addiction for the economy from a political, tactical, and environmental standpoint.
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I crush grooves.

Townsend

T. Boone's been saying $100 a barrel any moment for 2 years.  It's all speculative.  If the market will take it, yeah, $100 a barrel.  If the $4 a gallon will make it in the economy, it will happen.  If people travel less and use less fuel, reserves will rise and prices will fall.

My old economics professor mooted his class one day when he said "Even the best economists have no idea."

It won't destroy the economy.  People will figure out how to afford it.  The world will spin.

Technology will evolve when the market forces it to.  Alt fuels, electric engines, etc.

The control oil prices and gas prices have over us is because of us.  We allow it because we follow the crowd of "sky is falling" folk.

We've seen prices for everything go up.  We still buy.  


sauerkraut

Fuel at $4.00 a gallon is alot. just two gallons would cost $8.00. $20.00 worth of fuel would hardly make your fuel gage go up. Gasoline is not really a free market item. "Suppy & demand" offten does not play any role in fuel prices. For one thing it's controled by others in other countries, and fuel is like food we must have it, we don't have a choise we can't buy something else instead- it's a closed market. Also if people cut back on oil use, OPEC can just cut back on oil production keeping supplies tight at all times. If we cut back a million barrels a day of oil use, OPEC will just cut back oil production by a million barrels per day, prices will stay high and oil will be tight. Oil is not a free market item- it's a closed and controled market.
Proud Global  Warming Deiner! Earth Is Getting Colder NOT Warmer!


sauerkraut

WoW~ for no reason here in Columbus, Ohio our gasoline prices jumped from $2.49 a gallon back up to $2.79 a gallon. WHY? Every station all over town the same price. Tell me about the free market.[xx(]
Proud Global  Warming Deiner! Earth Is Getting Colder NOT Warmer!