Check out this great graph from The Economist: Peak oil. I don’t understand the copyright rules well enough to include the graph in my post. In case their article goes away, you can also see the graph at Carpe Diem – Chart of the day: Peak oil. Let me describe the graph.
Professor R. Tyler Priest has a review at the Wall Street Journal of The Oracle of Oil by Mason Inman. His assessment is covered in the title: Ignoring the Shale Revolution / U.S. oil production, at nearly nine million barrels per day, is nine times what Hubbert predicted it would be in the 21st century. … Continue reading “A glowing tribute to the founder of Peak Oil foolishness – peak oil #46”
An article explaining why Peak Oilers are in hiding prompted me to graph worldwide oil production. Peak Oil doctrine was wrong when announced by Dr. Hubbert. It was wrong at the turn of the century before the energy revolution was kicked off by technology that was unimaginable 50 years ago. Peak Oil doctrine is still wrong. … Continue reading “Peak oil doctrine is still false. Please point out to me on my graph the irreversible decline in production after 1970. #45”
It is so entertaining to read about all the failed predictions of when we will run out of oil or some other critical resource. I keep coming across more and more absolute guarantees of when we already ran out of oil. At its core, Peak Oil is merely another variation of the long discredited Malthusian arguments … Continue reading “More failed predictions that we have already passed Peak Oil #40. oops #42”
Previously discussed an amazing article by Mark Perry at Carpe Diem. Post provides yet another reminder that Peak Oil is a failed concept. Check out the June 23 post from Carpe Diem at American Enterprise Institute: Bakken updates: 1) Williston as ground zero for the American spirit and 2) Here comes Shale 2.0! Recoverable oil The … Continue reading “Peak Oil doctrine is still dead. #40”
Apparently it is necessary to point out that Peak Oil doctrine is still wrong. Ronald Bailey explains Hubbert’s Peak Refuted: Peak Oil Theory Still Wrong. He points out an author who has written multiple books defending Peak Oil. I just checked Amazon and can find four books from the mentioned author, written in 2001, 2005, … Continue reading “Peak Oil is still wrong. Peak Oilists are the new Flat Earthers – #39”
The shale revolution is transitioning into a manufacturing stage where production can be turned on and off based on minor price fluctuations. 6/1 – Donald Luskin and Michael Warren at Wall Street Journal – The Shale Boom Shifts Into High Gear / Oil production is becoming a modern manufacturing process, with frackers using the ‘just-in-time’ … Continue reading “Oil exploration and production moves to manufacturing stage”
This page pulls together the third volume of “Peak Oil” posts in one place. Enjoy! Previous discussions are in Peak Oil and Peak Oil vol 2. Crude production increase in 2014 is largest in 100 years. What Peak Oil – #38 The Energy Information Administration says the increase in crude oil production (counting lease condensate also) … Continue reading “Peak Oil vol. 3”
While researching for my post, Encore question: What Peak Oil – #36, I browsed a bit more of Dr. M. King Hubbert’s 1956 paper, Nuclear Energy and the Fossil Fuels, which you can find here. In addition to a precise calculation of the total crude oil that will be extracted through 2050 from Texas, the U.S. … Continue reading “What Peak Natural Gas? – #1”
Some commenters on the ‘net did not agree with my previous post which combined the U.S. production of crude oil with natural gas (dry) and NGPL. Fair point. I redrew the graph showing crude oil only. Will draw Dr. Hubbert’s peak natural gas curve and actual production another time. Update: The time is the next … Continue reading “Encore question: What Peak Oil? – #36”
Update: Some commenters on the ‘net did not agree with a graph that combines gas and oil. Fair point. I’ll redraw the graph to include only crude oil. The new graph does not change any comment made in this post. It stands as is. Peak oil is still a failed concept. Here is the new … Continue reading “What Peak Oil? – #35”
If you want to see what a radical change is underway in the energy field, check out this graph of combined oil production from the three biggest plays, Bakken, Eagle Ford, and Permian: That’s from America’s Amazing Shale Revolution in one chart by Carpe Diem and is used with permission.
Brace yourself for this chart, used with permission from Carpe Diem: Energy chart of the day: America’s shale oil revolution will reverse a 40-year decline in crude oil output in just 5.5 years. US energy production grew from around 1 million barrels of oil per day (1M bopd) in 1920 to a high … Continue reading “Shale oil revolution drives surge in domestic production – Peak oil #34”
Vaclav Smil has an article at The American, “Memories of Peak Oil” that looks at oil production data over the course of a decade. He pulls data from BP’s annual energy report. Great stuff there. These are some highlights he points out for production between 2001 and 2011:
Carpe Diem quotes the current issue of “The Gartman Letter” in a post, Quotation of the day on ‘peak lunacy.’ The newsletter is subscription only and I’m sure it’s far beyond my price range, so I have to quote the quote. Mr. Gartman recalls his undergrad days when the Malthusians said the world would be out of crude … Continue reading “On Peak Lunacy, “you’ve been wrong long enough” – Peak Oil #18”