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Are we running out of oil?

Discussion in 'Off Topic' started by Davidr, 25th Nov, 2005.

  1. Davidr

    Davidr Active Member

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    This was a very interesting article last night. I have no idea to the level of truth or accuracy, but it could be a very interesting time over the next decade if they are even half right.

    Anyone in the industry have any better insight? Moreover how will this effect world markets?

    David.

    PS Duplicate post at Somersoft
     
  2. Alan

    Alan Well-Known Member

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    David,

    I only caught 10 minutes of the show last night but I fear it will be another one of those problems we ignore until it's too late.

    I had someone say to me at work today that I guess we'll just get other forms of transport fuels. :confused:

    The trouble is that Oil is used in so many other areas from medicines through to pesticides etc.

    The other scary part of this is that while we have reducing supply we have increasing demand. Don't tell me that when push comes to shove that the oil dependent countries of the world won't simply take what they need to survive.........whoever currently has it!
     
  3. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    The simple economics of it is - as supplies dwindle and demand increased, the price of oil will rise.

    It will get to a point (and it possible already has in some areas) where it becomes economical to develop or exploit other forms of energy.

    We are a resourceful bunch, we humans.

    What is of more concern is the political ramifications of currently oil-rich nations losing their source of wealth - but that's another story.
     
  4. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    Alan,

    It's already happening.... you think Iraq was about Saddam?

    I've *heard* stories from supposed experts claiming that Saudi Arabia has huge stockpiles - enough to last 20 years+... but I'm sure we've all heard such stories from so-called 'experts'.

    Mark