Chapter 17a - Peak Oil (1 of 2): Energy is the lifeblood of any economy and a steady supply of energy is necessary to maintain the status quo, while an ever-increasing supply is needed to grow an economy. In this chapter, Dr. Chris Martenson explains that Peak Oil is not a theory, rather it is a description of how oil production increases over time, reaches a peak, then declines. Evidence points to a global production peak in the near future, which is troubling since the US imports two-thirds of its oil and relies on it to much of its transportation and food production needs. www.chrismartenson.com
Tags: Chapter, Chris, Course, Crash, Martenson, Peak
I suggest reading "Crossing The Rubicon" or "Plan C" if you really think we can convert to clean/free energy on the drop of a dime, I will emotionally say this: You are FUCKING IGNORANT. Close minded sheep cannot accept the facts, check it out, I hope all of you who criticize this have a lifetime supply of Xanax, cuz you're gonna go nuts not understanding why you're life is going to shit.
I wish this guy could be a cabinet member and wake the nation up to this stuf, and actually set some policies geared towards it.
Excellent. Good comments here too.
Absolutely! You would not hear anything!
I will be if the government keeps suppressing it. Have you noticed that breakthroughs that should be revolutionizing the world get only a few minutes of media coverage, and are subsequently destroyed? I'd bet 3 gold bars that if someone invented a car that ran on salt water with no emissions whatsoever and had about 300mpg, that person would assassinated, his work destroyed, and none of it covered in the media.
No, the dollar is collapsing because of the corrupt activities at the criminal Federal Reserve. And if that private banking cartel is not shut down America is going to be finished!
That's the problem - really. Absolutely we can and should move away, my position is we have a thoroughly alcoholic relationship, we could move away, but the US dollar has collapsed significantly in the last 8 years almost directly due to oil, and our economy is entirely UNABLE to respond in a market-driven way so we're pretty screwed.
Wrong! We can move away from oil, and we need to start right now.
I don't disagree that we have the capacity for great inventions - barring some nuclear or other systemic collapse, it's very likely that eventually our civilization will span at least two or more planets in our own star-system and perhaps even "go galactic" , but in the here and now, Solar might work but there is a paltry level of transition compared to the need. Secondly is the longer term interest of scarcity vs. productivity - elitists or no - we are totally unprepared to move from oil.
No, we don't know what technology is coming in the future. And you can't assume that our knowledge is going to stay the same. The criminal elite have created scarcity to make us dependent on the oil that they control. But there are other sources of energy, like the Sun, that can make us independent of the corrupt system. You can make your own solar panels, and with an inverter you can provide your own source of electricity for your home and your electric car.
Well, we can, in so far as we know how much energy we can get - out of oil & we know how much it takes to refine the tar-sands, the technology for that extraction - while I agree - is subject to some new innovation is not in doubt, but the entire discussion is moot in the view of something like a Mr. Fusion or other magical universally available energy production. The concern is that WITHOUT such a magical discovery, we're seriously screwed. So oil represents the easiest energy we've ever found.
Yes, those figures may be true for right now. But our technology is constantly changing, and if it improves over the next ten years, we may very well be able to extract 20 units or even more of energy out of the ground. You can't assume that the technology is going to stay the same.
All the oil there is in tar sands and shales. The "high" energy he was talking about is the real kicker.
Today for every unit of energy we put in to gettting oil out of the ground, we get 20 units of energy out.
With shales and sands, for every unit in, we only get two units out. So yes Alberta Canada has nearly a TRILLION barrels, but when you do the math, it's about 500-600 billion, and we use that much oil in about 35 years - at current consumption rates.
what's 400 billion, when the US alone consumes over 20 million a DAY! 400 billion will last for hmmmm can you do the math?
This guy is a tool. He is NOT an investment professional, has NO experience or EXPERTISE in the financial markets, economics or anything related to investments. Noticehow he is reading from a script. hahahaha. This guy is a vulture preying on the desperation of investors, selling his "crash course" trash. Hey dude, STOP RIPPING PEOPLE OFF. YOU DID NOT PREDICT THIS MESS AND YOU HAVE NO EXPERTISE TO UNDERSTAND IT. You're a crook who obviously lost your job and now you're trying to take ppls money
There is more oil in Colorado, Montana and Alberta Canada, that has not been touched yet, then there is in Saudi Arabia. The criminal bankers who are the primary shareholders in these oil companies put pressure on the governments of the Western World to ensure that no alternative energy sources ever take the place of oil.
even if there weren't a cartel, oil companies would still practice this because of increasing costs of drilling toward the end. It's easier to just move on to a new field. It's the law of diminshing returns.
quuaa, bakken oil field montana more than middle east 250 to 400 billion . tupi brazil found last year , type in 'peak oil scam ' you will 10 new fields in the past year, peak oil is a scam
Another thing is that, production of oil has actually been keeping up reasonably well with demand. Even now, the two are within 2% of each other. This further justifies the "bottleneck" situation at the refineries.
It is not to say that we will have an infinite supply of oil, but the issue is currently somewhere else, and there is still hope if we act fast enough.
Oil is not (yet) running out. The problem is that most oil companies are nationalized and they would rather make more money to reinvest on other infrastructures (e.g., Dubai).
Another problem is the speculative pricing of oil. Refineries have a 35-year horizon, and oil companies (and the market) don't really think there is enough oil to go around for that long to justify the cost of building new ones.
So at this point it is a combination of supply/demand, and a "cartel" problem.
The graph at 6:30, your chart is flawed as it starts at 60-something. But otherwise, we need to be investing our land into nuclear plants and research into fusion.
80%, wow. So is oil running out(causing higher production costs), or is it a cartel like situation?
I have a couple of issues I have with this chapter
(1) Oil field exploration slowed down because of improvements in horizontal drilling technologies.
(2) Oil fields are typically abandoned at 80% capacity, only to revisit when justified by cost.
(3) The choke point for oil supply is at the refinery, not at the wells. It is in effect "peak refined oil" that is the issue.
(4) There is no incentive for oil companies to increase refining capacity due to speculative pricing.
Its strange that america wages a war on terrorism during the same time as oil output peaks, no.
I said "effectively"-- As for the questions of oil rich Ireland and the motives of Total I must defer.
12 trillion barrels of known reserves will last 600 years if there is no increase in demand-- unfortunately, China and India alone will double demand in the next 10 years. Now we are down to 300. At a stable 3.5% growth rate, demand will double again in 20 years, and so on down the line. But, you know what? 50,000,000 electric cars will give us cheap and abundant oil-- how about that?
Thanks for your sharing, it’s very useful
Reader.
with ‘we leave it to you to decide’.
I never imagined how much information you could find out there about this! Thank you for making this all easy to get the picture
Really apreciate your posts man