Comments on: Branson’s Virgin Group gets into peak oil

By: mmmggg

mmmggg — Sat, 08 May 2010 14:32:12 +0000

Yes, more oil, but more expensive drilling. Not a change to the overall scenario. Demand is still Malthusian.

By: knut

knut — Fri, 26 Mar 2010 00:54:35 +0000

To someone in the industry, the “Peak Oil” studies compares to the late arrivals of St.Clause.

The problem may be that little new oil-fields have been discovered, but contrary to all belief, the expensive development in the North Sea resulted in technology that raises the recovery rate of what is down there at least 10 times. So, while the old theories assumed that five percent (5%) of the reservoirs are recovered, the current figure is well above fifty percent (50%). I have seen fields increase recovery rate and quantity by more than fifteen times.
So: it is back to the old dry wells and unplugg them, they can produce much, much more.

By: Navaneeth

Navaneeth — Fri, 19 Mar 2010 08:32:20 +0000

Oil is one commodity whose supply is limited and demand is set to increase once global economy emerges out of the current slow down phase. The bounce that has witnessed from the lows in oil prices during the last few months is a clear indication towards this scenario. Its better to act now than too late, as both consumption and investment demand could result in new spikes in oil prices.

Its hight time that we concentrate more on renewable and alternate energy sources and reduce our dependency on carbon based fuels.

Richard Branson’s Virgin group has been strong advocates of efficient and cleaner energy policies. Hope other corporates around the globe will follow them soon.

By: Workonthis

Workonthis — Fri, 19 Feb 2010 21:48:03 +0000

The developed world’s demand for oil has seemingly peaked because of our present economic recession. If we live in this recession for 5-10 years and we start implementing new energy technologies now, we could avoid destabilization. So where are these new energy initiatives? Why, they are waiting for the price rise in oil to make their use profitable.

Catch-22. If our economies improve we are going to be hit with Peak Oil. If our economies remain in a recession, we are going to delay using new energy systems and be hit with Peak Oil in 10 years.
Either way the future of earth is going to be very unstable for some time to come. Energy will be very expensive.

Peak Oil is here and we need to do something drastic about it now.