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/sci/ - Science & Math

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4484669 No.4484669 [Reply] [Original]

Have we reached peak oil yet? I'm really starting to think we have.

>> No.4484682

Depends on how you define peak oil. If you define it by production, then no, world oil production has not gone into decline.

You could also define it by supply/demand growth (which will also be reflected in the inflation-adjusted price of oil). For instance, you could define it as the point after which demand grows faster than supply perpetually, causing the price of oil to rise continually and never come back down.

>> No.4484687

>graph from 2004 claims the peak is 2004
Surprise, surprise.

>> No.4484692

>isometric charts
>why

>> No.4484699

I define it by production. The day the world produces more oil than it ever has before or will again.

>> No.4484715

>>4484699
Then it hasn't happened yet.

Also, lots of oil producing countries are intentionally running below full capacity.

>> No.4484718

>>4484669
i love how the US is just a long plane with a tiny little bump back in the mid 20th century amid the mountain of production that is the middle east. And we have people saying we're going to be energy independent in ten years.

>> No.4484724

>>4484715
>Also, lots of oil producing countries are intentionally running below full capacity.

That's what they say. The question is do you believe them? If we go to war with Iran, which it looks like is going to happen, do you think Saudi Arabia can step up production to 12.5mbd like they say they can or are the full of shit?

>> No.4484726

>Have we reached peak oil yet?
Decisively, no.

I give it 15-20 years. Less if there's another world war.