Wednesday, July 25, 2007

Oil and the state of reality

The oil supply thing is one I like to talk about as I am interested in the denial process in us.

Here is the latest roundup as there has been a development.


The International Energy Agency (IEA) has been covering up the issue of declining oil supply for years now, over the last year the IEA moved to issuing covert warnings of an oil supply crisis. Now in the just-published July 2007 Medium-Term Oil Market Report, their warnings have finally become direct and clear. The IEA has also published a realistic (dire) forecast for UK oil production, and ignored the nonsense forecasts from the UK government.

Here are some quotes

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-- oil production is dropping faster than anyone expected at some of the world's biggest oil exporters.

In 2006, oil production fell by 6.9% in Norway, 10% in the United Kingdom (which shares North Sea oil fields with Norway), 2.1% in Mexico and an estimated 5% in Venezuela. In all of those cases, the rate of decline is accelerating. The problem is geology, not politics (as it is in places such as the Niger Delta, where a collapse of order has shut down 25% of Nigeria's oil production). Any fix for a geologic problem is expensive and can take years to implement.


The IEA said in its Medium Term Oil Market Repot that "oil looks extremely tight in five years time" and there are "prospects of even tighter natural gas markets at the turn of the decade"...

>>>

I like the fact they say:

"the problem is geology, not politics"

Why cant anyone say the problem is about reality not fantasy.

If you have a cave full of oil and you start using the oil in it, there will be less and less oil in the cave yes or no ? To say that the oil runs out because of geology is mad. Well yes the oil runs out because the cave is a cave and not an oil making machine and true, a cave is a geological thing.


The cave runs out because you are taking oil out.. it like gets empty when you empty it.

It gets better as it goes on to say:

"Any fix for a geologic problem is expensive and can take years to implement."

Could say.. any fix for a reality problem is expensive and can be impossible without a brain transplant.

I guess we will be struggling with the denial thing for a little longer.

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