Does the deepwater disaster prove that there is not a shortage of oil?

does that mean that ‘peak oil’ is just a scam to keep oil prices artificially high?

9 Responses to “Does the deepwater disaster prove that there is not a shortage of oil?”

  1. Great White Says:

    Ding Ding – you are correct you win todays TU award!

  2. Amanda Says:

    rite…that THING has been leaking for like a century! it actually shows how irresponsible big business is…hmph!

  3. Ed Says:

    What it proves is simply this, shortcuts and mismanagement of control is dangerous.

  4. Rise Above Says:

    No.

    Don’t believe me?
    Check for yourself. Let’s say the well is leaking 60,000 bbl/day. How does that compare to daily US consumption. How about world consumption.

    If you want to read some interesting info on oil in general go to theoildrum.com

  5. Drill Baby Drill Says:

    Good point!

    I haven’t seen a gusher like that in YEARS!

  6. g Says:

    how does it prove it?

  7. the briar patch Says:

    just like the diamond industry, it’s controlled to keep prices where the controlling party wants it to be!

    Just look at the profits BP made last year…………remember that was the profit, after the bills were paid!

  8. doug4jets Says:

    Yes. The Russians knew this decades ago. It just takes a little digging and judging which information is credible and which is blowing smoke. The term "fossil fuels" is a bit of a deceptive misnomer.

  9. Bad Moon Rising Says:

    Not even close!
    Peak Oil will arrive in 2045…get ready! It will probably collapse the US Economy. Think of $850 per barrel oil. You will wonder why since "there is so much oil". I can give you a shovel and you can have as much oil as you like, but you will not even recover enough to pay for your trip to the dig site. There is a ton of "in place" oil, but it will likely stay that way forever!
    EDIT: Peak Oil Price for the current US economy is about $300 per barrel (WTI) beyond that price, the economy would tank completely. In 2045, assuming a 3% annual Inflation Rate/GDP Growth, then the equivalent price will be $844 per barrel in 2045. Enjoy the consequences. This is not a joke. A Billion Barrels of oil in a field (Mocambo-BP) is nothing when Global Demand is about 75 Billion Barrels a year (energy equivalent)and growing by 0.5 Billion Barrels per Year.