RE: Kuwait's biggest field starts to run out of oil

From: janice matchett <>
Date: Tue Nov 15 2005 - 13:32:49 EST

At 12:49 PM 11/15/2005, Tjalle T Vandergraaf wrote:

>Thanks to Glenn for this, although not unexpected, news item. ... Will we
>revert back to the days when people would bring a small wooden footstool
>to church with glowing coals ...? .... Time is not on our
>side. ~ Chuck Vandergraaf
>From: Glenn Morton - Tuesday, November 15, 2005 5:23 AM
>I fear that .... Given the news I was sent today, I fear that ...If this
>is the time of peak oil, heaven help us all. ...
>It was an incredible revelation last week that the second largest oil
>field in the world is exhausted ... The news about the Burgan oil field
>also lends credence to the controversial opinions of investment banker and
>geologist Matthew
>Simmons. ....."
><> ~

### Some may find these comments below to be of interest [my comment is
last on the list]:

The demand for oil is skyrocketing world wide.

This is incorrect. The demand for Energy is skyrocketing world wide. It
just happens that currently crude oil is the cheapest, most efficient form
available. <>48

we shouldn't be panicking because of fear-mongering related to "peak oil"
theories....We'll find a happy medium somewhere, between oil and
alternative energy production that will allow things to continue longer
than many people think.

BINGO! <>49

Oil = Energy. But Energy does not equal
Oil. <>56

Old wells/fields ARE regenerating. You are correct that they are nowhere
near their original level of production. And you will note that I did not
say "rapidly refilling".

We will never run out of oil. We WILL reach a point where demand exceeds
the ability to produce.

As to geologist believing in fossil fuels, Of course they do, that is what
they were taught in school. Theory changes, the state of the art changes,
NO reputable geologist believes in Dyson Unifromitarianism any more but is
was taught in schools at one time. No sane person believes in socialism any
more, but governments still practice it. There is no scientific evidence to
support the theory of man made global warming, but it is still given wide
credence. The list goes on.

The problem with most of these arguments about energy production is that
they are usually Zero Sum arguments.
In the 60's we were going to run out of food in 50 years ( the Population
Bomb), in the 70's it was the coming ice age (I still have the Nasty
Geographics to prove it), in the 80's it was the Ozone Hole, in the 90's it
was Global Warming, and now its Oil. Pick your crisis, it will be a non
issue in a few
years. <>67

....the problems have ALREADY been solved. Let me state it one more time -
Bio-diesel and other methods have already proven to be a FUNCTIONAL

Forget windmills and solar cells. We can already run the engines we have on
other fuels, with some existing technology. NO - it's not cheap right now.
But - when gas gets more expensive, it WILL BE MORE ECONOMICAL. You WILL
NOT have to ride a bike.

The law of supply and demand (human nature) dictates that when people are
willing to get an industry such as that started, they are willing to pay
for it, and the prices eventually come down, as more companies want in on
the business.

THAT is how I draw the conclusion. If we had as many bio-fuel staions as
gas stations, the competition would keep BOTH prices low. We just have to
be forced to choose something besides gas, and that will trigger what I'm
telling you.

It's not just oil supply. It's that PLUS economics, PLUS human nature.

"..Big Oil continues to jack-up prices at the pump. ..." ~ Willie Green

And just "who" is "big oil"? LOL

"....over 60% of oil is owned by governments and governments are trying to
increase the amount of oil they own and control. For example, government
owned companies from India and China are trying to buy oil rights from
Canada, Brazil and South East Asia.

Major privately owned oil companies such as ExxonMobile and Shell control
less and less of the world's oil. ..."

<>75 posted
on 11/15/2005 12:13:12 PM EST by

~ Janice
Received on Tue Nov 15 13:33:47 2005

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