Yahoo News: Experts: Petroleum May Be Nearing a Peak

[funflower]

http://news.yahoo.com/s/ap/oil_gone;_ylt=Apa._VzLvyJK0xX3MC9mnCwDW7oF;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl

(snip)

Could the petroleum joyride — cheap, abundant oil that has sent the global economy whizzing along with the pedal to the metal and the AC blasting for decades — be coming to an end? Some observers of the oil industry think so. They predict that this year, maybe next — almost certainly by the end of the decade — the world's oil production, having grown exuberantly for more than a century, will peak and begin to decline.

(snip)

[femme.democratique]

1. Um, NEWSFLASH, you're about 5 years late Yahoo News!!

[bpilgrim]

2. "But many experts see no reason global oil production has to peak at all."

But many experts see no reason global oil production has to peak at all. It could plateau and then gradually fall as the economy converts to other forms of energy."

more...
http://tinyurl.com/d2j5h

lol

peace

[LaPera]

3. We better steal Iran's oil ASAP. Now that BushCo is controlling the flow

oil from Iraq and they are stealing most of the Iraqi people's oil there...BushCo is keeping supply to a minimum, as we pay record prices at the pumps....Exxon-Mobil, Shell, Texaco, etc... are reaping in profits unheard of before the invasion, record profits every quarter.

So what if people are killing and dying in oil rich Iraq...BushCo is making record profits.

And that's a fact!

[funflower]

5. This must scare the s*** out of the Saudi oil oligarchs.

They have, like, no skills to fall back on.

[bullimiami]

4. i dont think they know much at all. just guessing.

like economists. some will be right some will be wrong.

the problem is none of them really knows whats under the ground, or what the real supply will be compared to the demand.

there a the known knowns, the known unknowns, the unknown unknowns...its unknowable.

but smart people would plan for, if not the 'worst case', at least for a troublesome scenario, just in case. CYA.




As far as the profit goes. the oil companies are making it hand over fist. I heard that they are making in the area of 4x the profit than just a few years ago.