Peak Oil News: Peak oil a myth, claims geoscientist

Wednesday, July 23, 2008

Peak oil a myth, claims geoscientist

abc.net.au


Predictions that oil production will peak in a few years' time and then taper off have been dismissed by a leading geoscientist.

Dr Peter McCabe, from the CSIRO, says predictions of a peak oil phenomenon date back to the 1920s but are no more relevant today than they were then.

He claims it's geopolitical problems in oil-producing countries such as Nigeria and Venezuela that's pushing up oil prices, rather than dwindling supply.

Dr McCabe was a member of the US Geological Survey Assessment of global oil supplies, and says the figures show oil will last for many decades to come.

"We have produced about 35 per cent of the world's conventional oil, and we are producing about one per cent of that oil per year, so we have about 65 years left of producing at the current level of world production."


2 Comments:

At 7:22 AM, July 25, 2008, Anonymous Peak Energy News said...

Dr Peter McCabe, from the CSIRO, says that “predictions of a peak oil phenomenon date back to the 1920s but are no more relevant today than they were then”.

But he says afterwards : “we have about 65 years left of producing at the current level of world production.”

From the second statement, I understand that the peak oil phenomenon is quite relevant but will just happen a few decades later than ASPO predicts.

My conclusion : there is a major fault in Dr Peter McCabe’s way of thinking.

 
At 4:29 AM, August 04, 2008, Anonymous Anonymous said...

this guy is an idiot
he say vanezuela rising prices?
the problem is USA in iraq, they can extract only the half of barrels that produce Iraq with Sadam Hussein
65 years rly?
i suposed this guy tell the USA president stay in 0 grow...

 

Post a Comment

<< Home