Wikileaks shows peak oil is a reality

de1amo

thats what i knew in my 'gut'--my brother who used to be in oil told me that many years ago--but i have heard so much false info on this site about northsea oil being bouyant and exploration and drilling going on---i constantly concern myself as to where the uk goes after the oil has gone and finance has moved away---i dont live in the uk but Turkey where they have an energy source called Bor--i dont know what it is but the Turks say it is the future of energy but they dont have the money to mine it/ its very hard to get at due to the mountainous region--they say they have 75pc of the world's know supply

StevieJ

de1amo wrote: »

can someone put my mind at ease--i watch bloomberg and i am sure i saw an 'expert' saying that the north sea oil will be diminishing over the next 8 to 10 years and be spent at the end of that time!---it was a harvard type so i presume he has insight!

Most places I look come up with around 25 years+ but I guess some is in tough places to get at, having said that we still appear to be discovering reserves.

The North Sea has almost as much oil left as has already been extracted, a BBC Scotland investigation has been told.
Experts believe between 25 and 30 billion barrels could still be recovered over the next 40 years.

http://news.bbc.co.uk/1/hi/scotland/7435016.stm

de1amo

The economists from over the pond are rating our viability as a uk plc on a max of 10 years unless we pull the rabbit out of the hat--i tend to think they will migrate their investment in our economy based on what their experts are telling them. My brother worked for Bp for many years and he never saw a long term future in the northsea exploration-maybe there are reserves but the americans will see the writing on the wall before it runs out--my brother now works in cable ships which have stopped laying new telecoms cables but focus on wind farm work so maybe the oil exploration can adapt to extracting gas which co exists with oil--i tend to disbeilve the bbc because they say where i live is full of headscaved women which is far from the truth--loads of the bbc is controlled by the uk plc(gov) who doesnt want to cause panic regarding oil running out--bloomberg is just about money.
ps i have just thought if the real stats show a decrease of 20 pc annum on oil production how can the bbc scottish say it will last 25years!!!????-i may be slightly drunk but that makes no mathematical or rational sense

StevieJ

de1amo wrote: »

The economists from over the pond are rating our viability as a uk plc on a max of 10 years unless we pull the rabbit out of the hat--i tend to think they will migrate their investment in our economy based on what their experts are telling them. My brother worked for Bp for many years and he never saw a long term future in the northsea exploration-maybe there are reserves but the americans will see the writing on the wall before it runs out-e

Where is you link to that? I have checked on Bloomberg and no sign.

de1amo

look above to kohoutek's post---it is the reality--i watch bloomberg because i teach English to an an oil trader here in turkey and like to have something to chat with her about so pay attention when oil and the uk comes up--she agreed with the synopsis when i brought it up in our lesson.--i sense the bbc is deceiving the british public with its optimism. i watch bbc international news and have a prospective of the real world living where i do and they are not always honest--to say the least!---they are blatantly lying when it comes to turkey and its dealings with kurdish terrorists--they actually say there is a country called kurdistan when it really is turkey and the terrorists are on the same par as the İRA--in the city i live kurds regularly bomb and kill innocent people but the bbc refuses to name them as terrorists which the UN council brands them

StevieJ

de1amo wrote: »

look above to kohoutek's post---it is the reality

Not according to the chap below

This article is riddled with errors.

And why would a Turkish oil trader know what is in the ground under the North sea? she is just being polite:)

bengalknights

Wasnt there someting about artificial petrol being made, im guessing whichever scientists made it will soon be developing artificial oil to stop us running out.

Kohoutek

de1amo wrote: »

ps i have just thought if the real stats show a decrease of 20 pc annum on oil production how can the bbc scottish say it will last 25years!!!????-i may be slightly drunk but that makes no mathematical or rational sense

Lack of investment I suppose. There may be as much oil left as that BBC article suggests, but if there isn't a enough of a business case for the major oil companies to be in the North Sea, you will still get dramatic production declines as oil fields deplete and new ones aren't brought online.

de1amo

the oil traders watch the worlds producers and miniscle changes -she knows that the north sea yields are going down and the uk is now importing more in net revenue than it raises in exports---we dont use north sea oil because it is very refine and goes to foreign buyers via rotterdam so its not an internal figure --how can the past few years production figures be ignored and a 25 year span be forcast! --i acknowledge it bloomberg confirms it and the oil traders know it--the old adage of uneconomical to exploit comes to mind---too deep and not economic to get

Kohoutek

bengalknights wrote: »

Wasnt there someting about artificial petrol being made, im guessing whichever scientists made it will soon be developing artificial oil to stop us running out.

You can make oil from almost anything – coal, natural gas, biomass. Even from just sunlight and CO2 if this company is to be believed.

However, producing synthetic oil at anything like the quantities that we use petroleum (i.e. natural oil from the ground) is a different story. The world uses about a cubic mile of oil every year, that's a lot...