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Monday, September 23, 2013

Oil and Gas Shortages? Not so Fast . . . "World hydrocarbon supply ‘relatively boundless'"

Okay . . . here's a bit of perhaps optimistic news from the Oil and Gas Journal: World hydrocarbon supply ‘relatively boundless,’ SEG told" :
Geophysical advances have contributed to the identification of a "relatively boundless supply" of oil and gas worldwide, Barry Smitherman, chairman, Texas Railroad Commission (RRC), told the Society of Exploration Geophysicists annual meeting Sept. 23.
So much oil and gas have been located in unconventional formations worldwide that the so-called “Peak Oil” web site has shut down, Smitherman noted.
In fact, the web site of the Association for the Study of Peak Oil and Gas, seems a bit - uh- musty. On the other hand, seems alive and well to me. Mostly wrongheaded, but alive.

I hope that Mr. Smitherman is right about that "relatively boundless" thing. Or right enough that we have time to perfect other energy sources.

UPDATE: Interesting financial (read "investment") thoughts from The Motley Fool America's Peak Oil Plan in Two Charts, increase (or hold steady) production, incentivize reductions in consumption and work on practical alternatives.

And, no, providing bicycles for every one in Houston will not work as a practical alternative.

1 comment:

  1. Anonymous7:50 AM

    The peak oil fans seem to be a mix of people who underestimate the ability of technology to solve problems and those who want everyone else to be forced to adopt their preferred lifestyle, such as those that demand that people all live in urban centers.

    As far as bicycles in Houston, there's a Queen song that might make it almost worthwhile.....