Another gas and oil field found in North Sea

[EternalOptimist]

Peak Oil is not about oil running out, but that oil production peaks and can no longer keep up with demand.
At the moment it is unclear what new extraction processes like fracking will have. Maybe shift the peak a few years down the line.

what ??

Peak oil definition is obvious, you piece of toast.
The point in time when the global production of oil will reach its maximum rate, after which production will gradually decline.

Frakking and other sources of energy will bring oil prices down, wreck the Russian economy and bring an end to OPEC , screw the saudis over, and make blackpool the Dallas of the North.


remember, you heard it here second

[AtW]

Question - we're always told that fossil fuels are a finite resource, but surely they are actually a VERY slow renewable

Best estimate that fossil fuels should renew within in a million years or so.

[Toastiness]

But the idea of peak oil, and the idea that we might run out any time soon is now known to be false.

Peak Oil is not about oil running out, but that oil production peaks and can no longer keep up with demand.
At the moment it is unclear what new extraction processes like fracking will have. Maybe shift the peak a few years down the line.

[Mich the Tester]

we are certainly digging them up and using them a million times faster than they were laid down.

It'll never keep pace with the ability of governments to waste 105% of the forecasted revenues.

[Platypus]

Great article in the Times last week
The dash for shale oil will shake the world | The Times

I hope it's not behind the paywall, sorry if so

[d000hg]

The mind boggles how much of the stuff there must be then... it's mind-boggling enough to try and grasp the amount we use in a single day so the idea we have enough for centuries...!

[EternalOptimist]

Question - we're always told that fossil fuels are a finite resource, but surely they are actually a VERY slow renewable because there must be layers of part/pre-fossilised trees and so on. Has anyone worked out how fast fossil fuels are actually being produced so we can see if this is negligible to consumption or not?

we are certainly digging them up and using them a million times faster than they were laid down.
But the idea of peak oil, and the idea that we might run out any time soon is now known to be false. We have enough of this stuff to last hundreds and possibly thousands of years.

The stone age did not end because we ran out of stone and oil age will not end because we run out of oil

[d000hg]

Question - we're always told that fossil fuels are a finite resource, but surely they are actually a VERY slow renewable because there must be layers of part/pre-fossilised trees and so on. Has anyone worked out how fast fossil fuels are actually being produced so we can see if this is negligible to consumption or not?

[Mich the Tester]

Major find in the Dutch sector. Don't know if this is good news because it isn't certain and it'll be at least 5 years before the money starts flowing, but I expect our wonderful politicians will probably be working out how to spend the money before we get it.

http://www.dutchnews.nl/news/archive...as_and_oil.php