Peak oil notes - April 28

[Javaman]

http://www.energybulletin.net/stories/2011-04-28/peak-oil-notes-april-28

[Sadena Meti]

1. Oil Production / Consumption

For the first time in several years we are actually producing more oil than we consume.

Oil - production:
84.81 million bbl/day (2009 est.)
Oil - consumption:
82.78 million bbl/day (2009 est.)

So stockpiles should be building up, and prices should be falling. The market is fixed.

[GliderGuider]

2. In case you hadn't noticed...

The numbers you quoted were for 2009. During 2009 the average oil price was $61.77 a barrel - half what it is today. During 2009 we were in a recession, so consumption was down. Now the economy is struggling to recover. As a result consumption is rising while the supply of crude oil is essentially static. Not only that, but every other liquid that makes up the 14 million barrel per day difference between "real" crude oil production and "all liquids" reporting either has a lower energy content (e.g. ethanol, biodiesel) or lower EROEI. So it's no great wonder that oil prices are rising. No deep conspiracies required, just the law of supply and demand.

Oh, and by the way, everything is fixed. The game is rigged from beginning to end. It's not just oil. It's food, finance, jobs, justice, politics, the works.

Fortunately, there are only three rules you need to know.
Unfortunately, they are these:
- You can't win;
- You can't break even;
- You can't leave the game.

[Javaman]

3. And the house always wins. nt

[Ship of Fools]

4. oh yea?

just wait until they find out that I'VE LEFT THE PLANET. Yea! Gotta a ship leaving for that newest, closest galaxy they discovered. THAT'LL show them :evilgrin: -- just trying out my sense of humor around here ... :silly:

[GliderGuider]

5. Yep, your SOH works just fine.

Glad you have one, something tells me you're going to need it one of these days...

[bhikkhu]

6. More current numbers disagree: