Matt Simmons says we've passed peak oil.

[bighughdiehl]

http://www.theoildrum.com/node/2239#comments


Went on Bloomberg on Thursday or Friday and says we peaked in '05.

I don't know what to think. Production may be flat, but it still seems too soon to call. I think we'd have $100/barrel. Is this just more Booga Booga from the same old crowd? The only thing different now is he seems pretty confident about it being past tense.

[Kagemusha]

1. Why on earth would the major oil corps want higher production now?

What does it get them? What?

Wouldn't matter if there were twice as much oil. They finally have a good thing going with Iraq's oil problems choking the market. Why produce more and kill their record earnings? Why??

[Mojorabbit]

2. I thought when we hit peak

we would not see the effects for a while. It seems I have seen a bell curve which drops off but not for a while after peak?

[profgoose]

3. Here's the best response I've seen to this question...

It's a little long, but I think Dave Cohen has one of the best and most comprehensive explanations out there on why we're at peak oil:

http://www.theoildrum.com/story/2006/11/15/83857/186

in the linked video, Simmons' main point was that oil is so cheap compared to other commodities that other countries (read countries who want to screw with us) could put the squeeze on with little change in behavior on our part (his example of the pricing of gas in Europe is more than double what it is here, etc.).

Another piece of ours you may all want to check out is this one, where Engineer Poet lays out some really good ideas:

http://www.theoildrum.com/story/2006/11/27/0432/3533

We have a lot to learn about our energy supply, simply put. Thanks for the link to TOD, DU! We hope you'll all come over and learn with us.

[Delphinus]

4. Ooh,

I read you yesterday over on The Oil Drum. Welcome to DU! :hi:

Did you know DU has a Peak Oil Forum? Be sure to check that out - we've got a good discussion on Simmons' talking Peak going on.

[4dsc]

5. Welcome profgoose...

Many good idea's are coming from the oildrum.com!!