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View Diary: Shale Gas Bubble About to Burst: Art Berman, Bill Powers (89 comments)

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  •  Lol (1+ / 0-)
    Recommended by:
    Happy Days
    Shell just gave up in the arctic.
    Indeed, Shell just ended their arctic activities - For The Year.  There's this little thing called "winter" you may have heard of.

    Look, I live in Iceland, don't tell me that the arctic isn't getting heavily explored for oil.  They recently even found some in Icelandic waters, in a region called the Dragon Zone.  It's big news here.

    Oh, and by the way, as prices go up, guess what happens to demand.
    Barely dropped when it hit 150.  But in all regards, why wouldn't a drop in demand be a good thing?  Oh, we'll eventually hit a "peak" alright, but it'll be a demand peak.  Same as the world didn't end when, for lighting, people switched from tallow to whale oil, whale oil to paraffin, paraffin to kerosene, or kerosene to electricity.
    Furthermore, once it takes one BTU invested to pull one BTU out of the ground, your so-called "reserves" plummet to zero!
    Utterly false and a very common misconception.  That only applies to energy in general, not a specific form of energy.  The Nazis powered their air force by using several times more energy in coal than they got out in aviation fuel.  And it let them run one of the most successful air forces in military history (until the allies bombed the refineries flat).  South Africa did the same thing during apartheid.  

    Oil is an expensive form of energy.  One can convert cheaper forms of energy into oil.  At a most basic level, oil can be produced from water, carbon dioxide, and any form of energy.  Of course, carbon dioxide is one of the most expensive ways to make oil.  Cheaper is biomass, cheaper still is coal, cheaper still is bitumen, and on and on.

    Now, you could argue that we're somehow going to hit "peak energy", but that'd be a pretty absurd argument.  The last EGS study in the US showed several hundred thousand times more geothermal potential than the US uses.  More solar energy hits the earth in an hour than the world uses in a year.  Breeder reactors and seawater fuel extraction could power the Earth for hundreds of thousands of years.  Etc.  Peak energy is an absurdity.

    •  Like I said. Open a physics book. (1+ / 0-)
      Recommended by:
      zenyata
    •  EROEI. Look it up. (0+ / 0-)
      Peak energy is an absurdity.
      Just look at all those molten salt LFTR's going up all over the U.S. No? Well maybe lot's of new Fukushima-style pressurized or boiling water reactors. No? That's okay. Fusion is only 25 years away.

      Lol.

      Reaganomics noun pl: belief that unregulated capitalism can produce unlimited goods for unlimited people on a planet with finite resources and we the people can increase revenue by decreasing revenue.

      by FrY10cK on Fri Nov 23, 2012 at 07:39:46 AM PST

      [ Parent ]

      •  Once again you seem to want industry to work again (0+ / 0-)

        economics.  People build whatever there is the best economic argument for at a given point in time.  Nuclear is more expensive right now than other forms of electricity.  Somehow in your mind that equals "impossible".

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