118 comments on Peak oil: BP, Conoco CEOs say it's here - also IEA's Fatih Birol really freaks out
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Tonite's OSU KU football game on ABC Brent Musberger asked Boone Pickens flat out are we at peak oil. Boone's answer was Yes the world is consuming 88 mbls a day and producing 85.
I hope Brent Musberger will join Keith Olberman as a former sports guy that knows how to ask the pointed questions that the regular media won't go near.
I think he was fishing for investment advice because he also asked about water which Pickens is also investing in water pipeline projects.
Then he should stick to sports after all.
I beg to differ. Water is one of the smartest (and least appreciated) investment opportunities out there. In some ways, it's even more critical that peak oil or climate change. Naturally, guys like Boone are a bit ahead of the pack.
Here is an article on the subject by one of my colleagues. He has a slide deck you really should see (not available online unfortunately) about the global water situation. It knocked me off my feet.
--C
Energy consultant, writer, blogger www.getreallist.com
Yes but he is planning on depleting the Ogalala Aquifer in the process.
http://www.chron.com/disp/story.mpl/metropolitan/5266952.html
From the water encyclopedia:
"The Ogallala Aquifer occupies the High Plains of the United States, extending northward from western Texas to South Dakota. The Ogallala is the leading geologic formation in what is known as the High Plains Aquifer System. The entire system underlies about 450,000 square kilometers (174,000 square miles) of eight states. Although there are several other minor geologic formations in the High Plains Aquifer System, such as the Tertiary Brule and Arikaree and the Dakota formations of the Cretaceous, these several units are often referred to as the Ogallala Aquifer.
The Ogallala Aquifer is being both depleted and polluted. Irrigation withdraws much groundwater, yet little of it is replaced by recharge. Since large-scale irrigation began in the 1940s, water levels have declined more than 30 meters (100 feet) in parts of Kansas, New Mexico, Oklahoma, and Texas. In the 1980s and 1990s, the rate of groundwater mining, or overdraft, lessened, but still averaged approximately 82 centimeters (2.7 feet) per year."
I didn't realize that Brent Musberger was planning on draining an aquifer.
Pickens was building that water line to Dallas maybe this is the reason.http://www.dallasnews.com/sharedcontent/dws/news/localnews/stories/DN-norms_11wes.ART.East.Edition1.420fc23.html
klee,
You're right of course. In the long run, depleting Ogallala isn't going to do anybody any good. But that's a survival/long term strategy. From a short term investing strategy, which is what this comment was about, water is going to make some serious bank.
--C
Energy consultant, writer, blogger www.getreallist.com
The Ogallala also sets on top of some pretty nasty shale full of all kinds of crap.
http://cat.inist.fr/?aModele=afficheN&cpsidt=16429535
I did trace mineral analysis on water from this aquifer.
Some of its pretty bad I would not drink it.