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93 comments on IEA: oil demand has surpassed supply

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garyp on December 6, 2007 - 7:42am Permalink | Subthread | Parent | Comments top

It annoys me when they use the phrase "the theory of peak oil". It is not a theory. Provided you recognise oil is a finite resource then there MUST be a point at which you pump the most, and that past that point there is a decline. No theory there, just a statement of fact.

The only matter for debate is when that peak is and what shape it follows on the decline. Given that the shape is theoretically derivable, the only question is the precise when. The IEA needs some serious evidence if they are going to suggest their theory that there is much more oil to find. We need to get this the right way round.

Its the fact of peak oil
The theory of large amount of new discoveries to move the peak later.

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Solaris on December 6, 2007 - 8:42am Permalink | Subthread | Parent | Comments top

Agreed. I forget who said it, but I love the quote:

Peak oil is a theory like the "round world theory".

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stiv on December 6, 2007 - 1:13pm Permalink | Subthread | Parent | Comments top

The world is not round, not exactly. More elliptical and having a rather chaotic surface.

I'm convinced that we're in for a rough ride with lots of surprises...

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FMagyar on December 6, 2007 - 8:28pm Permalink | Subthread | Parent | Comments top

Could we get past the flat earth stage and get into the ellipsoid phase now, please. Like in WGS 84.

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