Hi

Telegraph reports on falling oil production 'is greater threat to Britain than terrorism' ( I take it most of world will feel the same)

"The Peak Oil group warned in a report that the country could begin feeling the effects of a severe lack of oil within five years, as oil-producing countries will be forced to wind down production due to diminished reserves".

Have to think now what our next car or whatever will be in 4 years time !!:eek:

Falling oil production 'is greater threat to Britain than terrorism' - Telegraph

------------------------------------

Octy 2, 1.9 TDI PD Ambiente 4x4 Combi and Nissan Sunny 2.0 DLX, Company Octy 1.9 TDI Tour Combi.

Thats why oil; prices have been rising and falling pretty sharply in the past few months..........

Isn't there enough oil under Russia/Canada/Artic/Somewhere to keep us going for ages?

Not a scientific statement but I'm sure I read that. Trouble is, at what cost is extraction (cost and evironment). Would we still buy petrol if it was £10 a gallon?

Then there is the credibale theory that oil is constantly being generated by good old mother earth and old "empty" oil fields are beginning to refill.....

Oil Fields Are Refilling...Naturally - Sometimes Rapidly There Are More Oil

Seeps Than All The Tankers On Earth

technology and culture, from the trenches || kuro5hin.org

The Myth Of Peak Oil

It’s a myth that the world’s oil is running out - Times Online

Hi Aspman

Read your Times on line link, after reading the comments to it, I still think the doubt is there, nobody seems to be sure if we are running out or not !!! So I reckon I will have to wait my 4 yrs before commiting to another car !! diesel or petrol.

------------------------------------

Octy 2, 1.9 TDI PD Ambiente 4x4 Combi and Nissan Sunny 2.0 DLX, Company Octy 1.9 TDI Tour Combi.

My brother in law works in the oil industry and is confident that there is loads of oil out there. His job takes him all over the world and having spent most of his working life in the industry, told me not to lose any sleep over it.

Panic inducing propaganda and money grabbing oil companies are another matter though...

its probably scare mongery as the reporter probably has shares in one of the oil companies and wants to push up the prices again. dont worry i cant see it happening, not for least another 20 years.

It's amazing that this story came out after the fact that the price of oil has dropped significantly in the past few weeks.... surprised? Not really!

One of the biggest problems at the minute is groups like OPEC (oil exporting countries basicly) deciding since prices dropped and their profits declined they needed more money and are cutting back production in order to force profits up by forcing costs up to the consumer.

Something I herd on the news or something a while ago was the discovery of a huge oil feild in Russia or something?? Could be wrong through.

Hi

Maybe its more to do with the amount of people that are now demanding oil, as opposed to say 10 years ago. Emerging economies coming from the east, that are placing each day more demands on oil producers, thus they just cannot produce oil into infinite. More oil is found OK like in Russia Alaska etc, but even that will not meet the demands of a ever world increasing demand.

------------------------------------

Octy 2, 1.9 TDI PD Ambiente 4x4 Combi and Nissan Sunny 2.0 DLX, Company Octy 1.9 TDI Tour Combi.

It's not in the oil companies interests to increase production to meet demand.

its not, they have seen how high oil prices can get and know they can get back there so will be greedy.