× Register Login What's New! Contact us
Page 1 of 2 1 2 Last
Results 1 to 20 of 38 visibility 3986

Oil reserves 'exaggerated by one third'

  1. #1
    Alpha Dude's Avatar Full Member
    brightness_1
    Cold of heart
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Mar 2006
    Gender
    Male
    Religion
    Islam
    Posts
    2,966
    Threads
    46
    Rep Power
    208
    Rep Ratio
    647
    Likes Ratio
    44

    Oil reserves 'exaggerated by one third'

    Report bad ads?

    http://www.telegraph.co.uk/finance/n...one-third.html
    The scientist and researchers from Oxford University argue that official figures are inflated because member countries of the oil cartel, OPEC, over-reported reserves in the 1980s when competing for global market share.

    Their new research argues that estimates of conventional reserves should be downgraded from 1,150bn to 1,350bn barrels to between 850bn and 900bn barrels and claims that demand may outstrip supply as early as 2014. The researchers claim it is an open secret that OPEC is likely to have inflated its reserves, but that the International Energy Agency (IEA), BP, the Energy Information Administration and World Oil do not take this into account in their statistics.

    "It is necessary to investigate ambiguities and sources of error that are broadly acknowledged but not taken into account in public data due to political sensitivities," the researchers said. The paper also raises concerns that public statistics have started to incorporate non-conventional reserves such as the Canadian tar sands, where oil and gas are much more difficult to extract and may never be economically attractive to develop.

    Sir David said that although the IEA was doing a good job of warning that more investment in oil and gas exploration is needed, governments need to pay more attention to independent research.

    "The IEA functions through fees that are paid into it by member companies and has to keep its clients happy," he said. "We're not operating under that basis. This is objective analysis. We're not sitting on any oil fields. It's critically important that reserves have been overstated, and if you take this into account, we're talking supply not meeting demand in 2014-2015."

    The concept of "peak oil" has gained traction in recent years, although energy companies such as BP and Shell insist that production will be able to keep pace with growing Asian energy needs.

    Sir David said he was "very concerned" that Western governments were not taking the concept of "peak oil" – where demand outstrips production – seriously enough, while China is throwing all its efforts into grabbing as many energy resources as possible.

    Sir Richard Branson, founder of the Virgin Group, and Ian Marchant, chief executive of Scottish & Southern Energy, are members of the Peak Oil Industry Taskforce, which is trying to raise awareness of potential shortages in the coming decade.

    Dr Oliver Inderwildi, who co-wrote the paper with Sir David and Nick Owen for Oxford University's Smith School, believes radical measures such as switching freight transport to airships could become common in future.

    "The belief that alternative fuels such as biofuels could mitigate oil supply shortages and eventually replace fossil fuels is a pie in the sky. Instead of relying on those silver bullet solutions, we have to make better use of the remaining resources by improving efficiency."

  2. Report bad ads?
  3. #2
    Al-Indunisiy's Avatar Full Member
    brightness_1
    Full Member
    star_rate star_rate star_rate star_rate star_rate
    Join Date
    Nov 2009
    Gender
    Male
    Religion
    Islam
    Posts
    227
    Threads
    44
    Rep Power
    88
    Rep Ratio
    20
    Likes Ratio
    0

    Re: Oil reserves 'exaggerated by one third'



    Now, what would you personally do to counter act this 'peak oil' fenomena?

  4. #3
    Al-Indunisiy's Avatar Full Member
    brightness_1
    Full Member
    star_rate star_rate star_rate star_rate star_rate
    Join Date
    Nov 2009
    Gender
    Male
    Religion
    Islam
    Posts
    227
    Threads
    44
    Rep Power
    88
    Rep Ratio
    20
    Likes Ratio
    0

    Re: Oil reserves 'exaggerated by one third'



    If my memory serves me right, I've posted a website regarding, haven't I?

    http://www.lifeaftertheoilcrash.net/

  5. #4
    islamirama's Avatar
    brightness_1
    Account Disabled
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Feb 2007
    Gender
    Male
    Religion
    Islam
    Posts
    4,194
    Threads
    723
    Rep Power
    0
    Rep Ratio
    44
    Likes Ratio
    6

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by Al-Indunisiy View Post


    If my memory serves me right, I've posted a website regarding, haven't I?

    http://www.lifeaftertheoilcrash.net/
    Only fools are blind as to why US and its allies are in Iraq and Afghan



    In light of this information, Cheney knew the only way for Western oil majors to stay oil majors was to use force to grab what's left in the Middle East. Four years after the invasion of Iraq, this is exactly what is happening. U.K. Independent journalist Geoffrey Lean explains:


    "So where is this oil going to come from?" Cheney asked His answer: the Middle East was "where the prize ultimately lies".

    Lest there be any doubt about what was at stake, the man who was to become one of the most powerful proponents of the invasion of Iraq went on: "Oil is unique because it is so strategic in nature. We are not talking about soapflakes or leisurewear . . . The Gulf War was a reflection of that reality."

    Well, seven years on, Mr. Cheney's solution to the impending oil crisis is well on its way to being implemented. In the aftermath of another war, Iraq's Council of Ministers is today expected to throw open the doors to the country's oil reserves - the third largest in the world - to private companies, the first time a major Middle Eastern producer has ever done so. Source

    If you've been wondering why the Bush administration had been spending money, cutting social programs, and starting wars like there's no tomorrow, now you have your answer: as far as they are concerned, there is no tomorrow.



    In 2003, the BBC filmed a three-part, relatively apolitical, documentary entitled "War for Oil" about the role the Bush administration's knowledge of Peak Oil played in their decision to invade and occupy Iraq. As the documentary explains, in private the Bush administration sees the war in Iraq as "a fight for survival." In a purely Machiavellian world, they were probably correct in their thinking.
    Last edited by islamirama; 03-24-2010 at 01:45 AM.

  6. Report bad ads?
  7. #5
    Al-Indunisiy's Avatar Full Member
    brightness_1
    Full Member
    star_rate star_rate star_rate star_rate star_rate
    Join Date
    Nov 2009
    Gender
    Male
    Religion
    Islam
    Posts
    227
    Threads
    44
    Rep Power
    88
    Rep Ratio
    20
    Likes Ratio
    0

    Re: Oil reserves 'exaggerated by one third'



    @islamirama

    What tangent does that documentary have upon the link I've shown?

  8. #6
    islamirama's Avatar
    brightness_1
    Account Disabled
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Feb 2007
    Gender
    Male
    Religion
    Islam
    Posts
    4,194
    Threads
    723
    Rep Power
    0
    Rep Ratio
    44
    Likes Ratio
    6

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by Al-Indunisiy View Post


    @islamirama

    What tangent does that documentary have upon the link I've shown?


    Nothing, showing some excerpts from your link. The fools comment was at the delusional (mostly kuffars) on this board who think the illegal war and occupation of Iraq and Afghan was for something other than Oil.

  9. #7
    Joe98's Avatar
    brightness_1
    Account Disabled
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Mar 2006
    Religion
    Unspecified
    Posts
    1,106
    Threads
    46
    Rep Power
    0
    Rep Ratio
    10
    Likes Ratio
    0

    Re: Oil reserves 'exaggerated by one third'

    When Saddam was there killing muslims, Iraq was selling oil at world prices. And most of the money went to Saddam's family.

    Today Iraq is selling oil at world prices and the money is going to the people of Iraq.

    -

  10. #8
    islamirama's Avatar
    brightness_1
    Account Disabled
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Feb 2007
    Gender
    Male
    Religion
    Islam
    Posts
    4,194
    Threads
    723
    Rep Power
    0
    Rep Ratio
    44
    Likes Ratio
    6

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by Joe98 View Post
    When Saddam was there killing muslims, Iraq was selling oil at world prices. And most of the money went to Saddam's family.

    Today Iraq is selling oil at world prices and the money is going to the people of Iraq.

    -
    Saddam allegedly killed 250,000 people in 25 years where as your "liberators" killed over 1 million in the first 3 years of OCCUPATION. As for the oil, Money may be going to Saddam's family (where do you think arab money going?) but he did build a great city. He's army was the worlds 4th largest and strongest. Today that oil is going to US reserves, being stolen by the US Oil tycoons. Over 50,000 fatherless and husbandless families are living in Syria as refuges, forced into prostitution to survive. We have your average Iraqis crying we want Saddam back, he was better than this hell. And we have the ignorant trying to preach to us oil is going to Iraqi people...
    Last edited by islamirama; 03-24-2010 at 04:01 AM.

  11. #9
    Alpha Dude's Avatar Full Member
    brightness_1
    Cold of heart
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Mar 2006
    Gender
    Male
    Religion
    Islam
    Posts
    2,966
    Threads
    46
    Rep Power
    208
    Rep Ratio
    647
    Likes Ratio
    44

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by Al-Indunisiy View Post


    Now, what would you personally do to counter act this 'peak oil' fenomena?
    Remove as much reliance on oil based products as possible. Many peak oil believers tend to have a mentality of going one step further and stocking up on everyday items in some hidden bunker, believing entire civilisations and societies will collapse bringing about widespread rioting, looting and all sorts of crimes.

    That link you posted was one of the sites that introduced me with peak oil too.

    As muslims, the solution doesn't lie in hoarding and caring for ourselves as individuals though. Community is emphasised. We have to spread the word and make more people peak oil aware.

    I'm about 85% convinced that it's true.

  12. Report bad ads?
  13. #10
    Al-Indunisiy's Avatar Full Member
    brightness_1
    Full Member
    star_rate star_rate star_rate star_rate star_rate
    Join Date
    Nov 2009
    Gender
    Male
    Religion
    Islam
    Posts
    227
    Threads
    44
    Rep Power
    88
    Rep Ratio
    20
    Likes Ratio
    0

    Re: Oil reserves 'exaggerated by one third'



    @Alpha Dude:

    Many peak oil believers tend to have a mentality of going one step further and stocking up on everyday items in some hidden bunker, believing entire civilisations and societies will collapse bringing about widespread rioting, looting and all sorts of crimes.
    The question is now, even if they were to stock up, would all of those last?

    As muslims, the solution doesn't lie in hoarding and caring for ourselves as individuals though. Community is emphasised. We have to spread the word and make more people peak oil aware.
    And again, the question is how to make them care.

    Remove as much reliance on oil based products as possible.
    That's going to be hard. A lot of what we use are oil derivate. Though the only ones I can think of now are: Fuels, Lubricants, and Plastic.

    If we were to think that we should reduce dependence upon them, then we should also think about the alternatives/substitutes thereof.

    Btw. Do you think that Mr Savinar here is a little fatalistic about it?
    Last edited by Al-Indunisiy; 03-24-2010 at 07:35 AM.

  14. #11
    Alpha Dude's Avatar Full Member
    brightness_1
    Cold of heart
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Mar 2006
    Gender
    Male
    Religion
    Islam
    Posts
    2,966
    Threads
    46
    Rep Power
    208
    Rep Ratio
    647
    Likes Ratio
    44

    Re: Oil reserves 'exaggerated by one third'

    Wa alaykum salam,
    The question is now, even if they were to stock up, would all of those last?
    Some objects can last a whole lifetime, e.g. glass jars, tin cans, plastic containers. Others last for quite a few years, like tissue paper. Food, I guess, would last the least longest. It also depends how these things are stored.

    Everything in modern civilisation is interdependent. If there is a crash of some sort, many services may go down. Supermarkets might not get stocked. Food, water, electric, gas heating. All things to worry about.

    Another aspect is riots and looting. How would you be able to make your stocks safe.

    However, hoarding like that is not something I would advise. I think it's unIslamic to run for the hills and care for yourself only.

    That's going to be hard. A lot of what we use are oil derivate. Though the only ones I can think of now are: Fuels, Lubricants, and Plastic.
    How about food? Agriculture is very dependent on oil for fertilizer. Growing your own vegetables can't be bad, peak or no peak.

    Btw. Do you think that Mr Savinar here is a little fatalistic about it?
    Yeah, I would agree.

  15. #12
    Al-Indunisiy's Avatar Full Member
    brightness_1
    Full Member
    star_rate star_rate star_rate star_rate star_rate
    Join Date
    Nov 2009
    Gender
    Male
    Religion
    Islam
    Posts
    227
    Threads
    44
    Rep Power
    88
    Rep Ratio
    20
    Likes Ratio
    0

    Re: Oil reserves 'exaggerated by one third'



    I found this:
    What do you think?



    Maybe I'll search for more.

  16. #13
    Asiyah3's Avatar Full Member
    brightness_1
    IB Oldtimer
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Jul 2009
    Location
    in a temporary world
    Gender
    Female
    Religion
    Islam
    Posts
    2,035
    Threads
    55
    Rep Power
    101
    Rep Ratio
    84
    Likes Ratio
    9

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by Joe98 View Post
    When Saddam was there killing muslims, Iraq was selling oil at world prices. And most of the money went to Saddam's family.

    Today Iraq is selling oil at world prices and the money is going to the people of Iraq.

    -
    From where did you make up this nonsense (this time)
    Last edited by Asiyah3; 03-24-2010 at 03:26 PM.
    Oil reserves 'exaggerated by one third'


    Those who believe and obscure not their belief by wrongdoing, theirs is safety; and they are rightly guided. (6:86)

    Behold! verily on the friends of Allah there is no fear, nor shall they grieve. (10:62)

  17. #14
    Supreme's Avatar
    brightness_1
    Account Disabled
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Nov 2009
    Location
    London
    Religion
    Unspecified
    Posts
    1,917
    Threads
    106
    Rep Power
    0
    Rep Ratio
    29
    Likes Ratio
    1

    Re: Oil reserves 'exaggerated by one third'

    Darn. We're gonna have to invade another country for oil. I fancy somewhere tropical, say, Venezuela?

  18. Report bad ads?
  19. #15
    Argamemnon's Avatar Full Member
    brightness_1
    IB Oldtimer
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Nov 2008
    Location
    The Netherlands
    Gender
    Male
    Religion
    Islam
    Posts
    1,150
    Threads
    98
    Rep Power
    98
    Rep Ratio
    46
    Likes Ratio
    1

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by Supreme View Post
    Darn. We're gonna have to invade another country for oil. I fancy somewhere tropical, say, Venezuela?
    I wonder whether you would joke if your own country was about to be invaded and plundered and its people massacred.

  20. #16
    Supreme's Avatar
    brightness_1
    Account Disabled
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Nov 2009
    Location
    London
    Religion
    Unspecified
    Posts
    1,917
    Threads
    106
    Rep Power
    0
    Rep Ratio
    29
    Likes Ratio
    1

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by Argamemnon View Post
    I wonder whether you would joke if your own country was about to be invaded and plundered and its people massacred.
    People have been trying to do that for hundreds of years, actually. The last attempt was made by Hitler. And yes, we beat him and he failed. Actually, I think the last time that happened was with the Normans. It was more a land thing than an oil thing, but the principal is the same.

  21. #17
    Joe98's Avatar
    brightness_1
    Account Disabled
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Mar 2006
    Religion
    Unspecified
    Posts
    1,106
    Threads
    46
    Rep Power
    0
    Rep Ratio
    10
    Likes Ratio
    0

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by islamirama View Post

    Saddam allegedly killed 250,000 people in 25 years where as your "liberators" killed over 1 million in the first 3 years of OCCUPATION.
    According to Iraq Body Count http://www.iraqbodycount.org/ The number of civilians killed since 2003 is 95,000 - 105,000.

    During the recent election, 30 were killed by suicide bombs in one day.

    According to muslims on this forum 1 million have been killed

    That equals (approx) 400 per day !

    So, when we received reports of the 30 that were killed, how come no reports of the other 370 ???

  22. #18
    Woodrow's Avatar Jewel of IB
    brightness_1
    May Allah have mercy on him رحمة الله عليه
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    May 2006
    Location
    Grant County, Minnesota
    Gender
    Male
    Religion
    Islam
    Posts
    17,217
    Threads
    244
    Rep Power
    208
    Rep Ratio
    95
    Likes Ratio
    5

    Re: Oil reserves 'exaggerated by one third'

    Thinking back to 30-40 years ago it was expected the oil would come to an end soon after the year 2000. Reality is finally kicking in.

    Here in the Central plains over the past few decades wind power for Electricity has pretty much replaced gasoline operated generators. Solar plants are also being built to take up the areas not yet converted to wind power.

    Dependency on petroleum has been very much replaced by bio-fuels in the Dakotas. If things are still going according to plans Petroleum products will be illegal to be sold in South Dakota some time this year. I personally have not used gasoline in over a year except when in parts of Minnesota where E-85 was not yet available.

    I think that very quickly the US will be exporting it's surplus petroleum. The Braken Pool here in the Dakotas is now being drilled although only the first 105 wells are now in operation in the Minot area. Most of that oil seems to be targeted for the international market.

    There is some issue of how much will be drilled for in the Brakken Pool as much of it is under the region we call the Republic of Lakotah and most of us living in the RoL are opposed to any drilling.

    I believe that very rapidly dependence on Petro will become a thing of the past and for much of the world bio-fuels will replace it. It does seem to be an economic reality here. The downside is it will drastically reduce the quantity of food available for export as more grain goes into fuel production instead of flour. But, either way the flour production will suffer, using petroleum is no longer a cost effective method of raising grain. Flour does not pay enough to offset the cost of petroleum.

    I doubt if the world is going to see any major loss in fuel except for the source of the fuel. But I do envision a drastic drop in food production, which is were the real disaster is going to be.

    Affordable food depends on low cost non-bio fuel.
    Oil reserves 'exaggerated by one third'

    Herman 1 - Oil reserves 'exaggerated by one third'


  23. #19
    islamirama's Avatar
    brightness_1
    Account Disabled
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    Feb 2007
    Gender
    Male
    Religion
    Islam
    Posts
    4,194
    Threads
    723
    Rep Power
    0
    Rep Ratio
    44
    Likes Ratio
    6

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by Joe98 View Post
    According to Iraq Body Count http://www.iraqbodycount.org/ The number of civilians killed since 2003 is 95,000 - 105,000.

    During the recent election, 30 were killed by suicide bombs in one day.

    According to muslims on this forum 1 million have been killed

    That equals (approx) 400 per day !

    So, when we received reports of the 30 that were killed, how come no reports of the other 370 ???
    Right, like we are going to the believe the killers in how many they have killed. Try searching this forum, you'll find the news articles and survey results showing over 2 million killed from independent sources.
    Last edited by islamirama; 03-25-2010 at 05:54 PM.

  24. Report bad ads?
  25. #20
    Dagless's Avatar Full Member
    brightness_1
    Getting a Wimpy...
    star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate star_rate
    Join Date
    May 2007
    Location
    in a river of darkness beneath the neon lights
    Gender
    Male
    Religion
    Islam
    Posts
    1,738
    Threads
    29
    Rep Power
    118
    Rep Ratio
    159
    Likes Ratio
    17

    Re: Oil reserves 'exaggerated by one third'

    format_quote Originally Posted by Joe98 View Post
    According to Iraq Body Count http://www.iraqbodycount.org/ The number of civilians killed since 2003 is 95,000 - 105,000.

    During the recent election, 30 were killed by suicide bombs in one day.

    According to muslims on this forum 1 million have been killed

    That equals (approx) 400 per day !

    So, when we received reports of the 30 that were killed, how come no reports of the other 370 ???
    It tells you on their site:

    Confusion about the numbers produced by the project can be avoided by bearing in mind that:

    * IBC’s figures are not ‘estimates’ but a record of actual, documented deaths.
    * IBC records solely violent deaths.
    * IBC records solely civilian (strictly, ‘non-combatant’) deaths.
    * IBC’s figures are constantly updated and revised as new data comes in, and frequent consultation is advised.
    It wouldn't be difficult to classify a load of kills as "combatants" without evidence.


  26. Hide
Page 1 of 2 1 2 Last
Hey there! Oil reserves 'exaggerated by one third' Looks like you're enjoying the discussion, but you're not signed up for an account.

When you create an account, we remember exactly what you've read, so you always come right back where you left off. You also get notifications, here and via email, whenever new posts are made. And you can like posts and share your thoughts. Oil reserves 'exaggerated by one third'
Sign Up

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
create