Can Oil Production Meet Rising Global Demand?

You've heard it from the geologists, from the oil engineers and the people studying energy systems.

Now, it's time to hear it from (for) the policy wonks.

Can Oil Production Meet Rising Global Demand? 

The video, all one and a half hours of it, contains multiple testimonies on Capitol Hill about Peak Oil and the coming oil crunch.

Will this have an impact?

Hardly, as the Department of Energy and Military Peak Oil Reports show, people who need to know already know. People who don't know, this is too difficult a subject emotionally for them to grasp.

Also, if you view the audience in the Q&A session there are no congresspeople and certainly no senators.

If you only view one snippet, start at 00:45:00 with Bob Hirsch. Runs for about 10 minutes. Well worth the time as a good summary, if you are new to the subject.

Question Economics Growth

From the everl-abundant and constantly-giving source that is TED:

Tim Jackson 'Economic Reality Check'

"So we're caught in a kind of trap. It's a dilemma, a dilemma of growth. We can't live with it; we can't live without it. Trash the system or crash the planet. It's a tough choice."

Chavez understands Peak Oil

Whether you like him or not, Hugo Chavez is still in control of Venezueala, even after the latest election. Moreso, he appears to really understand Peak Oil, which is one of the reasons he appears to be hanging onto Venezuelan oil.

Real News reports:



The mistake Chavez did? Buying all-in to the Peak oil in 2008 and thinking that no other reason except constant demand fall could factor for the high prices.

Well, come 2008, financial crisis, reduction of the speculative and hedging positions in the oil markets as well as abrupt reduction in demand, and the price plunged.

Lesson? Even if you discount the future, don't discount it too deeply too soon.