Is world oil production in its final decline?

It seems to me that, as various geologists and scientists have feared, world oil production has already peaked, and is on a descent of production.

Why do I say that? the obvious #1 reason, the steady climb of the price of crude, which affects the price and availability of a GIGANTIC amount of consumer products. We've all experienced things from toiletries to home improvement products (such as carpeting) going up in price exponentially.

We probably haven't experienced a true shortage in availability, as people just are not spending as much as they did even just five years ago on personal care products, home improvement projects, new cars or car accessories, etc. and so diminished output from world oil fields would not be further made worse by consumption of products made with (or from) oil derived products. When spending on products and services increases yet again, will oil production rise yet again to meet the added demand? I doubt it would be able to.

But gas and diesel consumption has certainly increased. Could the rise in prices be dues to a typical increase in demand versus a decrease in supply? When you pump gas into your gas tank, have you noticed that the pump now slows down well before the amount that you purchased? For ex. if you bought $20 of gas in 1999, the pump would slow down at around $18.90 or so. Now, if you buy $40, the pump slows down around $35.50... Why so early? if the pumps are routinely calibrated, why does it matter when the pump slows down? Is this an attempt of the Gas companies to save a few drops of gas per pump?

What are your thoughts on this?

[edit on 13-5-2008 by PX Iceman]

if there is a decline in production then it's by choice/policy. watch the lecture by Lindsey Williams:

www.youtube.com...

if what he says is true, then we're no where near the end of oil.

world oil production is in decline.... only earlier than projected...
The truth is we've been expecting this to happen since the 1970's
now the number shift around from year to year but most experts figured out that we should reach peek production in 2012
what that means is every refinery every super tanker every pipe line would be maxed out and supply would equal demand... no surplus...

the figures were first suggested back in the late 1980's so we knew it was coming... why we missed the target date was China and its booming economy... that shaved fours years off and made the curve for the decline steepen too....
another thing to keep in mind is no one has built a new refinery in the US for 20+ years there getting old don't run at 100% capacity, yearly turnaround takes longer to refit every year...pulse some of the oldest refineries have been taken off line due to age...

No bud this was no surprise to the people in the biz.. we've seen it coming for decades... the real question is if we knew this... why wasn't anything done before hand????

Source: me Oil field hand worked in the Patch 15 years ;-)

The Athabasca Oil Sands are a large deposit of oil-rich bitumen, or extremely heavy crude oil, located in northern Alberta, Canada. These oil sands consist of a mixture of crude bitumen (a semi-solid form of crude oil), silica sand, clay minerals, and water. The Athabasca deposit is the largest of three major oil sands deposits in Alberta, along with the nearby Peace River and Cold Lake deposits. Together, these oil sand deposits cover about 141,000 square kilometres (54,000 sq mi) of sparsely populated boreal forest and muskeg (peat bogs) and contain about 1.7 trillion barrels (270×109 m3) of bitumen in-place, comparable in magnitude to the world's proven reserves of conventional petroleum.

With current technology about 10% of these deposits, or about 170 billion barrels (27×109 m3) are considered to be economically recoverable at current prices, giving Canada oil reserves second in the world only to Saudi Arabia.

en.wikipedia.org...

reply to post by PX Iceman


Dear OP: I absolutely agree with you the world is starting to run out of oil. Peak oil theory says it started in 2005 with very few people knowing about it. According to the theory we are now on the downhill side of the bell curve. The Saudis had been keeping it a secret for the last couple of years, but now the cat is out of the bag since President Bush proclaimed to the middle east oil producers that they are running out of oil. If oil keeps going up at its' present rate it will be around $150.00 a barrel at the end of this year. If these increases continue over the nest few years I believe we will see a crash of our civilization as we know it. Cat Man

In my opinion Peak Oil is no more real than Global Warming being caused by Humans (save some minor fraction)!

Just like the GW scam, all the information and the proponents who get the media attention, are skewed to inform the sheep so that said sheep will accept more willingly the control, taxes and costs that are always the hallmarks of the NWO agenda vehicles.

Who says its running out? There are no independent specialists today that would even have access to the raw data to make informed, accurate and non-bias reported studies.

So can someone provide this non-bias independent report of the world’s oil running out anytime soon?

p.s. I love the earlier 2012 reference as an end date very Nostradamus