Peak Oil? Not bloody likely

The concept of Peak oil is a fantasy, like Global Warming, invented by Greenies and Chicken littles to make us fearful and therefore compliant to their warped way of thinking.

A case in point is the as yet untapped and easily obtainable oil off the coast of CONUS.

The U.S. has known for decades that at least 8.5 billion proven barrels of oil sit off its Pacific, Atlantic and Gulf coasts, with the Interior Department estimating 86 billion barrels of undiscovered oil resources.

Meanwhile in Brazil where they aren’t all that concerned by the waffle of green fear-mongers they have just tapped into billions of barrels of oil sit in difficult water beneath a swath of the Santos Basin, 180 miles offshore from Rio de Janeiro and Sao Paulo.

The US at the same time won’t drill.

California won’t drill for the estimated 1.3 billion barrels of recoverable oil off its coast because of bad memories of the Santa Barbara oil spill – in 1969.

We won’t drill for the estimated 5.6 billion to 16 billion barrels of oil in the moonscape known as the Arctic National Wildlife Refuge (ANWR) because of – the caribou.

In 1990, George H.W. Bush, calling himself “the environmental president,” signed an order putting virtually all the U.S. outer continental shelf’s oil and gas reserves in the deep freeze. Bill Clinton extended that lockup until 2013. A Clinton veto also threw away the key to ANWR’s oil 13 years ago.

Our waters may hold 60 trillion untapped cubic feet of natural gas. As in Brazil, these are surely conservative estimates.

So the US is sitting on an ocean of energy twiddling their thumbs, even John McCain is a don’t drill fool leading to the charge that the US isn’t really a serious country any more.

Meanwhile back here in new Zealand we also have a veritable ocens of oil at our finger tips in the Great Southern Basin.

I’m just wondering when this “peak oil” bullshit is going to be called as it is.

  • Pita

    One wonders what our government would do if vast quantities of oil were to be discovered in the southern basin…export it all to China?

  • spam

    I would point out that under Security Exchange Commission regulations, reserves can’t be “proven” until they’ve been developed. So that statement of “proven” reserves is misleading bollocks.

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