Saturday November 26, 2005

Peak Oil on Australia ABC TV

abc.net.au, peakoil.com :

Real Oil Crisis
24 November 2005

Jonica Newby [reporter]: ... it's not just that 90% of our transportation is fuelled by oil. This shopping centre is literally full of petroleum products. Look: the fabric in these clothes - petroleum based. These plastics, petroleum based. It takes on average 6 barrels of oil just to bring one cow to market.

Jeremy Leggett [geologist/author]: The last time we discovered a whole new province was the North Sea in the early 1970's. We're using 84 million barrels a day. The last year we discovered more oil than we consumed was 1981.

Narration: All oil fields follow the same pattern of rise, peak, then fall - even if they encompass an entire nation. The US hit peak oil in 1971. The UK with its North Sea oil peaked in 1999. Australia peaked in 2000. So when will Planet Earth reach peak oil? That depends on what's really happening here. The place that provides a quarter of the world's oil - the Middle East.

Narration: The dissident geologists went back to original surveys to estimate total Middle East oil. They added world known reserves, and projections of all future oil to be discovered. That's how they calculated the world will reach peak oil in the next 3 years - if we're not there already.

Narration: ... Petroleum giant Chevron is now running these startling advertisements. And here in Australia, some surprising people have come out in the early peak camp. Earlier this year, Eric Streitberg asked an extraordinary question at the Australian Petroleum Production and Exploration Association conference.

Eric Streitberg [Managing Director, ARC Energy]: I asked them to put up their hands if they thought that we had reached peak oil. Fifty percent of the people in the audience put up their hand saying that they believe we're at peak oil and these are practicing petroleum industry professionals ...

(2005-11-26 10:09:19 SGT) [Energy] Permalink

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