Thursday, September 01, 2005

Is "Peak Oil" a Fraud?

The issue of renewable oil is not the only reason that Peak Oil is a con, but a good summary has just been published on energy analysis website - Fintan
If hydrocarbons are renewable-
then is "Peak Oil" a fraud?

by Joel Bainerman 31 Aug, 2005

The question is critical due to the enormous amount of coverage the issue of "Peak Oil" is receiving from the mainstream press. If the supply of hydrocarbons is renewable- then the contrary to the conventional wisdom being touted throughout the mainstream press today- the world is NOT running out of oil.

Professor Emmanuil Chekaliuk told the conference on Petroleum and Petroleum Geology in Moscow that:
"Statistical thermodynamic analysis has established clearly that hydrocarbon molecules which comprise petroleum require very high pressures for their spontaneous formation, comparable to that required for diamond...

To suggest that hydrocarbon molecules spontaneously evolve in the regimes of temperature and pressure characterized by the near-surface of the Earth, which are the regimes of methane creation and hydrocarbon destruction, does not even deserve consideration."
Contrarily, the statistics of the international petroleum industry establish that, far from diminishing, the net known recoverable reserves of petroleum have been growing steadily for the past fifty years. Those statistics show that, for every year since about 1946, the international petroleum industry has discovered at least five new tons of recoverable oil for every three which have been consumed....

As Professor P. Odell of the London School of Economics has put it, instead of "running out of oil," the human race by every measure seems to be "running into oil".... Continues