Dave's Energy

Tuesday, November 14, 2006

No need to worry?

Cambridge Energy Research Associates (CERA) just released a new report on one of their favorite topics--debunking peak oil theory. CERA director of Oil Industry Activity Peter Jackson suggests in Why the Peak Oil Theory Falls Down: Myths, Legends, and the Future of Oil Resources we have over 3X the reserves that peak oil theorists suggest, 3.74 trillion barrels compared to 1.2 trillion barrels.

We haven't read the report yet, just the news release and Daniel Yergin's commentary on CNBC.
news release link

On a side note, I highly recommend Yergin's book The Prize to learn about the history of oil.
The Prize link on Amazon

1 Comments:

  • Hi Grant,

    The release of the report caused quite a stir at The Oil Drum. A rebuttal was posted today:

    Does the Peak Oil "Myth" Just Fall Down? -- Our Response to CERA

    CERA is making assumptions that we will get a fair amount of oil from shale. I don't think it is at all clear that we will ever get oil from shale, and if we do, the net energy is not going to be good.

    From my perspective, this is similar to suggesting that there is no energy problem since there is enough methane in the solar system to power us for thousands of years. All we have to do is fly out to Saturn's moon Titan, and fill up from its methane ocean. See, no problem. But like CERA does with shale oil, I am ignoring net energy. Net energy is critical.

    Cheers, and say hi to Dave for me.

    Robert

    By Blogger Robert Rapier, at 7:31 PM  

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