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Monday, September 05, 2005


The peak oilers are making a big deal about "See! Even Chevron admits that we're at peak oil!!"

That website is a total load of public relations bullshit, as can be seen from the following timeline:

June 10, 2005: FTC Clears Way for Chevron to Acquire Unocal for $18 BillionSource

June 22, 2005: CNOOC Trumps Chevron's Bid for Unocal
Chinese Oil Company CNOOC Offers $18.5B for Unocal, Trumping Chevron's $16.6B OfferSource

July 5, 2005: Chevron starts advertising blitz... "We're running out of oil!!!"Source

Think about it.


At Monday, September 5, 2005 at 11:27:00 AM PDT, Anonymous Anonymous said...

Insufficient data, Chevron haven’t said ‘We’re at Peak oil’, but most of the companies are starting to say 2020-2025 is a likely PO date at current consumption rates. Most of the darts seem to be hitting the 2010-2015 time frame overall.

It’s a oil company way of saying ‘Look we’re making a bundle load of cash, we’ll need this to develop alternatives,put the rest in our back pockets and fund those pension schemes’. A PR exercise.

At Monday, September 5, 2005 at 5:50:00 PM PDT, Blogger Jon said...

Your have an excellent blog here.

I am so glad that there are reasonable people like you getting the word out that PO does not mean the end of civilization.

For the longest time (well for as long as I was following it, a year) there seemed to be only the 'Fundamentalist' people out there talking about PO. It really put a negative spin on the topic.

At Tuesday, September 6, 2005 at 1:42:00 AM PDT, Anonymous Anonymous said...

The thing is, you ignore the complete picture. Why is Chevron buying out other oil companies? Hmm, maybe that's the best way to make money from the remaining oil, because there isn't enough to just go and find?

have you commented on the declining rates of oil discovery? How much oil do we currently consume as a civilization compared to how much we discover?

Do you know that in 2003 big oil spent 8 billion looking for oil, but only found 4 billion dollars worth?

At Sunday, October 2, 2005 at 10:55:00 AM PDT, Anonymous Anonymous said...

that's because the majority of the world's oil is in places where they can't look due to environmental or political reasons...


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