Peak Oil in 2012? Saudi Arabia's Oil Overestimated by 40%, Wikileaks Reveals

royulery, you put in on the spot, production quotas were based on proven reserves of which all lie about to pump out as much as possible to make money. Production of 28 out 33 oil producing countries has declined for three years, this is a fact. With that is mind peak oil came already, oil companies are playing a speculation game and they are leaving the world in the lurch when oil production starts its fast decline which will be soon. And I tend to believe the financial resources the oil companies have will leave them enough to change over production to ethenol very quick, and bio mass or sugar cane both work well for ethanol sources. Brazil is energy independent between their own oil and sugar cane ethanol manufactured along with natural gas which they also have vast reserves

the arabs have a saying "my father rode a camel, i drive a car, my son will fly a jet, my grandson will ride a camel"

i've worked on drilling rigs and i studied geology to become a petrologist but became a gemologist. my sources say we are at peak oil now.
there wasn't a over estimation, it was an outright lie. oil is one of the few thing that we know exactly how much and where it is. seismic graphs are very precise when it comes to fluid pockets and the whole earth has been sonogramed over and over. a country is allowed to sell a percentage of it's reserve so everybody lies so they can sell more. countries like venezuela have doubled their estimate even though they are tapped out. some believe peak oil happened in the 70's but it was hidden by over drilling.

For me the "investment" in a EV or hybrid is difficult to justify since its three miles from my home to work. I am considering getting a mule or donkey when I am ready to make a change or to make a statement. A horse would be too bourgeois. And I don't like the smell of them.

I have a solution/cure for this upcoming crisis. Hemp oil and electricity.

They probably are, just like they are lying about oil being "fossil fuel" to make people think that it can run out so they can jack up the prices.

They are probably lying to jack up prices.

Now we know why gas prices have spiked and why we had the market crash.

Some investors got into the know and found out about this in 2007.

It is also why the elites are hoarding wealth and gold. They want to protect themselves and leave the rest of the world to devolve into chaos.

If we do not band together and take back our wealth so we can fix this asap humanity is doomed to another dark ages.

We are about to see some crazy times. Brace yourself for insanely high prices for EVERYTHING.

in one sense many of us must think "oh what glorious fortune, the oil business faces collapse" while the more observant of the crowd must realize this is one of many signals all sorts of unimaginable looming catastrophes facing the earth.
We based our entire way of life on petroleum and by centralizing our societies energy we are now confronted with an ecological and social collapse that no nation can handle in with traditional tactics.

From anecdotal experience emerges the perverse logic that we can use the markets to solve our energy problems despite knowing it was a market economy that turned earths resources into a commodity to be consumed in the first place. I had this revelation on a recent trip to San Francisco among citizens who praised the idea of shifting consumer attitudes to persuade manufacturers to change their products.. so great neo-liberalism is our salvation, but sadly it just makes for the setting of a potentially dystopian future. Worse yet at the moment our other alternative solution in practice is to limit ourselves making the problem an individual one which as consequence removes responsibility from society to the supposed few "bad guys"... I call this reasoning "captain planet logic".

One must ask the philosophical question, how insane on a planet that receives more energy from the sun than it ever will use that we must impose limits on energy consumption? We shouldn't limit energy we should have a paradigm shift into society that makes wastefulness and pollution virtually impossible through efforts of society. Neither should try to impose an eco value on each other but rather create a society who takes a collective role as stewards of the earth while pursuing advancement. I know this can be misinterpreted but I can only hope i got the point across. I wont provide solutions and ask all who care to take the philosophers method and question everyone to challenge their worldviews, only then can we truly have answers.

Sadly my worst fear is that we'll continue until we're on the brink of extinction and our governments will enact emergency measures in order to save humanity. This quote illustrates a possible future:

“Man would live in a plastic bubble that would protect his survival and make it increasingly worthless … People would be confined from birth to death in a world-wide schoolhouse, treated in a world-wide hospital, surrounded by television screens, and the man-made environment would be distinguishable in name only from a world-wide prison.”

The Saudi's have been overestimating reserves for years as production is linked to reserves. So now everyone will know the truth, peak oil is here, and gas will be 4 dollars a gallon by summer and five or six by 2013

Is Mad Max far away?

Try this...http://www.sherylcrow.com/player/default.aspx?meid=2936
Prophetic ain't it.

The time to change is clearly now! We need to run from oil and towards any and all renewable energies the prices will drop once we get on board.

Food riots. Get ready. But unfortunately this isn't as important here as some other things now.

Oil reserves are considered a national secret and are not open for public disclosure.

Twilight in the Desert
-- Matt Simmons (recently deceased)

For those still wondering if an investment in a hybrid or electric car is worth it, I would venture a guess and say yes. Personally, I would go with the Nissan Leaf. The only way this country will become independent of Foreign Oil is by its individual citizens making themselves independent.

Solar panels on the roof, with a Leaf in the garage. Congratulations, I get free mileage out of my car. Wonderfully, blissfully, not worried about gas prices.