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Russia hits peak oil

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Russian oil has peaked already according to Leonid Fedun, vice-president of Russian oil giant Lukoil.

Read the whole thing at the article link. While Russia may not be the primary supplier of oil for the world, consider that in time, every supplier will run into a 'peak' moment, where it realizes it will never produce more oil per month than before.
yonie

17 responses // Russia hits peak oil

  • Russia is hitting peak oil along with every other exporting country. Meanwhile, the consuming nations appetites aren't anywhere near peak. This is troublesome.
    jinkies
  • Very worrisome indeed. If most countries start to reach peak oil production most, if not all, will turn their attention to the Arctic in a free-for-all on who gets to control the next big oil field. A part of me hopes that mankind can learn to share and share alike. However, I'm not putting much weight in the idea. Here's to the future of our oil dependent world.
    natenate
  • It certainly hasn't peaked in the Caspian Sea Basin where the reserves are huge and largely untapped.
    Vierotchka
  • Regardless, the oil will run out one day...then sadly we're in trouble.
    Greg_Bunker
  • We are in serious trouble when the oil runs out, unless more money is set to finding alternative fuel sources, and the worlds smartest people get together and discuss where we go after oils abundance starts dwindling.
    justwannafindmytrue
  • who cares if the oil runs out. the sooner the better I say. what we should be worrying about is when environmental hospitality will run out.

    Life runs on current sunlight, we have overstepped our bounds by indulging in the ancient sunlight.
    stephenthomson
  • hey now there's smarts for ya!
    tjflywheel81
  • wow stephan, very, very well said
    theammixman
  • Dont you love the things technology has done for us? weve lost sight of unity and trust, we are dependent on machines, and we waste billions on nonrenewable resources. I agree with stephen, let it burn out, and then natural selection can finally kick in.
    sagewho
  • Is this a big enough wake up call? Honestly why is our species so stubborn?
    ipodrulz
  • Air conditioning? Well over 90% of the world's population doesn't have air conditioning and do just fine.
    Vierotchka
  • Hmmm, one of the richest men in the world, who owns an oil company, tells us it's "peaked"....Does that mean prices will go up? Does that mean he'll make more money?

    Scarcity fears usually drives prices up...market psychology is good like that. Cha-Ching!

    Chavez says he has plenty...

    Chavez Guarantees Latin American Energy Supply for 100 Years

    http://www.bloomberg.com/apps/news?pid=20601086&sid...
    JT247
  • The point I am trying to make isn't about A/C. When I say we'll be in trouble I mean that I don't think the human society is independent enough to survive without oil at the moment. Seriously now, sure we can revert to sailboats but do we really want to do that?
    Greg_Bunker
  • That's why we need alternative fuels, and not like in the future, but now.
    Swiyyah
  • We'll consume it till its gone. We know it's bad for us, but it's a habit that I can't see us kicking. I suppose we'll have to go cold turkey when it all runs out though...
    phillyharper
  • MRsmithers,

    There is no malaria, deunge fever, yellow fever, west nile in Europe and guess what? Most people there don't have A/C.
    Using A/C is an American mania but I never had one and doesn't need one. If it's hot then it's hot. A/C is for wimps.
    stardate

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