World oil supply debate between ex-Shell chief and ASPO-USA professor


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    Video of a spirited debate on peak oil between John Hofmeister (Shell) and Ted Patzek (University of Texas and ASPO-USA). The former president of Shel
    [See the full post at: World oil supply debate between ex-Shell chief and ASPO-USA professor]


    I thought Hofmeister was like listening to a politician. Sweeping generalizations, feeding into the national anti-government mood, lots of promises of a very rosy future and, most of all, let the oil companies do as they please.


    I agree Eugene.

    I’m only half way through and I really wish it could have been Stoneleigh up there utterly dismantling the Shell exec’s flimsy logic. I like Tad, he’s a smart and well-meaning fellow, but it seems that he’s reluctant to really lay it out for the audience:

    This here, this the SHIT. IT is bigger and nastier than anything the global economy has ever witnessed, and absolutely inevitable. This, this is the giant fan, it is the only thing standing between the SHIT and 3-4 billion people who are soon to find themselves up a creek without a paddle. Get yourself a paddle, and get the $%^& out of the way.


    At one point Mr. Hofmeister mentioned that Americans are paying for the fact that the Saudi King had bought social peace by -in effect- spreading the oil wealth around a bit more in his country. His presentation of it made it sound -on purpose I think- like Americans were somehow being swindled or victimized in the process by some towelhead. What would they prefer, that the Kingdom disintegrate from internal chaos just that much sooner thereby eliminating all access to Saudi oil?!? This is just more of the “how did OUR OIL get under THEIR sand” attitude of entitlement that so endears Americans to people of other countries around the world these days. Americans are being victimized, but not by the Saudis, rather they are victims of their own blind addiction to imported fuel. The Saudi King has every right to do whatever he wants with his money and charge whatever he damn well pleases for the oil he sells to get it, and his subjects are FAR MORE entitled to getting a cut of that action than American motorists are entitled to perpetually cheap gas so they can keep livin’ large while they run down to the 7-11 in the Suburban for a brew on their way to junior’s soccer practice. Oh! what a glorious crash it is going to be.


    The only way I can describe Hofmeister is to quote Bugs Bunny; “”What a maroon, what an ignoranimous!” I have to say it was especially painful listening to his closing remarks. The guy obviously talks out his arse without the benefit of fact or notes. Hey Johnny, $7.00 – $8.00 gasoline/diesel? Yeah, so what? I’ve been paying that here in Europe for 6 years. Of course, unlike America, no one here drives a vehicle that weighs 5000+ lbs., has a 5+ liter engine, makes enough horsepower to tow a small house and gets crappy mileage. And that’s just to take their whale butts to work. We also have something called high prices for consumer goods (blame energy taxes). What that means is we consume less. For most each purchase is based on need, not want. And we fix things here, what a concept! I know North Americans would find these horribly difficult circumstances absolutely unacceptable. Especially the Hofinator.

    Tad is right, American whales will become dolphins, like it or not.

    BTW Mr. Dumeister – NASCAR stock cars don’t burn methanol, they starting using an 85/15 gasoline/ethanol mix just last year Before that it was simply high-octane unleaded gasoline. Indycar uses methanol.


    The real problem is that the US has been divided into 2 sides, a North and a South, just like the Civil War. The South (less liberal) wants energy at some environmental cost and the North (more liberal) wants to maintain an existence with no environmental impact at all. The North thinks that this environmental cost is too high and the South thinks that we will all starve if this price is not paid.

    In reality, the amount of oil I use to heat my home and run my car is inconsequential in comparison to the amount of energy used to run industry, keep me employed and grow my food.

    Industry and farming spends every waking hour trying to lower costs and by definition, energy usage.

    Thus, I vote for more drilling until such time as we find alternate sources of energy to fulfill our needs. If we never find those sources of energy welcome to the 1800s and the population that it could support.


    “At one point Mr. Hofmeister mentioned that Americans are paying for the fact that the Saudi King had bought social peace by -in effect- spreading the oil wealth around a bit more in his country. His presentation of it made it sound -on purpose I think- like Americans were somehow being swindled or victimized in the process by some towelhead. What would they prefer, that the Kingdom disintegrate from internal chaos just that much sooner thereby eliminating all access to Saudi oil?!?”

    IF I recall, Hofmeister stated that the majority of countries have insane policies and are not effectively managing production. While this is undoubtedly true, I got the feeling Hofmeister – and probably the US policy planners – would not at all be opposed to having the US eventually take over the production of Iran, Saudi Arabia, the ‘stan countries, etc. Kind of Cheneyesk, you might say. And by the looks of things, that is exactly where this is going. Our military is definitely laying the ground work for such an undertaking and has been for several years now. Plunder the population, extract resources, and take profit. But none of the spoils will find their way to the general public.


    There are some new sources of energy and fuel. Carbon Sciences (CABN) has improved catalysts for turning Nat Gas + CO2 into liquid fuel. For heat, which takes a high percentage of energy there is the “cold fusion” reaction of E-Cat which should be available to buy this year. This can also be used for CHP after further development. Combine this with higher efficiency and we might have a chance. Remember that using more oil will continue to accelerate global warming.


    Yea, right! If only the US was bright enough to take over some oil producing countries. Look at Iraq, 100s of billions spent there and I cannot think of one US oil company that has obtained an oil lease there.

    I also found the statement concerning payments that the Saudi King made to his people strange. It inferred that the rights to the oil belonged to the US. Saudi Arabia can do what ever it wants to do with the oil income.


    Cold Fusion——-What a laugh. I have some magic beans for sale if you are interested.


    Cold Fusion debate? I’d like to see it…don’t know much ’bout it.


    A scam artist named Rossi claims to have developed a multi megawatt class cold fusion device that runs on Hydrogen. He claims that it just costs a few dollars a year to run.

    If he had such a device he would be a billionair overnight. GE and others would buy the rights and be selling the product as we speak. Natural Gas and Oil futures would be selling for next to nothing.

    This is a total scam perpetuated by a scientifcally ignorant press.


    Time to step up Babble…unless you want us to consider that maybe you are just googling.


    Hofmeister spends some minutes denouncing OPEC as the most evil cartel in the history of evil, but then utterly fails to identify the Fed as a cartel. According to him, the Fed is an ‘independent regulatory agency’, and he mentions how it effectively solved the small problem back in 2008, hilarious dissonance.
    Central planning of energy should dictate the flow of innovation for the industry, he says. I always assumed that innovation cannot be planned at all.


    “OPEC, were it present in the United States, would be declared illegal” Oh, noes, he wants to lock up the Texas Railroad Commission! That was the business model for OPEC, back in the ’50s.

    The Hoff sounds like Rush Limbaugh, pounding on the lectern and ranting about “American Exceptionalism”. And he’ll go off in six or seven irrelevant directions about the hydrogen economy, tar sands, hydrofracking, biofuels, coal conversion, etc. with a total absence of facts or analysis.

    Haha, then he goes on to congratulate the financial industry for its central planning!
    – Oil industry, central planning bad;
    – Financial central planning good.
    … got it.


    This morning the price of regular was $3.79.9 up some 24 cents (+6%) in the last 12 days.


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