Turnipseed

Peak Oil: A Reality or a Lie?

EROEI is a major factor, not because of economics, but because energy consumed for production is starting to approach energy produced. Recall the corn ethanol fiasco. This will eventually limit tar sands and may keep oil shales from ever becoming feasible.

On Aug 28 03:40 AM perceptions_now wrote:


> It should also be noted, that the EROEI (Energy Return On Energy
> Invested), which was up around 100/1, is said to have slipped to
> 11/1 in 2000 and is continuing to head lower, thus lessening the
> profit motive to increase Supply.

Whither Iraqi Oil?

When I reviewed the geology of Iraq about 15 years ago, it obviously had hugh petroleum exploration potential. Furthermore, these resources likely can be developed and exploited at far lower costs than say offshore Brazil or the Canadian tar sands. All Iraq needs to do is attract capital, and as others have said, that's not going to happen in a big way until political and legal matters are resolved.