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Peak What? The Fraternal Order Of Papagayo

|Includes: OIH, Energy Select Sector SPDR ETF (XLE)

My three favorite peak oil theorists are "repetir como un loro" or papagayo. So we feel the urge to break out the "ugly theory" stick and put it to good use.

RC is at it again:

"You want proof that Peak Oil has occurred :Here's one chart and one question: The gov't data chart no one talks about:

BECAUSE ALL THE OIL WITH AN API OF 35-40 HAS BEEN USED UP. Just wait until Naybob has to pay $10-20 a gallon at the pump. Nattybooby doesn't want to discuss Peak Oil. He's in denial like most in the oil&gas industry. It's people like you ... nattybobby ... who are turning the USA into a third world country. Last note, Naybob go drill for oil in your underpants. "

Mature responses indeed...but typical. When asked to prove their theory, this is the best that peak theorists have to offer, nothing. The data shows that we have been importing extra 20- 25 api since 2000, but there has been a corresponding decrease in the 35-40 api weight. This proves nothing as to how much actually remains in the ground. You assume too much and stretch anecdotal data to suit your agenda.

"BECAUSE ALL THE OIL WITH AN API OF 35-40 HAS BEEN USED UP" Yeah and there's no more to be found either, right... Please no more gravy "Jerry", please stay off of the gravy...

All I keep hearing from this fraternity of parrots is the same narrative of unsubstantiated claims over and over , "there is no more light sweet crude to be found and its all been used up"... funny thing is, the statistics don't prove that.

FYI, now its $10-20 a gallon to join the club??? I took that club and gave your fraternity a beat down at $5 a gallon right here and in every missive I've ever penned.

Give it up, Hubbert's army of acolyte parrots can't prove squat. The only truth is, if you would quit squawking and collectively hold your 2nd index fingers vertically over your closed beaks and go, shhhhhhh, for a couple of years, the price would keep going down.

Jerry is at it again.

"The only thing wrong here is you. And why are you lying? Hubbert correctly predicted conventional oil peak. With a 300% oil price rise clearly shows crude has peaked. If you'd bother to read his books you might learn something instead of proving you don't have a clue by your posts. Why don't you like actual proven facts?"

Lame, but expected Ad hominem clap trap. When King Hubbert's acolytes are faced with opposition through critical thinking they often launch ad hominem attacks, which exhibit mental and intellectual weakness. And again, the irrelevant price contango that "proves" a peak?

Regardless of the repetitive falsehoods that Hubbert's army of acolyte parrots keep squawking, they and King Hubbert have never correctly predicted anything; have been proven wrong at every turn and can never prove their theory.

At least I have a clue and won't be used as a tool or pawn in the effort to extract, not the ocean of oil we have, but hard earned money from my pocketbook by an industry fed pack of charlatans and dupes. Get over it and quit performing a pecuniary social disservice that benefits the oil insiders and has cost us all a barrel o money (no pun intended).

David is at it again...

"You have not responded to the issue. If the price... You are correct that I have asked that question a great many times. The only answer that is provided is just so much hand-waving. Your own answer is not a response but an avoidance. I will stop asking it once someone provides a reasonable answer. The simple fact of the matter is that there is no response, that there is no more sweet, light crude to be pumped. the hydrocarbon industry knows full well that conventional sweet light crude oil production peaked years ago."

David, well there you go again. The simple fact of the matter is, other than Hubbert's army of acolyte parrots, there is no hand waving or avoidance to be found.

Again, the facts have been availed on many an occasion, but you refuse to listen, acknowledge or understand because it does not suit your agenda.

1. Price can never prove how much oil remains in the ground.

2. Until someone proves Hubbert's theory through credible science, it remains an unproven theory.

3. I have cited credible science and industry data in many missives, proving the fact that we are pumping more C&C and liquids than ever before.

Asked and answered again in no uncertain terms. And now, so that you shall know what it is like, I will wave my hand at you... class is now, dismissed.

The Nattering One muses... The discussion becomes simpler, but only if this fraternity of parroting acolytes are capable of understanding and acknowledging the reality and truth.

Anyone not understanding or acknowledging the facts and truth has fallen victim to hynosis, psychosis, medication contraindication (vicodin, ritalin?) or the pernicious global plague of stupidity.

All I see and hear from Hubbert's theorists is unsubstantiated, incorrect industry rumors and anecdotal data. Predicting peak oil is like predicting the apocalypse. It's a nice sounding theory to some, but there are just too many math errors and date changes.

King Hubbert worked for Shell Oil for over 25 years. What better theory to come up with to goose profits? I guess there's no conflict of interest there? I wonder if they rewarded him appropriately? If so, I wonder what his price was? Speaking of price, the only discussions regarding price to be had are:

economics (production, supply and demand)

technology (process, methods, improvements)

discovery (new sources, alternatives)

politics (government, taxes)

profit motives (industry, cartels, markets)

There are many caveats to these factors which generally affect field and refining production squeezes, and thus move price. Again, none of which has anything to do with how much oil actually remains in the ground.

As for the incessant squawking, all I can figure is the parrot food must have a neuron receptor blocking quality.