http://www.triplepundit.com/2008/11/peak-coal-in-2025/ Business, Better. Since 2005 Fri, 10 Feb 2012 04:15:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.triplepundit.com/2008/11/peak-coal-in-2025/comment-page-1/#comment-78901 Sandra Thu, 14 Apr 2011 12:57:59 +0000 http://www.triplepundit.com/wordpress/2008/11/peak-coal-in-2025/#comment-78901 I think the question isn't "abundance" when it comes to peak oil and peak coal. It's how easy is it to find, get to and extract. We've experienced peak oil. Even though only 1/12 of the reserves have been tapped, what's remaining of the large known untapped reserves (with the exception of ANWR) is daunting to get to. You're talking billion dollar platforms, expensive equipment, labor, logistics, etc. In most cases, economic viability of these new deep sea finds is at $70, 80 ... $150 per barrel. So, if you "drill baby drill" without alternatives, you essentially lock yourself into the price at which it is economically viable to get at these reserves, because as much as people want to "drill baby drill", oil services companies won't drill if it is not economically viable for them to do so (as we speak, Halliburton has cut production recently in the US by 50%, because gas prices are too cheap), otherwise they'll lose their shirts. The gov't couldn't afford to subsidize drilling, just so "it happens", just like Venezuela shouldn’t and can't (and they are currently paying the price of that policy – plus that’s just plain socialism / communism, which we know doesn’t work). I think the question isn’t “abundance” when it comes to peak oil and peak coal. It’s how easy is it to find, get to and extract. We’ve experienced peak oil. Even though only 1/12 of the reserves have been tapped, what’s remaining of the large known untapped reserves (with the exception of ANWR) is daunting to get to. You’re talking billion dollar platforms, expensive equipment, labor, logistics, etc. In most cases, economic viability of these new deep sea finds is at $70, 80 … $150 per barrel. So, if you “drill baby drill” without alternatives, you essentially lock yourself into the price at which it is economically viable to get at these reserves, because as much as people want to “drill baby drill”, oil services companies won’t drill if it is not economically viable for them to do so (as we speak, Halliburton has cut production recently in the US by 50%, because gas prices are too cheap), otherwise they’ll lose their shirts. The gov’t couldn’t afford to subsidize drilling, just so “it happens”, just like Venezuela shouldn’t and can’t (and they are currently paying the price of that policy – plus that’s just plain socialism / communism, which we know doesn’t work).

]]> http://www.triplepundit.com/2008/11/peak-coal-in-2025/comment-page-1/#comment-52822 Peak Coal Puts a New Spin on Global Warming Predictions | Triple Pundit: People, Planet, Profit Tue, 10 Aug 2010 08:42:26 +0000 http://www.triplepundit.com/wordpress/2008/11/peak-coal-in-2025/#comment-52822 [...] predictions need to be revised because most of today’s predictions are not accounting for the peak and decline of coal production after [...] [...] predictions need to be revised because most of today’s predictions are not accounting for the peak and decline of coal production after [...]

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