portland independent media center  
images audio video
newswire article reposts global

corporate dominance | energy & nuclear | sustainability

Wall Street Acknowledges Peak Oil

The leading energy analysts who foretold Enron's demise have an alarming new claim: The world's major oil companies are almost tapped out.

 http://www.truthout.org/docs_2005/031505G.shtml
Four years ago, the analysts at John S. Herold Inc. were the first to call bullshit on Enron. On Feb. 21, 2001, three Herold analysts issued a report that said Enron's profit margins were shriveling, the company had too few hard assets, and its stock price was way too high. Less than ten months later, Enron filed for bankruptcy.

Today, the analysts at Herold -- a research-only firm that issues valuations on several hundred publicly traded energy companies -- are making predictions even bolder than their call on Enron. They have begun estimating when each of the world's biggest energy companies will peak in its ability to produce oil and gas. Herold's work shows that the best minds in the energy industry are accepting the reality that the globe is reaching (or has already reached) the limit of its own ability to produce ever increasing amounts of oil.

Many analysts have estimated when the earth will reach its peak oil production. Others have done estimates on when individual countries will hit their peaks. Herold is the first Wall Street firm to predict when specific energy companies will hit their peaks.

Since last fall, Herold has done peak estimates on about two dozen oil companies. Herold believes that the French oil company, Total S.A., will reach its peak production in 2007. Herold expects 2008 to be critical, with Exxon Mobil Corp., ConocoPhillips Co., BP, Royal Dutch/Shell Group, and the Italian producer, Eni S.p.A., all hitting their peaks. In 2009, Herold expects ChevronTexaco Corp. to peak. In Herold's view, each of the world's seven largest publicly traded oil companies will begin seeing production declines within the next 48 months or so.

Executive vice president Richard Gordon, who heads Herold's global strategies team, says the firm's goal in doing peak-production estimates for individual oil companies is simple: "If the dinosaurs are going extinct, we are trying to figure out which ones are going to go extinct the soonest."

[CLICK LINK FOR REMAINDER OF ARTICLE]

homepage: homepage: http://www.truthout.org/docs_2005/031505G.shtml

peak schmeek 16.Mar.2005 02:22

.

peak oil is unprovable. It's just a lie. 1000 articles spinning peak oil are still only 1000 articles spinning peak oil. The assumption that peak oil has been proven is the sand that it all is built on. It never has.

On the other hand, abiotic oil is scientifically provable in its chemical pathways...

In a nutshell 16.Mar.2005 03:26

MM

Will the great tribulation start Oct. 13, 2004 ? Answer is here. 
 http://www.abovetopsecret.com/forum/thread85813/pg1

the illuminati, exposed in the CNN Kosovo Board, March 24, 1999 
 http://www.abovetopsecret.com/forum/thread81099/pg1

Oil Prices - Why has Wall Street missed it so badly ? Elementary school students can understand the answer, October 2004
 http://www.abovetopsecret.com/forum/thread89731/pg1

In a nutshell 16.Mar.2005 04:01

MM

Will the great tribulation start Oct. 13, 2004 ? Answer is here. 
 http://www.abovetopsecret.com/forum/thread85813/pg1

the illuminati, exposed in the CNN Kosovo Board, March 24, 1999 
 http://www.abovetopsecret.com/forum/thread81099/pg1

Oil Prices - Why has Wall Street missed it so badly ? Elementary school students can understand the answer, October 2004
 http://www.abovetopsecret.com/forum/thread89731/pg1

Stupid Headline 16.Mar.2005 07:50

.

"Wall Street acknowledges Peak Oil" what a joke! That's like saying Bush acknowledges Bin laden did 9-11. Why would anyone care that Wall Street agrees with its banker elite propaganda misters?

Wall Street is quaking in its wing tips 16.Mar.2005 10:46

Moor

Right now, 1:46 EST, Exxon Mobil, Conoco, BP and Royal Dutch are all on the plus side in NYSE trading. Peak Oil should be renamed "Peak Profits."

"Moor", schmoor "." 16.Mar.2005 17:00

kilroy

Lemme get this straight . . .

if a Wall Street consulting firm has rated:

Total S.A.
Exxon Mobil Corp.
ConocoPhillips Co.
BP
Royal Dutch/Shell Group
Eni S.p.A.
ChevronTexaco Corp.

as peaking their outputs within the next three to four years -

(and Royal Dutch/Shell already embroiled in scandal from their shareholder oil reserve estimate downgrades  http://observer.guardian.co.uk/business/story/0,,1396385,00.html)

care to please explain WHICH CORPORATIONS are going to "provide" our petroleum products at affordable prices?

Perhaps it'll be opinionated, baseless-clueless internet mavens JUST LIKE "Moor" and "."

Sacred Cows 17.Mar.2005 02:46

Moor

Does the stark reality of Wall Street cynicism ruffle your technocratic feathers, Kiljoy? My mini-report was meant as irony. But, if you haven't looked lately, the awl bidness, under the benevolent watch of the Arbusto Junta, has realized booming profits over the past couple of years.

Think about the difference between concepts like "non-renewable" as opposed to "non-recoverable," or better yet, "not-willing-to recover." Think about concepts like the "oil transaction currency standard," and relate it to the falling dollar against the euro. I mentioned that "Peak Oil" should be renamed "Peak Profits." An even better term would be "Peak Dollars."

Sorry, if there are other ideas out here that challenge your Peak Oil, Rapture mantra. Also, what exactly do you mean by "affordable price" for "our petroleum products"? Please expand and relate your calculations to real operating costs in the awl bidness.

And, what are you willing to do to get to these affordable prices? Will you demonstrate in the streets like the Indonesians? Or, is that too much of a bother for you? Why don't you start a political action group that will lobby all levels of government to repeal their sales taxes on gasoline? With total repeal, we would expect a 20 - 30% drop in price at the pump.

"Moor", "schmoor" the know-it-all . . . 17.Mar.2005 21:17

blah blah blah, blah-blah blah___________________

"Does the stark reality of Wall Street cynicism ruffle your technocratic feathers, Kiljoy? My mini-report was meant as irony. But, if you haven't looked lately, the awl bidness, under the benevolent watch of the Arbusto Junta, has realized booming profits over the past couple of years."

PROFIT is what CAPITALISM (ever heard of it???) is all about. we need no lectures about monetarism here. and it's pretty easy for any person with beyond-3rd-grade education to understand that the US is officially - in Blood, Contract, and Family Name - run by OIL CORPORATIONS since November 2000.

P.S. - are you attempting to insinuate that I'm some kind of "technocrat" (whatever that really is supposed to mean)?? More likely you're the one drawing such a paycheck, judging from your ramrod-up-the-ass rhetoric and intellectual indignance.

"Think about the difference between concepts like "non-renewable" as opposed to "non-recoverable," or better yet, "not-willing-to recover." Think about concepts like the "oil transaction currency standard," and relate it to the falling dollar against the euro. I mentioned that "Peak Oil" should be renamed "Peak Profits." An even better term would be "Peak Dollars.""

--BIG on "concepts" arenTCHA, "Moor"?

(see previous comment, above)

There's plenty of reposted information - on this site and elsewhere - concerning the Iraq invasion by the US precipitated to fend off an impending collapse of the US Dollar, plus global oil trade vs. Euro. nothing new there, "Moor" and you've *****NOT***** shown yourself to be ahead of the 8-ball by namedropping it.

 http://ming.tv/flemming2.php/__show_article/_a000010-000538/

"Sorry, if there are other ideas out here that challenge your Peak Oil, Rapture mantra. Also, what exactly do you mean by "affordable price" for "our petroleum products"? Please expand and relate your calculations to real operating costs in the awl bidness."

--"mantra"??????!???? Nothing of the sort . . . unless of course, you're intimating your OWN " . . . Peak Oil Does Not Exist . . . Peak Oil Does Not Exist . . . Peak Oil Does Not Exist . . . " "mantra".

"And, what are you willing to do to get to these affordable prices? Will you demonstrate in the streets like the Indonesians? Or, is that too much of a bother for you? Why don't you start a political action group that will lobby all levels of government to repeal their sales taxes on gasoline? With total repeal, we would expect a 20 - 30% drop in price at the pump."

--it won't be ME, "Moor". do you think the average Amurrikkkan Hummer-Driving EggMcMuffin-Chomping Couch Jockey is going to "demonstrate in the streets" ABOUT ANYTHING? No, gasoline prices will simply reach a certain level at which ONLY A *****CERTAIN CLASS***** of Amurrikkkans will actually be able to procure/purchase/obtain/barter for gas in their tanks (the "rest" can fend for themselves when prices and supply get tight.) Remember - the U.S. is economically Quite Different from other Earth nations.

Automobile Fuel (READ: PETROL) prices are only ONE (1) component of the total petrochemical dependency. There's also natural gas prices, raw plastics, packaging and food container prices, food transportation prices (and corresponding grocery prices), heating oil prices, etc.


PEAK OIL IS A MYTH! 18.Mar.2005 08:34

and is also really inconvenient for my lifestyle

the EARTH is COMMITTED to supplying me with ALL THE GAS I CAN GUZZLE at TWENTY DOLLARS A BARREL

FOREVER!!!

Jesus said so, I believe it, that's all there is to it!

And if I don't keep getting my juice on time at the price I'm used to, it's a GODDAMNED CONSPIRACY!

And anybody with any questions about my reasoning is a GODDAMNED TROLL on the GOVERNMENT PAYROLL!

YEAH THAT MEANS YOU! SHUT UP TROLL!