When will oil production reach the hubbert peak and how do we prepare for $100 barrel oil?
84095
We'll spend $6 or $7 a gallon for gas because:\n\n- We're willing to.\n- Supply and Demand will dictate that price or higher.\n\nI saw a segment on 60 Minutes a couple weeks ago about huge reserves of oil in Canada. The reserves reside within soil.
16598
2006 will be a very interesting year as Peak Oil should come into play. There will be a day where oil price will have a super spike day. We are running out of oil. Yes, I know that we have 40-50 years of oil left but we don't have to wait till the last drop to see expensive petrol prices. I don't think next year is a good year to invest in common stocks. Go study Peak Oil and invest into oil related stocks.
474948
Well, it won't run out completely, but it is projected that demand will outpace production within that time frame.  This is based on Hubbert's Curve and if you're interested, try researching Peak Oil.  Regardless, when demand outpaces consumption, expect the price of gasoline, and anything else associated with petroleum, to increase in price drastically.
873620
If they release oil reserves every time the price rises a little it will go down, but we will pay for it dearly when the oil producing countries see that our reserves are getting low. Six years ago our reserves were at an all time low. We held our own for a while but eventually the suppliers realized we didn't have backup and that's how we reached the all time high prices. Several months ago the reserves were in the ninety percent range and that is when it finally started dropping. If they do use the reserves properly gas prices will remain stable. If it does drop dramatically look out we will pay for it later.
1056073
It is a real concern, but whenever someone makes a prediction about when a country of the world will reach peak oil output, they do so with what then is considered a researve.  As the cost of a barrel of oil increases, sources for oil that were once not considered a researve then become on because at that cost it is economically viable to recover it.  With the recent spike in oil prices, North America can now clasify the tar sands in Canada and the oil shales in Colorado oil researves, and that being the case, it is estimated that in the US alone, we now have more economically recoverable oil then Saudi Arabia, the worlds largest exporter.  As the price continues to increase, other marginal sources will become economically viable.  Sooner or later, we will reach a point where there simply isn't enough oil available for any price, but that is still a ways off yet.  I believe that before we reach that point, oil will be more expensive then alternate fuel sources.  Through simple economics, I believe that people will begin using these alternate fuels simply because they are less expensive.  I believe that the high cost of oil will spawn invention and inovation into the energy sector, and I believe that has already begun.  We are working on increasing production of biodiesels and ethenol, and there is increased research into fuel cells and electric autos.  I think the future lies in hydrogen burning technology personally.  We already have engines that burn Hydrogen, but we're still working on the fuel tank dilema.  So, for a long answer, I believe that there is and will be time. I'm looking foward to being put out of buisiness.
330706
Optimum is relative.  Current production is probably sort of close to optimal for the OPEC countries in terms of profits.  It's not optimal in terms of social welfare or price.\n\nIt can probably go up to a few hundred dollars a barrel before people finally get the idea that it might be a good idea to start looking at alternative sources of energy.  The problem is that there are millions of cars out there that run on gas, and it's impossible to get them to switch to, say, hydrogen power overnight.  So, the demand is going to increase over time.
1073035
no such thing as endless oil.  Sooner or later will run out.
365479
At some point (are we already there?) we will hit what is called peak oil, meaning we will pump more oil that year than was ever pumped or will ever be again.  Then, unfortunately, things will get scary as we are compteting with India and China for oil.  What happens if China makes a move on the oil fields in the middle east?  Are we going to go to war for it?  This doesn't have to come about if our government actually plans for this by funding research into alternative fuel sources.  We can't wait for government, though.  We can change the way we live - enough with the SUVs, turn your heat down, ride (God forbid, if you're an American!) your bike to the store, ect.  Small changes can actually add up if we all do it...or even if 10% of us do.  The key is starting now...not when its already a crisis.
292195
Hubbert's peak has a good chance of being real. Check out the following link for more information:\n\nhttp://en.wikipedia.org/wiki/Hubbert%27s_peak\n\nYou could cope better in a number of ways. \n\nYou could buy shares of oil exploration/drilling/refining companies that would likely enjoy higher profits as gas prices increase.\n\nYou could live close to town and to work so that you could rely on automobile usage less. The less you drive, the less the price of gasoline will directly affect you. Hybrids are promising technology, but the cost differential between regular and hybrid cars is large enough to make them uneconomical for many people. This will change over time though.\n\nPersonally, I drive very little, so the price of gasoline is a miniscule portion of my income. It would not affect me too much.\n\nGasoline, after correcting for the loss of value of the dollar is still significanly cheaper than it has been at many points in time, including the 1970's. People survived then, they will survive with gasoline that costs three times what it does now.\n\nDriving for pleasure may decrease, so if your income is dependent on tourist traffic, I would consider the possiblity of checking out another field if you are concerned.
428048
I heard on the discovery channle not to long ago that if we keep using oil at the pace we are.. we'll run out in about 20-25 years.\n\nThat is if they don't find anymore oil to put wells on
93927
It's really not a matter of whether you believe in peak oil or not. It is just a matter of fact that anytime you are using a natural resource at some point you will have used up half of all that is available. As to when that half way point will occur, we have to wait and see. As is usually the case, we will not know exactly when it has happened until we can look back at the historical data.
291353
You might be able to find something at the Energy Information Administration.\n\nThis site also gave some good info.\nhttp://repositories.cdlib.org/cgi/viewcontent.cgi?article=2922&context=lbnl\n\nFor info on Oil projections. \nhttp://www.neatideas.com/oil.htm\nor\nhttp://www.imf.org/external/pubs/ft/weo/2005/01/chp4pdf/fig4_6.pdf#search='oil%20price%20projection%202006'\n\nHope they help.
1056033
The Project for a New American Century is about to fall apart.  The world is headed back to a multi-polar world, not very stable and it will be compounded by the loss of the dollar as the reserve currency of the world and the peaking of oil.  We're in for a bumpy ride. :(
299625
This country needs to start becoming more self sufficient when it comes to oil supplies.  We have vast oil reserves both in Anwar and other places in the USA.  Sooner or later we must lose our dependency on fossil fuels completely but until then we at least need to end our dependency our foreign oil.  We stopped drilling during the 70s because of concerns with the environment.  Our technology has advanced enough now that I am sure we could drill and refine oil with out destroying our country.
463011
No, profits are the American way. I doubt you were even born when the oil companies were struggling back in the mid-seventies and early eighties. Aquisitions and mergers have made them some of the strongest American companies.\nThere are now more known oil reserves world wide than ever before. There is also more demand than ever before. Hence oil is over $72 per barrel. We could get all we need from the Canadian oil sand deposits and it would be cheap. But it is being shipped around the world.\nFigure that
478800
WRITE CONGRESS AND THE SENATE AND ASK WHY THEY WILL NOT RELEASE OUR OIL RESERVES???? THIS WOULD HELP BRING DOWN THE PRICE OF GAS!!! ALSO ASK WHY WE HAVE NOT BUILT ANY MORE REFINERIES IN DECADES!! THE OIL COMPANIES PURCHASED ONE A FEW YEARS BACK AND SHUT IT DOWN AND REFUSE TO OPEN IT AGAIN!!The soaring profits have already attracted the attention of many members of Congress. On Tuesday, House Speaker Dennis Hastert warned companies that any price gouging is "unacceptable, and any company who does it will be prosecuted." He urged the oil companies to explain to the American public what they are doing to bring down the cost of oil and natural gas. And he urged them to build new refineries and pipelines. THERE HAS BEEN NO NEW OIL REFINERIES BUILT IN THE USA SINCE 1976! WHY HUGE PROFITS AND THEY WON'T DO ANYTHIGN ABOUT IT!!!
174749
They are planning for a time when the oil runs out.