| − | '''Peak Oil''' is the theoretical point when peak global oil production will have been reached. According to some scientists, global oil production will begin an irreversible decline and less oil will be available with every passing year. Energy experts no longer debate about whether the peak will occur, but when.<ref name=Fox20060428>Ker Than [http://www.foxnews.com/story/0,2933,193624,00.html Experts: Global Oil Production May Peak Soon] April 28, 2006 [[Fox News]]</ref> | + | '''Peak Oil''' is the theoretical point when peak global [[oil]] production will have been reached. According to some scientists, global oil production will begin an irreversible decline and less oil will be available with every passing year. Energy experts no longer debate about whether the peak will occur, but when.<ref name=Fox20060428>Ker Than [http://www.foxnews.com/story/0,2933,193624,00.html Experts: Global Oil Production May Peak Soon] April 28, 2006 [[Fox News]]</ref> |
| | Global oil production will peak sometime between 2008 and 2018 and then decline, according to a controversial new model developed Swedish University of Uppsalla physicist Fredrik Robelius.<ref name=Fox20060418>Melinda Wenner [http://www.foxnews.com/story/0,2933,266764,00.html Study: 'Peak Oil' Will Be Reached by 2018] April 18, 2007 [[Fox News]]</ref> According to a recent U.S. Government GAO report, world oil production will peak between now and 2040<ref>[http://www.energybulletin.net/28016.html Coverage of the GAO peak oil report] Energy Bulletin, Mar 29, 2007</ref> | | Global oil production will peak sometime between 2008 and 2018 and then decline, according to a controversial new model developed Swedish University of Uppsalla physicist Fredrik Robelius.<ref name=Fox20060418>Melinda Wenner [http://www.foxnews.com/story/0,2933,266764,00.html Study: 'Peak Oil' Will Be Reached by 2018] April 18, 2007 [[Fox News]]</ref> According to a recent U.S. Government GAO report, world oil production will peak between now and 2040<ref>[http://www.energybulletin.net/28016.html Coverage of the GAO peak oil report] Energy Bulletin, Mar 29, 2007</ref> |
| | Thomas Gold at Cornell University, assert that the sources of oil may not be “fossil fuels” in limited supply, but instead [[Abiotic oil|abiotic]] in nature (meaning not produced by a life process). According to Professor Gold, oil is produced by an abiogenic process, deep within the earth. The scientific community has not been eager to affirm this thesis. In fact, they tend to resist it. In 1992 Gold published a paper titled “The Deep Hot Biosphere.” In this paper he suggested that oil is non-biologically produced, deep within the earth. In other words, oil is not a fossil fuel. The Department of Energy refused to fund his research although both outcomes would have been good - If the research uncovered sources of oil that did not take millions of years to produce, it would be a bonanza for oil companies . If abiogenic petroleum sources are found to be abundant, it would mean Earth contains vast reserves of untapped petroleum. On the other hand, if his research failed, this research proposal will contribute strongly to fundamental science in petroleum engineering. So far, the DOE has refused to fund any of his research because it is counter to the mainstream effort.<ref>J. R. Nyquist [http://www.financialsense.com/stormwatch/geo/pastanalysis/2006/0508.html Debunking Peak Oil] May 8, 2006 [[Geopolitical]].</ref> | | Thomas Gold at Cornell University, assert that the sources of oil may not be “fossil fuels” in limited supply, but instead [[Abiotic oil|abiotic]] in nature (meaning not produced by a life process). According to Professor Gold, oil is produced by an abiogenic process, deep within the earth. The scientific community has not been eager to affirm this thesis. In fact, they tend to resist it. In 1992 Gold published a paper titled “The Deep Hot Biosphere.” In this paper he suggested that oil is non-biologically produced, deep within the earth. In other words, oil is not a fossil fuel. The Department of Energy refused to fund his research although both outcomes would have been good - If the research uncovered sources of oil that did not take millions of years to produce, it would be a bonanza for oil companies . If abiogenic petroleum sources are found to be abundant, it would mean Earth contains vast reserves of untapped petroleum. On the other hand, if his research failed, this research proposal will contribute strongly to fundamental science in petroleum engineering. So far, the DOE has refused to fund any of his research because it is counter to the mainstream effort.<ref>J. R. Nyquist [http://www.financialsense.com/stormwatch/geo/pastanalysis/2006/0508.html Debunking Peak Oil] May 8, 2006 [[Geopolitical]].</ref> |