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Debate Info

18
3
Totally True Oil Lobby Hype!
Debate Score:21
Arguments:12
Total Votes:23
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 Totally True (9)
 
 Oil Lobby Hype! (3)

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Cdelvalle(196) pic



Is Peak Oil Based on Sound Science or Pure Hype?

Totally True

Side Score: 18
VS.

Oil Lobby Hype!

Side Score: 3
4 points

It is fact that there is only a set amount of oil in the earth. As we continue to extract the cheap oil, all that will be left is more expensive, harder to find oil.

The latest discoveries have been expensive projects which extract oil from deep water, rocks, and sand. The production cost for this oil can run up to 2,000% more (for conversion of shale)!

This coincides perfectly with the peak oil curve that says that a finite resource such as oil will eventually run out.

Side: Totally True
1 point

I live in Alberta, Canada where economy recently went through a large boom thanks largely to the tar sands. The fact that the tar sands are profitable now considering how inefficient the extraction process is should be a good indication we're heading into a time of more scarce oil.

And really, all you need to do is to look at the prices at the pump. It's easy to see what is happening as the supply slows and we begin to pay more and more for our gas. In 1999 I worked at a Shell station where we were selling gas for 0.39CAN/liter, today it is nearly a dollar more at 1.25CAN/liter. If we're not at peak oil already we're getting close.

It's worth pointing out that there's no way to be 100% sure how much of our favourite energy source is stuck in the ground, and perhaps there is some giant reserve we just haven't discovered yet. But I hope not, high gas prices mean people will pay attention to how much the drive causing the environment to break out the party hats.

Side: Totally True
1 point

I think it'll be a fair few years before we see the end of petrol run cars. Electric motor technology suitable for cars is still too undeveloped, with most leading companies showing little interest in them. Not only that but there isn't any infrastructure in place to support electric driven cars and to install one will take one hell of a lot of cash and time.

Side: Totally true
4 points

The Toyota president Katsuaki Watanabe had this to say about the future of the auto industry:

" 'Without focusing on measures to address global warming and energy issues, there can be no future for our auto business,' he told reporters in Tokyo, adding, 'Our view is that oil production will peak in the near future. We need to develop power train(s) for alternative energy sources.' "

If auto industry is already changing it's focus because it believes peak oil will occur, I'd say this debate is over.

Supporting Evidence: Plug-In Hybrid Toyota Vehicle (blog.wired.com)
Side: Totally True
1 point

Oil is finite - it will run out if we don't stop burning it. We can happily increase the rate we burn it of course - up until it runs out. It's simple.

Side: Totally True
2 points

I think it's also easy to forget how many products are made from petroleum. The more finite oil gets, the more expensive all these products will be. If we take a huge step forward in sustainable energy, perhaps we can spare ourselves this burden.

Side: Totally True
1 point

Indeed, every man-made object you can see right now was transported with oil, manufactured with oil and comprises a large amount of oil products e.g. plastics.

Side: Totally True
1 point

I would think that oil is a finite resource. However, the worst argument one could put forth in favor of peak oil theory is to reference current prices. The truth is the oil futures market is rife with manipulation. You literally have oil trading desks taking both sides of futures trades so they can bid up the price. The demand fundamentals are not there and eventually investors wake up and sell off their positions causing price declines. In the meantime, we pay more for gas at the pump. Reference not the peak price of $147bbl in 2008, but rather what is going on now: Oil was about $30bbl in January and rose to over $70 this summer. Then people realized we are sitting on oceans of oil in storage and sold off and oil is currently retreating to below $60bbl- even as China and India grow at +5% GDP clips.

We have been talking about this peak oil thing ever since they hit a gusher in Penn. Just like in 1990's when oil collapsed to $10bbl.

One other thing that peak oil doesn't consider- that is the fact that demand could actually decline due to crushing economic recessions felt worldwide from an increasingly integrated world economy, which will translate into lower energy usage. But i guess that will never happen eh?

Side: Oil Lobby Hype!
HGrey87(750) Disputed
1 point

"Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline."

Peak oil has nothing to do with markets. It's about diminishing returns in extracting it (less oil, more energy required). If you want to read a bit about it, check out "The Party's Over." I'm too hung over to find the full title :[

Side: Totally true
selfgov(89) Disputed
1 point

Oh Lallijo... That is not why the price of oil went down.

The price of oil went down because demand was destroyed by the recession.

Now the economy is finally picking up (thanks to insane money printing) and now look, gas prices are going up again.

This is called the bumpy plateau that the Peak Oil nuts have been talking about for years.

Look at this chart... This is the bumpy plateau...

Supporting Evidence: S&P;500 (dshort.com)
Side: Totally true
1 point

Compare oil to gold. The supply of gold is practically unchanged since Gold never wears away, it can be reused and melted back down (it is estimated that 95% of all gold ever used is still in circulation). Equally the demand for gold never even nearly approached the huge amounts available. The vast majority of trade in gold is not to use it, but as a share like a companies shares. Except because there are no supply and demand shifts in gold it is all speculation.

Side: Oil Lobby Hype!