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Oil’s found between rocks!
King Hubbert predicted in 1974 backed by his Hubbert Curve theory that oil would go to its peak in 1995 and then it would start declining and will then exhaust gradually. But that did not happen. Oil demand steadily went down in 1970s and 1980s due to instability in oil producing regions and then drastically went up in 2000s. In between, the Association for the Study of Peak Oil and Gas, as well as two other stalwarts – Ali M. Samsam Bakhtiari of National Iranian Oil Company and Chris Skrebowski, founding Director of Peak Oil Consulting – further predicted that the peak in oil would occur somewhere around 2007. However, that again didn’t happen as oil reserves as well as production further went up (US International Energy data). The crux of the issue remains the same – when the hell would oil run out? The reason this question is important is to understand how much money and efforts should be invested in moving over to alternate/quasi-fuels. Allow us to give you the latest dope – oil is never going to run out! We don’t wish to sound off our blocks, but what we said, fortunately or unfortunately is reality.
While oil reserves in 2007 were around 1,184.208 billion barrels, they’ve gone up to 1,342.207 billion barrels in 2009. Despite increase in investments in alternative energy, these in reality might not be required at all. Researches under the new abiogenic theory contradict the age-old traditional theory that petroleum is derived from biogenic processes.
Iconic authors Jerome Corsi and Craig Smith explain in their cult novel, ‘Black Gold Stranglehold: The Myth of Scarcity and the Politics of Oil’ how the belief that oil is a fossil fuel and that it is a finite resource has been promoted to make America (and the world) a vulnerable society. And why’re the authors so important as to be quoted by the likes of National Geographic and Discovery? The abiogenic theory that they publicised – that oil is not just fossil fuel and also forms between granite rocks as well (ergo, will never run out) – is now completely supported by CERA, EIA and OPEC!
By:- Akram Hoque
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