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The End Is Nigh: Peak Oil Proponent Forecasts Grim Future

Posted Jul 28, 2008 02:29pm EDT by Aaron Task in Investing, Commodities

"I think it's an awful story, and I hate to be the one to tell it." So says Chris Nelder, an editor at EnergyandCapital.com and co-author of "Profit from the Peak," who maintains that peak oil -- the concept that global oil production will soon decline sharply -- is fact, not theory.

Regardless of which camp you fall into on the debate over peak oil, the effects of diminished oil supplies Nelder describes in the accompanying video are hair-raising:

Still, every cloud has its silver lining, and Nelder notes that a resurgence in local farming and intensified development of renewable energy sources are inevitable. And while sweeping changes in world energy use may be a long way off, Nelder has some tips on alternative energy stocks you can use today.

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216 Comments

Ron O
Ron O - Monday July 28, 2008 02:45PM EDT

People have been crying wolf over this issue for over 100 years. Fundamentally speaking oil should not be over $85/barrel. Isn't it funny how oil producing nations have some strife (Nigeria) or publicly denounce the US (Iran) and then all of the sudden oil goes up a couple percentage points? Who does that favor...hmmm...let's see...

HELEN
HELEN - Monday July 28, 2008 02:45PM EDT

This is silly. Alternative energy getting more developed, yes; the end of the world, nah....

Fake
Fake - Monday July 28, 2008 02:47PM EDT

Yawnnnnnnnnn, these vermin crawl out of the woodwork all the time. I suppose because this twit states "this theory is fact" that will make it so? Stating something over and over doesn't make it so. I wonder if this melon-head graps the oxymoron of "this theory is fact"? Much like the press already announcing the Dalibama as the next president. Oil to $80 or less per barrel and right quick. More good news? The left will finally be exposed as the agents who kept our own coal, oil and nuke resources bottled up. They have no defense for this position. Much akin to the Dalibama saying he would "oppose the surge again" even though it is an overhelming success

THOMAS
THOMAS - Monday July 28, 2008 02:47PM EDT

No doubt things need to change, but this guy is nuts. Dooms-dayers are just as bad for us as the Tree-Huggers!!

Yahoo! Finance User
Yahoo! Finance User - Monday July 28, 2008 02:50PM EDT

"Fundamentally speaking oil should not be over $85.00/barrel." Data to back this up please.

jacob.gibson36
jacob.gibson36 - Monday July 28, 2008 02:56PM EDT

OOOPS! EOG resources struck in oil on the Barnett Shale last week. 1000 barrels per day. Now reports are coming in that there is roughly 250 BILLION barrels of oil in North America alone. I think he is crazy.

jim k
jim k - Monday July 28, 2008 02:57PM EDT

The sky is faling the sky is falling and we're all gonna die! Food riots? ROFL Let me guess...he's trying to sell something.

Yahoo! Finance User
Yahoo! Finance User - Monday July 28, 2008 02:58PM EDT

Doomsayers always act like Armageddon will just blindside us one pleasant afternoon. If these theories even hold true, won't simple laws of economics (gradually) force us toward the "silver linings" like alternative energy sources well before Armageddon?? I just wish people would get off this whole environmentalist kick and the conspiracies about the world's oil supply just drying up and at least admit that the most sensible reason for us to get off of oil is to drain the power of corrupt dictatorships that want to conquer the world and destroy us through oil power. And yes, sure is convenient to bring this up while whiny consumers are upset that they have to pay more for gas this week.

Jimmy
Jimmy - Monday July 28, 2008 03:02PM EDT

this is a stupid segment. there is no one on this planet who can predict what the world will be like in 50 years, 50 years ago, our ability to produce food to support our current population was completely impossible. Our continued exponential growth in technology is not a given, but in no way does this apocalyptic bullshit from yahoo deserve anyone's time. A blemish on an otherwise stellar financial website.

joe
joe - Monday July 28, 2008 03:02PM EDT

This guy's probably bought lots of oil future contracts. Brah !! Oil supply's coming down, but it isn't as grim as he painted. End of suburbs........ why not the end of civilization. HAHA !!

One sane person
One sane person - Monday July 28, 2008 03:02PM EDT

No one has been crying wolf over this for 100 years. We were still heating homes with coal or wood then. Get your head out of your gas tank...this change should have come back in the 70's. Instead they killed the electric car in the 80's and built gas sucking SUV's! God forbid people will have to learn how to walk to work or school and use mass transit. Buy from local farmers then maybe there won't be a massive break out in salmonella that no one could figure out the source. BTW there is not enough oil in the alaska region to go more than 12 years so keep your mits off that! BTW

RightofCenter
RightofCenter - Monday July 28, 2008 03:03PM EDT

More liberal scare tactics! When will it ever stop?

Victoria
Victoria - Monday July 28, 2008 03:03PM EDT

There will always be people like this who make some doomsday quote just to get their name in the press. He "hates to the the one to tell it" - yeah - whatever - give me a break. The world is not going to end. It may get more expensive to drive your car - yes. There may be more pressure to develop alternative energy - yes. End of the world? Nah.

Jason J
Jason J - Monday July 28, 2008 03:04PM EDT

All this guy is worried about is selling more coppies of his book. People like him and the people that buy his book are the reason oil is as high as it is. Damn Speculators.

Yahoo! Finance User
Yahoo! Finance User - Monday July 28, 2008 03:05PM EDT

I drive a prius

Rayster
Rayster - Monday July 28, 2008 03:05PM EDT

Localization is the Key. I find organic peppers made in Israel for $11.99/pound!!?? Where local organic peppers are $6.99/lb! Its time to stop importing other food into our country!!! We must be sustainable!

uhh, clem
uhh, clem - Monday July 28, 2008 03:06PM EDT

who cares?

Matt
Matt - Monday July 28, 2008 03:06PM EDT

One of the best and most informative sources on this issue is a documentary called "The End of Suburbia: Oil Depletion and the Collapse of The American Dream." It was made in 2003, before the huge spike last year and is already eerily prophetic. This recommendation is only for interested people, not closed-minded flamers.

Janis
Janis - Monday July 28, 2008 03:06PM EDT

People don't like change from what they know. Things are changing rapidly. How many would have guessed $4 gas this soon? The structure of this county is based on long drives in cars and trucks. Our railroads are in disrepair. The times they are a changin'

kevinh
kevinh - Monday July 28, 2008 03:08PM EDT

What is he selling??????????? No it is time to shoot the messenger

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