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3 Technologies Beating the 'Peak Oil' Hysterics
NXT Energy Solutions, CGGVeritas and Reelwell Rewriting the Story "The Twilight of oil t...
About this update from Nxt Energy Solutions Inc.
[{"type":"text","content":"3 Technologies Beating the ‘Peak Oil’ HystericsNXT Energy Solutions, CGGVeritas and Reelwell Rewriting\nthe Story \n\n\n\n\"The\nTwilight of oil that is approaching in Saudi Arabia and across the entire\nMiddle East will certainly make oil products much scarcer and less affordable\nfor middle class citizens of developed nations, and will likely put them\ncompletely out of reach for aspiring populations in underdeveloped countries\".\n\nSimmons (2005, pp.341)\n\nVANCOUVER, BC / ACCESSWIRE / September 5, 2014 / These are the words of respected speaker\nand author Matthew Simmons, on the topic of ‘peak oil’ in his book Twilight in the Desert: The Coming Saudi Oil\nShock and the World Economy. The author offers a troubling prediction of\nwhat to expect when we reach this pinnacle known as ‘peak oil’. He speaks so\neloquently and poetically of the dimming sunsets in the Middle East as the oil\nwells dry up. But he was wrong. \n\nMatt Simmons was no mere Internet blogger. He\nwas a well-regarded energy investment banker and Chairman of the Association\nfor the Study of Peak Oil-USA (ASPO-USA) Advisory Board. He was a regular\nspeaker on the topic of ‘peak oil’ internationally and a New York Times\nbest-selling author. While this author might have been a knowledgeable,\nrespected thinker, not all authors lining the book shops were of the same\ncalibre, with some simply trying to cash in on the hysteria. \n\nThere is one terrible fault in the analyses\nthat he and so many other authors failed to address in their near doomsday\npredictions; it’s how technology has shattered this chaos theory that they are\nso keen to warn us about. What he and the rest of the world didn’t anticipate\nwas a wave of technologies that would reveal large reservoirs of oil and gas\nthat we couldn’t detect as recently as in the mid-2000s. These new technologies\nwould dramatically reduce the cost and time of exploration, complementing the\ntime-tested methods that came before. The\narrival of hydraulic fracking, for example, has recently made the U.S. the\nlargest oil producer in the world. This technology has now enhanced the energy\nsecurity of the world’s largest economy, reducing dependence on oil exports\nfrom politically unstable parts of the world. \n\nHere are three new...