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article imageOp-Ed: Deep Oil, Deep Power and Deep Pockets

By Bill Jencks     Feb 6, 2009 in Business
Is oil running out or not and is Peak Oil a true phenomenon? In this article I examine the dubious reasons for the promotion of The Peak Oil myth and the interplay between power, profit and money.
Within the broil of geopolitical opinion, political correctness, shadow agendas and trite, posturing exchanges between world leaders, it is certainly difficult to sort out the truth form the drivel. When we are told something of earth shattering importance by a mega-country politician we then always have to analyze and decode it. In its first tellings there is no such thing as basic truth. These political deliveries can usually be split into two areas of explanation: The Convenient Excuse and The Inconvenient Reason. Politicians always tell you only the Convenient Excuse which, if you like, is merely barely believeable propaganda. Try this formula with Iraq, Afghanistan, Iran, the US Polish Missile Base and Georgia and, if you look carefully behind the door, you'll find a damn good alternative rationale for their political actions and purpose -- The Inconvenient Reason -- such as aggression, dominance, greed, oil monopolies and a myriad of other power-play reasons to suit any type of Communist, Democratic or Banana Republic government agenda. Let's face it, there isn't that much difference between Communist and Democratic puckering or babble is there? And this certainly applies to Big Business too, and particularly to the Oil Majors which is what this blog is all about.
Is Peak Oil just a Convenient Excuse for High Oil Prices ?
In my last article - The Evidence for Limitless Oil and Gas -- I presented as much evidence as I could for both the Western Biogenic Oil Formation Theory and the modern Russian Abiotic Oil Formation Theory. Before I researched this, I too was a firm Peak Oil believer. And Peak Oil can only be perpetuated and true if you believe in the Western Biogenic Oil Theory which, from its very explanation, determines that oil is finite. But then I became convinced of the validity of the Russian Abiotic Theory and wondered whether Big Oil was perpetuating The Peak Oil Theory for another reason. Perhaps Peak Oil is the Convenient Excuse and Excess Profit is the Inconvenient Reason ?
Differences in Methods of Oil Exploration between the Russian and Western Oil Theories
These two theories also must govern how you find oil. Using the Western Biogenic Method, you are only looking for an ancient static pool or reservoir of oil within the upper sedimentary layers of the Earth's crust. This is an extremely difficult process, finding oil this way is very hit-and-miss as history has proved. This method of oil exploration, despite technology, still only has a success rate of 1 in 28 wells. Using the Russian Abiogenic Method, you simply look for cracks or fissures within the deeper igneous or metamorphic rock (called cap rock) which, according to the theory, leaks oil upwards through the hard cap rock into the sedimentary layers above. So oil can indeed be found in the sedimentary layers of rock but actually originates at much deeper levels below the hard capstone rock(as per Kudrayvtsev's Rule). Searching for oil this way is much easier - just look for faults and fissures in the tectonic plates as evidenced by volcanoes, mud volcanoes, earthquake regions etc. and you will find oil albeit at much deeper levels. Or you simply drill through the cap rock to the oil below using special ultra-deep well extended-reach-drilling techniques. This kind of extended-reach-drilling technology in regard to its difficulty, compares easily with space technology. Also according to the Russian Abiotic Theory, if you have struck oil in shallow sedimentary rock and the oil becomes exhausted, then simply carry on drilling downwards and you will discover more oil either in the sedimentary layer below or in the region below the fissured cap rock.
Evidence for the Russia Oil Formation Theory also abounds. Off the coast of New Orleans - in the South Eugene oil fields is an example. Several of these wells - in 300 ft of water - were found to be refilling themselves with oil. Further investigation showed that they were refilling from below and not from the sides or above. Other examples are the Vietnam and Ukranian oilfields which the American oil companies had abandoned as exhausted. The Russians moved into these locations and drilled deeper and found more oil. This phenomenon is easily explained by the Russian Theory of Oil Formation, but cannot be explained adequately by the Western Theory of Oil. There is also other evidence in other areas that relates to these "oil refills".
The Discreet Affinity of US Administrations to the Peak Oil Theory
I am pretty stumped as to why the US government still beats its drum concerning its dislike of Middle East Oil dependency - and all this despite the relevance of The Russian Abiotic Oil Theory, a theory that says - more or less - that there is still plenty of oil left inside the Earth. Both Bush and President Obama have huffed and puffed about oil dependency and Peak Oil, currently threatening to open up the offshore oilfields off Alaska and the American West Coast and hang the environmental cost. Bush and Cheney were both die-hard through-and-through American oilmen and are therefore closely aligned to the wishes of The Oil Majors(who funded and installed them into there positions of power in the first place). So, simply put, I just couldn't trust their judgements or their Convenient Excuses -- since they were both probably well into the Peak Oil ruse simply to prop up the "oil scarcity" fable for nothing other than profit.
Consequences of Adherence to the Peak Oil Theory
You want reasons ? Click here to see the current running total of the profits earned by the five oil majors(Exxon, Chevron, Total, Shell and BP) since 2003.
The current rate of profit for the 5 Oil Majors is $3208.86 per second.
This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of
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