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Page added on July 18, 2018

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Wind Energy Is Getting Cheaper And Cheaper

Wind Energy Is Getting Cheaper And Cheaper thumbnail

Who would have thought wind’s transformation from subsidy-supported to self-financing power source would happen so quickly – not this publication, that’s for sure.

Apart from diehard environmentalists, most consumers have been opposed to renewables on the basis they cost significantly more, and turbines are an eyesore on the landscape.

But in the span of less than 10 years, public opposition has declined. Opposition has not gone way entirely, but it has softened as we have become more familiar with the sight of slowly rotating turbine blades on the horizon and with the realization that its costs are falling dramatically.

A recent article in The Telegraph reports on how the cost of power production from onshore wind farms has dropped so far it undercuts conventional coal, natural gas and nuclear options.

The below graph from 2015 shows onshore wind as the cheapest option; costs have come down further since then.

(Click to enlarge)

Source Wikipedia

Calling it the “subsidy-free revolution,” the Telegraph article reflects our own surprise at how quickly the change has taken place.

To be fair, offshore power still requires some subsidy because of the greater cost of installation and maintenance. Even here, costs continue to fall, and subsidy is a route the authorities prefer to entertain because of public opposition to what was seen as the blight of onshore turbines dotting the landscape.

In large part, this is because turbine sizes have increased and, as a result, efficiencies have increased.

(Click to enlarge)

Source: The Telegraph

The industry is seeing it as a major investment opportunity, generating jobs while at the same time reducing the country’s overall carbon emissions.

A figure of £20 billion covering both onshore wind and solar over the next 10 years is mooted, all of which would be subsidy-free.

The latest figures are sounding the death knell for nuclear power in the U.K., but as usual the government hasn’t caught up with the numbers.

Nuclear power is costing a massive £92.50 per megawatt hour and is partly justified on the basis that a base load of power is always required to fill in renewables variability. However, battery parks like Glassenbury in Kent are springing up that can meet gaps in demand, but nothing like a 2 GW nuclear power plant; still, a few MW here and there is slowly adding up.

But, like renewables, costs will need to come down for investment to flow into battery parks. That is, they’ll need to come down to the extent required to negate the need for quick fireup of conventional power sources to fill in gaps during cold snaps or, as renewables rise, as a percentage of the whole to fill in for periods of low wind or at night for solar.

Still, a low-carbon future, at lower power costs and with the benefit of economic growth from investments – what’s not to like?

By Stuart Burns via AG Metal Miner

 



98 Comments on "Wind Energy Is Getting Cheaper And Cheaper"

  1. Davy on Fri, 20th Jul 2018 8:05 am 

    Another holocaust denier. Pretty obvious with Boney Juan and his closet Nazi credentials. While I am sure the Holocaust historical account has rather large embellishments history has show the Nazi’s to be murderous especially of Jews. My wife’s villiage was destroyed by the nazi’s And a quarter of the civilians killed. Apologizing for Nazi behavior is intellectually reprehensible.

  2. Antius on Fri, 20th Jul 2018 6:40 pm 

    Some figures for comparison:

    Oil costs $70/barrel and 1 barrel = 6.12GJ. On average, oil is converted into motive energy with about 30% efficiency. So 1 barrel of oil yields 1.84GJ (510KWh) of motive power. That works out at $0.1373/KWh.

    Electricity from a mixture of wind/solar power ~$50-100/MWh. DC motors are about 80% efficient. So motive power produced by wind/solar has a cost of $0.063 – 0.125/KWh. So solar/wind electric can produce motive power at a price equivalent of $32-64/barrel.

    In terms of heat energy, 1 barrel of oil contains 1700KWh of heat. That is $0.041/KWh.

    For low quality heat, assuming a COP of 3, a wind/solar mix with a cost of $50-100/MWh will produce heat at a cost of $0.017-0.034/KWh.

    For high quality heat, COP is 1 and heat cost is $0.05-0.1/KWh.

    Bulk electricity in the EU costs around 50-60 Euro per MWh ($0.05-0.06/KWh). Utility scale wind and solar power may just about be that cheap.

    General conclusion: If the LCOE of utility grade wind and solar are as low as proponents suggest, then a renewable electron economy can provide transport, heating and general electrical energy services at a comparable cost to oil, provided that:

    (1) Intermittency can be dealt with at a cost that avoids pushing the price of power much higher that $60/MWh;

    (2) For transportation, the the technology is available to power vehicles with very few energy losses and little additional cost from battery systems. This implies conductive transfer of power directly from the grid to an electric motor on the vehicle. This implies no more than a 10% increase over wholesale power costs.

    This substantially constrains the amount of backup and storage that can be applied to the power system.

  3. Makati1 on Fri, 20th Jul 2018 6:58 pm 

    For Cloggie: “…all Europe has to offer Putin and Russia are more mouths to feed. Let’s be clear on this. Russia holds all the natural resource cards. Russia has all the free land left. Russia has been on the defensive since FOREVER. Point two. Besides and Eiffel Tower and some ancient ruins to visit here or there, the Russians pretty much have everything Europeans do…

    https://journal-neo.org/2018/07/20/do-western-warmongers-want-us-all-dead-or-what/

    “Russia has absolutely no interest in Europe other than tourism and natural gas sales. Of course, a preemptive invasion to create a “kill zone” should NATO advance is a real strategic probability.”

  4. Davy on Fri, 20th Jul 2018 7:06 pm 

    3rd world that is rubbish. Putin and Russians feel their Europeanness as much as France or Germany. It is a shared history and that goes very deep for Europeans. Your journal-neo is an extremist agenda pumping site that has you brainwashed. You don’t know shit about Europe anyway.

  5. Cloggie on Sat, 21st Jul 2018 3:14 am 

    In most cases, home level electricity production makes limited economic sense. Take a look at the difference in LCOE between Residential Rooftop and Utility grade:

    -link

    Utility grade: $43-53/MWh;
    Residential Rooftop: $187-319/MWh

    That is 4 – 6 times more expensive.

    There is no doubt that installation cost per panel in a meadow, where thousands of panels can be installed, is much lower than setting up a scaffold so you can mount 6-10 stupid panels on a roof.

    But did they include the price for land occupation, that no longer can be used for agriculture? Holland can’t be the 2nd agricultural exporter in the world with 44,000 km2, if we are going to cover all these scarce land with panels.

    (or can we?

    https://deepresource.wordpress.com/2018/06/24/airborn-solar-panels/

    )

    I just have to refer to my case. I am looking at the data now in a browser and copy/paste:

    10.71 trees
    Carbon Offset – 3.91 ton
    Income – €862.60
    Power Now – 0.23 kW (Holland, earlai in da monnin)
    Today’s Energy – 0.34 kWh
    Monthly Energy – 168.10 kWh
    Yearly Energy – 990.67 kWh
    Total Energy – 3.98 MWh

    Total turn-key installation cost: 3,000 euro
    Coming December I will have them 3 years and will have harvested 1,000 euro’s worth of kWh’s at consumer prices and 100% feed-in tariffs.

    This means that, as predicted, I will earn the panels back in 9 years, after which I will have at least another 20 years of free electricity, if I live that long and will get to live 2 years older than my father. [*]

    So, from an economical point of view it makes very well sense to have these panels installed. Although there was some vague greenish motivation, the main motivator was prepping. Mostly pension-prepping, as I was a freelancer most of my life, with lots invoice-free months, err, I mean freedom and hence relatively few payments into pension funds, which could turn out to be a blessing, in case of major defaults cascading through the world’s financial systems, as many here believe will happen (I’m not 100% convinced).

    [*] – the picture is somewhat less rosier, since 100% feed-in tariffs are not expected to last, but probably until 2022, meaning 7 years “freeloading”. Furthermore I can expect to have to replace the converter once or twice (400 euro each + 100 installation cost)

  6. Cloggie on Sat, 21st Jul 2018 3:54 am 

    For Cloggie: “…all Europe has to offer Putin and Russia are more mouths to feed.

    You are confusing Europe and Africa. Europe has lots to offer in terms of world class high-tech products.

    Let’s be clear on this. Russia holds all the natural resource cards.

    That’s true.

    Russia has all the free land left.

    They have so much land and so few people that it is going to be difficult to defend it. Putin has been offering 2.5 acres of FREE LAND for those (from the West) willing to settle in the Far East, so the Chinese won’t. Predictably this was not a big success. You do not go to Siberia unless you are sent.

    https://en.wikipedia.org/wiki/Russian_Homestead_Act

    (this could change though if climate change will really hit)

    Russia has been on the defensive since FOREVER.

    Rubbish. Russia was an imperial power of the first order. They reached Alaska and even California before European settlers (“Americans”) did:

    https://en.wikipedia.org/wiki/Fort_Ross,_California

    Furthermore, Russia was the first to mobilize in 1914 and you better do not repeat that silly statement in your average Polish or Lithuanian cafe or run the risk of your face becoming redecorated (1945-1989).

    Point two. Besides and Eiffel Tower and some ancient ruins to visit here or there, the Russians pretty much have everything Europeans do…

    They don’t. European cities are world-wide unparalleled in their architectural beauty and quality of life.

    The following map of British origin is hilarious in that they have to place Amsterdam, Paris and Lisbon in the Americas, Berlin in Siberia and Vienna in the Himalayas in order to make room for all these European cities on top of the quality-of-life ranking.lol

    https://monocle.com/film/affairs/quality-of-life-survey-2014/

    And with all the enormous respect and admiration I have for the world’s #1 statesman Vladimir Putin, he is still residing over a rather shabby country. Russia is and feels European (white race, Christian majority religion). Putin was pushed into the arms of the Chinese by the insane behavior of the West, that thinks it can have a useless world empire in the hands of the youknowwho. But he doesn’t want to be there at all. These were the best years in the political life of Putin, before the c*nt appeared at the scene:

    https://tinyurl.com/y8nkwa2k

    2000-2007, when France, Germany and Russia defied American orders to participate in the ill-fated Iraq safari. Putin has repeatedly said that he wants to be part of a European confederation and when the time is ripe we Europeans should accept that offer in order to contain the rising might of China.

    https://documents1940.wordpress.com/2017/12/03/paris-berlin-moscow/

    https://documents1940.wordpress.com/2018/05/10/boreas-rising-paris-berlin-moscow/

    But we continental Europeans should not do that before the end of the American Era and running the risk of pushing the Americans into the arms of the Chinese, the preferred plan B of the (((current owners))) of America:

    https://deepresource.wordpress.com/2015/04/17/wallerstein-on-european-american-relations/

    Populists in Europe and America should combine forces and aim for a breakup of the US, after the initiation of the upcoming CW2, that will likely begin shortly after Trump will leave office, for whatever reason.

  7. Makati1 on Sat, 21st Jul 2018 4:42 am 

    Dream on, Cloggie. I meant what I said.

  8. MASTERMIND on Sat, 21st Jul 2018 4:56 am 

    Clogg

    The US and Europe’s problems can’t be solved by voting..you moron..you think putting the dumbest people on earth will solve all your problems..the jobs are never coming back..

    You are going to die a loser than nobody loves..

  9. Davy on Sat, 21st Jul 2018 5:08 am 

    “Dream on, Cloggie. I meant what I said.”

    3rd world, neder drug you through the dirt. Just gracefully keep your mouth close.

  10. MASTERMIND on Sat, 21st Jul 2018 5:35 am 

    I wish Davy was on that Duck boat that capsized in Missouri..

  11. Davy on Sat, 21st Jul 2018 5:49 am 

    mm, I am an excellent swimmer and would have survived. I would not have been caught dead on such a boat anyway. I rarely leave the farm and when I do it is related to my permaculture farm. I wish you would choke on your vomit after a night of binge drinking which I am sure you do regularly.

  12. Cloggie on Sat, 21st Jul 2018 5:54 am 

    “Dream on, Cloggie. I meant what I said.”

    I know that makati that you are too stubborn to admit the obvious, witnessing your non-response to my elaborate post.

  13. Cloggie on Sat, 21st Jul 2018 5:59 am 

    “mm, I am an excellent swimmer and would have survived. I would not have been caught dead on such a boat anyway. I rarely leave the farm and when I do it is related to my permaculture farm. I wish you would choke on your vomit after a night of binge drinking which I am sure you do regularly.”

    I’m with Davy on this one.

  14. Cloggie on Sat, 21st Jul 2018 6:18 am 

    The absense of maintenance with E-vehicles:

    https://cleantechnica.com/2018/07/20/turns-out-the-citroen-c-zero-is-the-most-affordable-ev-to-maintain-in-europe/

    The lack of clear electric vehicle (EV) maintenance information is confusing for new drivers. Many people understand that EVs requires little to no maintenance, but this is certainly not something the majority of the population understands. Early EV drivers have stories of only changing brake pads and windshield wipers in the first 70,000 miles, but how many people looked for a used car have heard such stories?

  15. JuanP on Sat, 21st Jul 2018 6:22 am 

    It is quite obvious that Davy doesn’t have time to go boating. His “moderating and balancing” activities here don’t leave time for anything else. The guy is as obsessive as a human can be.

  16. MASTERMIND on Sat, 21st Jul 2018 6:28 am 

    Davy

    You are an old geezer..I bet you would sink like an anchor dropped in the open ocean..

    You keep working hard on your farm and I will keep living it up in the city..

  17. Cloggie on Sat, 21st Jul 2018 6:29 am 

    Although humans in general are seen here by some as a destructive species, going at the throat of its own habitat, some encouraging counter-examples do exist, like this one:

    https://cleantechnica.com/2018/07/20/the-billion-tree-project-in-pakistan-is-a-success/

    Pakistan managed to plant over 1 billion trees, now covering 5.2% of the landscape in a matter of a few years for the price of $169 million.

    There is still hope.

  18. MASTERMIND on Sat, 21st Jul 2018 6:29 am 

    Clogg

    Can you cite any sources that don’t have conflicts of interest with the big tech industry? EV’s are too expensive for the average joe and you can’t take them out of the city..

    You are just afraid of peak oil and you should be .

  19. Cloggie on Sat, 21st Jul 2018 6:30 am 

    “You keep working hard on your farm and I will keep living it up in the city..”

    …on somebody else his/her tit, you parasite.

  20. MASTERMIND on Sat, 21st Jul 2018 6:31 am 

    Clog

    There is no hope you moron..the IEA and Saudi’s have already put out the doomsday warning we are going to start running out of oil soon..And you know damn well what will happen based on that leaked German military study

  21. Cloggie on Sat, 21st Jul 2018 6:35 am 

    “Can you cite any sources that don’t have conflicts of interest with the big tech industry?“

    Can you prove that CleanTechnica is subsidized by big tech industry?

    You can’t.

    https://cleantechnica.com/our-team/

    As far as I can tell CleanTechnica is a green-leftist good news show, who make their money with embedded adds, speeches, perhaps some research, donations, t-shirts.

  22. Cloggie on Sat, 21st Jul 2018 6:40 am 

    There is no hope you moron..the IEA and Saudi’s have already put out the doomsday warning we are going to start running out of oil soon.

    You are a notorious liar, millimind. The IEA has said nothing of the sort:

    https://www.cbc.ca/news/business/iea-outlook-1.4401389

    Global oil demand is expected to keep rising over the next two decades, albeit at a steadily decreasing pace, according to a new report released Tuesday by the International Energy Agency.
    (November 2017)

    Busted.

  23. Cloggie on Sat, 21st Jul 2018 6:45 am 

    In 2018 I learned to trust professional bean counters like the IEA, who btw are positive regarding renewable energy, far more than sensationalist individuals like Heinberg, who want to sell books and speeches to a bored public, who earn 50k and are yearning for horror stories.

    A reasonable, ordered transition is still in the cards.

  24. MASTERMIND on Sat, 21st Jul 2018 6:48 am 

    Clogg

    IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows
    https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000

    IEA warns of oil ‘supply crunch’ by 2020 with no capex renaissance
    https://www.reuters.com/article/us-oil-iea-forecast/iea-warns-of-oil-supply-crunch-by-2020-with-no-capex-renaissance-idUSKBN16D1X1

    IEA Forecasts Oil Shortages and Sharp Price Rise by 2020 – Nasdaq https://www.nasdaq.com/article/iea-forecasts-oil-shortages-and-sharp-price-rise-by-2020-cm757712

    International Energy Agency: Oil price spike coming in 2020
    https://www.usatoday.com/story/money/2017/09/19/iea-oil-price-spike-coming-2020/679584001/

    Energy watchdog warns oil and electricity shortages could develop as investment falls
    https://www.cnbc.com/2017/07/10/watchdog-warns-of-oil-and-electricity-shortages-as-investment-falls.html

    Grow a dick you widdle pussy..And stop being afraid..

  25. Cloggie on Sat, 21st Jul 2018 6:51 am 

    Norway has 98% renewable electricity, mostly from hydro. Now they ordered 42 Chinese made e-buses:

    https://cleantechnica.com/2018/07/20/byd-charges-into-norway-with-two-new-orders-for-42-articulated-electric-buses/

    “Norway is the undisputed leader in electric vehicle adoption, with plug-in vehicles representing 39.2% of new car sales in 2017.”

    https://en.wikipedia.org/wiki/BYD_Auto

  26. MASTERMIND on Sat, 21st Jul 2018 6:53 am 

    Clogg

    Quit spamming this site with your fake news from websites that have conflicts of interest..You are pathetic coward who is going to become zombie food..

    Norway has a population of around 5.2 million people. That is less than the size of the city of Los Angeles…

    You are sad and pathetic loser who is grasping at straws..Pointing to one of the smallest countries on the planet..

    LMFAO

  27. MASTERMIND on Sat, 21st Jul 2018 6:54 am 

    Richard Heinberg authored new scientific paper..

    Energy Decline and Authoritarianism

    https://link.springer.com/article/10.1007/s41247-018-0042-7

    When are you going to author a science paper clog?

    LMFAO!

  28. Cloggie on Sat, 21st Jul 2018 6:58 am 

    IEA Forecasts Oil Shortages and Sharp Price Rise by 2020 – Nasdaq https://www.nasdaq.com/article/iea-forecasts-oil-shortages-and-sharp-price-rise-by-2020-cm757712

    Click-bait article title, that doesn’t match the content, you insufferable fool:

    “Demand meanwhile will reach 104 million barrels per day by 2022, up by 7.3 million barrels per day, with all of the growth coming from developing countries and Asia and demand in India starting to outpace China, leading to a tight market.

    “We are witnessing the start of a second wave of US supply growth, and its size will depend on where prices go,” said Dr Fatih Birol, the IEA’s Executive Director. “But this is no time for complacency. We don’t see a peak in oil demand any time soon. And unless investments globally rebound sharply, a new period of price volatility looms on the horizon.””

    The only thing the IEA is saying is that if you don’t invest in exploiration, prices will go up.

    If I were an oil producer ‘I would think “f* the IEA”, we want prices to go up and increase our earnings.

    And for me as a renewable energy adept, wanting European wind companies to take over from Anglo oil companies, oil prices can’t be high enough.

  29. Davy on Sat, 21st Jul 2018 7:01 am 

    Starting the shit off yet another day, boney juan. Ask the regulars how they feel about it. The real and solidly intellectual guys (the few that are left). I don’t need to name names because we know who they are. Ask the people that routinely ask that this bitch slapping festival ends so real discussions can occur. That doesn’t matter to you does it, boney juan. You have an emotional agenda to fulfill.

  30. Cloggie on Sat, 21st Jul 2018 7:03 am 

    “Richard Heinberg authored new scientific paper..
    Energy Decline and Authoritarianism”

    I have been embarrassed by this leftist beta-male once; never again.

    Better a white “authoritarian” like Putin and Trump than your Sanhedrin of “Elders”.

    Tertium non datur.

  31. Cloggie on Sat, 21st Jul 2018 7:06 am 

    “When are you going to author a science paper clog?”

    I have several, actually.

  32. Cloggie on Sat, 21st Jul 2018 7:17 am 

    Subsidy, that’s for losers, like oil and coal:

    https://cleantechnica.com/2018/07/19/clean-energy-revolution-is-market-driven/

    Solar and wind have already beaten fossil, well, at least as long as market penetration is not that high, that storage is required.

    In Europe, new power capacity constitutes 90%, on price alone.

    The Paris Accords garantee that the price of storage will be more or less irrelevant, as we have the ambition to get rid of fossil at the earliest opportunity.

  33. MASTERMIND on Sat, 21st Jul 2018 7:24 am 

    Clogg

    IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows

    LONDON—Global oil discoveries fell to a record low in 2016, the International Energy Agency says, raising fresh concerns about the potential for a petroleum-supply shortage as soon as 2020.

    Don’t expect output from U.S. shale producers to fill the void, the IEA said. American shale production is expected to grow by 2.3 million barrels a day or more over the next five years, but that isn’t enough to make up for declining output elsewhere.

    The IEA also doesn’t expect global oil demand to stop growing any time soon, potentially turning the current glut of oil into a dearth.

    The Organization of the Petroleum Exporting Countries has also sounded the alarm over the potential for a looming supply gap in the long term. Saudi energy minister Khalid al-Falih told a London energy conference last year that “there will be a period of shortage of supply.”

    Shale “is not enough by itself,” the IEA’s Mr. Birol said.

    https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000

    So yea..

  34. MASTERMIND on Sat, 21st Jul 2018 7:28 am 

    Clog

    You love authoritarians and nazi’s because you are a loner ie loser, and you want to be a part of a group..

  35. Cloggie on Sat, 21st Jul 2018 8:13 am 

    https://www.iea.org/newsroom/news/2018/march/record-oil-output-from-us-brazil-canada-and-norway-to-keep-global-markets-well-.html

    “Record oil output from US, Brazil, Canada and Norway to keep global markets well supplied”
    (2018)

    Nowhere in the article does the IEA suggest that the world is about to fall of an energy cliff. As soon as supply will decrease, oil prices will shoot up again, stimulating investment in new exploiration, even outside oil country #1, USA. And stimulate investment in rendwables.

    “You love authoritarians and nazi’s because you are a loner ie loser, and you want to be a part of a group..”

    I already belong to a group: Dutch/Europe/white race.

    No, I love “authoritarians” like Putin and Trump because they are waging an undeclared war against your group, that is already removed from power in Russia and is about to be removed from power in the US.

    Toodeledokie, say hello to Yahweh from me.

  36. MASTERMIND on Sat, 21st Jul 2018 8:44 am 

    Clogg

    The IEA was warning about oil shortages around 2020..Not this year you moron..And supplies are already tight and have decreased…that is why the price shot up this year you moron..You can’t invest in new oil fields that haven’t been discovered you moron..

    HSBC Global Bank: 81% of world liquids production already in decline and world oil shortages ahead
    https://www.scribd.com/document/367688629/HSBC-Peak-Oil-Report-2017

    https://imgur.com/a/rBtIrfg

  37. MASTERMIND on Sat, 21st Jul 2018 8:45 am 

    clogg

    Oil discoveries in 2017 hit all-time low –Houston Chronicle
    https://www.chron.com/business/energy/article/Oil-discoveries-in-2017-hit-all-time-low-12447212.php

    All-Time Low For Discovered Resources in 2017: Around 7 Billion Barrels of Oil Equivalent https://www.rystadenergy.com/newsevents/news/press-releases/all-time-low-discovered-resources-2017/

    Global crude oil discoveries plunge to record low, and it’s gonna get worse
    https://www.cnbc.com/2017/04/27/global-crude-oil-discoveries-plunge-to-record-low-and-its-gonna-get-worse.html

    Warning of oil shortages as discoveries fall to record low
    https://www.thetimes.co.uk/article/warning-of-oil-shortages-as-global-discoveries-hit-record-low-nmv3x6l03

    Oil Discoveries at 70-Year Low Signal Supply Shortfall Ahead
    https://www.bloomberg.com/news/articles/2016-08-29/oil-discoveries-at-a-70-year-low-signal-a-supply-shortfall-ahead

  38. MASTERMIND on Sat, 21st Jul 2018 8:46 am 

    Clogg

    Halliburton CEO says oil will spike due to oil shortages by 2020 after Industry Cuts
    https://www.bloomberg.com/news/articles/2017-07-12/halliburton-sees-2020-oil-spike-after-industry-cuts-2-trillion

    Total CEO warns we are going to have oil shortages around 2020 due to lack of investment & new discoveries
    http://www.boursorama.com/actualites/je-suis-convaincu-qu-on-va-manquer-de-petrole-selon-le-pdg-de-total-patrick-pouyanne-9b2d911a65572f5f989a74319b68d296

    Oil shortages could push prices all the way to $80, commodities expert says
    https://www.cnbc.com/2017/09/27/oil-shortages-could-push-prices-all-the-way-to-80-commodities-expert-says.html

    Oil is escaping from ‘purgatory,’ as supply fears shift from glut to shortage
    https://www.marketwatch.com/story/how-oil-is-escaping-from-purgatory-as-supply-glut-turns-to-supply-concern-2017-10-25

    World Oil Shortages To Lead To Oil Price Spike By 2020s, warns Goldman Sachs
    http://oilprice.com/Latest-Energy-News/World-News/Supply-Crunch-To-Lead-To-Oil-Price-Spike-By-2020s-Expert-Says.html

  39. MASTERMIND on Sat, 21st Jul 2018 8:46 am 

    Clogg

    UBS Global Bank warns of industry slowdown and world Oil Shortages by 2020
    http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/12136886/Oil-slowdown-to-trigger-supply-crisis-by-2020-warns-bank.html

    Citigroup CEO Ed Morse warns of oil shortages coming soon
    https://www.bloomberg.com/news/articles/2017-09-25/citi-says-get-ready-for-an-oil-squeeze-than-an-opec-supply-surge

    2020s To Be A Decade of Disorder For Oil
    https://oilprice.com/Energy/Energy-General/2020s-To-Be-A-Decade-of-Disorder-For-Oil.html

    All That New Shale Oil May Not Be Enough as Big Discoveries Drop
    https://www.bloomberg.com/news/articles/2017-12-27/all-that-new-shale-oil-may-not-be-enough-as-big-discoveries-drop

    Wood Mackenzie warns of oil supply crunch and world oil shortages around 2020
    https://oilprice.com/Energy/Crude-Oil/The-Next-Oil-Price-Spike-May-Cripple-The-Industry.html

    People are almost completely ignoring a looming crisis for oil
    http://www.businessinsider.com/the-future-of-oil-supply-and-demand-2016-9

    Imminent peak oil could burst US, global economic bubble – study
    https://www.theguardian.com/environment/earth-insight/2013/nov/19/peak-oil-economicgrowth

    Energy watchdog warns oil and electricity shortages could develop as investment falls
    https://www.cnbc.com/2017/07/10/watchdog-warns-of-oil-and-electricity-shortages-as-investment-falls.html

  40. MASTERMIND on Sat, 21st Jul 2018 8:48 am 

    Clogg

    It Will Take 131 Years To Replace Oil, And We’ve Only Got 2
    http://www.businessinsider.com/131-years-to-replace-oil-2010-11

    People are almost completely ignoring a looming crisis for oil
    http://www.businessinsider.com/the-future-of-oil-supply-and-demand-2016-9

    You should be afraid clogg..Very afraid..

  41. MASTERMIND on Sat, 21st Jul 2018 8:48 am 

    North Dakota Department of Mineral Resources Director “We could have worldwide oil crisis by 2021”
    http://www.kfyrtv.com/content/news/Latest-oil-production-numbers-reveal-modest-drop-also-presents-potential-worldwide-oil-crisis-476721983.html

    Are We Sleepwalking Into The Next Oil Crisis?
    https://oilprice.com/Energy/Energy-General/Are-We-Sleepwalking-Into-The-Next-Oil-Crisis.html

  42. Cloggie on Sat, 21st Jul 2018 10:07 am 

    UBS Global Bank warns of industry slowdown and world Oil Shortages by 2020

    http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/12136886/Oil-slowdown-to-trigger-supply-crisis-by-2020-warns-bank.html

    Nowhere does the UBS suggest that the world is running out of oil, only that the world is under-investing exploration and that continued supply AT CURRENT PRICE LEVELS is not guaranteed.

    It is a rational approach by the oil industry not to invest at current price levels, but instead wait until higher oil prices justify new exploration.

    Demand will be met by corresponding supply, by definition. The price mechanism will ensure that.

    Oh the glory of capitalism!

    https://en.wikipedia.org/wiki/History_of_capitalism

    it traces capitalism to early forms of merchant capitalism practiced in Western Europe during the Middle Ages. It began to develop into its modern form during the Early Modern period in the Protestant countries of North-Western Europe, especially the Netherlands (Dutch Republic) and England: traders in Amsterdam and London created the first chartered joint-stock companies driving up commerce and trade, and the first stock exchanges and banking and insurance institutions were established. The world’s earliest recorded speculative bubbles and stock market crashes have their roots in 17th-century Holland. The Dutch Republic was also an early industrialized nation-state in its Golden Age. 17th-century Dutch mechanical innovations/inventions such as wind-powered sawmills and Hollander beaters helped revolutionize shipbuilding and paper industries in the early modern period. The Dutch also played a pioneering role in the rise of the capitalist world-system. World-systems theorists (including Immanuel Wallerstein and Giovanni Arrighi) often consider the economic and financial supremacy of the 17th-century Dutch Republic to be the first historical model of the capitalist hegemony… The first capitalist nation-state was the Dutch Republic in the seventeenth century. This coming to state power by capitalists in an emerging core region signaled the triumph of regional capitalism in the European subsystem.” In Werner Sombart’s words, “In all probability the United Provinces were the land in which the capitalist spirit for the first time attained its fullest maturity; where this maturity related to all its aspects, which were equally developed; and where this development had never been done comprehensive before. Moreover, in the Netherlands an entire people became imbued with the capitalist spirit; so much so, that in the 17th century Holland was universally regarded as the land of capitalism par exellence; it was envied by all other nations, who put forth their keenest endeavours in their desire to emulate it; it was the high school of every art of the tradesman, and the well-watered garden wherein the middle-class virtues throve.”[44] Foundational thinkers for this approach include Adam Smith, Max Weber, Fernand Braudel, Henri Pirenne, and Paul Sweezy.

    We can’t remain modest for ever.lol

  43. MASTERMIND on Sat, 21st Jul 2018 11:00 am 

    Clogg

    It doesn’t matter how much they invest in searching for new oil fields..they don’t exists..oil discoveries peaked back in 1960’s. And we have been consuming more oil than we discovered since 1984..No matter what the oil price was..

    https://imgur.com/a/rBtIrfg

    You are just in denial because you are afraid..Now go run into an authoritarians arms you danzel in distress..

    LMFAO!

  44. MASTERMIND on Sat, 21st Jul 2018 11:06 am 

    Clogg

    The easy oil is gone

    Oil discoveries peaked in the 1960’s.

    Every year since 1984 oil consumption has exceeded oil discovery.

    In 2017 oil discoveries were about 7 billion barrels; consumption was about 35 billion barrels

    Of the worlds 20 largest oil fields, 18 were discovered 1917-1968; 2 in the 1970’s; 0 since.

    https://imgur.com/a/6dEDt

  45. MASTERMIND on Sat, 21st Jul 2018 11:08 am 

    Clogg

    The current price is currently high historically.The average price for a barrel of oil during the entire 20th century was 20 dollars a barrel..

    Source: Reuters
    https://imgur.com/a/XSgJSAs

  46. Cloggie on Sat, 21st Jul 2018 12:27 pm 

    The easy oil is gone

    Oil discoveries peaked in the 1960’s.

    Every year since 1984 oil consumption has exceeded oil discovery.

    In 2017 oil discoveries were about 7 billion barrels; consumption was about 35 billion barrels

    Of the worlds 20 largest oil fields, 18 were discovered 1917-1968; 2 in the 1970’s; 0 since.

    Everybody knows that, but you haven’t grasped the crucial difference between peak conventional oil and peak oil. And then there is the most crucial of them all: peak carbon.

    Expect peak carbon supply to (virtually) happen by 8023 A.D.

    That would be the date that the last atmospheric oxygen molecule will be combined with some carbon atom.

    http://www.dailymail.co.uk/news/article-2593032/Coal-fuel-UK-centuries-Vast-deposits-totalling-23trillion-tonnes-North-Sea.html

    Dermot Roddy, formerly professor of energy at Newcastle University, said: ‘This is thousands of times greater than all the oil and gas we have taken out so far, which totals around six billion tonnes.

    Planet earth has indeed a fossil fuel problem: too much.

    https://deepresource.wordpress.com/2015/04/07/fracking-is-for-amateurs/

    https://deepresource.wordpress.com/2017/01/01/underground-coal-gasification/

  47. Cloggie on Sat, 21st Jul 2018 12:28 pm 

    The current price is currently high historically.The average price for a barrel of oil during the entire 20th century was 20 dollars a barrel..

    The optimal price would be $300 for the planet to thoroughly kick the habit.

  48. MASTERMIND on Sat, 21st Jul 2018 2:58 pm 

    Clogg

    The dailymail is tabloid you moron..and under ground coal isn’t a piratical alternative..And 300 oil would send the world into a depression that would make the 30s look like a children’s party..

    Coal, Oil, and Gas are all peaking in the next decade.

    Projection of world fossil fuels by country (Mohr, 2015)

    Over 900 different regions and subfuel situations were modeled using three URR scenarios of Low, High, and Best Guess. All three scenarios indicate that the consistent strong growth in world fossil fuel production is likely to cease after 2025. The Low and Best Guess scenarios are projected to peak before 2025 and decline thereafter. The High scenario is anticipated to have a strong growth to 2025 before stagnating in production for 50 years and thereafter declining.

    https://www.scribd.com/document/375110317/Projection-of-World-Fossil-Fuels-by-Country-Mohr-2015

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