Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)

Donate Bitcoin



Donate Paypal

Page added on March 10, 2017

Bookmark and Share

Shell CEO: Peak oil demand could arrive in late 2020s

The global demand for oil could peak as soon as the late 2020s as the world continues to rely more on natural gas and renewable energy sources, Royal Dutch Shell CEO Ben van Beurden said Thursday at the CERAWeek by IHS Markit conference in Houston.

Van Beurden acknowledged he disagrees with many of his energy CEO counterparts who contend oil demand will grow for several decades to come.

That’s partly why Shell said Thursday it’s divesting from most of its Canadian oil sands position by selling its acreage in an $8.5 billion deal to Canadian Natural Resources — $5.4 billion in cash and $3.1 billion in Canadian Natural shares. In a separate deal, Shell is paying $1.25 billion to Houston’s Marathon Oil to maintain a smaller oil sands stake.

Van Beurden said the world must dramatically reduce its carbon dioxide emissions to meet Paris climate accord goals. But he emphasized that doesn’t mean eliminating the use of fossil fuels.

“The largest contribution Shell can make to reducing emissions globally in the near term is to continue to grow the role of natural gas,” van Beurden said, noting that gas burns cleaner than crude and coal.

About half of Shell’s portfolio is now natural gas.

Shell also will continue to invest in wind, biofuel, hydropower and carbon capture projects, he said. But it will do so when and where it’s economically advantaged, admitting that Shell has in the past invested too early in renewables that couldn’t yet turn a profit. Van Beurden also argued that other industries must reduce carbon emissions; it cannot be left to the energy sector alone.

He said governments worldwide must do more to enact the right policies, including doing more to put a price, or tax, on carbon emissions. Such proposals have proven dead on arrival in the U.S. Congress.

Shell has supported carbon pricing since the late 1990s, he said. “We haven’t been very successful.”

“The world needs more energy,” van Beurden said. “But we also need to produce all that energy while emitting much less carbon dioxide. This is of course a key driver behind the energy transition.”

He called the effort a “multi-decade transition program,” noting it will also take decades to finally get all of the right policies in place with some countries moving much faster than others.

Shell isn’t done with oil either. Shell is continuing to invest more in the deepwater Gulf of Mexico, as well as in Argentinian shale plays like the Vaca Muerta. He said Shell recently drilled the cheapest well in the Vaca Muerta yet using the assistance of a drilling team working remotely from Calgary in Canada.

FuelFix



87 Comments on "Shell CEO: Peak oil demand could arrive in late 2020s"

  1. Cloggie on Fri, 10th Mar 2017 8:43 am 

    And Shell Oil, umm make that Shell Renewable, intends to play a big role in reinventing itself:

    https://cleantechnica.com/2016/12/14/shell-consortium-sets-new-lowest-offshore-wind-price-700-mw-borssele-iii-iv-wind-farms/

    Royal Dutch Shell, that recognizes a pipe if it sees one, knows what energy is and also knows how to drill a hole, will effortlessly reinvent itself into a renewable energy company like offshore wind energy and geothermal.

    Forget about peak oil supply, Mother Nature will keep delivering; forget about the entropy juggling of the HillBilly Group; forget about “low-hanging fruit cake” Ricky Heinberg.

    Peak Oil Demand is the next big thing.

  2. Sissyfuss on Fri, 10th Mar 2017 9:27 am 

    Cloggasaurus, you are one big BAU dinosaur. You’re pushing cigarettes to someone with stage 4 lung cancer. As long as growth in human numbers continues, all things natural, aka life giving, will disappear. Something you should have done long ago, perhaps during the PETM.

  3. Cloggie on Fri, 10th Mar 2017 9:36 am 

    Cloggasaurus, you are one big BAU dinosaur. You’re pushing cigarettes to someone with stage 4 lung cancer.

    Not at all. I’m merely supporting the transition, away from fossil fuel, without knowing in advance how far we will get.

    Furthermore, I haven’t the faintest idea of what you stand for, other than producing sneers and passively undergo the suicide of your society. Probably you stand for nothing, safe bet.

  4. Sissyfuss on Fri, 10th Mar 2017 11:48 am 

    I am a Gaian, Bozo. A non-breeding tree-hugger that lives Walden style in the woods of spirit and biodiversity. I am nothing more than a witness to the witless. I refuse to ignore the carnage while at the same time protect my section of the Earth as best I am able. I am a dead man walking without a future, Raskolnikov of the 21st century. My belief system cannot stand against a 6th mass extinction so I abandoned it. I envy your projection of renewable success but reject it in toto. The masses demand hopium, give it to them if it assuages your ego. Mine is too deflated to care.

  5. Cloud9 on Fri, 10th Mar 2017 11:59 am 

    Isn’t peak demand another way of saying existing reserves are no longer economically viable? The arguments on this board remind me of the fable of the blind men examining an elephant. Each senses a bit of the puzzle, but consensus is difficult to reach.

  6. Cloggie on Fri, 10th Mar 2017 1:04 pm 

    Peak oil demand. Here is why:

    Pointers to existing or under construction offshore wind installation capacity. the entire world is on the eve of an offshore wind power installation boom:

    https://www.youtube.com/watch?v=vZUOvIoUbNM

    http://splash247.com/longyuan-zhenhua-orders-wind-turbine-installation-vessel-zpmc/

    https://www.youtube.com/watch?v=xKYClcExkMY

    http://www.windenergyhamburg.com/en/the-fair/exhibitors-products/exhibitor-news/installation/

    http://www.ship-technology.com/projects/pacific-orca-wind-farm-installation-vessel

    http://www.openpr.com/news/393595/Global-Offshore-Wind-Turbine-Installation-Vessel-Market-2016-Industry-Demand-Insight-Forecast-By-2021.html

    http://www.offshorewindmagazine.com/wfsv-directory-0

  7. Boat on Fri, 10th Mar 2017 1:55 pm 

    Clog,

    When is oil going to peak. When is demand going to start dropping. Got any time frames?

  8. Cloggie on Fri, 10th Mar 2017 2:05 pm 

    Nobody knows, but the Shell bloke could very well be correct. In hindsight.

  9. Boat on Fri, 10th Mar 2017 2:21 pm 

    Clog,

    Electric vehicles will have cost reductions like wind and solar have had and then a few years to get to scale to get rid of 1.2-1.4 yearly oil demand. 2020 is simply not enough time. This Shell guy must be a PH.D. Like the boys in the hills group.

  10. Cloggie on Fri, 10th Mar 2017 2:25 pm 

    2020?

    The title of the article says “late 2020s”.

    Shell and the HillBilly Group, these are very different leagues.

  11. Boat on Fri, 10th Mar 2017 2:40 pm 

    Clog,

    2029 could possible happen but a lot of tech breakthroughs would have to happen. A year or so ago I was guessing peak oil to be 2030 + – 5 years. My apology to the Shell guy.

  12. Cloggie on Fri, 10th Mar 2017 2:46 pm 

    Pictures from Belfast:

    https://www.youtube.com/watch?v=VrnoLzactHE

    The Irish Sea is also very suitable for offshore wind:

    http://tinyurl.com/gpkjngo

    http://www.offshorewind.biz/2016/06/21/dong-to-invest-gbp-5-4-billion-in-east-irish-sea-wind-farms-by-2019/

  13. Cloggie on Fri, 10th Mar 2017 2:50 pm 

    This once is huge, largest in the world:

    Pacific Orca Wind Farm Installation Vessel:

    http://www.ship-technology.com/projects/pacific-orca-wind-farm-installation-vessel

    Can carry 12 3.6 MW turbines.

    Singapore.

  14. Kingbreaker on Sat, 11th Mar 2017 12:05 am 

    Lol, Wind is horrible on the grid. It’s unbalanced energy that will never be cheap or serviceable.

    It’s like trying to feed your kid by throwing skittles down a hallway a bucket at a time.

    Want to invest in the future? Steam driven machine shops. Start them as a novelty, love them as your economy becomes very local, very quickly.

  15. maglie inter on Sat, 18th Mar 2017 12:16 am 

    I’m now not certain where you are getting your information, but great
    topic. I needs to spend a while learning much more or
    understanding more. Thanks for excellent information I was in search of this info for
    my mission.
    maglie inter

  16. you Can check here on Mon, 27th Mar 2017 2:39 pm 

    through a tabletoop card reader, which transmits the card information to the credit card issuer, which in turn responds with a code indicating the transaction has been accepted or
    denied. The Nintendo Wii comes with one remote controlled – the Wiimote – aand onee Nunchuk, that is
    definitely a activity sensing analog controller that attaches to the wireless Wiimote.
    Third party credit cad processing vendors are strictly dedicated to handling credit ard
    processing and are experts at taking care of all aspects off the credit card transaction rocess such as authorization, billing annd reporting.

  17. Quitspot4.Blogocial.Com on Mon, 27th Mar 2017 3:19 pm 

    http://quitspot4.blogocial.com/-Armas-Secretas-Do-Improviso-De-Ricardinho-Para-so-3858936

  18. fotballdrakter on Wed, 29th Mar 2017 2:49 am 

    I’m very pleased to discover this great site. I need to to thank you for your time just
    for this fantastic read!! I definitely enjoyed every part of
    it and I have you bookmarked to look at new
    stuff in your site.
    fotballdrakter

  19. Sacs Longchamp Pliage on Thu, 6th Apr 2017 8:29 pm 

    I’d like to thank you for the efforts you have put in writing this blog.
    I’m hoping to check out the same high-grade content by you later
    on as well. In fact, your creative writing abilities has encouraged me to get
    my own site now 😉
    Sacs Longchamp Pliage

  20. hypnosis porn on Fri, 28th Apr 2017 12:53 pm 

    I pay a visit daily some web pages and blogs to read content, except this blog gives quality based
    content.

  21. Boat on Fri, 28th Apr 2017 3:41 pm 

    Clog,

    Siemens and Dong are looking at 13-15 MW wind turbines as early as 2023. You can’t stop tech.

  22. Sissyfuss on Fri, 28th Apr 2017 6:16 pm 

    You can’t have Siemen without a Dong, Boatbot.

  23. Poker Online on Wed, 21st Jun 2017 11:40 pm 

    WҺats up very nice web site!! Guy .. Excellent ..
    Amɑzing .. I will boߋкmark your web site and take the feeds additionally?
    І am satisfied to find numerous usefuⅼ information here in the put up, we need
    work out more strategies in this гegard, thаnk you for sharing.

    . . . . .

  24. sears on Thu, 22nd Jun 2017 3:11 am 

    This post is really a pleasant one it helps new the web visitors, who are wishing in favor of blogging.

  25. link vao m88bet on Fri, 23rd Jun 2017 11:52 pm 

    I blog quite often and I seriously thank you for your content.
    This article has truly peaked my interest. I will book mark your
    blog and keep checking for new information about once a week.
    I opted in for your RSS feed as well.

  26. Elmer on Fri, 30th Jun 2017 9:31 am 

    Genuinely no matter if someone doesn’t know then its up to other people that they will help, so here it
    takes place.

  27. clavier arab on Wed, 19th Jul 2017 4:40 pm 

    I һave been surfinhg online mоre than three hours today, yet I never found any interesting aгticle like yourѕ.
    It’s pretty worth enough for me. In my view, if alⅼ site ownners and bloggers made good content as you did, the net will be much more useful than eveг before.

  28. hoc ielts o dau on Sat, 22nd Jul 2017 9:34 am 

    No matter if some one searches for his vital
    thing, therefore he/she wishes to be available that in detail, so that thing is maintained over here.

  29. hasiltogel9.com on Mon, 24th Jul 2017 11:53 am 

    The Small Freestanding Bath And Back To Wall Combo.
    Don’t’ forget to click on the Slide Show and Video to your left.
    When you call Disney directly, the phone reps are not permitted
    to volunteer the fact that a discount may be available.

  30. hoc tieng han quoc o dau tot on Fri, 28th Jul 2017 2:10 am 

    Quality articles is the important to interest the visitors to pay a
    quick visit the website, that’s what this web page is providing.

  31. itube for android on Tue, 1st Aug 2017 11:36 am 

    Hi, after reading this amazing post i am too glad to share my familiarity here with colleagues.

  32. resume writer service calgary on Wed, 2nd Aug 2017 8:58 am 

    Appreciating the dedication you put into your blog and detailed
    information you offer. It’s awesome to come across a blog every once in a while that isn’t the same old
    rehashed material. Great read! I’ve saved your site and I’m adding
    your RSS feeds to my Google account.

  33. Ultimos Estrenos on Sat, 19th Aug 2017 12:13 pm 

    An outstanding share! I’ve just forwarded this onto a colleague who was conducting a little research on this.
    And he actually bought me lunch simply because I discovered it for
    him… lol. So allow me to reword this…. Thank YOU for the meal!!
    But yeah, thanks for spending the time to discuss this
    topic here on your site.

  34. escort on Mon, 28th Aug 2017 8:32 pm 

    Just desire to say your article is as astounding. The clarity in your put
    up is simply nice and that i can assume you’re an expert in this subject.
    Fine along with your permission let me to clutch your
    RSS feed to stay updated with impending post. Thanks 1,000,000 and please keep up the gratifying work.

  35. Outdoor LED on Mon, 28th Aug 2017 10:36 pm 

    Thanks a lot for sharing this with all of us you actually understand what you are speaking about!
    Bookmarked. Please also discuss with my website =).

    We can have a link trade contract among us

  36. https://ru.tradebearings.com on Mon, 28th Aug 2017 11:48 pm 

    Hurrah! After all I got a website from where I be capable of in fact get valuable information concerning my study and knowledge.

  37. Compare Medicare Supplement plans 2018 on Tue, 29th Aug 2017 6:10 pm 

    If you are going for best contents like myself, just go to see this web page daily for
    the reason that it offers feature contents, thanks

  38. LED panel light on Thu, 31st Aug 2017 9:36 am 

    I have read so many articles or reviews concerning
    the blogger lovers except this article is genuinely a
    pleasant post, keep it up.

  39. sex on Thu, 31st Aug 2017 8:23 pm 

    What i don’t understood is actually how you’re not actually a lot more neatly-liked
    than you might be now. You’re so intelligent. You realize therefore
    considerably relating to this topic, produced me in my opinion imagine it from numerous numerous angles.
    Its like women and men don’t seem to be involved until it’s something to
    do with Lady gaga! Your personal stuffs nice.

    At all times deal with it up!

  40. 18+ on Fri, 1st Sep 2017 5:09 pm 

    It’s really very complex in this full of activity life to listen news on Television, thus
    I just use web for that reason, and obtain the newest information.

  41. Leonard Cohen Hallelujah Lyrics on Mon, 4th Sep 2017 2:59 pm 

    I’m extremely pleased to find this web site. I wanted to
    thank you for your time due to this wonderful read!!
    I definitely enjoyed every part of it and i also have you book-marked
    to look at new stuff on your website.

  42. sex on Tue, 5th Sep 2017 11:49 am 

    I believe what you posted was actually very reasonable.
    But, think about this, what if you were to write
    a killer title? I mean, I don’t wish to tell you how to run your website, however what if you added a
    post title that grabbed a person’s attention? I mean Shell CEO:
    Peak oil demand could arrive in late 2020s  | 

    Peak Oil News and Message Boards is kinda boring. You could peek at Yahoo’s front page and see
    how they create post headlines to get viewers interested.
    You might add a related video or a related picture
    or two to grab people excited about what you’ve written. Just my opinion, it might bring your blog a little livelier.

  43. xnxx on Tue, 19th Sep 2017 7:46 pm 

    Unquestionably believe that which you stated. Your favorite justification seemed to be on the internet the easiest thing to
    take into accout of. I say to you, I definitely get irked at the same time as folks think about
    worries that they plainly do not understand about. You controlled to hit the
    nail upon the highest as smartly as outlined out
    the entire thing without having side effect , people could take
    a signal. Will probably be again to get more.
    Thanks

  44. Notes and homework on Fri, 29th Sep 2017 10:43 am 

    wonderful issues altogether, you just gained a logo
    new reader. What could you suggest in regards to your put up that you just made some days ago?
    Any positive?

  45. Truyen Ngan Cam Dong on Wed, 15th Nov 2017 3:31 am 

    Magnificent website. Plenty of helpful info here.
    I’m sending it to a few pals ans additionally
    sharing in delicious. And obviously, thanks for your effort!

  46. Cerita Mesum hari ini on Wed, 15th Nov 2017 10:18 am 

    We’re a bunch of volunteers and opening a brand new scheme in our community.
    Your site provided us with useful information to work on. You’ve done a formidable
    activity and our whole neighborhood will likely be thankful to you.

  47. brico on Wed, 20th Dec 2017 9:59 pm 

    Thanks for some other informative site. The place else could
    I am getting that kind of info written in such a perfect approach?
    I’ve a project that I’m just now operating on, and I’ve been on the glance out for such information.

  48. Gabriella on Wed, 20th Dec 2017 11:14 pm 

    Fantastic bedat ! I would like to apprentice at the same time as you amend your web
    site, how can i subscribe for a weblog site?
    Thhe account aided me a acceptable deal. I had been a little bbit familiar of this your
    broadcast privided vivid clear concept

  49. te verde on Wed, 27th Dec 2017 11:48 pm 

    I really like looking through an article that can make people think.
    Also, thank you for allowing for me to comment!

  50. xem truc tiep wc on Sun, 13th May 2018 12:32 am 

    Lol, Wind is horrible on the grid. It’s unbalanced energy that will never be cheap or serviceable.
    It’s like trying to feed your kid by throwing skittles down a hallway a bucket at a time.
    Want to invest in the future? Steam driven machine shops. Start them as a novelty, love them as your economy becomes very local, very quickly.

1 2

Leave a Reply

Your email address will not be published. Required fields are marked *