Exploring Hydrocarbon Depletion
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pstarr wrote:rockdoc123 wrote:how about the simple definition which so many people seem to misunderstand?
it is the point at which global production of oil will reach its maximum rate, after which production will gradually decline at an annual rate 6.7%, thus dropping to half in ten short years and essentially zero in forty five.
I believe this is important as it means that economics and technology will have little significant impacts on timing, ultimate value and shape of the peak.
There. I fixed it for you.
Sure. ME reserve reporting is squeaky clean. Like a pig in a possum belly
One entirely credible possibility is that they included probable reserves with proven as the criteria.
But at any rate, most of the questionable reserves revisions are in countries with NOCs and no independent auditing and I've never seen an explanation for that aside from simple coincidence.
wrote:7. Increasing oil prices decrease oil demand° by reducing the amount of oil consumers can afford to purchase. [Supply and Demand]
Pops wrote:...I'm not sure you can say for sure much more than 'no one knows' without it being speculation, can you?
a point made several times is the bump coincides with the point at which OPEC changed the manner by which calculation of production allocations would be handled. One entirely credible possibility is that they included probable reserves with proven as the criteria. This would explain a sudden bump of this nature.
4. Increasing energy expended in finding, developing, extracting and refining oil reduces the 'net energy' available for work.
kildred590 wrote:4. Increasing energy expended in finding, developing, extracting and refining oil reduces the 'net energy' available for work.
It's much more important than that.
It reduces "net labour"
Labour drives growth (a commodity has no value until labour is applied).
So a reduction in labour will reduce the money supply (which is what we are seeing right now).
Keith_McClary wrote:I know this isn't about countering the standard cornie talking points (that's your next assignment ),
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