sparky wrote:.
As the world production relentlessly rise and reach 97millions barrels a day ,
is the "magic" number of 100 Mb/d around the corner ?
Subjectivist wrote:So yes, the world could produce 100 MM/bbl/d of oil, but at what price to the end user?
AdamB wrote:Subjectivist wrote:So yes, the world could produce 100 MM/bbl/d of oil, but at what price to the end user?
Considering that we are already almost there, the answer looks to be something in the vicinity of $50-$60/bbl.
Works for me, when peak oil hit in 2008 (TOD's claimed peak oil) that was the summer the price hit $147! So I think we are all quite happy that 9 years after that claimed peak oil we are at about 1/3 the price of peak oil.
Outcast_Searcher wrote:AdamB wrote:Subjectivist wrote:So yes, the world could produce 100 MM/bbl/d of oil, but at what price to the end user?
Considering that we are already almost there, the answer looks to be something in the vicinity of $50-$60/bbl.
Works for me, when peak oil hit in 2008 (TOD's claimed peak oil) that was the summer the price hit $147! So I think we are all quite happy that 9 years after that claimed peak oil we are at about 1/3 the price of peak oil.
I don't get it. How in the WORLD can we be credibly predicting peak oil NOW, when the biggest problem is that too much oil production has dropped prices so low it is crushing longer term investment?
Outcast_searcher wrote:Now, maybe the worry is what the price could get to at the peaks of the yo-yoing, but that's economic inconvenience, not running out of resources.
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