Peak Oil is You

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Page added on February 27, 2018

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Oil Demand Strong Into 2020

Oil demand will remain strong through at least 2020, pushing spot costs for crude above futures pricing.

That’s the message from Francisco Blanch, Bank of America’s head of commodities and derivative research. Electric vehicles won’t start biting into oil demand until at least 2020,  he said in a Bloomberg Television interview Monday. Blanch expects China to push electric vehicles in its quest for cleaner fuels, but said the technology still needs three to four years to make prices comparable with internal combustion engine vehicles.

China is “going to have a massive geopolitical exposure to global energy,” Blanch said. “They need to wean themselves off the foreign fuel dependency problem they have.”


5 Comments on "Oil Demand Strong Into 2020"

  1. twocats on Tue, 27th Feb 2018 8:10 pm

    I really enjoyed this article and it goes directly to the “oil demand” noted above. people who drone on about EVs or how easy it will be to transition really just don’t have a good imagination and can’t intellectually conceive of all the moving pieces of our civilization; they’re like children, young children, for whom stuff just magically appears before them with no history and no effort.

    the amount of oil it would take to enact the plans laid out in the article… I can tell you the “$14,000,000,000” would be way way way off. We would be, again, talking about real things, and real people doing real things, while simultaneously keeping the existing structures going, and then slowly shifting them from the one structure to the next with hardly a hiccup.

    ONE HALF OF ONE BRIDGE COST $6,400,000,000!!!! just one half a bridge. and now we would be talking about 1,100 miles of seawalls and so on. it’s just pathetic. the article starts in the right place – gotta decommission those nuclear plants asap. of course, that will decimate the electrical grid and accelerate collapse, so there’s that.

  2. twocats on Tue, 27th Feb 2018 8:16 pm 

    oh here’s a quick citation for the $6.4 billion but there are plenty of articles about the reason for the cost overrun.

  3. fmr-paultard on Tue, 27th Feb 2018 8:22 pm 

    california is not run by supertards. the expensive spillway for oroville dam is the same shape from top to bottom. this is flawed because the simple physics that water gains kinetic energy and loses potential energy. It’s only a matter of time before it gets destroyed again.

    a little lesson from supertard Viktor Schauberger would’d helped by making the foot of the spillway wider.

  4. Boat on Tue, 27th Feb 2018 9:03 pm 

    Two cat

    Peak Oil is the end of demand growth. Not a drop less. Demand growth per year is around 1.3 mbpd since 1950. Current consumption per year is around 97 mbpd. How long will it take for EV’s to end growing demand? Around 15 years to get rid of that paltry growth. So no, it ain’t easy idiot. That’s a trend with an estimate. It ain’t magic dumbass. You will never be captain obvious. Grow some humility.

  5. deadly on Wed, 28th Feb 2018 3:03 am 

    The Winter of 2017-2018 has been brutal, definitely a cold one.

    I did use more gas to run my truck so I could do what needs to be done in a day.

    150,000,000 million cars and trucks with 15 gallons of gas in each tank is 2,250,000,000 gallons of gas.

    15 gallons used each week per vehicle, you’ll need 112,500,000,000 gallons of gas.

    The demand is not going to go away any time soon.

    The increase in demand for diesel will be in about a month and a half when farm trucks and tractors start moving to do spring’s work.

    People have to eat, so the demand for fossil fuels will remain strong.

    Electricity is what is important. No spark to ignite the gas will strand you on the road. Without those spark plug wires delivering an electrical charge from the electronic distributor to the spark plugs, it’s no go.

    Electricity rules. Gotta have the proper gap on the points to get the correct flow of electricity to the spark plugs. Timing is critical.

    Without electricity, you’ll be chopping wood for heat and cooking food.

    You’ll be hauling coal with horse-drawn wagons. Mules will be selling for top dollar.

    Hang on to the Weber kettle.

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