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Page added on December 27, 2018

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Peak Oil? Unlikely In The Near Term

Consumption

WTI: surges 10% on Boxing Day.

Peak oil? Maybe for Saudi Arabia? One of my themes over at “the big stories” is the growing gap between Europe and the US when it comes to being energy sufficient. Major sub-themes include:

  • US energy centers of gravity
  • natural gas and coal in the post-nuclear world
  • the Saudi – OPEC myth
  • Japan’s energy crunch

But one of the sub-themes I follow often is “Europe at a tipping point.”

I was reminded of that when I came across this oilprice headline: US oil output will nearly equal Saudi and Russian production combined by 2025.

2025?

Are you kidding?

As far as politics go, it’s already 2020.

2025 is only five years from 2020.

That means that I will (most likely) live to see that milestone.

The prediction is from the IEA chief.

My hunch is that it is “fake news.” The IEA chief is beating the drum to increase CAPEX spending on conventional oil — or in other words, increase spending in the Mideast and Russia, and not the US. This is another shout-out to the Saudis and the Russians that they need to accelerate oil activity in their own backyards if they don’t want to be over-shadowed by the US.

But if he’s accurate … wow!

 

themilliondollarway.blogspot.com



65 Comments on "Peak Oil? Unlikely In The Near Term"

  1. JuanP on Fri, 28th Dec 2018 3:53 pm 

    Fuck off cloggie. I can be MOB or you when I want.

  2. Davy on Fri, 28th Dec 2018 3:55 pm 

    BTW, thanks for the support nederliar, you racist nazi pig. I hope we can be best friends again forever.

    Stupid dumbass

  3. More Davy Identity Theft on Fri, 28th Dec 2018 3:57 pm 

    JuanP on Fri, 28th Dec 2018 3:53 pm

  4. JuanP on Fri, 28th Dec 2018 4:03 pm 

    BTW, thanks for the support nederliar, you racist nazi pig. I hope we can be best friends again forever.
    Stupid dumbass

  5. Juanp on Fri, 28th Dec 2018 4:05 pm 

    I am responsible for this forum’s distruction

  6. JuanP on Fri, 28th Dec 2018 4:08 pm 

    I mostly agree with Cloggie, Davy, and I’m not the one who always calls him nederliar, nedernazi, or a racist pig.

  7. Davy on Fri, 28th Dec 2018 4:16 pm 

    JuanP, you have no position. You only seek to scramble the forum into a gooey mess. You speak in other people voices as needed to disrupt and distort. You belong on an extremist site where people like you beat their heads against the wall together in meaningless insanity.

  8. JuanP on Fri, 28th Dec 2018 4:21 pm 

    That’s destruction, not distruction.

    Dumbass

  9. Cloggie on Fri, 28th Dec 2018 4:25 pm 

    Poor mobster is talking to himself again.

    Reminds me of a special trait that his tribe of TalmudTurks is especially predisposed to

    Schizophrenia:

    https://www.haaretz.com/.premium-ashkenazi-gene-increases-schizophrenia-1.5294333

    “Scientists Discover Gene That Predisposes Ashkenazi Jews to Schizophrenia”

    And these people are lording over you, dear Americans.

    Until they don’t.

    #110

  10. More Davy Identity Theft on Fri, 28th Dec 2018 4:55 pm 

    JuanP on Fri, 28th Dec 2018 3:50 pm
    JuanP on Fri, 28th Dec 2018 3:51 pm
    JuanP on Fri, 28th Dec 2018 3:53 pm
    JuanP on Fri, 28th Dec 2018 4:03 pm
    Juanp on Fri, 28th Dec 2018 4:05 pm
    JuanP on Fri, 28th Dec 2018 4:08 pm
    JuanP on Fri, 28th Dec 2018 4:21 pm

  11. The Truth Shall Set You Free on Fri, 28th Dec 2018 7:14 pm 

    Spoonfed Spooner,,,

    “What do you get when a Miami Beach asshole playboy gets a GED? A JuanPrick“

    Fuck that was funny, Spoonster, I nearly pissed myself

  12. JuanP on Fri, 28th Dec 2018 8:33 pm 

    ROFLMFAO!

  13. Not JuanP on Fri, 28th Dec 2018 11:10 pm 

    @ JuanP

    .

  14. Antius on Sun, 30th Dec 2018 5:53 am 

    This article is specious. It focuses on volume rather than quality. Production of diesel and fuel oil, the fuels that allow transport of real goods and therefore power the global economy; has barely risen since 2008 and shows clear signs of absolute decline.

    https://srsroccoreport.com/has-peak-diesel-arrived-the-data-doesnt-look-good/

    Fuel oil production is only two-thirds what it was in 2008. It was the fuel of choice for shipping, backup power plants and heating. Increasingly, it is now cracked to produce diesel. Diesel production peaked in 2015 and is now down by 5% on peak. The only time that happened before was at the height of the financial crisis in 2008.

    Unconventional oil production has not been very useful for producing the fuels that do real work in powering the distribution of real goods. Shale oil is light condensate. So are natural gas liquids. Biofuels are essentially destroying food to produce fuel. Canadian tar sands are energy and labour intensive and face bottlenecks that make it difficult for them to replace more than a small fraction of conventional oil production.

    People claiming that renewable energy will allow a seamless transition to some kind of post fossil economy in Europe or anywhere else, are not being realistic. So far, these energy sources have produced modest amounts of intermittent electricity, that would not be usable without fossil fuel backup power stations. The scale of transition required to achieve a mostly renewable based energy economy that provides anything like the prosperity that we have grown accustomed to is mind boggling. It will require a very different way of life. Thus far, we have failed to make the deep changes necessary.

  15. Cloggie on Sun, 30th Dec 2018 6:19 am 

    Production of diesel and fuel oil, the fuels that allow transport of real goods and therefore power the global economy; has barely risen since 2008 and shows clear signs of absolute decline.

    Is compensated for by better truck mileage:

    https://www.epa.gov/sites/production/files/styles/large/public/2018-01/f-01-2017.png

    The public may love SUVs, transport entrepreneurs are only interested in mileage. Between 2004-2015, truck mileage improved from 17 to 22 mpg. That’s 29% more miles for the same fuel volume.

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