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Why the death of oil has been much exaggerated

Consumption

There was a certain inevitability that the coronavirus pandemic and its associated lockdowns would revive the claims that the oil era is all but over.

There is no doubt that the coronavirus was, and indeed remains, a massive shock to the global economy. It has led to a rethink of almost everything we do — including how we consume energy. But this does not mean the need for oil will disappear overnight.

The Economist was among the publications exploring this theme in recent weeks. It is familiar territory for the newspaper that first heralded “The End of the Oil Age” back in October 2003. Seventeen years later, the claim is no less tenuous.

That feature began with what has since become a much-quoted line from a former Saudi energy minister Sheikh Zaki Yamani, who said: “The Stone Age did not end for lack of stone, and the Oil Age will end long before the world runs out of oil.”

It is still questionable that peak oil demand is close and it is still unproven that we have already passed that point. The subdued demand for oil that has accompanied the great hiatus will eventually recover.

Let’s not forget that oil prices have been stable for more than two months with Brent hovering never too far away from the $40 marker. With such volatility everywhere else, across assets and economies alike, that feels remarkably stable.

That is partly explained by the fundamental truth that with or without the COVID-19 coronavirus, the world still needs oil — and will carry on needing it for many years to come.

The coronavirus was undoubtedly a violent shock to the global economy and it is changing the way the world works. But it is unwise to extrapolate too much from that without the evidence to show that the oil age is indeed over as many would now have us believe.

ArabNews



45 Comments on "Why the death of oil has been much exaggerated"

  1. IFuckGlobalismInTheAss on Wed, 22nd Jul 2020 9:51 pm 

    But it is unwise to extrapolate too much from that without the evidence to show that the oil age is indeed over as many would now have us believe.

    Sure honey, I believe you if you say there is plenty of oil left in Middle-East.

    https://www.youtube.com/watch?v=6tw7t31j2M8

  2. Famlin on Wed, 22nd Jul 2020 10:48 pm 

    When the world recovers from virus, the oil consumption will come back and the prices will recover. However the prices wont cross $60 / barrel as new production combined with the increased sales of fuel efficient vehicles, replacing oil fired power with solar power will bring down the price again.

    We can expect to see a more balanced market soon.

  3. IFuckGlobalismInTheAss on Thu, 23rd Jul 2020 8:19 am 

    I made the mistake to go at the World Economic Forum website, I think it is important to look at what the enemy of the Whites race is doing, so I go there regulary to see that the enemy to the Whites race is doing.

    Of course the World garbage forum is still pushing this diversity crap. Who do you think is writing the most about diversity. Yes, losers nations that depends on Whites people to survival like Africa, China, India.

    I fuck globalism in the ass.

    Look a black woman wrote about diversity:

    https://www.weforum.org/agenda/2020/07/diversity-inclusion-equality-intersectionality/

  4. Chrome Mags on Thu, 23rd Jul 2020 10:40 am 

    “There is no doubt that the coronavirus was, and indeed remains, a massive shock to the global economy. It has led to a rethink of almost everything we do.”

    That’s good, because too little thinking about what we were doing to the planet was in play. Maybe it would be good for the Corona Virus to mutate into something more deadly to wake people up even more, since humans tend to quickly slip back into old patterns once the all clear is sounded.

  5. Duncan Idaho on Thu, 23rd Jul 2020 10:56 am 

    “Capitalist realism may, in the coming months, finally get the stake in its heart it so richly deserves. But we should be clear-eyed about the size of the crisis that is roaring toward us, and what we will need to build to weather the worst of it. We have lived through nearly fifty years of the stripping away of what little security the American working class ever had, in a system that was never built for us to thrive.

    We need to begin to construct what will replace it.”

  6. Dredd on Thu, 23rd Jul 2020 12:44 pm 

    Yes indeed, oil is not alive so it can’t die.

    Like viruses ( On The Origin Of The Home Of COVID-19 – 12</a?).

  7. IFuckGlobalismInTheAss on Thu, 23rd Jul 2020 12:57 pm 

    Nice post by Starvinglion and shortonoil. I am waiting for Amargeddon debt summary, of course, if he has time. I am interested at the exponential explosion of debt or any debt data.

    Look the cock suckers at the World Garbage Forum, still think the that Whites race should be the plow horse for the rest of the World. These cock suckers think that 10% of the population ( Whites people percentage of the world) should support on its back 90% of the world population. Fucking not going to happen this time. Of course this does not apply to South Korean and Japanese that make a significant contribution to this world.

    Global cooperation is more vital than ever. This is why

    https://www.weforum.org/agenda/2020/07/global-cooperation-is-more-vital-than-ever-this-is-why/

  8. IFuckGlobalismInTheAss on Thu, 23rd Jul 2020 2:26 pm 

    The WEF is private lobbying firm that China is using to influence European politics. WEF is a private organizing with private membership. You need to pay a big members fee to become member of WEF.

    Notice that the accounting of what is happening within WEF is closed to public eyes. This is how China was able to push Huwaei 5G to some Europe nations like France, UK.

    France refuses to join Huawei ban
    https://www.youtube.com/watch?v=HItHwHn69fc

    Same applied to Canada. WEF is using Chyristia to influence Canada policies.

    WEF is using Chrystia Freeland to influne Canadian politics in favour of China.

    https://www.weforum.org/people/chrystia-freeland

    Of course these are just my personal analysis bases on date I can gather on the WEB. Do what you want with my comment.

    China Stole At Least $1 Billion In Trade Secrets & Research From US: State Dept

    https://www.zerohedge.com/geopolitical/state-dept-china-stole-least-1-billion-trade-secrets-research-us

    The comment on the zerohedge link are goods and seems to come from people that work in University and have deep knowledge of software development and engineering fields.

  9. Duncan Idaho on Thu, 23rd Jul 2020 3:08 pm 

    1908 — US: Nazi sympathizer & Jew-hater Henry Ford sells his first model T. July 30, 1938 Hitler presents highest non-citizen award — “Grand Cross of the Supreme Order of the German Eagle” — to Henry Ford in Berlin. The US Senate, always the first to know, reports in 1974 on Ford Motor Co.’s aid to the Nazi war effort.
    See Charles Higham’s Trading with the Enemy: The Nazi-American Money Plot 1933-1949 (1983).

  10. Duncan Idaho on Thu, 23rd Jul 2020 3:15 pm 

    LOOTING is a natural response to the unnatural & inhuman society of commodity abundance. It instantly undermines the commodity as such, & it also exposes what the commodity ultimately implies: the army, the police & the other specialized detachments of the state’s monopoly of armed violence.

    “Watts 1965: The Decline & Fall of the Spectacle-Commodity Economy,”
    Situationist International Anthology, Ken Knabb

  11. Duncan Idaho on Thu, 23rd Jul 2020 3:23 pm 

    “Life is like a sewer. What you get out of it depends on what you put in.”
    — Tom Lehrer, mathematician/philosopher

  12. Abraham van Helsing on Thu, 23rd Jul 2020 3:45 pm 

    ““Life is like a sewer. What you get out of it depends on what you put in.”
    — Tom Lehrer, mathematician/philosopher“

    But it always stinks, right yiddish mr Lehrer?
    (otherwise apneaman-dunkan wouldn’t post the quote)

  13. makati1 on Thu, 23rd Jul 2020 6:12 pm 

    Duncan, Amerikans have no clue what really happened anytime before their birth and very little after. i have learned a lot since my intro to the internet. The Amerikan propaganda team has obliterated Amerika’s REAL history. Now we are seeing the results. The physical destruction of its symbols.

    Getting more and more “interesting” in the Chinese way. A rainy Friday morning in the land of eternal summer. The Chamber of Commerce is telling the President to open the country 100% before the economy collapse’ I don’t see the economy here suffering too much. Maybe in the cities, but here in the provinces, it goes on almost as usual.

  14. JuanP on Thu, 23rd Jul 2020 6:43 pm 

    Mak, it is great we both hate Americans. I feel like you are my brother

  15. makati1 on Thu, 23rd Jul 2020 6:46 pm 

    JuanP, I don’t “hate” Amerikans. I hate what they have allowed the uo become. i feel sorry for the youth who had nothing to do with it, but they have ot suffer blow-back along with their elders.

    They will not experience anything worse than what the youth of all of Amerika’s plundering and murdering wars of the last 75 years, deaths, starvation, and on and on. So be it. Butter the total collapse of Amerika than a nuclear war.

  16. makati1 on Thu, 23rd Jul 2020 6:47 pm 

    Correction: “I hate what they have allowed the US to become. I feel sorry for the youth…”

  17. Duncan Idaho on Thu, 23rd Jul 2020 7:28 pm 

    Trump is forced into a humiliating concession on the GOP convention after throwing a fit
    https://www.alternet.org/2020/07/trump-is-forced-into-a-humiliating-concession-on-the-gop-convention-after-throwing-a-fit/

    Reality is getting in the way of ideology for the Fat Boy.
    (Taking a positive view of the psychopath)

  18. Duncan Idaho on Thu, 23rd Jul 2020 7:36 pm 

    Ex-cop who kneeled on George Floyd’s neck nearly 9 minutes accused of dodging taxes for years

    https://www.dailykos.com/stories/2020/7/23/1963224/-Ex-cop-who-kneeled-on-George-Floyd-s-neck-nearly-9-minutes-accused-of-dodging-taxes-for-years

    Murder and Tax evasion?
    A Repug for sure.

  19. IFuckGlobalismInTheAss on Fri, 24th Jul 2020 12:06 am 

    These dumb mother fuckers of politicians are useless and stupid as usual.

    Defence forces deployed in Victoria for COVID-19 assistance I SBS News

    https://www.youtube.com/watch?v=1m1JZoOmPLg

    Total losers with no imagination or intelligence of any sort.

    I still want to see how these cock suckers of police are going to build a new civilization without the Whites people. Whites people are in a demographic collapse, especially the whites Nordic race (Russia, Sweden, Norway, and so on). There is not enough Whites people to build a new civilization now.

    I guess dumb Canadians politicians will need to asd the Chinese in Canada to build a new civilization.

  20. IFuckGlobalismInTheAss on Fri, 24th Jul 2020 12:31 am 

    Oh by the way, I want to ask to the dumb politicians in the province of Québec if they did some calculations on the number of litres of diesel needed this Winter to remove snow from Montreal, South shore and North shore streets.

    I guess you did not do that calculations, because Québec politicians are just disgusting stinky piece of dog excrement.

    I am asking because I would like to know which month during the winter season of year 2021 I will die. I don’t think I am asking for too much.

  21. IFuckPoliticansInTheAss on Fri, 24th Jul 2020 2:32 am 

    Melburnians have been getting used to seeing Australian Defence Force personnel in uniform patrolling the streets, after the state called in 1,400 reinforcements to get on top of the spike in new coronavirus cases. But soon those soldiers will be landing on people’s doorsteps, with Victorian Premier Daniel Andrews announcing the ADF will be helping with contact tracing of positive COVID-19 cases.

    https://www.youtube.com/watch?v=rMpsG1h8Z5s

    This cock suckers of politicians in Australia are going full retard on COVID hoax.

    I am White and I will not contribure anything toward bulding a new civilisation, you get that cock sucker. Ask the brown diversity or the negro that you love so much.

  22. Abraham van Helsing on Fri, 24th Jul 2020 4:13 am 

    “because Québec politicians are just disgusting stinky piece of dog excrement.”

    This could be just your site:

    https://www.eurocanadian.ca/

    Or this:

    https://www.theoccidentalobserver.net/

    On second thoughts, maybe a little too intellectual demanding. But I still appreciate your expression of despair, thanks. Confirms my views.

    Fun fact: if you jewgle for “occidental observer” you get the following list, in this order:

    – wikipedia
    – amazon
    – adl
    – splccenter

    Only on place 10 you get the real thing.
    Note that critical, kosher sources are on top.

    Any doubt about who runs the West?

    This should change, if necessary with the aid of Russia and even China. And of course essential US white nationalists.

  23. zero juan on Fri, 24th Jul 2020 4:33 am 

    Nightly dumbass:

    IFuckPoliticansInTheAss said Melburnians have been getting used to seeing Austr…

    IFuckGlobalismInTheAss said Oh by the way, I want to ask to the dumb politicia…

    IFuckGlobalismInTheAss said These dumb mother fuckers of politicians are usele…

    why doesnt israel turn muzz into industrial engine for cheap goods made in israel like china just intercept all aids to muzz and use it to build factory and make muzz produce 1400 years of jizya and jihad killing and a little payback wont hurt said Netherlands admits to paying jihad terrorists who…

    instead of turning muzz into industrial engines for cheap goods we let them run wild and now the UK admits muzz saying bribes but muzz are jihadists bribe is just high english speaking deception said Father of American aid worker Kayla Mueller say &#…

    china got their muzz do work and make cheap goods which i buy over here we have muzz practicing jihad on us and we love them it is hard to compete but we are winning barely said makati1 on Thu, 23rd Jul 2020 7:53 pm Board, Chin…

    lib == muzz said Davy on Thu, 23rd Jul 2020 7:46 pm As long as we…

    Davy said As long as we let liberals live, democracy can’t w…

  24. REAL Green on Fri, 24th Jul 2020 5:11 am 

    Dear Davy,

    TGIF. Ever since Pablo bolted, it has been uneventful and it requires a brief cornholing or a brisk cornhusking, either or. I’ll be working the Pronto truck stop both as a lot lizard and the stalls via glory holes at the St. James exit off of I-44.

  25. the board on Fri, 24th Jul 2020 6:01 am 

    JuanP, no wonder your wife left you!

    JuanP on Fri, 24th Jul 2020 5:11 am

    “Dear Davy, TGIF. Ever since Pablo bolted, it has been uneventful and it requires a brief cornholing or a brisk cornhusking, either or. I’ll be working the Pronto truck stop both as a lot lizard and the stalls via glory holes at the St. James exit off of I-44.”

  26. REAL Green on Fri, 24th Jul 2020 6:16 am 

    Dear Davy,

    Forgot to mention the special this weekend only. Put a bag on it and for $10 more I’ll sit on it.

    Where are you going to get a deal this sweet except for maybe Soulard or the Central West(Best) End!!!

    And don’t forget ur mask.

  27. the board on Fri, 24th Jul 2020 6:24 am 

    juanPee, just masturbate some and you won’t be so sexually disturbed. You really do have every mental problem in the book. You would make a great case study of a lunatic. Maybe a great movie with a dark ending because your life will not end well.

    JuanP on Fri, 24th Jul 2020 6:16 am

    “Dear Davy, Forgot to mention the special this weekend only. Put a bag on it and for $10 more I’ll sit on it. Where are you going to get a deal this sweet except for maybe Soulard or the Central West(Best) End!!!”

    And don’t forget ur mask.

  28. above is supertard der obv supertard you no longer have to present photos ok amigos thanks for speaking low english on Fri, 24th Jul 2020 6:25 am 


    good day to u supertard der

  29. Davy on Fri, 24th Jul 2020 6:56 am 

    I just masturbate some when the goat has a headache so I won’t be so sexually disturbed. I really do have every mental problem in the book. I would make a great case study of a lunatic. Maybe a great movie with a dark ending because my life will not end well.

  30. above not supertard obv supertard goes to grate pain to avoid low english for the love of supremacist muzzies on Fri, 24th Jul 2020 7:37 am 

    please respect supertard

  31. the board on Fri, 24th Jul 2020 8:13 am 

    JuanP on Fri, 24th Jul 2020 6:56 am

    “I just masturbate some when the goat has a headache so I won’t be so sexually disturbed. I really do have every mental problem in the book. I would make a great case study of a lunatic. Maybe a great movie with a dark ending because my life will not end well”

    juanPee, you really are a lunatic case study. Nothing about you is real or normal. Your life must be chaos.

  32. IFuckPoliticianInTheAss on Fri, 24th Jul 2020 9:48 am 

    UK column talk about the mandatory mask in the grocery store in UK. Some grocery store are not going to enforce it.

    Politicans, just all stupid pieces of cat shit. They are totally useless and stupid as usual.

    https://www.youtube.com/watch?v=SY6-jkWQ6z4&t=384s

  33. The Board on Fri, 24th Jul 2020 9:49 am 

    davyskum obv.

  34. zero juan on Fri, 24th Jul 2020 9:54 am 

    the lunatic obv:

    The Board said davyskum obv.

    IFuckPoliticianInTheAss said UK column talk about the mandatory mask in the gro…

  35. IFuckPoliticiansInTheAss on Fri, 24th Jul 2020 10:02 am 

    UK column mask suggestion. People are not laughing at these cocker sucker that politicians are. Hilarious

    https://www.youtube.com/watch?v=SY6-jkWQ6z4&t=1055s

  36. Duncan Idaho on Fri, 24th Jul 2020 10:43 am 

    Trump has clarity:
    https://www.youtube.com/watch?time_continue=96&v=O5p0xBNOvPo&feature=emb_logo

  37. ANSEL REAPER i love supremacist muzzies all i do is swipe excellent prosts here and put up my web sites in 10 years to generate passive incomes im too stupid to farm supremacist muzzies on industrial scale like china did and have a leg up in on Fri, 24th Jul 2020 10:57 am 

    competition for cheap goods

  38. Pualtard aka supremacist muzzies jerk aka social security disability free loader that's me on Fri, 24th Jul 2020 11:16 am 

    i am a case study why forced sterilization must be implemented

  39. Davy on Fri, 24th Jul 2020 11:17 am 

    junapeee, I have full day of socking, pricking and being my usual self planned.

    And I am just getting started.

    You fucked with the wrong asshole, guy.

  40. REAL Green on Fri, 24th Jul 2020 11:20 am 

    Dearest Davy,

    The sad reality of what is happening is we have weaponized the bad behavior of taking people’s identities and using multiple fake handles. This then gets turned against us and the result is a forum any normal person with a rational and intelligent mind will avoid. We don’t care because this is about a childish turf war and we’re king of the hill. And we got nothing better to do with our meaningless widdle life.

  41. IFuckPoliticiansInTheAss on Fri, 24th Jul 2020 11:35 am 

    I always enjoy StavingLion stock market analysis. Have a nice day sir.

  42. the board on Fri, 24th Jul 2020 12:27 pm 

    JuanP on Fri, 24th Jul 2020 11:17 am

    “junaPeee, I have full day of socking, pricking and being my usual self planned. And I am just getting started. You fucked with the wrong asshole, guy.”

    juanPee, you don’t have to tell us the above because that is what you do daily and YES you fucked with the wrong guy. You will struggle to be legitimate. Even on the moderated side you can’t hide, pussy.

  43. the board on Fri, 24th Jul 2020 12:31 pm 

    JuanP on Fri, 24th Jul 2020 11:20 am
    “Dearest Davy, The sad reality of what is happening is I have weaponized the bad behavior of taking people’s identities and using multiple fake handles. This then gets turned against us and the result is a forum any normal person with a rational and intelligent mind will avoid. We don’t care because this is about a childish turf war and we’re king of the hill. And we got nothing better to do with our meaningless widdle life.”

    juanPee, you amaze with your demented honesty sometimes. Yes, you have weaponized behavior with anything possible and you have run off the most intelligent. Why the owners allow you on here is baffling. Maybe the insane side of the forum does not interest them. You do have a meaningless life and you are an idiot.

  44. zero juan on Fri, 24th Jul 2020 12:33 pm 

    Morning with the mentally ill:
    IFuckPoliticiansInTheAss said I always enjoy StavingLion stock market analysis….

    REAL Green said Dearest Davy, The sad reality of what is happening…

    Davy said junapeee, I have full day of socking, pricking an…

    Pualtard aka supremacist muzzies jerk aka social security disability free loader that’s me said i am a case study why forced sterilization must be…

    ANSEL REAPER i love supremacist muzzies all i do is swipe excellent prosts here and put up my web sites in 10 years to generate passive incomes im too stupid to farm supremacist muzzies on industrial scale like china did and have a leg up in said competition for cheap goods

    IFuckPoliticiansInTheAss said UK column mask suggestion. People are not laughing…

  45. More from Davy the bored Lunatic on Fri, 24th Jul 2020 1:55 pm 

    JuanP on Thu, 23rd Jul 2020 6:43 pm

    zero juan on Fri, 24th Jul 2020 4:33 am

    REAL Green on Fri, 24th Jul 2020 5:11 am

    the board on Fri, 24th Jul 2020 6:01 am

    REAL Green on Fri, 24th Jul 2020 6:16 am

    the board on Fri, 24th Jul 2020 6:24 am

    Davy on Fri, 24th Jul 2020 6:56 am

    zero juan on Fri, 24th Jul 2020 9:54 am

    Pualtard aka supremacist muzzies jerk aka social security disability free loader that’s me on Fri, 24th Jul 2020 11:16 am

    Davy on Fri, 24th Jul 2020 11:17 am

    REAL Green on Fri, 24th Jul 2020 11:20 am

    the board on Fri, 24th Jul 2020 12:27 pm

    the board on Fri, 24th Jul 2020 12:31 pm

    zero juan on Fri, 24th Jul 2020 12:33 pm

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