Here is Art Berman on youtube.
Investers are shorting oil... they're saying 'there's only 5 or 10 years more demand for oil... I think that's absurd
Here is the IEA WEO executive summary, not one mention of sustaining fossils while transitioning. All the focus is that clean-tech needs to increase exponentially
Here is the EIA STEO:
Oil prices have increased over the past year as result of steady draws on global oil inventories, which averaged 1.9 million barrels per day (b/d) during the first three quarters of 2021. In addition to sustained inventory draws, prices increased after the October 4 announcement by OPEC+ that the group would keep current production targets unchanged.
Mike S., OilyStuff
In spite of all that, every barrel of tight oil Texas now added to US production levels has to be exported to a foreign country; it comes out the ground, goes straight to the Gulf Coast, is put on a ship and sails away. Crude quality matters and US refiners simply can't use any more of the stuff.
Everybody is lying to you about the fact that we have enough shale oil to spare in our nation, that our resources are "unlimited," or that shale oil might be stranded in 5 years because of the transition to renewables and it needs to be produced now...that draining America first, for exports, is a good plan for our nations long term energy security.
https://www.oilystuffblog.com/single-po ... rica-first
It may turn out that Gail was correct after all, the big problem we will face could be peak capitol. Overall energy supply falls due to lack of investment in fossils to sustain the switch. Fossils are still 75% of energy supply and especially the shales but all future production needs constant capitol flow.
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