[ralfy]

FWIW, even when the oil price was much higher, consumption for the rest of the world kept rising while that for the U.S., EU, and Japan dropped.

[marmico]

I guess they'll all get "jobs" as internet hypesters

Unless you live in a cave or a silo, most people think things are ticking/muddling along okay.

[asg70]

The Jobless "Consumer".

I'm all for pointing out the ways the world is going or will go to hell in a handbasket. Crediting peak oil for it is a different story.

Time and again I see peakers shift from a peak-oil mindset over to a general doom mindset, always forgetting to connect the dots. They just go scanning around google news for a depressing story and plant their flag. Doesn't work that way.

The thread is about improving peak oil credibility, not general doomerism.

[AdamB]

So...how about... Improving Peak Oil Credibility?

Good idea!! Any suggestions on how, considering the well has been poisoned by the oil-ignorant zealots, and branded the topic in such a way that it is just a joke at this point?

The bar has been raised in order to convince people that there is an existential threat posed by peak oil.

Yup. Because the NEXT time a peak comes along, the same zealots are going to come out of the woodwork and use the same ideas to claim the same results, and everyone who can objectively google for 10 seconds or so will discover what a crock they are attempting to sell. Again. And require data, thought, analysis rather than the religious belief that seems to be substituted for it on this topic.

[AdamB]

They care about their quality of life.

LOL. The Jobless "Consumer".

Speak for yourself Mr. "Your Currency is Useless...except when you use it to purchase things but I forgot about that".

Want to see the stock chart of General Electric since 2001 (aka dollar turning into worthless shit)? Nah, I didn't think so.

You should see the stock chart for texaco since 2001! Oh, you don't want to, because it doesn't matter either.

So you've been reduced to hyping single stock market movements as proof of the "useless currency" angle you were pitching back in the summer of 2016? The useless currency angle didn't work out as you'd hoped then, but then, none of your ideas have ever worked out yet, have they SL? Why don't you go examine the "why" of that one?

[tita]

FWIW, even when the oil price was much higher, consumption for the rest of the world kept rising while that for the U.S., EU, and Japan dropped.

Indeed... And not just in China. Every developing country was increasing its oil consumption after the "great recession", while it was decreasing in most of the economically developed countries.

It's just that US+Canada+Europe+Japan consume 50% of the oil produced, and have the highest per capita consumption. The elasticity is higher, with more superfluous usage. Consumption decreased by 7.6% in the last ten years.

But Africa, which represents 4% of total consumption (and only 2% if you take out South Africa, Egypt and Algeria) has much less superfluous usage, resulting in a much lower elasticity. Consumption increased by 33% in the last ten years!

So, the idea that poor countries can't afford oil if price goes up is not so simple. And the oil reduction of the "economically developed" countries represent the whole consumption of Africa.

[StarvingLion]

COLLAPSE UPDATE: Siemens stock is down 4% today, 8% in the last 2 days alone. Its in full blown collapse mode. I guess the "renewables" scam is falling apart like everything else.

[rockdoc123]

COLLAPSE UPDATE: Siemens stock is down 4% today, 8% in the last 2 days alone. Its in full blown collapse mode. I guess the "renewables" scam is falling apart like everything else.

My God talk about over the top panic.....it is at the same price it was back in November of 2017, much higher than it was at the start of 2017. Recent drops are part of the bull market correction that has happened recently and reaction to their IPO of the medical subsidiary.

I suggest you stay out of the stock market.

[StarvingLion]

COLLAPSE UPDATE: Siemens stock is down 4% today, 8% in the last 2 days alone. Its in full blown collapse mode. I guess the "renewables" scam is falling apart like everything else.

My God talk about over the top panic.....it is at the same price it was back in November of 2017, much higher than it was at the start of 2017. Recent drops are part of the bull market correction that has happened recently and reaction to their IPO of the medical subsidiary.

I suggest you stay out of the stock market.

Notice how all these renewable energy scams are changing their names...eg: Dong Energy is now Oersted. Oersted Company stock down 4% today. Has been dropping like a rock past 5 days.

Face it, its all about the collapsing US dollar again. Shale "Oil", "renewables",,,,fuggetaboutit. The currency is worthless.
Look at the chaos at peakoilbarrel.com. They are routinely F-wording each other because of mafias (climate change "scientists", sickcare system, "insurance""industry", "renewables", useless electronic tech toys, etc) all sending their bills to a bankrupt entity called fossil fuels.

The ff system is bankrupt. The currency is worthless. We are back to 2001 with the dollar nose diving into the ground. Won't take 7 years this time around. May collapse this year even.

America is one big Detroit. Google "worth" 800 billion??? Hahahahaha...the greatest scam in the history of the earth. Oops I forgot. Google changed its name to Alphabet. Great name, its a baby sitting service for adult children.

[rockdoc123]

The ff system is bankrupt. The currency is worthless. We are back to 2001 with the dollar nose diving into the ground. Won't take 7 years this time around. May collapse this year even.

Again, please stay out of the market for you own good. The US dollar index is at 90.00 down from it’s January high of 101 but 10 points higher than the average from 2008 through 2015. There is a reason they use the word “correction”.

[StarvingLion]

Here is FF collapse in action, people. The lights are about to go off in the UK forever.

Fri 2 March: National Grid’s first “gas deficit warning” for eight years has been withdrawn after supplies increased.

Thurs 1 March: National Grid has warned it may not have enough gas to meet UK demand on Thursday and has asked suppliers to provide more.

[AdamB]

COLLAPSE UPDATE: Siemens stock is down 4% today, 8% in the last 2 days alone. Its in full blown collapse mode. I guess the "renewables" scam is falling apart like everything else.

A stock went down!! Somewhere! Some amount!!

[asg70]

It's COLLAPSE UPDATE, with your anchor, Starving Lion!

[Outcast_Searcher]

COLLAPSE UPDATE: Siemens stock is down 4% today, 8% in the last 2 days alone. Its in full blown collapse mode. I guess the "renewables" scam is falling apart like everything else.

My God talk about over the top panic.....it is at the same price it was back in November of 2017, much higher than it was at the start of 2017. Recent drops are part of the bull market correction that has happened recently and reaction to their IPO of the medical subsidiary.

I suggest you stay out of the stock market.

As far as actual content and quality of content re the economic message, SL sounds a lot like our (apparently recently banned) shortonoil.

Whether its the value of the dollar, any concept of pricing of stocks vs. time, or panic about some detail which is just noise in the big picture, his schtick is quite similar. Sock puppet?

[vtsnowedin]

As far as actual content and quality of content re the economic message, SL sounds a lot like our (apparently recently banned) shortonoil.

Whether its the value of the dollar, any concept of pricing of stocks vs. time, or panic about some detail which is just noise in the big picture, his schtick is quite similar. Sock puppet?

If you look at the member profile for shortonoil there is no flag that says he is banned. Other member such as shortonsense clearly say permanently banned so apparently shortonoil is just keeping quite hoping against hope that oil prices will dive.

[Yoshua]

Something has happened to the WTI price. Inventories has fallen, but the WTI hasn't risen to previous levels. Peak oil will take place if the oil prices stay below the cost of production. Oil companies are still cutting capex to survive in this lower price environment, which will lead to a fall in production in the coming future. If the oil prices don't respond to falling inventories and falling production, then the production will have to continue to fall.

[vtsnowedin]

Something has happened to the WTI price. Inventories has fallen, but the WTI hasn't risen to previous levels. Peak oil will take place if the oil prices stay below the cost of production. Oil companies are still cutting capex to survive in this lower price environment, which will lead to a fall in production in the coming future. If the oil prices don't respond to falling inventories and falling production, then the production will have to continue to fall.

You are placing too much emphasis on Cushing. It is one storage hub of several. Total crude inventory in the US rose three million barrels last week. If that were the only factor prices might decline slightly next week but things like the storms this weekend will also effect prices.

[Yoshua]

U.S total inventories are now at the 5 year average level, but the WTI is at a lower level today. The yield curve has changed from its previous track. There could be several reasons for the change. But if the trend is rising cost of production and falling oil prices, then production must decline and we post peak oil.

[asg70]

apparently shortonoil is just keeping quite hoping against hope that oil prices will dive.

Or trying to escape his lost bet.

[Outcast_Searcher]

Something has happened to the WTI price. Inventories has fallen, but the WTI hasn't risen to previous levels. Peak oil will take place if the oil prices stay below the cost of production. Oil companies are still cutting capex to survive in this lower price environment, which will lead to a fall in production in the coming future. If the oil prices don't respond to falling inventories and falling production, then the production will have to continue to fall.

As if cherry picking Cushing in the short term meant anything in the global scheme of things.

As if WTI prices in the past weeks weren't strongly correlated to the US stock market. The price in general likely would continue trending up, IMO, but when the US market takes a significant hit over a week, the longs get skittish and sell off net WTI contracts, seeking more liquidity.

As if your claim of "lower" WTI prices weren't crushing the 2018 MAP claims of the ETP paper like a bug, week by week.

Nothing new. Nothing surprising, re recent WTI behavior.

This has no more meaning than shortonoil's claims during the Feb. initial US market scare/dip that the US dollar is "worth less than toilet paper", showing a short term DXY chart. Yet if one looks at, say, a ten year chart of the DXY to gain a bit of perspective (as I did to check his claim at the time), then one sees that prior to 2015, the DXY was consistently lower, and averaged meaningfully lower than the recent price hovering near 90.

Oops. So much for the dollar signalling imminent destruction of the US or global economy.

You really don't need to constantly toss out this random nonsense here. Zerohedge and lots of doomer blogs already have that hobby well covered.