by Pops » Wed 02 Dec 2020, 09:30:54
I'll just point out FWIW, "derivatives of natural gas" are natural gas liquids, Lease and Plant condensates along with stuff that condenses from oil well gas. These have been included in measures of oil "crude + condensate" production/consumption since about forever.
But beyond that, when I pull my coal-roller up to the pump, it doesn't matter a whit to me whether I fill up from a vertical, horizontal, stimulated, fracked; foreign or domestic well; an oil/gas/tar, corn or turkey gut source, as long as I can afford the fare.
The problem with PO is all the original pundits (Hubert/Campbell/Laherrere/ etc) assumed past performance could predict future results, i.e., that the Hubert linearisation was a crystal ball. Turns out it isn't. It really can't predict ultimate production, reserve growth, discovery or technology. Which doesn't negate the premise—extraction of any finite resource will have a beginning, middle and end and at some point there will be a point of maximum production, a peak—it merely puts Peakers in the same boat as everyone else.
Which, as we all know about conspiracists, is where we hate to be, LOL The idea that covid and PO are the new tool of the global commie plot is... just another example. If you get to thinking: "oohh! I'm special, I know the REAL truth and billions of others are blind!" you'd better check yourself.
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)