Tuike wrote:Saudi Arabia to slash oil production again as OPEC+ extends supply curbs -cnn
“The Kingdom [of Saudi Arabia] will implement an additional voluntary cut in its production of crude oil, amounting to one million barrels per day, starting in July for a month that can be extended,” the state-owned Saudi Press Agency said Sunday.
I read elsewhere, KSA produces 10 million barrels of oil per month, so one million is signifigant.
jato0072 wrote:I remember some people at the OIl Drum calling for a bumpy Plateau. It appears to have arrived.
jato0072 wrote: The million dollar question is; when does the decline set in?
jato0072 wrote: It is looking to be sometime after 2030 absent WW3 or some other catastrophic event.
jato0072 wrote:Global Peak Oil may still be in the future. This would explain, in part, why we still have economic growth, even if it is anemic.
ralfy wrote:Also, as pointed out years ago, world oil production per capita peaked in 1979.
This is a possible solution, if you can get all the modern cars sold to be efficient hybrids oil consumption will plummet. You get the benefits of electric motors for taking the load on heavy acceleration while having the reliability of a petrol engine for the long haul. "Toyota Prius Prime trim that comes standard with heated and ventilated front seats." Imagine that, the ability to heat your car in Winter without flattening your battery! So glad I did my research and avoided getting sucked into an EV.The standard Prius Prime gets 127 MPGe
theluckycountry wrote:The standard Prius Prime gets 127 MPGe
I'll look more seriously into these in the future but for now income/petrol prices down here makes it a no-brainer to drive an ICE car. https://www.motorbiscuit.com/much-fully ... rime-cost/
AdamB wrote:theluckycountry wrote:The standard Prius Prime gets 127 MPGe
I'll look more seriously into these in the future but for now income/petrol prices down here makes it a no-brainer to drive an ICE car. https://www.motorbiscuit.com/much-fully ... rime-cost/
And I think your statement as to why your countrymen and obviously you drive ICE cars makes perfect sense.
Thank goodness those who have brains can swim over over to a nearby island full of people who have them.
Electric vehicle sales accelerate to record highs in New Zealand
Tuike wrote:Saudi Arabia and Russia curb oil supply again to try to boost prices -cnn
Saudi Arabia — the world’s biggest exporter of crude oil — said it would extend a cut of 1 million barrels a day in its oil production at least until the end of August. The cut, which took effect on Saturday, was initially planned to last for the month of July in an attempt to shore up oil prices.
Russia’s Deputy Prime Minister Alexander Novak said that his country would voluntarily cut supplies by 500,000 barrels per day in August by cutting exports. Reuters reported, citing Novak’s office, that Russia would reduce production by that amount, deepening a cut of the same size Moscow implemented in March.
And there is no end in sight to Biden's drawdown of the SPR.
jawagord wrote:
Evidence many here don’t read past the headlines of what they post?
[i]Electric and hybrid cars make up a fraction of New Zealand’s overall car fleet, and the rebate scheme is a good start but not the entire solution to the country’s transport woes, one analyst said.
jato0072 wrote:Demand destruction due to global recession?
jawagord wrote:Electric and hybrid cars make up a fraction of New Zealand’s overall car fleet, and the rebate scheme is a good start but not the entire solution to the country’s transport woes, one analyst said.
“We have one of the oldest and dirtiest car fleets anywhere in the developed world,” said Craig Renney, chief economist for the New Zealand Council of Trade Unions. “We need an integrated approach to this problem, which also includes decarbonising our public transport fleet.”
theluckycountry wrote:A lot of wealthy people have emigrated to NZ.
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