Newfie wrote:Here is a pretty decent link Revi posted on another thread. It explains how demand destruction can cause falling oil prices in early stages of collapse.
https://ourfiniteworld.com/2019/01/09/2 ... urbulence/
Gail Tverberg isn't exactly a fount of accurate predictions, now is she?
Tanada wrote:....
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The EIA as of last September estimated world tight oil reserves that are 'technically' recoverable amount to 425 Billion bbl. The problem is technically recoverable just means of we follow the process we can squeeze out some result, but it says nothing about the economic viability of doing so. So sure the USA may have 58 billion barrels of technically recoverable oil, but how much of that is economically viable? Half? Eighty percent? Twenty percent? Fracking is such a new technology that the truth is nobody really knows just how much of that technically exploitable oil is economically exploitable as well.
Tanada wrote:Now we are back to getting fairy tales, with the doom crowd saying crash is imminent (as always) and the corny's claiming depletion issues is now again at least a generation in the future. No doubt the truth is somewhere in the middle
vtsnowedin wrote:So in say 2035 we might have oil at better then $300/bl 2019 dollars
While Gail failed to predict the future she was right in line with mainstream thought in the PO community.
Outcast_Searcher wrote:Newfie wrote:Here is a pretty decent link Revi posted on another thread. It explains how demand destruction can cause falling oil prices in early stages of collapse.
https://ourfiniteworld.com/2019/01/09/2 ... urbulence/
On the other hand, Gail Tverberg isn't exactly a fount of accurate predictions, now is she?
ROCKMAN wrote: The price bust subsequently killed the boom.....we’re still a long way from 1,800 rigs drilling, eh?
ROCKMAN wrote: Future and past periods when oil prices will spike upwards AND when they will collapse as economies expand AND contract. Long lines at gas stations post PO? We had those more then 40 years ago…long before any global PO. Global economies crippled many decades ago by high oil prices…again long before a GPO. And good economic growths during relatively low energy price periods.
Butler noted that while PET and HDPE had decent domestic markets and stable pricing, the shale oil revolution and its impact on oil prices and the new virgin capacity expected to come on did not bode well for plastic recycling and recycled plastic pricing over the longer term, and she saw a long haul of low prices.
GoghGoner wrote:Pops, I have heard talk around the water cooler about recycling not being worthwhile anymore but I hadn't made the connection to shale gas. I guess I should start collecting all of those plastics for when those decline rates catch up with the drillers.
GoghGoner wrote:Pops, I have heard talk around the water cooler about recycling not being worthwhile anymore but I hadn't made the connection to shale gas. I guess I should start collecting all of those plastics for when those decline rates catch up with the drillers.
Tanada wrote:Lest we forget the bug experts have now discovered half a dozen worms with gut bacteria that digest PE and PS plastics for energy. By rights if the plastic is too cheap to recycle the logical course of action is to feed it to meal work larvae and feed most of the resulting grubs to poultry. Makes for lots of healthy hens laying lots of nutritious eggs, all based on a waste product and a little system engineering.
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