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Peak Oil - it's actually happening this time
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2022-01-30 at 6:27 PM UTC
So the big news, which the media has been keeping from you, is that world oil demand collapsed due to covid in April 2020, causing big reductions in world oil production. For instance in 2020 oil prices famously hit negative levels, they'd pay you if you offered to take oil streams off their hand.
However despite the fact that now that covid is no longer so much of a thing, world oil production hasn't been able to rebound. That's because oil wells don't produce as well once you cap them, and besides, oil wells decline at about 7% per year. Meanwhile almost no new oil wells have been brought online since April 2020. The mass hysteria of covid meant everything shut down.
When we say oil has been in a decline, causing a collapse in demand, we mean something like 5-10%. Meanwhile oil (and gas) has been getting used up, and is running out. Despite empty roads and cancelled flights, oil production has been running at like 80% capacity for the last 2 years of fear driven bullshit.
This is Sparta: typical completely empty road in Thermopylae, summer 2020. Everyone else was at home, sheltering in place or some shit.
Anyway, to wrap it up, oil fields are running out all at the same time.
Consider:
https://oilprice.com/Energy/Natural-Gas/UK-Gas-Production-Could-Plunge-75-By-2030.html
UK natural gas could plunge by 75% - blames it on politicians:
Bullshit article, you really think bitch ass English politicians have prevented UK gas pockets from being developed because of environmental bullshit? The UK used to be self sufficient in natural gas. Now they are an importer. That didn't happen due to the green lobby.
https://oilprice.com/Energy/Oil-Prices/OPECs-Shrinking-Capacity-Could-Send-Oil-Above-100.html
https://oilprice.com/Energy/Oil-Prices/Is-100-Oil-On-The-Horizon.html
OPEC+ running out of pumping capacity. In fact most members can't even pump as much as they are allowed to. It's fucking happening.
https://oilprice.com/Energy/Oil-Prices/Goldman-Sachs-Sees-105-Oil-In-2023.html
If Goldman - the jedi bank - is predicting $105 oil, what they mean is at least $150 oil. They understate their price estimates due to political concerns.
Oil running out:
http://peakoilbarrel.com/opec-january-production-data-3/
Look through these charts, and tell me they don't scare you. -
2022-01-30 at 6:49 PM UTC
No high carbon coal left in Germany - at all. -
2022-01-30 at 6:56 PM UTCwtf won't that mean crazy high oil prices if demand were to rebound? driving more exploration and environmental destruction in some retarded apocalypse accelerator?
Or will the price of energy just become crazy high?
Will Technologists save us with the invisible hand an give us all a hopeful future? -
2022-01-30 at 7 PM UTC
Originally posted by Nile wtf won't that mean crazy high oil prices if demand were to rebound? driving more exploration and environmental destruction in some retarded apocalypse accelerator?
Yeah, oil prices are going to about $200 a barrel over the short term, and about $500 a barrel over the medium term. They're currently about $90 a barrel, but much of the cost of petrol, diesel and kerosene is tax, so that the price increase won't cause prices to simply double. -
2022-01-30 at 7:04 PM UTCConsider if you will the case of Ghawar, the biggest oil field in the world.
https://www.bloombergquint.com/business/saudi-aramco-reveals-sharp-output-drop-at-super-giant-oil-field
The following users say it would be alright if the author of this post didn't die in a fire! -
2022-01-30 at 7:07 PM UTC
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2022-01-30 at 7:14 PM UTC
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2022-02-01 at 9:02 PM UTC
Conventional oil (meaning old fashioned drilled for oil) vs unconventional oil (meaning things like fracked and tight oil, shale, etc). Please note the scale, and also the graph is from 2015.
Unconventional oil is only 20% of the total oil production, but there are vast reserves of carbony goo and sludge on earth that can be turned into oil. They claim they can produce a barrel for around $50, which is fairly profitable if you have $100 oil. We'll see if it scales. -
2022-02-01 at 9:31 PM UTC
Originally posted by Donald Trump but much of the cost of petrol, diesel and kerosene is tax,
Not in the US is isn't.
"In Texas, gasoline and diesel fuel are subject to a 20-cent tax per gallon. In addition, the federal government imposes taxes of 18.4 cents per gallon on gasoline and 24.4 cents per gallon on diesel fuel." -
2022-02-01 at 10:11 PM UTC
Originally posted by Jiggaboo_Johnson Not in the US is isn't.
"In Texas, gasoline and diesel fuel are subject to a 20-cent tax per gallon. In addition, the federal government imposes taxes of 18.4 cents per gallon on gasoline and 24.4 cents per gallon on diesel fuel."
That's how you assholes can afford to roll around in retarded oversized vehicles.
There's also taxes, royalties and levies to be paid as the stuff is getting pumped out of the ground too. -
2022-02-02 at 1:05 AM UTC
Originally posted by Donald Trump However despite the fact that now that covid is no longer so much of a thing, world oil production hasn't been able to rebound.
this is mostly due to OPEC refusing to increase production tommake up for the losses they sustained during the pandemic.
Aramco as you can remember, suffered major losses in 2020 and is now trying to patch up the losses.
OIL IS NOT A FINITE RESOURCES. EACH DAY, MILLIONS OF BARRELS OF NEW OIL ARE FORMED IN THE EARTH'S MANTLE JUST AS OUR SKIN SHEDS MILLIONS OF OLD, DEAD SKIN CELLS.
EARTH IS A LIVING THING, LIKE US. AND IT SHEDS OIP RESERVES. -
2022-02-02 at 1:50 AM UTCsomeone said a week or 2 ago to invest in oil
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2022-02-02 at 1:55 AM UTC
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2022-02-02 at 2:08 AM UTCi drunkennly spent all my stock money on crypto and it already went down the amount i bought so now i have to cut into my food money. Fuck. A. NIGGER
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2022-02-02 at 10:15 AM UTC
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2022-02-02 at 10:39 AM UTC
Originally posted by vindicktive vinny this is mostly due to OPEC refusing to increase production tommake up for the losses they sustained during the pandemic.
Aramco as you can remember, suffered major losses in 2020 and is now trying to patch up the losses.
OIL IS NOT A FINITE RESOURCES. EACH DAY, MILLIONS OF BARRELS OF NEW OIL ARE FORMED IN THE EARTH'S MANTLE JUST AS OUR SKIN SHEDS MILLIONS OF OLD, DEAD SKIN CELLS.
EARTH IS A LIVING THING, LIKE US. AND IT SHEDS OIP RESERVES.
Apparently all this abiogenic oil is hiding, as no one has seen it yet. -
2022-02-02 at 1:28 PM UTC
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2022-02-02 at 1:36 PM UTC
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2022-02-02 at 1:52 PM UTC
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2022-02-03 at 1:43 AM UTC
