Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 11-23-2021, 03:23 PM
 
19,493 posts, read 17,723,603 times
Reputation: 17025

Advertisements

Quote:
Originally Posted by Taggerung View Post
Deny it all you want, the fact is that shale oil is very expensive oil. It is immensely more capital, energy, labor, and resource intensive than the old conventional oil of the 1920s. The techno industrial system and economy cannot run on expensive shale oil, it requires cheap and easy to extract, refine and transport, oil. However, that oil has been mostly depleted in the US, which is why the US is doing shale oil in the first place.

Not only does shale oil not refute peak oil, it proves it.
Excusing the false dilemmas and histrionics gas cost more in 1920 than today in real terms.
Quick reply to this message

 
Old 11-23-2021, 04:25 PM
 
4,873 posts, read 3,572,760 times
Reputation: 3881
Peak oil is a myth. By the time we would've used all the oil we will have long since boiled away human civilization and obviated the need for oil in the first place. It's a self-solving problem.


Edit: The real question is, when do we have to stop using oil in order to avoid dooming humans to fade away on a dying planet? And the answer is about 20 years ago.
Quick reply to this message
 
Old 11-23-2021, 04:31 PM
 
Location: Flyover part of Virginia
4,231 posts, read 2,421,175 times
Reputation: 5058
Quote:
Originally Posted by FrankMiller View Post
Peak oil is a myth. By the time we would've used all the oil we will have long since boiled away human civilization and obviated the need for oil in the first place. It's a self-solving problem.


Edit: The real question is, when do we have to stop using oil in order to avoid dooming humans to fade away on a dying planet? And the answer is about 20 years ago.
The planet isn't dying, it is alive and well. Man's civilization as we know it may be doomed, but the earth-she'll be just fine.
Quick reply to this message
 
Old 11-23-2021, 04:35 PM
 
4,873 posts, read 3,572,760 times
Reputation: 3881
Quote:
Originally Posted by Taggerung View Post
The planet isn't dying, it is alive and well. Man's civilization as we know it may be doomed, but the earth-she'll be just fine.
How comforting lol
Quick reply to this message
 
Old 11-23-2021, 04:39 PM
 
Location: NNV
3,433 posts, read 3,689,327 times
Reputation: 6732
Quote:
Originally Posted by Taggerung View Post
In the entire first page of threads in the economics sub-forum, only two are about peak oil, and only one of those threads was started by me (the resident peak oil "doomsayer.")

But people can keep ignoring oil and energy to their own peril. I once heard some clown on a mainstream financial news network say how he's not worried about energy industries underperforming because they only make up 2% of the DOW. Apparently, he doesn't realize that without oil, without energy, there is no Dow Jones, NASDAQ, S&P 500, Russell 2000, etc.
So do you get around on horse and buggy?
Quick reply to this message
 
Old 11-23-2021, 04:50 PM
 
Location: Flyover part of Virginia
4,231 posts, read 2,421,175 times
Reputation: 5058
Quote:
Originally Posted by Vic Romano View Post
So do you get around on horse and buggy?
There's an Arab saying that goes something like this:

"My father rode on a camel. I ride in in a sports car. My son rides on a private jet. And his son will ride on a camel."
Quick reply to this message
 
Old 11-23-2021, 05:47 PM
 
Location: NNV
3,433 posts, read 3,689,327 times
Reputation: 6732
Quote:
Originally Posted by Taggerung View Post
There's an Arab saying that goes something like this:

"My father rode on a camel. I ride in in a sports car. My son rides on a private jet. And his son will ride on a camel."
There's a Chinese proverb:

"Before preparing to improve the world, first look around your own home three times."
Quick reply to this message
 
Old 11-23-2021, 06:08 PM
 
4,873 posts, read 3,572,760 times
Reputation: 3881
Quote:
Originally Posted by Vic Romano View Post
There's a Chinese proverb:

"Before preparing to improve the world, first look around your own home three times."
I got dizzy and fell down from this Communist trick.
Quick reply to this message
 
Old 11-23-2021, 06:10 PM
 
15,092 posts, read 7,146,018 times
Reputation: 18967
Quote:
Originally Posted by Taggerung View Post
Yeah, fools point to shale oil all the time as if that somehow disproves peak oil, without realizing that shale oil has never been able to cover its own enormous operating costs.
That depends on which shale oil fields you are talking about. Shale oil operated by rational people makes money, but production won't be as high as at the peak before Covid. That's because there's a million or barrels per day of shale production that was operated by utter idiots who did not know how to do well economics. Fortunately, those folks have all gone bankrupt or run out of money, so the rational people can carry on.
Quick reply to this message
 
Old 11-23-2021, 06:14 PM
509
 
6,288 posts, read 6,932,089 times
Reputation: 9396
Quote:
Originally Posted by mshultz View Post
Peak Oil predictions have a long history:
https://gizmodo.com/weve-been-incorr...-ce-1668986354

I remember attending a college presentation back in the late 1970s where the speaker predicted that we would run out of oil in the early 200s. He was a proponent of fusion energy.
The issue is not peak oil....it is peak political stupidity from the very top.

Reading the Wall Street Journal, many states and University Endownment funds are selling oil stocks and refusing to invest in fossil fuels. The new Mayor of the City of Boston, just made that pledge today.

HALF the Wall Street banks have taken a pledge NOT to lend money to fossil fuel companies.

IF you were an oil company that pretty much takes care of your exploration budget for new supplies. You are not going to have the financial funds to do it.

So if you are going to go out of business with a product that is in very short supply. What would you do??

Sell it quickly at low prices??? Or start limiting your production to get maximum return to your shareholders??

BTW...the shareholders are pretty clear...increase the dividends and quit looking for new oil.

Maybe President Biden and the rest of the Democrats will start looking for oil on their own?? Biden looks like he found a large supply in the Strategic Petroleum Reserve!!! So much for climate change.

Way back in the 1970's under that great environmental President Carter a 2x4 hit $15!!! President Carter became the ONLY PRESIDENT in the history of the United States to issue an executive order for the Forest Service to cut above the sustain yield level.

Nothing has changed, the Democrats always have put their political ambitions before the environment.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top