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.
Short of a concerted space alien attack Permian Basin producers will deliver record shipments in Dec. '21 (just shy of 5 million barrels per day) with decreasing costs in many cases.
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.
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.
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.
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.
i think we need another peak oil thread, we dont have enough on it posted here
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.
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 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.
