Peak Oil is You

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Page added on November 23, 2018

Oil prices hit a 2018 low

Global oil supply has surged this year, with the top-three producers — the United States, Russia and Saudi Arabia — pumping more than a third of global consumption.

Saudi Arabia is pushing OPEC to cut oil supply by as much as 1.4 million bpd to prevent a supply glut.
Shanghai stocks fell the most in five weeks on Friday, by 2.5 percent, amid worries over China’s economic growth and the U.S.-Sino trade war.

Oil prices fell to their lowest in a year on Friday, on course for their biggest one-month decline since late 2014, even as oil producers consider cutting production to try to stem a rising global surplus.

Oil supply, led by the United States, is growing more quickly than demand and to ward off a build-up of unused fuel such as the one that emerged in 2015, the Organization of the Petroleum Exporting Countries is expected to start withholding output after a meeting planned for Dec. 6.

But this has done little so far to prop up the price. The value of a barrel of oil has dropped by around 20 percent so far in November, in a seven-week streak of losses.

Seema Shah talks oil, equities, and more 12 Hours Ago | 04:20

Benchmark Brent crude oil futures fell $2.31 a barrel, or 3.7 percent, to a low of $60.29, its lowest since November 2017. By 1050 GMT, Brent was trading around $60.75, down $1.85.

U.S. West Texas Intermediate (WTI) crude futures lost $2.90, or 5.3 percent, at one point to touch a low of $51.73 a barrel.

“The question is now how much longer bears are able to keep firing. Are they going to run out of ammunition shortly or they have ample supply of bullets?” PVM Oil Associates strategist Tamas Varga said.

“It is reasonable to compare the current economic and supply/demand picture with the one four years ago. After all, it was in November and December 2014 when oil prices fell more or less to the same level where they are now,” he said.

Volatility has spiked to its highest since late 2016, as investors have rushed to buy protection against further steep price declines.

Volatility, a measure of investor demand for a particular option, has jumped above 60 percent for very bearish near-term sell options, double what it was two weeks ago.

Global oil supply has surged this year. The International Energy Agency expects non-OPEC output alone to rise by 2.3 million bpd this year, up from its forecast six months ago of 1.8 million bpd..

Demand next year meanwhile is expected to grow at a rate of 1.3 million bpd, compared with a forecast of 1.5 million bpd six months ago.

Adjusting to lower demand, top crude exporter Saudi Arabia said on Thursday that it may reduce supply as it pushes OPEC to agree to a joint output cut of 1.4 million bpd.

CNBC

104 Comments on "Oil prices hit a 2018 low"

Cloggie on Sat, 24th Nov 2018 3:43 am

The world economy is still growing so this price decline can’t be explained from a non-existing recession. It’s simply “oversupply”.

Global economic growth currently at 3%:

https://data.worldbank.org/indicator/ny.gdp.mktp.kd.zg

Oil companies would be mad if they would invest now in new reserves, they don’t. In a couple of years oil prices will be significantly higher and only then it will pay to look for new reserves.

Oil price now at $60, could be $150 by 2023. It’s anybody’s guess.

I AM THE MOB on Sat, 24th Nov 2018 4:03 am

Clogg

The world has been thoroughly explored already..The oil companies know this and that is why they aren’t investing..You are grasping at straws..Time to wake up you deluded old senile mummy..

Peak Oil & Drastic Oil Shortages Imminent, Says IEA
https://cleantechnica.com/2018/11/22/peak-oil-drastic-oil-shortages-imminent-says-iea/

Davy on Sat, 24th Nov 2018 5:11 am

“The world economy is still growing so this price decline can’t be explained from a non-existing recession. It’s simply “oversupply”.”
There is no either or about this neder. It is demand destruction and oversupply. They walk together hand and hand these days. The global economy is stalling and choking on debt and trade tensions. The emerging markets are stumbling on dollar issues related to rate increases. Euroland has debt issues with Italy. China is in a broad-based slowdown and this is taking the global economy down with it. The US is stalling now that Trump’s tax cut is running its course. The US will feel its trade war into next year. All markets are in decline. If you don’t want to call that the prelude to recession then you are economically blind.

“Global economic growth currently at 3%:”
Sure it is neder, we won’t know the true number except in the review mirror. Too much is going on now.

JuanP on Sat, 24th Nov 2018 9:59 am

“Does the US really need Saudi oil?”
https://www.rt.com/business/444775-does-us-need-saudi-oil/

Worth reading for ideas to consider.

JuanP on Sat, 24th Nov 2018 10:13 am

“Russia isn’t interested in joining OPEC+ oil production cuts.”
https://www.rt.com/business/444249-russia-opec-oil-cuts/

Russia reached an all time record high 11.41 mbd oil production level in October. I keep waiting for Russian production to peak to no avail! I have been wrong about this since 2015. I will keep an open mind from now on.

So, Russia, the USA, and SA account for one third of global oil production, and essentially all current growth. Interesting.

Cloggie on Sat, 24th Nov 2018 10:36 am

I keep waiting for Russian production to peak to no avail! I have been wrong about this since 2015. I will keep an open mind from now on.

Have a look at the BBC maps in this post:

https://deepresource.wordpress.com/2018/11/24/japan-could-mine-methane-hydrates-as-of-2030/

Peak oil is mega out. There is way too much fossil fuel. There is enough to “fry us all”:

https://www.theguardian.com/commentisfree/2012/jul/02/peak-oil-we-we-wrong

We are not running out of fossil fuel, not in thousands of years, unfortunately. But Trump doesn’t give a f* and the French (and American) population don’t give a f* either.

Easy oil and gas maybe running out, but new technology makes endless reserves of dregs accessible, that weren’t previously.

Heinberg was right: the low-hanging fruit has been picked.

So what is a poor fruit farmer to do? Easy, take a ladder and pick the high-hanging fruit. The ladder, that’s technology.

https://images-na.ssl-images-amazon.com/images/I/51EIMA4–4L._SX331_BO1,204,203,200_.jpg

Industrial society is fine, it’s the climate, stupid!

I AM THE MOB on Sat, 24th Nov 2018 10:51 am

Clogg

IEA: Russia’s oil output to reach its peak in 2020
http://vestnikkavkaza.net/news/IEA-Russia%E2%80%99s-oil-output-to-reach-its-peak-in-2020.html

Oil discoveries in 2017 hit all-time low –Houston Chronicle
https://www.chron.com/business/energy/article/Oil-discoveries-in-2017-hit-all-time-low-12447212.php

Saudi Arabia’s Energy Minister Warns of World Oil Shortages Ahead
https://www.wsj.com/articles/saudi-minister-sees-end-of-oil-price-slump-1476870790

Peak Oil & Drastic Oil Shortages Imminent, Says IEA
https://cleantechnica.com/2018/11/22/peak-oil-drastic-oil-shortages-imminent-says-iea/

IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows
https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000

There will be an oil shortage in the 2020’s, Goldman Sachs says
https://www.cnbc.com/2018/11/09/goldman-sachs-there-will-be-an-oil-shortage-in-the-2020s.html

Growing demand for oil will lead to shortage and high prices in 2020s
https://www.newscientist.com/article/2185046-growing-demand-for-oil-will-lead-to-shortage-and-high-prices-in-2020s/

Projection of World Fossil Fuels by Country (Mohr, 2015)
https://www.scribd.com/document/375110317/Projection-of-World-Fossil-Fuels-by-Country-Mohr-2015

German Military (leaked) Peak Oil study: oil is used in the production of 95% of all industrial goods, so a shortage of oil would collapse the world economy & world governments
https://www.scribd.com/document/387459134/german

Imminent peak oil could burst US, global economic bubble – study
https://www.theguardian.com/environment/earth-insight/2013/nov/19/peak-oil-economicgrowth

I AM THE MOB on Sat, 24th Nov 2018 10:52 am

Clogg

As M. King Hubbert (1956) shows, peak oil is about discovering less oil, and eventually producing less oil due to lack of discovery.

Oil discoveries in 2017 hit all-time low –Houston Chronicle
https://www.chron.com/business/energy/article/Oil-discoveries-in-2017-hit-all-time-low-12447212.php

IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows
https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000

Saudi Arabia’s Energy Minister Warns of World Oil Shortages Ahead
https://www.wsj.com/articles/saudi-minister-sees-end-of-oil-price-slump-1476870790

Saudi Aramco chief warns of looming oil shortage
https://www.ft.com/content/ed1e8102-212f-11e7-b7d3-163f5a7f229c

A Regional Oil Extraction and Consumption Model. (Dittmar 2017)
https://arxiv.org/pdf/1708.03150.pdf

HSBC Global Bank: 81% of world liquids production already in decline and world oil shortages ahead
https://www.scribd.com/document/367688629/HSBC-Peak-Oil-Report-2017

Projection of World Fossil Fuels by Country (Mohr, 2015)
https://www.scribd.com/document/375110317/Projection-of-World-Fossil-Fuels-by-Country-Mohr-2015

There will be an oil shortage in the 2020’s, Goldman Sachs says
https://www.cnbc.com/2018/11/09/goldman-sachs-there-will-be-an-oil-shortage-in-the-2020s.html

Peak Oil & Drastic Oil Shortages Imminent, Says IEA
https://cleantechnica.com/2018/11/22/peak-oil-drastic-oil-shortages-imminent-says-iea/

I AM THE MOB on Sat, 24th Nov 2018 10:54 am

IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows
https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000

There will be an oil shortage in the 2020’s, Goldman Sachs says
https://www.cnbc.com/2018/11/09/goldman-sachs-there-will-be-an-oil-shortage-in-the-2020s.html

Growing demand for oil will lead to shortage and high prices in 2020s
https://www.newscientist.com/article/2185046-growing-demand-for-oil-will-lead-to-shortage-and-high-prices-in-2020s/

Imminent peak oil could burst US, global economic bubble – study
https://www.theguardian.com/environment/earth-insight/2013/nov/19/peak-oil-economicgrowth

I emailed Professor Douglas B Reynolds PhD, Oil and Energy Economics, University of Alaska.
http://uaf.edu/files/som/REYNOLDS-Doug-2016-CV.pdf

And I asked him if our upcoming oil shortage will cause a global economic collapse?
https://imgur.com/a/rBtIrfg

He replied;

“Yes, it will be like that, but may be worse with other extenuating circumstances such as war or the decline of international trade. Hyperinflation as happened in the Soviet and Post Soviet economy is a certainty.”
https://imgur.com/a/rktmHdt

Simple really….when the World Economy Collapses everything shuts down…the end… We’re talking about grids down all over the world and 7.5B people dropping like f*** flies in short order. The collapse will be absolutely horrible..There is no collapse or horror movie ever produced that has even come close to imagining what the collapse of BAU might look like. I’m talking about every corporation and every social program going bankrupt at once. I’m talking about people eating people. I’m talking about the Worst Catastrophe to ever happen in the history of mankind. Nothing has ever, or will ever come close…(Meadows, 1972) (Motesharrei, 2014) (Turchin, 2010) (Ehrlich, 2013) (Turner, 2014) (Korowicz, 2012)

GetAVasecomtyAndLetTheHumanSpecieDie on Sat, 24th Nov 2018 10:56 am

I watch a couple of news outlet in French language. One guy said that the cost of living in France has increased a lot and the government had to cut some social services. It look like France is either in some kind of inflation phase or stagflation phase.

https://www.youtube.com/watch?v=7scIP6KqBx0

https://www.youtube.com/watch?v=tdJZm2ewf8E

I AM THE MOB on Sat, 24th Nov 2018 11:03 am

US Pushes for Dangerous Military Activity Near Russian Border – Lavrov

https://sputniknews.com/world/201811241070089205-us-russia-border/

Moving in for the kill and nuclear first strike!

The wood has dried and all we need is a false flag to light the match!

Bye bye Putin..Thanks for the oil and gas! Say hello to Saddam for us in hell!

LMFAO!

Cloggie on Sat, 24th Nov 2018 11:18 am

France is an ideal country for the little guys. Minimum wage:

(converted in euro)
France……9.76
Holland…..9.52
Belgium…..9.28
Germany…..8.84
UK……….8.79
Canada……7.64
USA………6.84
China…….1.78
Russia……0.62

And the reason why France is good for little guys is because in France little guys have a very big mouth. France is one of the most protest-prone dountries in the world.

Remember the guilliotine?

Davy on Sat, 24th Nov 2018 12:19 pm

“Peak oil is mega out. There is way too much fossil fuel. There is enough to “fry us all”:”
Nonsense, a familiar song and dance from the neder. Peak oil dynamics are alive and well. Depletion does not stop. Economics are critical to production of increasingly expensive oil resources. Economics is looking worse all the time. New oil finds are at an all-time low. Where is the ”mega out”?

“We are not running out of fossil fuel, not in thousands of years, unfortunately.
No, we are not running out of fossil fuel resources. That is a no-brainer.

“French (and American) population don’t give a f* either.”
Wow, the Gaullist neder is turning on his people. LOL. I am an American and I care but you like to generalize so I understand it is all or nothing in the world according to neder.

“Industrial society is fine, it’s the climate, stupid!”
Indistrial society is not fine not is the climate, stupid

Davy on Sat, 24th Nov 2018 12:22 pm

“Minimum wage: (converted in euro)”

neder, where is your reference with link? Your figures are not trustworthy.

Davy on Sat, 24th Nov 2018 12:32 pm

“Economic Turmoil Could Send Oil Even Lower”
https://tinyurl.com/ya6y2w8w

“All of this is negative for oil demand, which has already been repeatedly revised down this year. The IEA sees demand growing by 1.3 million barrels per day (mb/d) in 2018 and 1.4 mb/d in 2019. Earlier this year, the agency thought demand would grow by 1.5 mb/d in 2018. “The outlook for the global economy has deteriorated since the last report,” the IEA said this month. The flip side is that lower oil prices will mitigate demand destruction. “While slower economic growth in some countries reduces the outlook for oil demand, a significant downward revision to our price assumption is supportive.”

Cloggie on Sat, 24th Nov 2018 12:39 pm

Peak oil dynamics are alive and well.

Could you explain to us mere mortals wth you mean to say with “peak oil dynamics”.

Depletion does not stop.

Neither does your BS, but that is unfortunately no guarantee that it is going to stop any time soon.

Economics are critical to production of increasingly expensive oil resources. Economics is looking worse all the time.

“Economics?” You probably mean “price”, but you want to sound academic. Actually price is NOT “looking worse” all the time. Prices have come down from ca. $150 in 2008 until $60 today, hand in hand with the transition from conventional oil to fracking.

New oil finds are at an all-time low.

Because the oil-industry stopped investing because of low prices. It makes perfectly sense to wait for higher prices, before exploring again.

Where is the ”mega out”?

Here it is:

https://deepresource.wordpress.com/?s=death+peak+oil#jp-carousel-68363

(Google trends “peak oil”. Nobody gives a f* and for good reason).

Let me explain it to you once again, this time slowly… Humanity so far burned ca. 1 trillion barrel of oil. Conventional wisdom says that total conventional reserves are ca. 2 trillion barrel of oil.

But this is a different age now, the Third Carbon Age to be precise. All of sudden we are talking about extra reserves of 4 trillion barrel EXTRA, not to mention up to 31 trillion TON of coal under the North Sea. Depletion is in 2018 not an issue and it won’t be in 2118 either.

But I know very well how you tick. You are too much in love with your collapse lifestyle to give up on it. You have told your Italian misses that the world is about to collapse and that you are busy prepping, so that at least you both are going to survive. And the poor thang is believing your BS, a major mistake. For Christ sake, she is Yuropean! She deserves to roam the streets of Milan, armed with your credit card, rather than being stuck in some Ozark backwater, waiting for a collapse that never will happen (if we ignore CW2 for a moment).

You should be ashamed of yourself!

I AM THE MOB on Sat, 24th Nov 2018 12:46 pm

Clogg

The easy oil is gone

Oil discoveries peaked in the 1960’s.

Every year since 1984 oil consumption has exceeded oil discovery.

In 2017 oil discoveries were about 7 billion barrels; consumption was about 37 billion barrels

Of the world’s 20 largest oil fields, 18 were discovered 1917-1968; 2 in the 1970’s; 0 since.

https://imgur.com/a/6dEDt
https://www.chron.com/business/energy/article/Oil-discoveries-in-2017-hit-all-time-low-12447212.php

I AM THE MOB on Sat, 24th Nov 2018 12:50 pm

Clogg

Oil production has exceeded oil discovery for over 34 years straight..So this problem didn’t just start a few years ago when the oil price dropped..

You are such a coward..That is why you deny peak oil and that is why you wont get your WW2 lunatic conspiracy theories verified..

I AM THE MOB on Sat, 24th Nov 2018 12:54 pm

Have a look at your destiny Clogg

https://imgur.com/a/4WR4UqK

The French are a bunch of pussies who let Hitler walk right over them..

Clogg you seen those pictures of Macron with those shirtless Africans?

LMFAO!

The US will be the last man standing..We have been preparing for peak oil for forty years..

Wild Bourg Man on Sat, 24th Nov 2018 1:11 pm

The price of oil could certainly go lower once additional pipeline capacity out of the Permian basin is complete.

For the argument of Peak Oil why would anyone who predicted World Peak oil years ago take unprofitable oil plays in to account? Sure if you put every possible source of oil into the equation with no regard of profitability, then yes Peak oil is many years out. I don’t think that is a prudent way to do things.

I AM THE MOB on Sat, 24th Nov 2018 1:14 pm

Syria about to be attack again by US and Nato

https://www.debka.com/a-french-spy-ship-reserved-for-trouble-spots-joins-uss-truman-in-syrian-waters/

And Pooty won’t do a damn thing..HAHAH!

Cloggie on Sat, 24th Nov 2018 1:36 pm

Syria about to be attack again by US and Nato
https://www.debka.com/a-french-spy-ship-reserved-for-trouble-spots-joins-uss-truman-in-syrian-waters/
And Pooty won’t do a damn thing..HAHAH!

Pushing your kosher buddies again, eh?

https://en.wikipedia.org/wiki/Debkafile

“The site started in the summer of 2000, and is operated from the Jerusalem home of journalists Giora Shamis and Diane Shalem… the site is unabashedly in the hawkish camp of Israeli politics… reporter Ronen Bergman states that the site relies on information from sources with an agenda, such as neo-conservative elements of the US Republican Party, “whose worldview is that the situation is bad and is only going to get worse,” and that Israeli intelligence officials do not consider even 10 percent of the site’s content to be reliable.”

Satanic mobster trying to incite war again.

https://goo.gl/images/yyy8J9

I AM THE MOB on Sat, 24th Nov 2018 1:50 pm

Clogg

Mel Gibson said it so it must be true..Why would a religious nutter lie?

You have no proof so you have to post quotes from nutcases..

You are sad and pathetic old mummy..

LMFAO!

I AM THE MOB on Sat, 24th Nov 2018 1:52 pm

Clogg

This is Putin’s fate..

Gaddafi sodomized: Video shows abuse frame by frame (GRAPHIC)
https://www.dailymotion.com/video/xlxdrd

LMFAO!

Davy on Sat, 24th Nov 2018 2:03 pm

“peak oil dynamics”.
Geeze, use your head….It is all the various peak oil related issues both systematic and volumetric. You take these and measure them together along with other dynamics.

“Depletion does not stop. Neither does your BS, but that is unfortunately no guarantee that it is going to stop any time soon.”
Translation: That is so clear why didn’t I think of it….OH, I didn’t because it would screw with my fantasy point of view. In my neder world reality is negotiable.

“Economics?” You probably mean “price”, but you want to sound academic.”
Nope, I would say price if I met price. I am talking about the whole global economy as well as all aspects of it.

“New oil finds are at an all-time low.” “Because the oil-industry stopped investing because of low prices. It makes perfectly sense to wait for higher prices, before exploring again.”
Come on neder, it is more complicated than price. It is also the expense of investing and the return associated with that investing. Price is part of the problem but difficult to get to oil is another. The price consumers and producers can live with is a very narrow band and getting worse.

“Where is the ”mega out”?” Here it is: (Google trends “peak oil”. Nobody gives a f* and for good reason).”
LOL, neder trusts sheeple trends for his science. Neder, this is a process and it is not going the right way not by a long shot. Converging trends are going to catapult oil issues back into the lime light in the not too distant future. It is still unclear what will result but your neder-techno happy ending is very unlikely.

Cloggie on Sat, 24th Nov 2018 2:14 pm

Mel Gibson said it so it must be true..Why would a religious nutter lie?
You have no proof so you have to post quotes from nutcases..

We have good old Chamberlain, making similar noises:

https://documents1940.wordpress.com/2017/09/25/chamberlain-and-the-forrestal-diaries/

He confided this to Joseph Kennedy, who informed James Forrestal, the US defense secretary.

Joseph got his son JFK murdered by the Israelis for attempting to abolish the Fed and Forrestal “committed suicide” by stepping out a hospital window at the 16th floor (or more likely was thrown out).

https://youtu.be/gWV9vsOuMI8

Chrome Mags on Sat, 24th Nov 2018 2:22 pm

“2.5 percent, amid worries over China’s economic growth and the U.S.-Sino trade war.”

Stocks and oil futures tend to move AHEAD of events like the anticipated Jan. 1st US sanctions on 250 billion in Chinese exports to US. Big investments like that don’t wait for the day an event begins, they anticipate that event in case it comes to fruition (no deal is made beforehand).

I personally don’t think there’s any other reason for stocks to go down. I even doubt oil going down has anything to do with supply. It’s just anticipation of that sanctions event.

Keep in mind if the sanctions do go into effect Jan. 1st, not long after are going to be very big price increases leading to inflation, then the Fed jacks up interest rates, businesses reduce loans taken out and lay lots of people off, which quickly leads to a recession.

What looks like a recession coming is actually just a reaction to impending sanctions on a massive scale. If a deal was made tomorrow between China and Trump, stocks and oil would start going up.

Anonymous on Sat, 24th Nov 2018 2:26 pm

The US has added 2+ million bopd in last year. This is probably why prices dropped. Too much supply, not enough buyers. Price drops to motivate more buyers to buy and less sellers to sell. Supply and demand.

Instead of looking at the drop from 70 to 50 as abnormal, consider that we maybe never should have gone up to 70. Took a lot to make that run to 70 happen (OPEC/Russia actions, Iran sanctions, Vz decline). But throwing high prices out to the frackers is like throwing…umm…have to say it…gasoline on a fire.

I AM THE MOB on Sat, 24th Nov 2018 2:40 pm

Clogg

You really need to find a girlfriend badly..

Losers are more likely to believe in conspiracy theories, study finds

https://www.psypost.org/2017/09/losers-likely-believe-conspiracy-theories-study-finds-49694

I AM THE MOB on Sat, 24th Nov 2018 2:44 pm

I just got the new book “Oil, Power, and War, A dark history”..Its 550 pages..Its the mother of all peak oil references..

Anonymous on Sat, 24th Nov 2018 2:44 pm

US approaching zero net imports of crude and products:

https://pbs.twimg.com/media/DsxeYWfX4AA2w7F.jpg:large

Cloggie on Sat, 24th Nov 2018 2:57 pm

“I just got the new book “Oil, Power, and War, A dark history”..Its 550 pages..Its the mother of all peak oil references..”

You urgently need new glasses. Via this link you can see the index. It is all about history of oil, zero references to peak oil.

https://www.amazon.com/Oil-Power-War-Dark-History/dp/1603587438/ref=sr_1_1

Compulsory lying is your true character.

I AM THE MOB on Sat, 24th Nov 2018 3:09 pm

Clogg

Richard Heinberg wrote the foreword in the book..And it has dozens of peak oil charts in it..I have the book next to me..

“The liar’s punishment is that he cannot believe anyone else.”

– George Bernard Shaw

I AM THE MOB on Sat, 24th Nov 2018 3:11 pm

CLogg

I can take pictures with my phone and upload them to show you the peak oil charts from the book..Just ask..

Oh and it has oil peaking around 2020..Just like the IEA..

Anonymous on Sat, 24th Nov 2018 3:15 pm

Self published. Not even any Amazon reviews. Likely dated as well (French version is from 2015.) And attaboys at the begining from Laherre, Heinberg, etc. The ASPO crew.

Better off to read The Prize. That was a bestseller, won a Pulitzer, and was written by a serious historian.

I AM THE MOB on Sat, 24th Nov 2018 3:32 pm

Anonymous

Oil discoveries in 2017 hit all-time low –Houston Chronicle
https://www.chron.com/business/energy/article/Oil-discoveries-in-2017-hit-all-time-low-12447212.php

IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows
https://www.wsj.com/articles/iea-says-global-oil-discoveries-at-record-low-in-2016-1493244000

There will be an oil shortage in the 2020’s, Goldman Sachs says
https://www.cnbc.com/2018/11/09/goldman-sachs-there-will-be-an-oil-shortage-in-the-2020s.html

Saudi Arabia’s Energy Minister Warns of World Oil Shortages Ahead
https://www.wsj.com/articles/saudi-minister-sees-end-of-oil-price-slump-1476870790

Saudi Aramco chief warns of looming oil shortage
https://www.ft.com/content/ed1e8102-212f-11e7-b7d3-163f5a7f229c

Growing demand for oil will lead to shortage and high prices in 2020s
https://www.newscientist.com/article/2185046-growing-demand-for-oil-will-lead-to-shortage-and-high-prices-in-2020s/

A global energy assessment (Jefferson 2015)
https://onlinelibrary.wiley.com/doi/pdf/10.1002/wene.179

Imminent peak oil could burst US, global economic bubble – study
https://www.theguardian.com/environment/earth-insight/2013/nov/19/peak-oil-economicgrowth

I AM THE MOB on Sat, 24th Nov 2018 3:47 pm

A global energy assessment (Jefferson 2015)

The World in the 21st Century is faced with huge challenges that go far beyond, but importantly include, energy challenges on the supply, access, and use sides. So severe are these challenges, mainly arising from the demands of a rapidly increasing human population on the Earth’s limited resources, that the future existence of large numbers of people may be threatened with
extinction. In that sense, we may be observing the twilight of the Anthropocene (Human) Age.

https://www.scribd.com/document/394043449/A-Global-Energy-Assessment-Jefferson-2015

Duncan Idaho on Sat, 24th Nov 2018 4:01 pm

In that sense, we may be observing the twilight of the Anthropocene (Human) Age.

Bingo!
We have a winner——-

I AM THE MOB on Sat, 24th Nov 2018 4:06 pm

Duncan

That study was authored by the former chief economist at Royal Dutch Shell..By no means some doomster..

Duncan Idaho on Sat, 24th Nov 2018 4:06 pm

The Prize is worth the read, but really dated.

It is a reference on how far we have fallen, once one disregards the assumptions.

One does get a historical view.

Duncan Idaho on Sat, 24th Nov 2018 4:10 pm

That study was authored by the former chief economist at Royal Dutch Shell..By no means some doomster..

The Euro Oil Corps often confront reality with a open mind.

I’m with you on future oil declines- possibly next year.

I AM THE MOB on Sat, 24th Nov 2018 4:39 pm

The prize is written by a peak oil denier..That is why it won awards..It told the sheeple what they wanted to hear..Case dismissed..

I AM THE MOB on Sat, 24th Nov 2018 4:45 pm

Here are some of the reviews for the book “Oil, Power and War. A dark history”

“Beautifully written and translated, Oil, Power, and War provides a detailed history of oil’s impact on economic and technical advances. It offers a profound new understanding of oil’s role in war and peace, growth and stagnation, and casts new light on the foundation of national power and the challenges that lie ahead. A terrific education and engrossing read.”

-Dennis Meadows, author of limits to growth

“This richly documented and beaufully written book tells a story that has not been fully told- until now. In years to come, historians will refer back to Auzanneau’s wrok as a definitive guide to the real role of oil in some of the most pivotal events in world history”

-Nafeez Ahmed

I AM THE MOB on Sat, 24th Nov 2018 5:11 pm

breaking: Chemical Weapons attack in Syria

https://twitter.com/SANAEnOfficial/status/1066415159445463041

According to the SANA news agency, terrorists shelled the al-Khalidiye neighborhood with at least 50 people having been delivered to hospitals after the incident. The victims suffered from suffocation that was allegedly caused by chlorine gas.

I AM THE MOB on Sat, 24th Nov 2018 5:21 pm

Europe is falling!

French police fire tear gas at fuel price protesters

http://news.trust.org/item/20181124101720-ghrrs

Anonymouse on Sat, 24th Nov 2018 5:30 pm

What do believe your endless spamming here is accomplishing exceptionalturd? Is it because hardly anyone pays attention to you when you post as Davy dumbass? Trying to compensate by spamming with the sock? No one follows your links, or your stupid posts, dumbass.

You have little to say no matter what dysfunctional ‘personality’ you post as. Everyone else here( besides cloggenYID of course) knows how to be economical with their comments, and, they can say what they want to say without the volume you seem to feel is so important…

Davy on Sat, 24th Nov 2018 5:42 pm

not worth my time

makati1 on Sat, 24th Nov 2018 6:13 pm

Anyone who believes the bullshit coming out of the oily articles posted and the so called “statistics” will believe anything. Don’t you all realize that it is all propaganda to keep the investors in the game? The smart ones are bailing and prepping for the coming events.

The oily business has become political because everyone in power realizes the end is near. Take away all of the subsidies and cheap money and the fraking scam would fold overnight. Ditto for many of the “oil majors”.

I don’t waste my time reading the latest guess at the future of oil. It is obvious. It is ending and has no future. Nor do humans as we have built our world on an exhaustible resource. And, no, renewables will not save it, not even a part of it.

JuanP on Sat, 24th Nov 2018 6:41 pm

Cloggie, I believe that Peak Oil will happen and I also believe that we have enough fossil fuels and combustible materials to burn and make the planet essentially uninhabitable for our species, and we will burn as much as we can. I also believe that renewable energy sources will keep growing. I see no inherent contradiction or conflict in holding all these beliefs simultaneously.

makati1 on Sat, 24th Nov 2018 7:07 pm

I agree, JuanP. They are all compatible. My only thought is that when FFs fade, so will renewables that require FF energy to exist. That being most of them outside of muscle power and the methods using water wheels and wind mills of old. Not electric producing, just grinding flour and moving water to the surface.

Oil prices hit a 2018 low

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