by rockdoc123 » Tue 19 Jul 2016, 00:02:29
$this->bbcode_second_pass_quote('', 'Y')ou know rockdoc, I learned a lot from you and RM. It impressed me that oil professionals would share their experience, knowledge and wisdom with us newbies. I even remember when you said (years ago) that in your learned opinion oil would peak in 2015. In spite of my skepticism and impatience (I was sure that 2005 would hold) I kept my mouth shut and never insulted you. Never to this day. Fuck that, huh? Times change lol
You are just an old man, an industry burnout and I am done. Ignore. See ya.
Interesting....the minute you are asked to verify your statements with actual data you resort to name calling. It was quite simple if you believe demand never picked up after 2005 then please explain why each and every chart you look at with supply and demand shows a relatively steady increase from 2005 to recent with a bit of a dip during the 2008 2009 recession. I can post a number of charts from IEA, BP and a number of banks/brokers that all show the same thing and you can look at product demand which will also show the same thing ( with the exception of a very recent decrease in diesel demand) so I find it incredulous that you make these statements but can't support them. Easy enough you just ignore anyone who puts you in a corner and forces you to reassess your paradigm. A bit like a small child covering his ears and repeating....nah, nah, nah, I can't hear you. Obviously makes you feel better but not very convincing from an argument standpoint.
As to my prediction on peak it was based on the best data available (Wood Mackenzie) and it included light, super light, heavy and all other grades of crude. Why would you split out the grades when they are all largely fungible for a variety of uses? Companies put oil of all sorts of grades into pipelines and what comes out at the end is a blend. The only reason to separate out heavy and condensates would be if you were interested in looking at the cost to upgrade or stabilize. When I made that prediction there was almost no data available on shales, hence it was not included. But I have said countless times on this site that my belief is we are on the long undulating portion of the peak curve due to economic reasons balancing out potential supply.
Believing in Peak Oil does not give you the privilege to just make data up, I'm afraid.
As to me being "just an old man, an industry burnout" all I can say is my age afforded me nearly 40 years of active exposure to all sorts of roles in the oil and gas industry from junior geologist through to senior executive and Board member. That gives me a bit of knowledge and perspective that I doubt you have so it's surprising you would attempt to denigrate me for it on a site that is after all dealing with energy production and all it's nuances. As to being burned out, hardly, if I was I still wouldn't be staying up to date with what was going on around the world in the industry.