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The Earth is not running out of oil and gas, BP says

General discussions of the systemic, societal and civilisational effects of depletion.
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Re: The Earth is not running out of oil and gas, BP says

Unread postby kublikhan » Sat 07 Nov 2015, 15:02:30

$this->bbcode_second_pass_quote('pstarr', 'A')ll over the world the cost-basement of production is bumping up against the price-ceiling of consumption.
Then why did oil demand continue to increase everywhere outside the OECD even with oil at $90-$110 a barrel?
The oil barrel is half-full.
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Re: The Earth is not running out of oil and gas, BP says

Unread postby kublikhan » Sat 07 Nov 2015, 15:13:16

Wait, what now? Are you claiming the EIA numbers are BS? Are you saying actual world oil consumption has been falling these past few years?
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Re: The Earth is not running out of oil and gas, BP says

Unread postby Pops » Sat 07 Nov 2015, 15:14:16

$this->bbcode_second_pass_quote('pstarr', 'M')y point is that the demand>supply economic equation is broken.

no it isn't

high price led to higher investment and higher production

in fact free money led to overinvestment and overproduction

call the authorities stupid or deluded till you are blue in the face but the price is what it is

what happens next is open to speculation but the past seems pretty evident
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Re: The Earth is not running out of oil and gas, BP says

Unread postby onlooker » Sat 07 Nov 2015, 15:33:31

As per the chart I linked, oil has been at historically high levels. I do believe this is precisely what has caused this demand destruction which Pstarr refers too. While Pops is right over investment and overproduction occurred given the price levels of around the year 2008 which have inexorably gone down given the mentioned demand destruction. When you refer to the breaking down of the supply-demand equation P, I feel not necessarily as on the downward slope supply and demand will continue to exert an influence upon price.
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Re: The Earth is not running out of oil and gas, BP says

Unread postby kublikhan » Sat 07 Nov 2015, 15:44:21

$this->bbcode_second_pass_quote('onlooker', 'A')s per the chart I linked, oil has been at historically high levels. I do believe this is precisely what has caused this demand destruction which Pstarr refers too.
In the OECD, there has been demand destruction these last few years. However this was not the case worldwide. For every barrel of demand destruction that occurred in the OECD, 2 more barrels were consumed in the non OECD. The net effect has been growing world oil consumption, even with oil around $100 a barrel.
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Re: The Earth is not running out of oil and gas, BP says

Unread postby Pops » Sat 07 Nov 2015, 15:51:34

$this->bbcode_second_pass_quote('pstarr', 'I') am surprised that after all your years here at PO.com Pops, that you don't understand the concept of Demand Destruction


what demand destruction?

Image
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
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Re: The Earth is not running out of oil and gas, BP says

Unread postby Pops » Sat 07 Nov 2015, 16:19:40

$this->bbcode_second_pass_quote('pstarr', 'P')ops, I don't play the oil markets. I have no or little interest in short-term oscillations in supply and demand. It seems you'd rather fall back on capacity or something, as a magical explanation for supply/demand imbalances. But it seems to be a tautology. Over capacity causes prices to go down. But low prices result in over capacity. I don't know pops?


would you point out where I said "low prices result in over capacity" please?
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
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Re: The Earth is not running out of oil and gas, BP says

Unread postby kublikhan » Sat 07 Nov 2015, 16:21:31

$this->bbcode_second_pass_quote('pstarr', 'D')o not confuse EIA supply-demand scenarios with actual oil production figures. The past history of prognostication has been miserable and nothing but back-dated ass covering.
I am not talking about making predictions of the future. I am talking about collecting data on the past. You know, ACTUAL data measured weekly, not prognostication:

$this->bbcode_second_pass_quote('', '[')b]U.S. weekly product supplied - Measures the disappearance of petroleum products from primary sources
PETROLEUM & OTHER LIQUIDS

Are you seriously trying to make a case that global oil consumption has fallen this past decade?
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Re: The Earth is not running out of oil and gas, BP says

Unread postby Pops » Sat 07 Nov 2015, 17:15:55

$this->bbcode_second_pass_quote('Pops', 'w')ould you point out where I said "low prices result in over capacity" please?


lol, you can't because I didn't say it.

it was just something you kinda made up in the little Bengazi hearing in your fevered brain

I was schooling mos on the fact that PO is proceeding apace but because my tone didn't meet your standard of doom, I must be PINO (Peaker In Name Only)

can't figure out why you have such a problem with the fact we haven't all died off yet
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
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Re: The Earth is not running out of oil and gas, BP says

Unread postby Cog » Sat 07 Nov 2015, 18:26:38

All of those liquids are still useful and will be used much to the chagrin of those who desire otherwise.
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Re: The Earth is not running out of oil and gas, BP says

Unread postby Cog » Sat 07 Nov 2015, 18:34:07

Make it quick. I am grilling some steaks tonight and want to catch up on any Trump speeches that I might have missed.
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Re: The Earth is not running out of oil and gas, BP says

Unread postby Cog » Sat 07 Nov 2015, 18:48:35

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('Cog', 'A')ll of those liquids are still useful and will be used much to the chagrin of those who desire otherwise.

You must confuse me with the AGW hysterics. I don't need to promote peak oil. I'm pretty sure it will take care of itself, and AGW. Which actually exists you know, contrary to you and your Golden Hair-Flap guy.


Everything takes care of itself eventually. People die, empires rise and fall, and some day we won't have the oil we need to power a modern society. But that day is not tomorrow or any time soon.
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