PeakOil is You
The U.S., energy producing superpower
Re: The U.S., energy producing superpower
by shortonoil » Tue 13 Jun 2017, 10:33:17
$this->bbcode_second_pass_quote('', 'T')he Petrostate's in the Middle East are shipping out oil and money. A weird situation. How long can they go on ? When they run out of money they will turn into Venezuela.
At their present rate Saudi Arabia will have burned through their $750 billion SWF in about 3 to 4 years. Their depleted out old fields can no longer produce enough oil to cover the Kingdom's cost. Once they can no longer feed their populations they will blow up into a hundred little factions fighting over the scraps. Saudi Arabia is a good example of what the entire world is now facing.
60% of the world's production comes from less than 1% of its fields; they are the old depleted out Giants; many of them are found in the Middle East. They are the glue that holds the entire world's geopolitical fabric together; they supply 6 out of every 10 barrels of the world's economic life blood; oil. Like Saudi Arabia's Giants they will soon no longer be able to produce enough oil to hold together the world's economies, and societies. Like Saudi Arabia the world will blow up into a thousand little factions fighting over the scraps. When oil can no longer power enough of the world's economies to keep a global integrated production system functioning it will dissolve into chaos from its own internal strife. Petroleum's ability to power the world's economy does not have to fall to zero to crash the present system. It only has to fall far enough to tear apart some of the societies that are required to keep it functioning.
Today we see a world in economic and political turmoil. Nations around the globe are dissolving into internal chaos. Economics and politics are tearing apart once stable and productive societies. Depletion of the world's most essential commodity is being felt at every corner of the globe. There is no need for waiting to see the effects of the end of the oil age; they are already here!
http://www.thehillsgroup.org/
There will be many who disagree with such a determination. There will also be many who will in the future be sitting in their caves and grass huts trying to determine why their Iphones no longer work.
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Re: The U.S., energy producing superpower
by asg70 » Tue 13 Jun 2017, 15:18:09
This thread is symptomatic of the discourse here.
I really think we passed a point of no return as far as any sort of true dialogue between perma-doomers and moderates.
It's really nothing but filibustering at this point, where the doomer theses just gets stated again and again and again.
What's the point, really? To be the last man standing on a forum that already only has a dozen or so active posters left?
I really think we passed a point of no return as far as any sort of true dialogue between perma-doomers and moderates.
It's really nothing but filibustering at this point, where the doomer theses just gets stated again and again and again.
What's the point, really? To be the last man standing on a forum that already only has a dozen or so active posters left?
BOLD PREDICTIONS
-Billions are on the verge of starvation as the lockdown continues. (yoshua, 5/20/20)
HALL OF SHAME:
-Short welched on a bet and should be shunned.
-Frequent-flyers should not cry crocodile-tears over climate-change.
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Re: The U.S., energy producing superpower
by Subjectivist » Tue 13 Jun 2017, 15:47:31
$this->bbcode_second_pass_quote('asg70', 'T')his thread is symptomatic of the discourse here.
I really think we passed a point of no return as far as any sort of true dialogue between perma-doomers and moderates.
It's really nothing but filibustering at this point, where the doomer theses just gets stated again and again and again.
What's the point, really? To be the last man standing on a forum that already only has a dozen or so active posters left?
I really think we passed a point of no return as far as any sort of true dialogue between perma-doomers and moderates.
It's really nothing but filibustering at this point, where the doomer theses just gets stated again and again and again.
What's the point, really? To be the last man standing on a forum that already only has a dozen or so active posters left?
More and more it seems like that i true, and of the dozen remainng two are Moderators as well a being somewhat moderate in their view of the next few years.
II Chronicles 7:14 if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land.
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Re: The U.S., energy producing superpower
by Yoshua » Tue 13 Jun 2017, 16:28:41
The US coal production is up about 15% since last years bottom. The rise in production has been explained by the rise in nat gas prices and the decline in nat gas production.
I must admit that I believed US coal to just continue to decline... even though I never been in a coal mine or held a piece of coal in my hand.
The coal production in Europe is in terminal decline though... I can assure you that.
The subject of energy and economy is extremely complex. It is an interesting subject to discuss... in any form. The end of modern humans 200,000 years of energy evolution since we learned to use fire is the biggest event ever... and we are the ones who will experience it.
I must admit that I believed US coal to just continue to decline... even though I never been in a coal mine or held a piece of coal in my hand.
The coal production in Europe is in terminal decline though... I can assure you that.
The subject of energy and economy is extremely complex. It is an interesting subject to discuss... in any form. The end of modern humans 200,000 years of energy evolution since we learned to use fire is the biggest event ever... and we are the ones who will experience it.
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Re: The U.S., energy producing superpower
by Observerbrb » Tue 13 Jun 2017, 17:19:48
Oil prices are falling on heavy volume after another unexpected build in crude inventories - This is clearly not normal at this time of the year.
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Re: The U.S., energy producing superpower
by marmico » Tue 13 Jun 2017, 17:31:59
BP Statistical Review of World Energy June 2017 Edition is out.
http://www.bp.com/content/dam/bp/en/cor ... report.pdf
World proved reserves increased from 1692 billion to 1707 billion barrels with the US flat at 48 billion barrels (page 12 of the report).
http://www.bp.com/content/dam/bp/en/cor ... report.pdf
World proved reserves increased from 1692 billion to 1707 billion barrels with the US flat at 48 billion barrels (page 12 of the report).
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Re: The U.S., energy producing superpower
by shortonoil » Tue 13 Jun 2017, 17:43:56
$this->bbcode_second_pass_quote('', '2')) The extraction of oil reserves peaked in 2014. Oil production has not yet
peaked because of the willingness of the financial sector to finance the
drilling of oil wells that will not pay out.
peaked because of the willingness of the financial sector to finance the
drilling of oil wells that will not pay out.
This is very much in line with a non growth economy, and central bank printing. Currency is being created that has no place to be invested where it can generate a return. In this case shale is not a singularity. It is also occurring with the FANGS, Chinese housing, auto production, and other commodities to name just a few. As long as a forcing function is being applied to an economy limited by its declining available energy mis-allocation of resources will be assured. Pouring money into non reimbursing structures that must also be maintained afterward is the epitome of digging the hole you are in ever deeper. "IF" there is a pathway out of our present dilemma it is certainly not in the direction that we are going! Until economists discover that energy falls into the same category as capital and labor they will continue to push on the provable string. Bridges to nowhere, ghost cities and costly wars will be continually pursued to the determinant of an economy that can no longer afford them.
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Re: The U.S., energy producing superpower
by Yoshua » Tue 13 Jun 2017, 17:44:52
Fascinating and frightening at the same time. I guess I just can't find my Zen.
The human era has created some fascinating things and some horrifying.
The human era has created some fascinating things and some horrifying.
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Re: The U.S., energy producing superpower
by AdamB » Tue 13 Jun 2017, 18:49:40
$this->bbcode_second_pass_quote('Observerbrb', 'O')il prices are falling on heavy volume after another unexpected build in crude inventories - This is clearly not normal at this time of the year.
Neither was the glut and abundance revealed 2 years ago. But part and parcel of the previous structural changes in what powers our personal transport is the idea that people aren't all going to rush back to by 8 mpg gas guzzlers. I'm quite happy with using the wife's gas/electric hybrid, 45 mpg on the highway, and in town uses no gasoline at all, for months at a time. And like I said, she isn't rushing out to buy some gas guzzler like pstarr uses, regardless of how low prices go. Free fuel from work will do that for some folks.
Plant Thu 27 Jul 2023 "Personally I think the IEA is exactly right when they predict peak oil in the 2020s, especially because it matches my own predictions."
Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
Plant Wed 11 Apr 2007 "I think Deffeyes might have nailed it, and we are just past the overall peak in oil production. (Thanksgiving 2005)"
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