[AdamB]

$this->bbcode_second_pass_quote('pstarr', 'C')og and Adam share a handle? No idea, good buddy lol

[Midnight Oil]

The Oil Lobby needs their Cheerleaders on these sites to contain the obvious and keep the institutional funds flowing to maintain output. Whatever it takes!
Ben Bernanke said we would thank him (them) later.
Indeed I will, when the SHTF if I see him and Janet by a oil barrel fire, I'll offer a piece of roasted Rat meat. Appropriate, don't you agree?

[Cog]

Nothing because the government shutdown issue was solved a week ago. Put down the bong dude. Going stoned through life is no way to live.

[copious.abundance]

We're long overdue for an update!

Here is a pretty chart showing world crude & condensate production, updated through July. Notice how it just keeps going up - steady as she goes! Back in November last year we had ANOTHER new record of over 82 million bpd!

I made the chart zero-based, and everything!


SOURCE

Happy peak oiling!

[AdamB]

$this->bbcode_second_pass_quote('copious.abundance', 'W')e're long overdue for an update!

Here is a pretty chart showing world crude & condensate production, updated through July. Notice how it just keeps going up - steady as she goes! Back in November last year we had ANOTHER new record of over 82 million bpd!

I made the chart zero-based, and everything!


SOURCE

Happy peak oiling!

[Outcast_Searcher]

Until the data shows differently, the overall trend for oil is really very simple.

Global demand and supply for crude oil is increasing. As it normally does, every year aside from deep recessions, for quite a while now. Period.

In the big picture, all the hand waving, conjecture, predictions, etc, -- whether it's about EV's and green energy, or about ETP and that "nontraditional sources" are being counted as oil and ETP, and blah, blah, blah -- this is the fundamental reality.

And there's no credible sign that this changes in the next decade. Maybe two or even more, given the proportion of ICE's to EV's which will be produced in the third world due to fundamental economic and infrastructure realities.

Not, of course, that this will change the many nonsensical FUD spreading arguments a bit. And not that this is good news, given the realities of AGW and BAU growth on a finite planet.

But why do so many arguments that COMPLETELY ignore, or worse deny, this fundamental reality get so much play on this site? Are we really so collectively ignorant about comprehending basic facts on the ground? Are we really so delusional that we believe that such economic facts are "conspiracies" since they're reported by the MSM?

Or am I missing something, and the majority of the time spent here should be seen as purely entertainment -- and I may as well spend the time on Netflix or gaming, etc?

I originally came here to learn, and that's my overall goal when I come back. Is this just galactically stupid? (Feel to be frank -- I honestly want to know).

[asg70]

The value of the forum at present is mostly in the archive that documents its rise and fall, with its various "Dewey Defeats Truman" style posts. That kind of "I told ya so" validation can't be had with the daily dribble of news that fuels dueling predictions of the future. It only shakes out over the course of years. Forums really don't operate anymore as a call-and-response with that sort of feedback time. That's why you see a few people dredge up threads and try to reply to nonexistent posters. By the time Short really does climb back under a rock it won't be possible to rub humiliation in his face. That's just how things work. When people realize they're wrong they just silently walk away while hoping nobody notices.

[rockdoc123]

$this->bbcode_second_pass_quote('', 'B')ut why do so many arguments that COMPLETELY ignore, or worse deny, this fundamental reality get so much play on this site? Are we really so collectively ignorant about comprehending basic facts on the ground? Are we really so delusional that we believe that such economic facts are "conspiracies" since they're reported by the MSM?

[dcoyne78]

worldcc2.jpg

[AdamB]

$this->bbcode_second_pass_quote('dcoyne78', '[')attachment=0]worldcc2.jpg

$this->bbcode_second_pass_quote('dcoyne78', '[')attachment=0]worldcc2.jpg

[dcoyne78]

real oil price.gif

Hi Copious abundance,

As you no doubt are aware, the logarithmic scale allows one to easily see how the rate of growth in crude plus condensate output has changed over time. The copious abundance of oil supply has led to higher oil prices and greater efficiency in the use of oil since 1980.

There have been temporary gluts in the 1994-1999 period and since 2015, but notice that real oil prices are not close to the 1970 level of $11/b in 2016$. Data in the chart above is from the BP Statistical Review

https://www.bp.com/en/global/corporate/ ... nergy.html

[dcoyne78]

$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('dcoyne78', '[')attachment=0]worldcc2.jpg

[Cog]

Because demand and supply are more or less in balance.

[AdamB]

$this->bbcode_second_pass_quote('dcoyne78', '')$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('dcoyne78', '[')attachment=0]worldcc2.jpg

[asg70]

$this->bbcode_second_pass_quote('dcoyne78', '
')If oil is so abundant, why aren't oil prices $11/b, rather than $60/b?

[dcoyne78]

$this->bbcode_second_pass_quote('asg70', 'W')ho is to say you can't call oil abundant unless it's $11/bbl?

[AdamB]

$this->bbcode_second_pass_quote('dcoyne78', '')$this->bbcode_second_pass_quote('asg70', 'W')ho is to say you can't call oil abundant unless it's $11/bbl?

[AdamB]

$this->bbcode_second_pass_quote('', '
')
Turns out, America’s decade-long shale boom might just end up being a little too good to be true. There’s no denying that fracking has turned the U.S. into a force in the global oil and gas markets, which has more than a few people abuzz about the prospect of energy independence. But now, researchers at MIT have uncovered one potentially game-changing detail: a flaw in the Energy Department’s official forecast, which may vastly overstate oil and gas production in the years to come. The culprit, they say, lies in the Energy Information Administration’s premise that better technology has been behind nearly all the recent output gains, and will continue to boost production for the foreseeable future. That’s not quite right. Instead, the research suggests increases have been largely due to something more mundane: low energy prices, which led drillers to focus on sweet spots

[Tanada]

$this->bbcode_second_pass_quote('vtsnowedin', 'I') see that as just the suppliers anticipating both a good summer driving season and a heavy construction season, both of which I can see out working on the highways. I don't know as that build in inventory will be enough as the summer progresses.