[AdamB]

$this->bbcode_second_pass_quote('shortonoil', '
')The world's petroleum producers have been pumping the planet intensively for 159 years. They have always taken the best of what could be found; what's left is getting pretty crappy. We have now extracted about 40% of all the liquid hydrocarbons on the planet.

[StarvingLion]

The so-called Super-High EROEI WindMill funded by the Windmill Bank, Deutsche Bank, is bankrupt. Its gone from 107 Euros in June 2007 to 6.45 as of today.

Windmills are useless.

[coffeeguyzz]

Always get a kick out of when Mr. Short or someone else with comparable ignorance spouts some ridiculous stuff.
Spurs me, time permitting, to do some reading up on current developments in the hydrocarbon world.

Easy peasy activity for anyone truly interested in this stuff.

Anywhoo, the buzz surrounding pre salt formations may well prove to be valid.
Terminology now seems to categorize Jurassic reservoirs as the 'next frontier' and that frontier is being exploited right this moment in Da Guf.

Chevron's Anchor project has yet to be greenlighted, but if the 20,000 psi formation proves productive, hold onto your hats.

Along with Shell's Appomattox operation, an entirely new resource - deep, high pressure hydrocarbon reservoirs - may boost production worldwide.

Peak what?

[AdamB]

$this->bbcode_second_pass_quote('StarvingLion', 'T')he so-called Super-High EROEI WindMill funded by the Windmill Bank, Deutsche Bank, is bankrupt. Its gone from 107 Euros in June 2007 to 6.45 as of today.

Windmills are useless.

[eclipse]

While we're talking about EROEI, how often have you heard of ESOEI? That's EROEI but also counting the energy cost of the energy storage for a renewable grid. It ain't pretty, which is another reason why I'm a fan of nuclear power.
http://bravenewclimate.com/2014/08/22/c ... y-storage/

[Yoshua]

Chinese diesel demand fell 14 percent in March and 19 percent in April.

https://www.cnbc.com/2019/05/28/falling ... cture.html

[AdamB]

$this->bbcode_second_pass_quote('Yoshua', 'C')hinese diesel demand fell 14 percent in March and 19 percent in April.

https://www.cnbc.com/2019/05/28/falling ... cture.html

[Yoshua]

Another nation with a growth problem is Venezuela. Venezuela's GDP has contracted by 47 percent since 2015.

Falling EROEI is main reason for Venezuela's economic contraction.

https://www.argusmedia.com/en/news/1911 ... ssion=true

[AdamB]

$this->bbcode_second_pass_quote('Yoshua', 'A')nother nation with a growth problem is Venezuela. Venezuela's GDP has contracted by 47 percent since 2015.

Falling EROEI is main reason for Venezuela's economic contraction.

https://www.argusmedia.com/en/news/1911 ... ssion=true

[Yoshua]

The resource curse is behind the ill's of Venezuela? How to end this curse? Call in the exorcist?

[AdamB]

$this->bbcode_second_pass_quote('Yoshua', 'T')he resource curse is behind the ill's of Venezuela? How to end this curse? Call in the exorcist?

[eclipse]

It's not a resource curse it's the curse of the dictator. A landmass can have roughly equitable climate and weather and geography and resources, and yet the different rules imposed from different national governments at the top have radically different economic and social outcomes. Want photographic proof? North Korea and South Korea. What to do about the 'resource curse'? Invade? Have a revolution? Because it turns out to be political after all.

NASA Earth Observatory images by Joshua Stevens, using Suomi NPP VIIRS data from Miguel Román, NASA's Goddard Space Flight Center [Public domain]

[shortonoil]

$this->bbcode_second_pass_quote('', 'T')he resource curse is behind the ill's of Venezuela? How to end this curse? Call in the exorcist?

[asg70]

$this->bbcode_second_pass_quote('Yoshua', 'A')nother nation with a growth problem is Venezuela. Venezuela's GDP has contracted by 47 percent since 2015.

Falling EROEI is main reason for Venezuela's economic contraction.

https://www.argusmedia.com/en/news/1911 ... ssion=true

[onlooker]

$this->bbcode_second_pass_quote('asg70', '')$this->bbcode_second_pass_quote('Yoshua', 'A')nother nation with a growth problem is Venezuela. Venezuela's GDP has contracted by 47 percent since 2015.

Falling EROEI is main reason for Venezuela's economic contraction.

https://www.argusmedia.com/en/news/1911 ... ssion=true

[rockdoc123]

$this->bbcode_second_pass_quote('', 'Y')eah as in they believed they had the right to keep all or at least most of the profit from their oil. The US GOV and oil corporations begged to differ

[onlooker]

Actually, a little history of Venezuela vis-a-vis, the Western corporate economic order is instructive. Feel free to transfer this exchange to appropriate thread Mods. " The exploitation of Venezuela’s tremendous petroleum resources has been the constant objective of US policy and action toward the South American state for over a century." Yes, Venezuela should have let the oil companies stay because they lacked the expertise to exploit their oil reserves. Other than that based on history of extreme US meddling, can anyone blame them for being wary of interactions with the Western power brokers.

https://venezuelanalysis.com/analysis/14263

[KaiserJeep]

Funny thing, for as much as they complained about US meddling, the place was running like clockwork, with low unemployment, and plenty of food - even educational opportunities. After the "people's revolution", oil production tanked, there is poverty and corruption everywhere, and widespread famine and lack of basic medical care. All of which they would blame the US for, even though it began when they nationalized the US oil company assets.

[asg70]

$this->bbcode_second_pass_quote('onlooker', '
')can anyone blame them for being wary of interactions with the Western power brokers.

[Yoshua]

Venezuela's curse is the depletion of high quality resources and being forced to switch to low quality resources.

This has lead to all kinds of political and economic problems.