[AdamB]

$this->bbcode_second_pass_quote('Revi', 'M')eanwhile, OPEC may have peaked:

http://peakoilbarrel.com

[MonteQuest]

$this->bbcode_second_pass_quote('AdamB', 'M')aybe. They said the same thing about the US, 10 years ago, right? All it took was the peak oil dynamic of POD and presto....just about made it back again.

[ennui2]

$this->bbcode_second_pass_quote('MonteQuest', '
')Presto? An economically losing proposition financed by ever-increasing debt, fraught with environmental impacts, and requiring a Red Queen Syndrome of drilling, that has only continued this long due to hedging.

[MonteQuest]

$this->bbcode_second_pass_quote('ennui2', ' ')And your preferred approach would have been...what?

[AdamB]

$this->bbcode_second_pass_quote('pstarr', 'N')o Adam, presto . . . production did not make it back to our 1970's peak. That is why it was the peak. As for natural gas:
$this->bbcode_second_pass_quote('', '[')url=https://oilandgas-investments.com/2015/natural-gas/the-marcellus-is-close-to-peak-production-and-why-this-is-so-important/]The Marcellus is close to Peak Production and why this is so Important[/url]

By Bill Powers: One of the little spoken truths of the shale gas industry over the past three years has been that most of America’s gas fields are now experiencing production declines with one large exception: the Marcellus Shale in Pennsylvania.And that narrow reliance on one play gets even more concentrated the North American natural gas market has morphed from relying on the entire Marcellus to provide all of the continent’s production growth a year ago—to now hoping that growth in select Pennsylvania counties will sustain current trends.

[AdamB]

$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('AdamB', 'M')aybe. They said the same thing about the US, 10 years ago, right? All it took was the peak oil dynamic of POD and presto....just about made it back again.

[MonteQuest]

$this->bbcode_second_pass_quote('AdamB', 'I')n either case, certainly Hubbert never said finance or debt was the defining characteristic of geologically based oil and gas production.

[peripato]

$this->bbcode_second_pass_quote('ennui2', '')$this->bbcode_second_pass_quote('MonteQuest', '
')Presto? An economically losing proposition financed by ever-increasing debt, fraught with environmental impacts, and requiring a Red Queen Syndrome of drilling, that has only continued this long due to hedging.

[ennui2]

$this->bbcode_second_pass_quote('peripato', '')$this->bbcode_second_pass_quote('ennui2', '')$this->bbcode_second_pass_quote('MonteQuest', '
')Presto? An economically losing proposition financed by ever-increasing debt, fraught with environmental impacts, and requiring a Red Queen Syndrome of drilling, that has only continued this long due to hedging.

[MonteQuest]

$this->bbcode_second_pass_quote('ennui2', ' ')I think some of the palpitating about the current situation is a little overdone, that's all. Aside from the debt-bomb argument, it's snooze-bar time with oil supply.

[ennui2]

$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('ennui2', ' ')I think some of the palpitating about the current situation is a little overdone, that's all. Aside from the debt-bomb argument, it's snooze-bar time with oil supply.

[peripato]

$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('ennui2', ' ')I think some of the palpitating about the current situation is a little overdone, that's all. Aside from the debt-bomb argument, it's snooze-bar time with oil supply.

[MonteQuest]

$this->bbcode_second_pass_quote('ennui2', 'M')onte, the financial crash was in 2008. It's not topical anymore. You might as well talk about how the Arab oil embargo of the 70s delayed peak oil. That was then, and this is now. Some people just can't let 2008 go, because it's when peak-oil stopped being relevant to anyone.

[ennui2]

$this->bbcode_second_pass_quote('MonteQuest', '
')Your dismissal of the 2008 demand destruction, is like saying the oil embargo wasn't the reason behind the oil shortage & gas rationing.

[ennui2]

$this->bbcode_second_pass_quote('pstarr', 'S')ay it loud! Say proud! Say it with BIG LETTERS. But it is still wrong.

[ennui2]

Wrong.

Oil prices were low even before the downturn in China. The downturn is just stacked on top, but it wasn't required.

Oil prices starting going low due to the success of fracking combined with the middle-east producers deciding to fight for market-share rather than price.

It's common-sense. If Planty pops in, I'm sure he'll agree with me, but he prefers to argue this point off the homepage rather than here.

The only reason to resist this common sense is to stubbornly hold onto some convoluted peak-oil-doom talking-point that nobody takes seriously outside of Gail or Chris Martenson's leftover groupies.

Once you let go of the need for the current situation to represent "doom" you'll be able to actually see the world much clearer, which is more shades of gray and not simply "doom" vs "cornucopia".