[AdamB]

$this->bbcode_second_pass_quote('', '
')I was recently asked to give a talk called, “The Approaching US Energy-Economic Crisis.” In other words, how might the United States encounter problems that lead to a crisis? As we will see, many of the problems that could lead to a crisis (such as increased wage disparity and difficulty in collecting enough taxes) are issues that we are already beginning to encounter. In this talk, I first discuss the connection between energy and the economy. Without this connection, it doesn’t make sense to talk about a crisis arising with respect to energy and the economy. I then discuss seven issues that could lead to a US energy-economic crisis. Economic Growth Is Closely Tied to Energy Consumption If we look at world data, it is clear that there is a close tie between energy consumption and economic growth. Slide 2 On an individual country basis, there

[AdamB]

Gail, from TOD, proclaimer of peak oil in 2008, proclaimer of high prices = bad, and proclaimer of low prices = bad, and with zero experience in energy and economics...has spoken!!! Again. Is the proclamation of doom count (for whatever reason) into the double digits yet? I think it is.

[jedrider]

$this->bbcode_second_pass_quote('', 'A') groundbreaking study in Elsevier’s Ecological Economics journal by two French economists for the first time proves the world has passed a point-of-no-return in its capacity to extract fossil fuel energy: with massive implications for the long-term future of global economic growth.

[ROCKMAN]

"...for the first time proves the world has passed a point-of-no-return in its capacity to extract fossil fuel energy...". A very strange statement. Perhaps just a bad translation: the world will have the "capacity" to produce 100 million bopd INDEFINATELY. But it may not have the developed reserves to keep producing the current rate much longer.

"Extract"? I assume they are trying to refer to "developing" new production and not "produce" which is what extraction implies. As stated above the industry has the capability to extract/produce twice the current global production rate. It just lacks the reserves to do so.

"Point-of-no-return": that point in time when it's better to keep going forward then to turn around and go back to where you started from. I'm not sure how going back to when we started the petroleum age before we reached the PONR would be done.

I suspect what they are trying to say is that we've reached global peak fossil fuel. Which is OK if these ECONOMISTS are of that OPINION. The probably minored in geology and have years of experience working in the petroleum industry. LOL. But as we all know it can't be proven. Unless one has an infallible crystal ball that can see decades ahead. No different the someone claiming in the late 70's they had "proof" the US had reached PO in the early 70's. As we know had oil prices not collapsed there was a strong possibility the US would have set a new PO date a couple of years ago.

And depending on the future price of oil the US may yet set a new PO date. But in my OPINION that isn't likely to happen. But I can offer no PROOF that it won't happen.

"Proof" is an extremely powerful claim. Powerfully supportive when it can be verified and powerfully discrediting when it fails testing.

[jedrider]

Very bad translation. But, you get the point. No one try to emulate this vocabulary as you will get called out on it!

Just when we thought we peaked a decade ago, we appear to have more energy 'produced' than ever! Of course, we probably poisoned a bunch of good aquifers already to accomplish this. However, fear not, more destruction is possible.

[asg70]

$this->bbcode_second_pass_quote('pstarr', '
')No one in their right mind claimed global oil production peaked in 2005. Though in retrospective it has become quite apparent that something did happen.

[asg70]

$this->bbcode_second_pass_quote('pstarr', '
')No one declared victory about such a tragic event.

[asg70]

$this->bbcode_second_pass_quote('pstarr', '
')Sorry but I don't have the time or interest to troll the archives. Perhaps you can direct me to all that?

[peripato]

$this->bbcode_second_pass_quote('AdamB', 'G')ail, from TOD, proclaimer of peak oil in 2008, proclaimer of high prices = bad, and proclaimer of low prices = bad, and with zero experience in energy and economics...has spoken!!! Again. Is the proclamation of doom count (for whatever reason) into the double digits yet? I think it is.

[asg70]

$this->bbcode_second_pass_quote('peripato', '
')She only has to be right once. Lol.

[peripato]

$this->bbcode_second_pass_quote('asg70', '')$this->bbcode_second_pass_quote('peripato', '
')She only has to be right once. Lol.

[AdamB]

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('', '')$this->bbcode_second_pass_quote('jedrider', 'V')ery bad translation. But, you get the point. No one try to emulate this vocabulary as you will get called out on it!

Just when we thought we peaked a decade ago, we appear to have more energy 'produced' than ever!

[Outcast_Searcher]

Well, with Brent passing $60 and WTI looking strong pushing $54, I guess we have good news and bad news:

Good news: Short term ETP doom via oil heading rapidly toward zero (including short's recent prognostications of WTI plunging below $50 toward $40 or so) is looking less likely to be in our face.

Bad news:

1). I guess the $2.19 fill-up price I had yesterday can't last with this. I was musing that the end of summer driving season had dropped the gas price, even as oil had generally been climbing in recent weeks.

2). Since according to the ETPers, people can't afford gasoline at $2, I guess that means economic doom. Oh but wait -- the news on the economy keeps generally improving (like the 3% first estimate for US GDP out today, on the back of current solid employment growth), so apparently not so much.

http://www.marketwatch.com/story/oil-pu ... 2017-10-27

[KaiserJeep]

I coughed up some coffee on that one. The Chevron station down the street is $2.65/g, there are plenty of stations around here where gas is $3.50/g or more. The citizens cannot be bothered to cross the street to save a quarter a gallon when filling up a 20 gallon tank - a sawbuck is not worth the extra 30 seconds it would take them.

[Outcast_Searcher]

$this->bbcode_second_pass_quote('KaiserJeep', 'I') coughed up some coffee on that one. The Chevron station down the street is $2.65/g, there are plenty of stations around here where gas is $3.50/g or more. The citizens cannot be bothered to cross the street to save a quarter a gallon when filling up a 20 gallon tank - a sawbuck is not worth the extra 30 seconds it would take them.

[onlooker]

http://www.alt-market.com/articles/3303 ... etrodollar
Lies and distractions surrounding the diminishing Petrodollar

[KaiserJeep]

$this->bbcode_second_pass_quote('Outcast_Searcher', '-')snip-
Thanks for that - I just learned that a sawbuck is a $10 bill in addition to something used for lumber.
-snip-