Peak Oil is You
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Page added on January 14, 2018
The world is not awash in oil yet
The past seven years were both very exciting, and very difficult for the global energy markets.
Today’s market faces two key challenges, both the product of human innovation and technological advancement.
The first is the challenge faced by oil producers to rebalance the market amid new supplies from unconventional sources due to new and improved techniques to unlock them.
The second challenge, one that is still developing, involves new automobile technology as world leaders race to ban combustion engines in favor of electrical vehicles.
The first challenge is the most immediate. The technological advancement that led to what is known as the “shale oil revolution” has made conventional exporters rethink how they plan their economic strategies for the future.
“For the first time in the history of oil, I see oil competing with oil,” said Abdullah Al-Attiyah, Qatar’s former minister of energy, at an industry conference in Istanbul last summer. “I saw renewables competing against oil but I never saw oil competing against oil.”
Al-Attiyah was pointing to the competition that has been seen between conventional and unconventional oil since 2011, which prompted the Organization of the Petroleum Exporting Countries (OPEC) and a group of independent producers led by Russia to cut their production and restore balance to the market.
The shale oil revolution in North America and the ability to unlock more oil from deposits in deep water have changed the assumptions of the oil market — with a view that there is now an abundance, rather than scarcity, of resources. The success of North American drillers gave hope that the world can unlock billions of barrels of oil trapped in challenging reservoirs over the course of many years.
The latest assessment of technically recoverable shale oil resources released by the US Energy Information Administration (EIA) in 2015 estimates that there are 418 billion barrels of shale oil worldwide, including 78 billion in the US, 74 billion in Russia, and around 32 billion in China.
The revolution in shale oil led to the assumption that the world is awash in oil, and there is a view that both unconventional and conventional oil producers can increase production. Yet this might not be the reality for four key reasons.
First, the success in recovering shale oil seen in North America might not be easily replicated elsewhere given, for example, the complexity of the geological formations in China and harsh weather conditions in Russia. Even within the US, most of increase in shale oil production is coming from the Permian in Texas, while other plays such as Eagle Ford or the Bakken are lagging behind.
The second factor is the fact that the rise of shale was prompted by the high oil prices seen in 2011-2014. Although the cost of production in the US has fallen significantly since 2014, that might not be enough to spur another revolution elsewhere, given the high cost of extracting unconventional resources in Russia, China, and many other countries.
Third, North American shale plays cannot continue increasing the rate they pump oil forever, with the EIA forecasting that production in the US will peak in the mid-2020s. So unless oil prices spike sharply or technology progresses, US oil production will plateau from the mid-2020s onwards. Therefore, today’s perceptions of abundance in the oil market is not the reality, given that global oil demand is increasing annually.
Fourth, conventional oil producers are struggling to increase production or make new discoveries given the relatively low oil prices. Rystad Energy, a leading upstream researcher in the industry, said on Dec. 21 that 2017 was yet another record low year for global discoveries of conventional oil.
The problem with conventional oil production is that it takes a long time to produce oil after a discovery, unlike shale, which can be produced fast. It is taking the UAE, Kuwait, Iraq and Iran years, and a lot of investment, to add to output.
What does all this mean? If global demand for oil keeps increasing as it has — mainly due to the fall in prices — the level of supply will not be able to catch up. This means a tight market in the future and higher oil prices. However, over the short and medium-term, oil prices might stay “lower for longer” before they see another cycle of upward movement. Therefore, we shouldn’t confuse short-term abundance with long-term market tightness.
51 Comments on "The world is not awash in oil yet "
Davy on Sun, 14th Jan 2018 6:22 am
It also depends on the economy. Rarely in any of these articles does the authors include economic prospects? It is just assumed there will be average yearly growth of 2-3% more or less. Markets are assumed to maintain their upward trajectory. It is assumed that the central banks will do “whatever it takes” and investors will “BTFD”. The problem is this is a finite world of limits.
Even Ponzi arrangements have limits and most often those limits are human behavior. Ponzi’s unravel when there is a rush to the door. There is nothing there so they unravel quickly. Behavior is now a dominant variable in the global economic system. Confidence is liquidity. Much of this liquidity is central bank easing supporting confidence. Much of the global world’s productivity is bad debt, overcapacity and other malinvestments. These negative growth dynamics have a cost over time. They can only be extended and pretended so long. Remember, fantasies have limits too.
If the economy does not perform as normal we are going to see supply free up causing more difficulties with oil producers. Price could go to triple digits also yet that likely will not last as sick as the world is with debt. The economy is now unpredictable in its state of management and repression. Bubbles cannot be managed forever and once control is lost chaos ensues. Global markets are very elevated and continue their relentless rise. How long can that continue. How long can China maintain its multiple bubbles that are so vital for global economic activity? It is really only China that is driving the kind of growth that justify the elevated markets we have today and China’s growth is little more than a massive credit creation to maintain its many unmaintainable bubbles.
Can this continue through 2018? Will the whole system just phase change to decline? Who knows anymore? In the past I watched all the markets and commodity prices daily for signs of decline but I don’t much anymore. They are not real as in normal price discovery with real market moves. They are now repressed and managed by central banks where investor emotions and the digital numbers are centrally managed. The markets are still at work but with this new player that is now dominant. It makes me wonder some time if they like it this way or they are scared shitless with this new power, probably both.
Oil is here in this world but many still want to believe oil is in that 20th century world of normality. If demand drops because of a faltering economy this will likely undo oil producer’s efforts to stabilize oil prices and will undo the renewable revolution. Slack will free up in the energy and power generation markets. Rates will explode or if they can still be repressed demand will not be there to justify investments.
We are really on the cusp of something. Call it the possibility of a sick man’s heart attack. We all know those people that are a heart attack waiting to happen and they won’t see a doctor. We just have no idea if and when it is going to strike. 2018 is shaping up as one of those years but is this just more of my own investment in the prediction of decline? Should I too just forget about science and history? It makes me wonder sometimes what is real and what isn’t.
twocats on Sun, 14th Jan 2018 9:53 am
very excellent analysis davy – summarized some conversations you and I have had perfectly – and thoughts you’ve been developing for a couple years now.
“In the past I watched all the markets and commodity prices daily for signs of decline but I don’t much anymore.” – yup
“If demand drops because of a faltering economy this will likely undo oil producer’s efforts to stabilize oil prices and will undo the renewable revolution.” – boom
Green People's Media on Sun, 14th Jan 2018 11:13 am
None of these gushy stories out of the oil industry, and in this case, the national oil industries of OPEC, ever acknowledge global climate change as a factor in the future of petroleum and natural gas.
It’s as if, after 30 years of listening to Rush Limbaugh in their offices, the writers have all come to agree with Rush: “global warming is a hoax, made up by China.”
Hurricane season 2017 in the USA looked pretty “hoaxy” didn’t it?
We (the Editorial We) have no doubt that every last megajoule of energy from petroleum & gas will be burnt. Even when the oil corporations are losing $10, $20, maybe more per barrel working to extract the last extractable barrel.
In the USA, Congress will authorize unlimited sums of money to pay in subsidies to extract the money-losing oil and gas. These sums will simply be added to the national debt as it pushes on towards 300%, 400%, and 500% of Gross Destructive Product.
So yeah, the future of oil is bright.
cheers, GPM
rockman on Sun, 14th Jan 2018 11:43 am
Exactly twocats. “I saw renewables competing against oil but I never saw oil competing against oil.” Utter bullshit and easily proven. Maybe he wasn’t around in Feb 1999 when the spot price of WTI fell to $12.01/bbl. And that’s the actual price… not inflation adjusted. And obviously an insignificant amount of oil coming from shale formations at that time. So it was convention oil producers (such as US companies) competing with convention oil producers (such as the KSA) at that time. And why was that competition so cut throat at that time? Obviously it was do to the buyer’s market and not the producers: global oil production (from conventional reservoirs) had increased over the 10 years prior to 1999 as it has since 2007. What changed at the end of the 1990’s was the consumer market: it would not/could not continue to pay the $25/bbl price it was paying at the beginning of 1997.
It is interesting to note that oil prices fell by the similar 50% magnitude in the late 90’s as we just experienced. And that global oil production increases during that period was of the same magnitude as we have recently experienced. Which leads to a valid question IMHO: was either price decline due to the increase in global production or due to the inability of the global economy to continue paying the higher price? Also interesting to note that about 2 years after oil hit that $12/bbl low it almost tripled in price $34/bbl in Oct 2000. And that was during a period when global oil production was flat to a slight increase. Again indicating that it was the consumer market controlling the price of oil and not the actions of the producers.
Much has been said about the recent relatively minor reduction in global oil production causing the increase in oil prices. But with some growing indications of the world’s economy demanding more oil even at the increased price it adds weight to the argument that economic vitality has a greater impact on oil prices the production rates. Including production from the shale formations.
It’s good to remember that it was a huge increase in oil prices (IOW how much the global economy would pay for oil) that kicked off the US shale boom and not the existence of technology to exploit the shales that had already been available for many years.
rockman on Sun, 14th Jan 2018 12:25 pm
GPM – “We (the Editorial We) have no doubt that every last megajoule of energy from petroleum & gas will be burnt.” So true: the consumers/voters will demand it.
“…Congress will authorize unlimited sums of money to pay in subsidies to extract the money-losing oil and gas…”. Hasn’t happened yet. But certainly a possibility. Look at Atrak: a money loser for decades but kept running with subs from a govt demanding we have a national rail system. In a sense consumers have had their motor fuels subsidized by a govt that has kept motor fuel taxes low which results in lower prices/increased consumption despite the fact that oil prices have increased dramaticly since the 90’s. One could easily argue that fuel taxes should be closer to $1/gal then half that at current levels. But again for the same as potential oil subsidies: to keep from angering consumers/voters. Same reason the govt has spent many tens of $BILLIONS on the SPR: to insulate the US consumer/voter from the real world of the oil market place.
aspera on Sun, 14th Jan 2018 1:21 pm
Davy – Excellent on how we are parting company with past thinking.
And “Behavior is now a dominant variable in the global economic system” is key. We’ve had four Nobel winners whose work was about non-rational, but highly adaptive behavior. Such behavior often seems “irrational” from inside the bubble, but once confidence and trust in a system are lost, the adaptive thing to do is find an exit.
Nobel’s on non-rational behavior:
Herbert A. Simon (1978)
Daniel Kahneman (2002)
Elinor Ostrom (2009)
Richard Thaler (2017)
deadly on Sun, 14th Jan 2018 5:23 pm
http://www.searchanddiscovery.com
Total amount of interest paid each year on the national debt since 1988:
2017 $458,542,287,311.80
2016 $432,649,652,901.12
2015 $402,435,356,075.49
2014 $430,812,121,372.05
2013 $415,688,781,248.40
2012 $359,796,008,919.49
2011 $454,393,280,417.03
2010 $413,954,825,362.17
2009 $383,071,060,815.42
2008 $451,154,049,950.63
2007 $429,977,998,108.20
2006 $405,872,109,315.83
2005 $352,350,252,507.90
2004 $321,566,323,971.29
2003 $318,148,529,151.51
2002 $332,536,958,599.42
2001 $359,507,635,242.41
2000 $361,997,734,302.36
1999 $353,511,471,722.87
1998 $363,823,722,920.26
1997 $355,795,834,214.66
1996 $343,955,076,695.15
1995 $332,413,555,030.62
1994 $296,277,764,246.26
1993 $292,502,219,484.25
1992 $292,361,073,070.74
1991 $286,021,921,181.04
1990 $264,852,544,615.90
1989 $240,863,231,535.71
1988 $214,145,028,847.73
https://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm
Going to be quite a sum paid in interest only to who knows who.
Going to be something like $10,000,000,000,000 paid in interest alone.
Might want to charge the interest against the principal at this point.
No sense in worrying about $100,000,000,000 in debt for finding some more oil, 2.5 million barrels produced domestically has to have some redemption.
When the interest paid on the national debt is now more than ten trillion dollars, oil’s contribution to the economy is ignored, when all told.
Looks like oil’s ox gets gored while the Judas Goats live like greedy pigs.
Although, drinking makes it better.
MASTERMIND on Sun, 14th Jan 2018 5:32 pm
Jesus fucking christ! Rockman and davy.
Keep it a few paragraphs at most. And site some fucking sources or fuck off! Nobody cares to read your long winded diatribes!
Davy on Sun, 14th Jan 2018 5:37 pm
mm, add up your many regurgitates and get back to me on your coming to Jesus
MASTERMIND on Sun, 14th Jan 2018 6:16 pm
Davy
Its just that your message gets lost in so many words. You talk yourself out of the deal!
MASTERMIND on Sun, 14th Jan 2018 6:20 pm
Where is greg? shaving his old ladies bush with weed whackers!
Davy on Sun, 14th Jan 2018 6:56 pm
mm, the amount of words doesn’t matter. Long or short is not important but the substance is. Sometimes substance is long and sometimes substance is short. We need all kinds of messages here. Maybe instead of always telling people things, listen. I need to listen too. We all need to listen.
Antius on Mon, 15th Jan 2018 2:35 am
“Total amount of interest paid each year on the national debt since 1988:
2017 $458,542,287,311.80
2016 $432,649,652,901.12
2015 $402,435,356,075.49”
If interest rates go back up to 5%, debt interest alone will be 1.5 trillion. That is twice the deficit and therefore enough to bankrupt the federal government. Why oh why are these people still borrowing money that can clearly never be repaid? Who the heck is lending it to them at such crappy rates of return?
As a business man, Trump of all people should know better. It is time for fiscal discipline. America needs a new deal.
peakyeast on Mon, 15th Jan 2018 3:20 am
@MM: I think you have forgotten your medication.
First: Noone cares about you and your girl being scared about natural bodily hair and obsessed about types of panties. It is a teenager/paedophilia/immaturity problem – keep it to yourself.
Second: You asks others to stop commanding you because you are not their bitch, but somehow you think other people are your bitches?
Third: Your comments are more and more resembling a retarded version of Apneaman – which is not a positive development.
Fourth: Thanks for posting your collection(s) links – even though they have been repeated about 100 times just by you.
rockman on Tue, 16th Jan 2018 11:40 am
MM – ” And site some fucking sources or fuck off!” As everyone has learned my primary reference for energy stats is the EIA. Very easy for you to check: eia.com. And then just search the pertinent category. Unless you’re too incompetent or lazy it’s an easy effort.
But honestly if you’re going to be a useful poster here you should already be very familiar with the EIA data. If not just a friendly suggestion: familiarize yourself with the basic facts and folks might begin to take your post more seriously. Ad while I’m offering some help your personal attacks do nothing to change anyone’s opinions. Like Davy for example. But there are some fact based inf
rockman on Tue, 16th Jan 2018 11:46 am
“…some fact based info out there that might be used to counter some of his positions. I’ve found Davy always willing to consider alternative possibilities using that approach.
But if you think you can shout Davy down you are so f*cking wrong. LOL.
MASTERMIND on Tue, 16th Jan 2018 11:47 am
Rockman
You call me lazy and then say personal attacks dont help. And you dont speak for any of the commentators on here. You are a fucking idiot who uses the Daily caller as your source….
MASTERMIND on Tue, 16th Jan 2018 11:49 am
Peakyyeast
You add nothing to the discussions. At least I site scholarly sources! EAT MY ASS!! SNOWFLAKE!
MASTERMIND on Tue, 16th Jan 2018 11:52 am
Three years till anarchy!
http://www.energybulletin.net/sites/default/files/Peak%20Oil_Study%20EN.pdf
That light at the end of the tunnel is actually an oncoming train!
GregT on Tue, 16th Jan 2018 2:39 pm
“Three years till anarchy!”
More from your linked repot MM.
“To perform its tasks, one study from the ACT 21 series (Armed Forces, Capabilities and Technologies in the 21st Century) and one Mid-term Study (MTS) will be alternately presented by the Future Analysis Branch every 5 years. ACT 21 studies address conceivable long-term security policy challenges that are to be met within a 30-year time frame whereas MTS studies address challenges that are to be met within a 15-year time frame.”
The report that you keep linking to is an ACT 21 report from 2010.
2010 + 30 = 2040
GregT on Tue, 16th Jan 2018 2:47 pm
Passing legislation in the US alone, making it mandatory to car pool to work on the daily commute, would go a long way to solving near term global oil shortages.
Of course that would do nothing at all to solve environmental limits. The only solution to that little problem would be the collapse of modern industrial society, and a mass die off of the human race.
Cloggie on Tue, 16th Jan 2018 3:00 pm
“2010 + 30 = 2040”
Millimind is probably a kindergarten dropout.lol
MASTERMIND on Tue, 16th Jan 2018 3:24 pm
Greg
the study says when peak oil arrives it will collapse the world economy. And according to the IEA and Saudi’s that is 2020….You are cherry picking dumb disclaimers and ignoring the conclusions!
What happened to bring it on?
MASTERMIND on Tue, 16th Jan 2018 3:27 pm
Here are five peer reviewed scientific studies authored by top experts that prove beyond any reasonable doubt that global civilization will collapse within the next decade.
http://www.sciencedirect.com/science/article/pii/S0921800914000615
http://www.energybulletin.net/sites/default/files/Peak%20Oil_Study%20EN.pdf
http://rspb.royalsocietypublishing.org/content/280/1754/20122845
http://sustainable.unimelb.edu.au/sites/default/files/docs/MSSI-ResearchPaper-4_Turner_2014.pdf
http://www.feasta.org/2012/06/17/trade-off-financial-system-supply-chain-cross-contagion-a-study-in-global-systemic-collapse/
EAT MY ASS GREG! YOU CANT EVEN HANDLE A STUDY LET ALONE THE COLLAPSE! THAT FAT WIFE OF YOURS WILL BE HUNNNNGRY!!!LOL
MASTERMIND on Tue, 16th Jan 2018 3:27 pm
Existing oil reserves are scheduled to begin a catastrophic crash within 1 to 3 years. When it hits the economic and social damage will be catastrophic. The end of Western Civilization, from China to Europe, to the US, will not occur when oil runs out. The economic and social chaos will occur when supplies are merely reduced sufficiently….
https://www.scientificamerican.com/article/has-peak-oil-already-happened/
http://www.sciencedirect.com/science/article/pii/S030142151300342X
http://www.sciencedirect.com/science/article/pii/S0016236114010254
http://www.geo.cornell.edu/eas/energy/the_challenges/peak_oil.html
http://www.scribd.com/document/367688629/HSBC-Peak-Oil-Report-2017
https://imgur.com/a/6dEDt
MASTERMIND on Tue, 16th Jan 2018 3:52 pm
Take note doomie preppers….
In weakness… many see opportunity … just wait till BAU dies… and nobody picks up 911….
A joint investigation into the sexual abuse of immigrant women who clean the malls where you shop, the banks where you do business and the offices where you work.
https://www.pbs.org/wgbh/frontline/film/rape-on-the-night-shift/
Goons are going to spread Gregs wife out and run a train on her ass..They will turn her into their personal fuck toy! And if that bitch doesn’t swallow they will put it on a spoon for her and make airplane noises! LOL
JuanP on Tue, 16th Jan 2018 4:18 pm
Minimind, you are like a broken record! LOL. And what is it with your sexual depravity? Are you some kind of pervert. For someone who claims to be a genius you are quite dumb. We all keep telling you that the reports and articles you link to don’t say what you claim they do. We have already been over them for years here at PO and over at TOD. Please quote the parts of the articles thT say that with links to the pages because I can’t find them. LOL
MASTERMIND on Tue, 16th Jan 2018 5:25 pm
juan
Read the conclusion at the end.
Study: Limits to Growth was Right. Research Shows We’re Nearing Global Collapse (Turner, 2014)
http://sustainable.unimelb.edu.au/sites/default/files/docs/MSSI-ResearchPaper-4_Turner_2014.pdf
Read page 56
Study: Financial System Supply-Chain Cross-Contagion: in Global Systemic Collapse (Korowicz, 2012)
http://www.feasta.org/2012/06/17/trade-off-financial-system-supply-chain-cross-contagion-a-study-in-global-systemic-collapse/
Read the first paragraph
The Royal Society: Study, Now for the First Time A Global Collapse Appears Likely (Ehrlich, 2013)
http://rspb.royalsocietypublishing.org/content/280/1754/20122845
Are you too dumb to actually read a study? It must be your low Hispanic IQ..
MASTERMIND on Tue, 16th Jan 2018 5:27 pm
JuanP
Leave the science to me! If someone wants there lawn mowed they will call you okay! LOL
Mad Kat on Tue, 16th Jan 2018 7:07 pm
Muddymind, your arrogance and immaturity is growing. That punch in the face is coming faster and faster. Keep it up! I dare you to try it on someone who is physically in your space and not your “girlfriend”. LMAO.
GregT on Tue, 16th Jan 2018 8:08 pm
“If someone wants there lawn mowed they will call you okay!”
That would be “their” lawn mowed MM, and JuanP is magnitudes above you in the intelligence department, as well as in social status. You are a nobody in comparison to JuanP.
MASTERMIND on Tue, 16th Jan 2018 8:25 pm
Greg
If someone wants to learn how to ban beans they will call you okay! Shouldnt you be feeding that fat hairy heifer you call a wife? I am sure she is hungry for a snack by now! LOL
MASTERMIND on Tue, 16th Jan 2018 8:26 pm
Simple really….when the World Economy Collapses everything shuts down…the end….The collapse will be absolutely horrible..There is no collapse or horror movie ever produced that has even come close to imagining what the collapse of BAU might look like. I’m talking about every corporation and every social program going bankrupt at once.I’m talking about people eating people. I’m talking about the Worst Catastrophe to ever happen in the history of mankind. Nothing has ever, or will ever come close.
http://www.sciencedirect.com/science/article/pii/S0921800914000615
http://www.energybulletin.net/sites/default/files/Peak%20Oil_Study%20EN.pdf
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3574335/
http://sustainable.unimelb.edu.au/sites/default/files/docs/MSSI-ResearchPaper-4_Turner_2014.pdf
http://www.feasta.org/2012/06/17/trade-off-financial-system-supply-chain-cross-contagion-a-study-in-global-systemic-collapse/
Mad Kat on Tue, 16th Jan 2018 8:30 pm
Greg, MM is best ignored. He has a titanium barrier to any rational thought or understanding of the real world. If you reply to his asinine comments with real facts and situations, he either ignores them or he rebuts wit his sex/zombie/peer review bullshit.
For you education MM… Asinine: extremely or utterly foolish or silly; of, relating to, or resembling an ass. M-W
GregT on Tue, 16th Jan 2018 8:42 pm
I can only wonder how long it takes before the board’s self appointed ‘moderator/ neuterer’ shows up in defence of this idiot again, and starts calling me a West Coast Canadian Anti-American, American stalker and pricker.
This forum really has gone downhill over the last few years. I would expect it to get much worse when things really start to unwind stateside.
Mad Kat on Tue, 16th Jan 2018 9:04 pm
You are correct, Greg. I try to post comments on the articles posted here and get some stupid, usually immature, comment by either Tweedldee or Tweedledum. I can deal with Boat. He is not the brightest here, but he is fun to debate. The other two are losers.
The US is certainly headed down the slippery slope and MM & Davy are prefect examples of why. Davy’s 1%er arrogance and immaturity and MM’s narrow minded reliance on others to think for him, plus his arrogance and immaturity, are just two of the obvious areas causing the decline.
Chaos and rioting will be their future as tax slaves and cannon fodder when the wars come home. There will never be another great America.
MASTERMIND on Tue, 16th Jan 2018 9:23 pm
Madkat
I know what do experts and doctors know anyways! I shouldn’t listen to them I should listen to a retired uneducated Mormon construction worker. I am sure he knows more! LOL
Madkat if my toilet clogs up I call people like you to fix it!
MASTERMIND on Tue, 16th Jan 2018 9:25 pm
Greg
Shouldnt you be spending your time more wisely and preparing for the Apocalypse? You realize you ware going to be outnumbered by a thousand to one! And that tub o lard wife of yours might not put out if she doesn’t get her four meals from McDonald a day! LOL
MASTERMIND on Tue, 16th Jan 2018 9:29 pm
Greg
If the board sucks so much then you can leave! Nobody even enjoys any of your stupid posts. All you do is attack others and bring no arguments and no sources of your own. Why dont you go to alex jones site with all the other anti guberment conspiracy nutters like yourself?
Mad Kat on Tue, 16th Jan 2018 9:39 pm
Ah, Muddy mind returns! Shouldn’t you be sleeping so you can get up and dumpster dive in the AM to supplement your unemployment? Or is your “girlfriend” supporting you with some help from your mom? Food stamps don’r go very far do they? You could donate plasma if you are not afraid of needles. It pays ok for doing nothing. You should be good at that. LOL
MASTERMIND on Tue, 16th Jan 2018 9:53 pm
Madkat
Actually I took a leave of absence from my university job for a year. i lied and said a retaliative died and I needed to fix up my grand mothers home for her to live. I did this because I am confident I have no future ahead and before shit starts hitting major fans I would like to have a little time off since I will never be able to retire.
GregT on Tue, 16th Jan 2018 10:06 pm
“i lied and said a retaliative died and I needed to fix up my grand mothers home for her to live.”
Not surprising at all. Once a liar, always a liar.
Mad Kat on Tue, 16th Jan 2018 10:12 pm
“Actually I took a leave of absence from my university job for a year.” And bulls fly. Watch out for the falling bullshit! Is that what you call unemployment now?
BTW: I understand that if you get to the dumpster just before sunrise, there is better picking. Most stores trow their stuff out at night. How do I know? I worked for the Giant food chain for a year behind the local deli counter for extra cash for my relocation to the Ps. You can never have enough money or preps.
Cloggie on Tue, 16th Jan 2018 10:18 pm
“I did this because I am confident I have no future ahead and before shit starts hitting major fans I would like to have a little time off since I will never be able to retire.”
The damage which the likes of Richard Heinberg inflicted on weak, impressionable minds like “mastermind” is immense. A good chemist could contribute significantly to help solving energy and storage problems. But instead he is wasting his life on posting the same set of 5 obsolete 2010 articles, not even Heinberg supports any longer.
https://www.amazon.com/Our-Renewable-Future-Hundred-Percent/dp/1610917790/ref=sr_1_1
GregT on Tue, 16th Jan 2018 10:25 pm
“I did this because I am confident I have no future ahead and before shit starts hitting major fans I would like to have a little time off since I will never be able to retire.”
The thing about life is, nobody gets out alive. Maybe everybody should just give up now, because all of our future’s end the same way. Permanently.
MASTERMIND on Tue, 16th Jan 2018 10:35 pm
Clog
Only one of my studies is from 2010..Not all five you liar…And Heinbergs book you keep posting says that a 100 percent renewable future isnt possible. Why are you so ignorant?
MASTERMIND on Tue, 16th Jan 2018 10:38 pm
Clogg
2014
NASA Study: Industrial Civilization is Headed for Irreversible Collapse (Motesharrei, 2014)
http://www.sciencedirect.com/science/article/pii/S0921800914000615
2013
The Royal Society: Study, Now for the First Time A Global Collapse Appears Likely (Ehrlich, 2013)
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3574335/
2014
Study: Limits to Growth was Right. Research Shows We’re Nearing Global Collapse (Turner, 2014)
http://sustainable.unimelb.edu.au/sites/default/files/docs/MSSI-ResearchPaper-4_Turner_2014.pdf
2012
Study: Financial System Supply-Chain Cross-Contagion: in Global Systemic Collapse (Korowicz, 2012)
http://www.feasta.org/2012/06/17/trade-off-financial-system-supply-chain-cross-contagion-a-study-in-global-systemic-collapse/
Hey clog where are all your peer reviewed studies? Oh yea Jackobsons 100 percent renewable paper got debunked this year…OUCH!
GregT on Tue, 16th Jan 2018 10:55 pm
“Only one of my studies is from 2010”
They aren’t your studies, most of us have read them all before, and many have been discussed here a long time before you ever showed up.
Mad Kat on Tue, 16th Jan 2018 11:03 pm
Cloggie, most young people in the US seem to be giving up. Getting lost in techie land fantasies. Eyes glued to a 2×4 inch screen where their whole life exists in digital form. A form of drug addiction.
I read just the other day that, of the military age youth, less than 25% would be eligible for a draft vs 50%+ just 20 years ago. Couch potatoes on drugs/obese/uneducated, etc. A declining life expectancy. Debt up the kazoo. A 3rd world country in the works.
MASTERMIND on Tue, 16th Jan 2018 11:20 pm
Look its clogg post peak oil shortages!
https://imgur.com/a/PI2bb
That damn MM was right! He will go batshit insane! All deniers will. That is why they deny to protect their minds from going insane. They lack impulse control. But when the gas stations start running out they will be unable to deny the truth.