"Peak Oil"

[Leonhard]

But not imminent.

Definitely not, at least as long as you mean supply of oil. Peak production will happen in our lifetime as the west and China transition to renewables, and India and some African countries starts developing theirs.

We'll never run out of oil. The peak oil doomsday scenario is not an imminent threat, nor is it a possibility that should be ignored.

[shunyadragon]

Peak Oil is inevitable, oil is a finite resource at one day we will have extracted most the oil that it is economically feasible to extract.

At that point oil prices will rise.

We will never really run out of oil, but it will become more expensive.

When will that happen, that's a really complicated question. And I don't have the answer to it.

I remember Glenn's predictions and projections. The original projections of 'peak oil' were made in the late 1990's and early 2000s assuming increased world demand based on economic projections, which did not happen up to now, in part due to world recession, failure of third world economies, and increased conservation of petroleum energy resources by replacement energy resources. The recent addition of shale oil resources and natural gas resources due to fracking will only increase production in the short term. The heavy crude and shale oil resources of Canada will only become significantly available when the cost benafit is realized by high price market petroleum pressures.

Leonard is correct, even though the short term projections were off, their is a definite limit to the finite availability of carbon based resources, and ultimately within the next fifty years we will hit the demand versus production wall, and production will be increasingly unable to meet demand.

[Cow Poke]

Definitely not, at least as long as you mean supply of oil. Peak production will happen in our lifetime as the west and China transition to renewables, and India and some African countries starts developing theirs.

We'll never run out of oil. The peak oil doomsday scenario is not an imminent threat, nor is it a possibility that should be ignored.

Yeah

[rogue06]

Electric cars help a little bit, but the electricity still mostly comes from nonrenewable resources and is less efficient. IMO demand won't stop going up until pretty much the whole world is industrialized.

And more often than not the electricity comes from coal plants. So much for a green alternative.

[Leonhard]

And more often than not the electricity comes from coal plants. So much for a green alternative.

As I said before, even if you got all the electricity from a coal plant, it would still be greener to drive a car with an electric motor than a gasolin engine. A lot of people don't realize this. Its due to the fact that coal power plants are usually operating at a very high efficiency (above 40% in some cases, in further cases the waste heat is used for heating homes), while a gasoline engine runs at only around 15-18% efficiency.

I can't remember how much the net benefit was, but it was definitely significant. And then there's Denmark where nearly half of the energy at day, and all of it at night comes from wind turbines. So you could just charge your car overnight if you want to be completely green.

[Sparko]

Oil prices dip below zero as producers forced to pay to dispose of excess

US crude fell to negative value for first time in history as stockpiles overwhelmed storage facilities, before rebounding to just over $1 on Tuesday

https://www.theguardian.com/world/20...e_iOSApp_Other

[seanD]

Oil prices dip below zero as producers forced to pay to dispose of excess

US crude fell to negative value for first time in history as stockpiles overwhelmed storage facilities, before rebounding to just over $1 on Tuesday

https://www.theguardian.com/world/20...e_iOSApp_Other

The most likely cause is the waning of demand due to the global recession (which was beginning to show in the data long before C-19). But there are also theories out there suggesting some of it has to do with a rouse between Russia and the Saudis to hurt US oil exports. IOW, the fight between the two is an act in order to lower prices to kill off the shale industry. Not sure how true that is, but I've heard that from some credible sources who think that's possible. It also should be noted that the Saudis have always had an intent to kill off our shale industry.

[oxmixmudd]

The most likely cause is the waning of demand due to the global recession (which was beginning to show in the data long before C-19). But there are also theories out there suggesting some of it has to do with a rouse between Russia and the Saudis to hurt US oil exports. IOW, the fight between the two is an act in order to lower prices to kill off the shale industry. Not sure how true that is, but I've heard that from some credible sources who think that's possible. It also should be noted that the Saudis have always had an intent to kill off our shale industry.

From what I understand that is at the core of what is happening. They flooded the market in a bid to kill shale ... which they well may accomplish, but they shot themselves in the butt to do it.

[Sparko]

I just thought it was ironic how fast things can change. One minute we are worrying about running out of oil, the next we are disposing of it because we have too much

[seanD]

I just thought it was ironic how fast things can change. One minute we are worrying about running out of oil, the next we are disposing of it because we have too much

The fearmongering came mainly from leftist activists, probably to try and scare everyone off of oil and seek other alternative sources (though there are some that actually believed peak oil would result in global catastrophe). They obviously didn't understand peak economic growth was happening much faster.

[KingsGambit]

The fearmongering came mainly from leftist activists, probably to try and scare everyone off of oil and seek other alternative sources (though there are some that actually believed peak oil would result in global catastrophe). They obviously didn't understand peak economic growth was happening much faster.

I'm not sure this is accurate, at least among those actually with the credentials to speak (as opposed to random activists). It's been maybe 13 years since I was heavily into the topic, but the most prominent mainstream proponent of it IIRC was Matthew Simmons, a Bush energy advisor and oil industry insider... which hardly ticks any of those checkmarks. T. Boone Pickens was also fairly vocal about peak oil, and he was hardly a leftist activist either.

[Juvenal]

The fearmongering came mainly from leftist activists ...

Glenn Morton, leftist activist.

Awesome.

[Cow Poke]

Glenn Morton, leftist activist.

Awesome.

Had lunch with him a couple weeks ago --- he's doing great, by the way.

[seanD]

Glenn Morton, leftist activist.

Awesome.

"Mainly." Sure, there were a few economic gloom and doomers, perhaps considered of the right (though that might be pretty debatable), like Michael Ruppert that bought the nonsense.

[KingsGambit]

"Mainly." Sure, there were a few economic gloom and doomers, perhaps considered of the right (though that might be pretty debatable), like Michael Ruppert that bought the nonsense.

You've poisoned the well here by ignoring the mention of actual conservatives above and simply proposed a counterexample of somebody who, when I just looked him up, was a host on the Progressive Radio Network.