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bruce MN
Advisor

Interesting piece on world oil/gas supply

Says, essentially,  not likely to run out anytime in the foreseeable future. Mayb eotehr problems, but not the supply.

 

Loaded with links.

 

http://www.tomdispatch.com/blog/175791/

5 Replies
hardnox604008
Advisor

Re: Interesting piece on world oil/gas supply

If it turns out to be true it would be a wonderful thing, offering the 20 years needed for tansition without too much economic disruption. But of course all we're doing is using it as an excuse to kick the can further down the road.

 

Maybe the old cheap oil where you stuck a pipe in the ground and thousands of barrel a day gushed out for many years and the marginal extraction cost was maybe .50/barrel was for wasting. But the stuff that costs upwards of $100/barrel to produce isn't.

 

And in almost all cases, a significant part of the higher production cost is energy input, leading to declining EROEIs.

 

A hamster wheel is OK if it's the best we'e got but it just keeps you moving, doesn't take you anywhere.

 

 

r3020
Senior Advisor

Re: Interesting piece on world oil/gas supply


@hardnox604008 wrote:

If it turns out to be true it would be a wonderful thing, offering the 20 years needed for tansition without too much economic disruption. But of course all we're doing is using it as an excuse to kick the can further down the road.

 

Maybe the old cheap oil where you stuck a pipe in the ground and thousands of barrel a day gushed out for many years and the marginal extraction cost was maybe .50/barrel was for wasting. But the stuff that costs upwards of $100/barrel to produce isn't.

 

And in almost all cases, a significant part of the higher production cost is energy input, leading to declining EROEIs.

 

A hamster wheel is OK if it's the best we'e got but it just keeps you moving, doesn't take you anywhere.

 

 


Isn't that how markets are suppose to work. Higher cost leads some entrepreneur to find a cheaper way hoping for a handsome profit for himself.

hardnox604008
Advisor

Re: Interesting piece on world oil/gas supply

Could be that Tom Swift's Perpetual Motion Machine is just aruond the corner.

 

But more about how markets really work, likely many small innovations in energy output and conservation driven by higher prices. And just flat out means driven conservation. Meanwhile, a great deal of investment based on perpetual cheap energy gets to the Creative Destruction treatment.

BA Deere
Honored Advisor

Re: Interesting piece on world oil/gas supply

i went to a meeting where this was all put in perspective, gasoline consumption is down while diesel is up a little.  Some of reasons being the smart phone, kids don`t like or even care to drive these days.  To shop, you point and click online and a diesel/natty gas truck delivers it to your doorstep. Also vehicles are getting better MPG, which kind of argues more for the need to raise the tax on fuel to repair roads.

r3020
Senior Advisor

Re: Interesting piece on world oil/gas supply


@hardnox604008 wrote:

Could be that Tom Swift's Perpetual Motion Machine is just aruond the corner.

 

But more about how markets really work, likely many small innovations in energy output and conservation driven by higher prices. And just flat out means driven conservation. Meanwhile, a great deal of investment based on perpetual cheap energy gets to the Creative Destruction treatment.


Big government's answer is to pour trillions into the perpetual motion machine. If the government finances it, it just has to work. It's for the children.