by David Middleton, December 7, 2018 in WUWT
The “amazing” thing is that this isn’t a “new” oil discovery. It’s just a realization that a lot more oil and gas can be produced from these formations than was previously imagined.
The Permian Basin a nearly infinite resource. It seems as if there will always be more hydrocarbons to squeeze out of its numerous oil & gas reservoirs. From a Warmunist perspective the Bone Spring and Wolfcamp are much worse than previously thought…
by Andy May, July 7, 2018 in WUWT
The end of oil and gas has been predicted on a regular basis since 1885, yet today we use more of both than ever before and no end is in sight in the data available. Figure 1 shows worldwide energy consumption by fuel since 1965 and projected to 2035 by BP in billion tonnes of oil equivalent, it shows substantial growth in both oil and gas.
Figure 1. Worldwide energy consumption by type of fuel. Source: BP Energy Outlook 2017.
by Philippe Simonnot, 12 october 2017 in Le Causeur
Le prix du baril de pétrole, qui était de 1 dollar en 1972, est monté à près de 150 dollars en 2013, avec des projections qui le voyaient aller jusqu’à 300 dollars. Et le voilà retombé aujourd’hui aux alentours de 50 dollars. Pour expliquer une évolution aussi spectaculaire, il faut comprendre que le pétrole a été à un moment un prix politique, mais que la loi du marché a pris sa revanche
by Robert Rapier, August 15, 2017 in Forbes
That’s the peak oil argument in a nutshell, but the peak demand argument is entirely different. In this case, oil production falls — not because of geological factors — but because the world turns its back on oil as cleaner, cheaper options become available. Electric vehicles and ride-sharing on a massive scale are envisioned as two of the key factors that will make oil obsolete.