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Peak Affordable Oil

February 3, 2015

…click on the above link to read the rest of the article…

It is quite obvious that high oil prices in the last 3-4 years

Fig 1: WTI spot prices to 23/1/2015

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=rwtc&f=w

have reduced demand for oil, as shown in this IEA graph for OECD countries:

Fig 2: Oil demand in OECD countries Oct 2011 – Sep 2014

https://www.iea.org/oilmarketreport/omrpublic/charts/

So which oil is affordable? Let’s use a graph of the Monetary Policy Report (January 2015) of the Bank of Canada (which would be favourable to Canadian tar sands)

 

Shale Oil – Crash Course Chapter 21 | Peak Prosperity

November 16, 2014

Shale Oil – Crash Course Chapter 21 | Peak Prosperity.

If you’ve watch the previous video chapter on Peak Cheap Oil, you may be wondering how any of that could be still be true given all the positive recent stories about shale oil and shale gas , many of which have proclaimed that “Peak Oil is dead”.

The mainstream press has faithfully repeated every press and PR statement made by the shale producers. And if you simply followed the headlines, you might even believe this about the US:

  • It is soon going to be energy independent,
  • Its oil production will surpass even Saudi Arabia putting it in the number one spot,and
  • The US will even be exporting oil again like the days of old.

The only problem with this story is that it is misleading in some very important ways. And entirely false in others.

Here are there are five main things to know about the shale plays.

…click on the above link to read the rest of the article…

Peak Cheap Oil – Crash Course Chapter 20 | Peak Prosperity

November 8, 2014

Peak Cheap Oil – Crash Course Chapter 20 | Peak Prosperity.

Energy is the lifeblood of any economy.  But when an economy is based on an exponential debt-based money system and that is based on exponentially increasing energy supplies, the supply of that energy therefore deserves our very highest attention.

But we need to be careful here because it’s a mistake to lump all types of energy together because they have very different uses in our economy and they are not interchangeable.

What we’re going to examine in this chapter on Peak Cheap Oil is transportation fuels.  The liquids we put in our trucks and cars and airplanes.  Why?

Because 95% of everything that moves from point A to point B across the globe does so based on petroleum derived liquid fuels.  This makes petroleum quite special and unique.

And despite vastly increasing the global spend on oil operations, despite the shale oil “miracle” so loudly touted by the press — global production remains nearly unchanged. In just a few short years, it’s now costing us double to extract roughly the same amount of oil out of the ground.

…click on the above link to read the rest of the article…

Olduvai IV: Courage
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