{"id":54982,"date":"2020-09-12T06:17:29","date_gmt":"2020-09-12T11:17:29","guid":{"rendered":"https:\/\/olduvai.ca\/?p=54982"},"modified":"2020-09-12T06:17:29","modified_gmt":"2020-09-12T11:17:29","slug":"the-end-of-oil-is-near-or-maybe-not","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=54982","title":{"rendered":"The End of Oil is Near, or Maybe Not"},"content":{"rendered":"<header class=\"post-image\">\n<div class=\"fimg-wrapper fimg-cl\">\n<div class=\"featured-image\">\n<div class=\"fimg-inner\">\n<div class=\"vm-wrapper\">\n<div class=\"vm-middle\">\n<h3 class=\"post-title\"><a href=\"https:\/\/www.resilience.org\/stories\/2020-09-11\/the-end-of-oil-is-near-or-maybe-not\/\">The End of Oil is Near, or Maybe Not<\/a><\/h3>\n<\/div>\n<\/div>\n<div class=\"backstretch\"><img decoding=\"async\" src=\"https:\/\/www.resilience.org\/wp-content\/uploads\/2018\/12\/1200px-West_Texas_Pumpjack.jpg\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n<section class=\"post-content\">The cover of the September\/October 2020 issue of Sierra magazine states \u201cThe End of Oil is Near\u201d.\u00a0 The corresponding story \u201cThe End of Oil?\u201d was paralleled with a recent segment on\u00a0<em>Democracy Now<\/em>.\u00a0 I think that is wishful thinking.\u00a0 To the extent that oil demand goes down in the future, it will go down because people can\u2019t afford oil distillates at the price producers need to produce the corresponding oil.<\/p>\n<p>The \u201cThe End of Oil?\u201d article describes weak oil demand in recent years although it should be stated that global oil consumption increased over 5 million barrels\/day from 2015 to 2019.\u00a0 A major factor for weak oil demand growth in recent years is the increasing level of inequality in the U.S. and world.\u00a0 There is an increasing population that can\u2019t afford to buy oil distillates, or the devices that use them.\u00a0 Oil distillates offer the ability to avoid manual physical effort which people tend to select when they can afford to.<\/p>\n<p>\u201cThe End of Oil?\u201d article emphasized the increase in global oil production in recent years.\u00a0 Most of that production increase was associated with unconventional oil resources such as shale oil in the U.S. and oil sands in Canada. \u00a0The problem with those unconventional oil resources is that they are considerably more expensive to produce compared to conventional oil.\u00a0 Conventional oil production is declining over much of the globe which has forced oil companies to move to unconventional resources.<\/p>\n<p>The author describes oil majors, like ExxonMobil and Chevron, as getting into the shale oil business in recent years.\u00a0 That is not a wise business decision but due to the lack of new conventional resources to exploit.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<p>&nbsp;<\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>The End of Oil is Near, or Maybe Not The cover of the September\/October 2020 issue of Sierra magazine states \u201cThe End of Oil is Near\u201d.\u00a0 The corresponding story \u201cThe End of Oil?\u201d was paralleled with a recent segment on\u00a0Democracy Now.\u00a0 I think that is wishful thinking.\u00a0 To the extent that oil demand goes down [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[5655,588,1729,589,595,3540,6665,19260,723,30286],"class_list":["post-54982","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-democracy-now","tag-oil","tag-oil-and-gas-industry","tag-oil-demand","tag-oil-production","tag-oilsands","tag-resilience-org","tag-roger-blanchard","tag-shale-oil","tag-sierra-magazine"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54982"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54982\/revisions"}],"predecessor-version":[{"id":54983,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/54982\/revisions\/54983"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}