{"id":62538,"date":"2022-04-26T08:23:56","date_gmt":"2022-04-26T13:23:56","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62538"},"modified":"2022-04-26T08:23:56","modified_gmt":"2022-04-26T13:23:56","slug":"despite-soaring-prices-the-oil-industry-stands-to-lose","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62538","title":{"rendered":"Despite Soaring Prices the Oil Industry Stands To Lose"},"content":{"rendered":"
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Despite Soaring Prices the Oil Industry Stands To Lose<\/a><\/h3>\n<\/div>\n
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The true cost of energy is not measured in dollars<\/strong><\/p>\n<\/div>\n

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Image source<\/a><\/figcaption><\/figure>\n

The days of Big Oil are numbered. Contrary to modern beliefs it is not going to be killed by the environmental movement, court decisions or conscious investment choices. There is a more hideous process in the background working against not only the most polluting business ever, but its modern adversaries as well. They just don\u2019t know it… yet.<\/em><\/p>\n

P<\/span>eople always had to spend energy in order to get more energy. They had to do the hard work on the fields \u2014 sometimes involving animal work \u2014 to grow food which then provided energy in return. This was not much different to any other business involving energy today: now, instead of pulling a plow, you have drill holes, install pipes and power up your pumps to get oil; or mine, smelt, manufacture, deliver then install solar panels and wind turbines to do the other hard jobs for you.<\/p>\n

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On thing remains certain: it always costs energy to get more energy, and just like in case of any other kind of investment, you have to earn (much) more than what you have invested before your equipment fails due to ageing.<\/p>\n<\/blockquote>\n

The problem, rarely recognized by many, is that this ratio of energy invested vs energy harvested is not fixed. At all. And no, it\u2019s not improving. Despite all technological advancements\u00a0it is getting worse with every passing year, with every new oil well drilled<\/a> and \u2014 as you will see it later \u2014 with every new solar panel or wind turbine installed. As the authors wrote:<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite Soaring Prices the Oil Industry Stands To Lose The true cost of energy is not measured in dollars Image source The days of Big Oil are numbered. Contrary to modern beliefs it is not going to be killed by the environmental movement, court decisions or conscious investment choices. There is a more hideous process […]<\/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":[2,3],"tags":[20355,209,18896,277,328,32578],"class_list":["post-62538","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-declining-marginal-utility","tag-diminishing-returns","tag-energy-return-on-energy-invested","tag-eroei","tag-fossil-fuels","tag-the-honest-sorcerer"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62538","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=62538"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62538\/revisions"}],"predecessor-version":[{"id":62539,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62538\/revisions\/62539"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}