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brenthutch

So much for ‘Peak Oil’

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https://www.masterresource.org/developing-countries-climate-change/guyana-suriname-oil-bonanza/
“Equatorial Guyana and Suriname—situated side-by-side and bounded by the equator and Atlantic Ocean — have combined oil reserves estimated to be 17 billion barrels of oil equivalent. Together this represents the world’s largest oil discovery in the last two decades. Some call it the “the most promising oil discovery hotspot on earth.” Others say it is “the most exciting oil frontier on earth.” In addition, there are gas reserves of more than 30 trillion cubic feet.”

Some drilling platforms a LNG terminal or two and the EU might not have to freeze this winter. But we are too late for that now.

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1 hour ago, SkyDekker said:

First oil find in Guyana was I believe in 2015.

These were new discoveries.  
“Exxon has made two more discoveries offshore Guyana, the supermajor said this week, bringing the total discoveries made in the country to 25.”

https://oilprice.com/Latest-Energy-News/World-News/Exxon-Strikes-Oil-Again-In-Guyana.html

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That’s not the only one

“Massive oil and gas reserves recently discovered off the coast of Namibia have generated much excitement throughout the petroleum industry—as well as in Namibia itself, where it is hoped that revenues could provide a major shot in the arm for its sluggish economy…Another industry expert put it in no uncertain terms: “It’s between 1.5 billion and 2 billion barrels of light oil. That is an absolute monster.”

https://internationalbanker.com/finance/can-recent-oil-discoveries-prove-to-be-a-boon-for-namibia/

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23 minutes ago, brenthutch said:

These were new discoveries.  
“Exxon has made two more discoveries offshore Guyana, the supermajor said this week, bringing the total discoveries made in the country to 25.”

https://oilprice.com/Latest-Energy-News/World-News/Exxon-Strikes-Oil-Again-In-Guyana.html

Yes when they find oil, they generally go looking for more in that area.

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50 minutes ago, brenthutch said:

So do you agree with me that we are not at ‘peak oil’ ?

"Peak Oil" can only be established after the fact.

Discovering new oil reserves could or could not have anything to do with Peak Oil since it is defined by extraction of oil. Hence this discovery cannot really be used to decide if it will have any impact on whether we are at Peak Oil or not.

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50 minutes ago, brenthutch said:

So do you agree with me that we are not at ‘peak oil’ ?

What's definitely clear is that the easy stuff's already been gotten.  If that wasn't the case, they would't be looking to drill through the ocean floor off of Africa.

What's the point you're trying to make?  We're not out of oil yet so there's nothing to worry about?  Plenty of oil reserves in the stable, American bastion of Namibia so Teslas as still stupid?

This strikes me as being along the lines of what I see every day in posts/talking points that create a false choice that you're either 'drill-baby-drill, fuck all renewables and those lefty cucks'  or 'you hate everything that petroleum products have ever made and you want to steal food from the mouths of the children of oilfield workers and ban gasoline vehicles yesterday'.  How deep down the Fox rabbit hole does somebody have to be before they simplify things that fucking much?

Aside from a brief, 3 month stint in another industry before I got called back with an offer I couldn't refuse, I've been in oil and gas for the past 20 years and I may well be in for another 20.  Oil is hugely important right now and that's not going to change tomorrow, but whether we're at peak oil now, in 10 years, 50 years or 10 years ago doesn't change the fact that it's a FINITE RESOURCE and we'd best not wait until we're almost out to start figuring out how to live without it, or at least with much less of it. Starting now (or decades ago as people have) with imperfect solutions is the only way to get to a point where we can transition to a live without oil that's not the doomsday scenario that the 'peak oil' scaremongers were predicting 20 years ago.

Even if you're willfully ignorant of the effects of climate change, the above should be reason enough to at least concede that renewables aren't some lefty pipe dream... 

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3 minutes ago, lippy said:

Even if you're willfully ignorant of the effects of climate change, 

I am well aware of the effects of climate change.  99% reduction in the number of climate related deaths, record food production, growing polar bear population…why are you afraid of change, especially since it is for the better?

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7 minutes ago, brenthutch said:

I am well aware of the effects of climate change.  99% reduction in the number of climate related deaths, record food production, growing polar bear population…why are you afraid of change, especially since it is for the better?

Many people here smarter than I have spent a lot of time trying to correct your willful ignorance of the realities of climate change...I know you're a lost cause and I'm not going down that road.  

Do you think there's enough oil to keep humanity going at its current pace forever?  Or do you just not care as you'll likely be gone before, as they say, the SHTF?

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1 minute ago, lippy said:

Do you think there's enough oil to keep humanity going at its current pace forever?  Or do you just not care as you'll likely be gone before, as they say, the SHTF?

No, when and if oil becomes more scarce we will transition to alternative forms of energy.  Just as we did during the transition from wood to coal, coal to oil, oil to natural gas, (and as things are going, back to coal).  We never needed a government program to facilitate the transition from candles to whale oil to kerosene to electricity. Take a deep breath and let simple economics lead the way.

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7 minutes ago, brenthutch said:

No, when and if oil becomes more scarce we will transition to alternative forms of energy.  Just as we did during the transition from wood to coal, coal to oil, oil to natural gas, (and as things are going, back to coal).  We never needed a government program to facilitate the transition from candles to whale oil to kerosene to electricity. Take a deep breath and let simple economics lead the way.

As usual you are wrong.

https://www.pbs.org/newshour/economy/this-post-is-hopelessly-long-w

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1 hour ago, lippy said:

Do you think there's enough oil to keep humanity going at its current pace forever?

Most right wingers believe we will annihilate ourselves or the lord will end the world soon. Or both. So keep the party going as long as they can. They may be correct.

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(edited)
1 hour ago, SkyDekker said:

Just because the market was influenced by outside molestations doesn’t mean the market did not win out in the long run

“it did not suddenly emerge to light up a world quickly going dark as the supply of whales ran out.” 

That makes my point.  Nothing happened “suddenly” market forces, over time, slowly supplanted other forms of illumination.  

Edited by brenthutch

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2 hours ago, brenthutch said:

We never needed a government program to facilitate the transition from candles to whale oil to kerosene to electricity.

You've never heard of the Rural Electrification Program?  Without that, farms would still have Jacobs windmills and 30 volt nickel-iron batteries - and appliances that worked at that voltage.  Sears sold them.

The government got involved because they thought that making more power available to farms would promote the general welfare of the United States.  Like solar, wind, EV's and grid scale storage.

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16 minutes ago, billvon said:

You've never heard of the Rural Electrification Program?  Without that, farms would still have Jacobs windmills and 30 volt nickel-iron batteries - and appliances that worked at that voltage.  Sears sold them.

The government got involved because they thought that making more power available to farms would promote the general welfare of the United States.  Like solar, wind, EV's and grid scale storage.

Yeah, that was the same government that did the New Deal. Rs are still trying to undo it.

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8 hours ago, billvon said:

You've never heard of the Rural Electrification Program?  Without that, farms would still have Jacobs windmills and 30 volt nickel-iron batteries - and appliances that worked at that voltage.  Sears sold them...

and "The Federal Aid Highway Act of 1956, also known as the National Interstate and Defense Highways Act, Pub.L. 84–627 was enacted on June 29, 1956, when President Dwight D. Eisenhower signed the bill into law. With an original authorization of $25 billion for the construction of 41,000 miles (66,000 km) of the Interstate Highway System over a 10-year period, it was the largest public works project in American history through that time"

Brent likes to be convenient when he "forgets" anything that the government does. Like sign his pension cheques every two weeks. That why trump's latest promise when he is re-elected rings so many bells. Trump lays out plan to fire civil servants and replace them with loyalists

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(edited)

Peak oil? Brent forgets that Iranian oil is off international markets due to embargo. That Libyan oil is off the markets due to civil war. Venezuelan oil is off the markets due to corruption and under-investment.Iraqi oil only at partial capacity. Russian oil temporarily/partially embargoed.

If all these players were in the markets at full capacity. Oil would likely be $25 a bbl.

Oh! and US oil producers would be wining and dining republican senators for more subsidies.

Here is the latest GOP conspiracy theory/joke.

"Nancy Pelosi wants to go to Taiwan to check on her investments.Joe Biden doesn't want her to go because Hunter Biden has Chinese investments."

Edited by Phil1111

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13 hours ago, lippy said:

...  How deep down the Fox rabbit hole does somebody have to be before they simplify things that fucking much?

 

I think you have it backwards.

Fox has gained so much popularity because they pander to those who need everything simple.

You know, the 'sheep' who need to be led by simple, three or four word phrases and slogans.

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9 minutes ago, wolfriverjoe said:

I think you have it backwards.

Fox has gained so much popularity because they pander to those who need everything simple.

You know, the 'sheep' who need to be led by simple, three or four word phrases and slogans.

You have to admit they have a successful operation. Every election cycle where republicans are in power. Taxes are reduced. The rich get richer and the poor poorer. Deficits increase, programs get cut and blame get stuck to democrats.Labeling democrats as elitist.

Having a national propaganda media network like FOX. Has created more billionaires in America than any other program or political system. Democrats just refuse to recognize whats successful. CNN needs to throw out the ideas that news needs any basis in fact.

Between 2014 and 2018 the richest 25 Americans paid a net tax rate of 3.4%. While their net worth went up $385 billion. Yet republicans have branded themselves as the party of the poor working stiff.

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1 minute ago, Phil1111 said:

You have to admit they have a successful operation. Every election cycle where republicans are in power. Taxes are reduced. The rich get richer and the poor poorer. Deficits increase, programs get cut and blame get stuck to democrats.Labeling democrats as elitist.

Having a national propaganda media network like FOX. Has created more billionaires in America than any other program or political system. Democrats just refuse to recognize whats successful. CNN needs to throw out the ideas that news needs any basis in fact.

Between 2014 and 2018 the richest 25 Americans paid a net tax rate of 3.4%. While their net worth went up $385 billion. Yet republicans have branded themselves as the party of the poor working stiff.

Absolutely.

There's the US Senator from Wisconsin, Ron Johnson.

He's up for election this year and is currently running ads touting how much he opposed Biden's 'liberal spending', and completely ignoring the fact that he supported Trump's tax cuts for the rich.

You know, because 'deficit spending' is bad, while reducing the government income tremendously is good...
For the rich.
Like him.

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1 hour ago, Phil1111 said:

Between 2014 and 2018 the richest 25 Americans paid a net tax rate of 3.4%. While their net worth went up $385 billion. Yet republicans have branded themselves as the party of the poor working stiff.

And it has accelerated massively since then.

But if tax rates go up their companies won’t be able to afford to supply so many jobs. And if the wages or benefits they pay go up then everything will get even worse because there simply isn’t enough spare profit in the system to absorb any costs. 
 

Right.

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47 minutes ago, jakee said:

... And if the wages or benefits they pay go up then everything will get even worse because there simply isn’t enough spare profit in the system to absorb any costs.

Don't forget about inflation!  All those greedy proletariats thinking they should get a share of the wealth their labor is generating!  That can only drive up costs!  Next thing you know they'll be demanding things like health insurance and sick leave, and that will just cut into the hard-earned dividends the hard working investors are entitled to.

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It's worth remembering that oil is the starting material for a lot of products other than fuel.  It might not be so easy to turn wind or geothermal energy etc into plastics or pharmaceuticals or the other myriad things that are made from oil.  Perhaps it might not be wise to just burn it all and figure out what to do to replace it later.

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4 hours ago, Phil1111 said:

"Nancy Pelosi wants to go to Taiwan to check on her investments.Joe Biden doesn't want her to go because Hunter Biden has Chinese investments."

That's downright criminal!

Now, Ivanka Trump selling Chinese shoes via the White House?  Well, that's just good business.

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