I know some petrochemical engineers, analysts, and a tribologist. I asked them about exactly this. Their responses, to a one, is: the oil will not run out; it will just become too expensive to extract. Now, I’m just some jerkwad on the internet, and my anecdote is only that.
Yep. There’s a lot more oil than oil we could pull out at today’s prices with today’s technology. And then with competition from cheaper renewables you have the question of if prices can stay this high forever, or if demand will go down sharply while the supply remains.
The end result is still that you get a peak oil production at some point, though.
The gulf monarchies’ oil will dry up, and they will collapse under their own weight.
… Probably not. But hey, a man can dream…
They’re pushing massively into green energy. I think they are the next biggest investors after China if I remember correctly.
Upvoted for the only optimistic shit I’ve read so far
Too many western predictions :shrug: We’re already at rock bottom here, only positive news (incredibly rare)
I know some petrochemical engineers, analysts, and a tribologist. I asked them about exactly this. Their responses, to a one, is: the oil will not run out; it will just become too expensive to extract. Now, I’m just some jerkwad on the internet, and my anecdote is only that.
Yep. There’s a lot more oil than oil we could pull out at today’s prices with today’s technology. And then with competition from cheaper renewables you have the question of if prices can stay this high forever, or if demand will go down sharply while the supply remains.
The end result is still that you get a peak oil production at some point, though.