Forget about peak oil?
http://www.theatlantic.com/magazine/archive/2013/05/what-if-we-never-ru…
Looking for thoughts on this article.
Trending Content - Off Topic Forum
Career Resources
Who the fuck is going to read 6 pages of this shit?
Touche.
Cliffnotes OP?
tl;dr- environmentalists are freaking out b/c we might never run out of oil
Not sure if that's accurate, but I wasn't about to read 6 pages to find out.
TL;DR:
As we exploit more of what's easily extracted from the ground, eventually we will reach a break-even point where extraction is no longer economical. Thus there will always be some quantity of way-too-expensive-to-extract oil trapped in the ground. Hence, we will never actually run out of oil.
No. Shit.
Oddly, the reverse of this is also true and I witnessed it firsthand. In late 1998 and early 1999, the price of oil had dropped to such a ridiculously low amount (~$12 a barrel for light sweet crude) that producers stopped pulling it out of the ground because it cost roughly $12 a barrel to extract, ship, and refine it.
Pretty sure we'll never see that again, but I'm hopeful fossil fuels will become obsolete in my lifetime (what remains of it anyway).
Stop it, I would hate it if you went obsolete. Oh, fossil FUELS.
Oil is a "fossil FUEL"? aHHHHHHHHHHHHH!!!
-Kermit Bee (The Muppet Chimp) Oohh Ahh Ahh.
I'm curious as to how much fuel his body would produce, especially with all the alcohol in his system.
I'd take a shot in the dark and say roughly enough to fill my tank for the week.
I'm curious as to how much fuel his body would produce, especially with all the alcohol in his system.
I'd take a shot in the dark and say roughly enough to fill my tank for the week.
Good response. Yeah, I think we'll see a further drop in Gas Prices (recently we've seen a drop). I also think it's time to move to alternative energy sources. Pretty sure we're close.
The dynamic you're describing actually still happens all the time, particularly in the ethane markets (read: ethane rejection). Certinaly not to that extent though, since the liquid is already out of the ground; it just sits in storage terminals or isn't refined into ethylene, etc, since refiners would be doing so at a loss. Plant shut-ins due to uneconomical production dynamics are a commonplace thing in the NGL markets. Sry for the ramble if you already knew all this partner
Nope. Been out of it for so long I didn't realize, but it makes sense. Good info.
Touche, as well.
Hydrogen cars could be headed to showroom near you:: http://phys.org/news/2013-11-hydrogen-cars-showroom.html
Hydrogen looks to be the better alternative (as apposed to Electric). Tesla is still overvalued.
But who the fuck wants to drive a car that doesn't make noise, anyway? That's like bangin' a broad on silent.
Oohh Ahh Ahh
-Kermit (The Muppet Chimp)
Del
You just described every married guy's fantasy.
Hahh!!! My man's got a sense of humor.
Yeah, that's what kills me about it. Nothing badass about silently going 0 to 60, anti-american too.
Did any of you guys see the pics (I think yahoo fin or bloomberg) of the GT-R Nismo, I am in love with that thing.
This article, aside from being 6 pages long and a waste of my life to read it... is decent, but way too broad.
1) The whole first page is basically borrowed from the early chapters of "The Prize" by Daniel Yergin, anyone who wants to get into the oil game should pick this up along with "The Quest" his follow up. Not light reads, but will give you great background.
2) As a former Navy man, his insight into the Japanese attack on Pearl Harbor was bogus. The Dutch East Indies were the center of Royal Dutch empire, and though not devoid of US interest, certainly not the main focus. The US was still served by the children of standard. The Japanese had already begun their conquest into Manchuria, China, Singapore, French Indochina, etc. and we were still largely isolationist and certainly more focused on the war in Europe.
3) He misses what I personally beleive to be the most interesting issue at bar here. The laws against export of American Crude. Brought about by the challenges of the 70's it was largely irrelevant prior to fracking. The surplus of domestic production is going to change the whole dynamic of the next 15-20 years for the markets. This could/should be an economic windfall for refiners and a shift in power away from the exploration/upstream side of the business. As the surplus of domestic crude increases (Gulf Coast storage is currently near capacity, Refinery utilization rates near historical highs) downward pressure on WTI and LLS will lead to cheap input costs for the refiners that will sell the clean products at prices inline with implied demand/consumption and should remain relatively high, as there are no such rules against product exports.
4) The same technologcal innovation that has led to surplus crude could undo the industry, Tesla, reduction of urban sprawl and more
Great post. Funny you mentioned "The Prize" by Daniel Yergin... I just picked it up last night. Funny how some of these other Monkey's are too busy walking around with their heads up their butts rather than acknowledging the fact that there is a huge surplus of oil currently available which, as you stated, will "change the whole dynamic of the next 15-20 years for the markets". This is a very decent article even though it's a long read.
Oohh Ahh Ahh.
-Kermit
Omnis aspernatur accusantium dolore in perferendis voluptas quaerat. In tempore dignissimos et vel. Veniam totam expedita possimus nostrum.
Qui odio nesciunt atque vero alias. Consectetur natus temporibus tempora. Consequuntur ut in voluptatibus ut quo ut sed. Odio fugiat eum est sit inventore culpa. Qui eos laudantium aut beatae eum nam et. Tempore qui voluptates autem veniam consequatur et inventore quis. Magnam eos quaerat maiores est nesciunt autem consequatur.
Rerum quis sequi eius vel minus amet. Est omnis molestias aut voluptas provident dolore culpa. Commodi tempora provident quia. Magni rem temporibus voluptatem ut consequatur quia.
Et enim veniam rerum enim quo similique. Assumenda accusantium minus voluptas saepe corrupti est velit minima. Sed quis velit sunt necessitatibus doloremque odio dolorem id. Modi ut perferendis doloribus quasi quidem sit. Fugit nihil voluptatem earum enim. Vel tempore aut id sed.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Aspernatur quo culpa debitis omnis dolorum fugit temporibus. Qui debitis quidem iusto sed dolores voluptas. Veritatis quis ea molestiae minus omnis distinctio laboriosam omnis. Non quaerat iste earum soluta dolores. Sed dignissimos cum qui quis omnis sequi quaerat.
Quia numquam eum vitae non. Ut inventore incidunt et odit reprehenderit aut enim. Reprehenderit magnam deserunt id aut.
Sed atque quod vitae. Facere velit fuga unde eveniet dolorem. Dolor sunt aspernatur voluptatibus iste ullam nisi quidem. Et architecto sapiente vero magni laboriosam suscipit repellat.
Itaque in itaque repudiandae aut. Necessitatibus et unde vel commodi sunt et. Voluptatibus soluta et enim qui minima et nisi consequuntur. Est sed aspernatur animi quis et optio. Minus similique voluptatibus et laborum numquam iste nesciunt.