2019 Apr 9, 8:10am
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Less than 15 years ago, the conventional wisdom was that we’d reached “peak oil,” or that the U.S., and indeed the world at large, had already extracted more petroleum than what remained beneath the ground.Then, in unheralded fashion and quite silently, American frackers and horizontal drillers made such a term entirely obsolete. The U.S. went from a superpower hobbled by an insatiable need for imported oil to the largest producer of oil and natural gas in the world and, soon, the likely largest exporter of fossil fuels. In the same vein, the Middle East and especially the Persian Gulf transmogrified from being the nexus of American foreign policy to nearly irrelevant in U.S. strategic thinking. If Saudi Arabia was once accused of virtually running American foreign policy, it is now seen at the other extreme as a minor medieval bother. A few thousand people in obscurity in the fracking industry, without government grants and without the media fawning over them as they had green legends such as Al Gore, literally changed the lives of millions of Americans at home and their country’s status abroad.***Most obviously, technology has no limits, either on its ability to transform utterly modern life or the speed at which it accomplishes such changes. Once fracking was mastered, it became ever cheaper and ever more efficient at a geometrical rate — and operated independently, as scientific breakthroughs do, from political consensus and convention.
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In a finite world, debt, like anything else, cannot keep growing. This, gentlemen, is the real Peak Oil.
It took millions of years to create fossil fuel and at this rate we may have a few more HUNDREDs of years left of the stuff in the ground.
Who ever said that assumed it takes Millions of years at sea level atmospheric pressure. The pressures beneath the crust at the bottom of the Ocean are 1000's of atmospheric pressures.
pewed out into the bottom of the Ocean but never made it to the top and it isn't lingering on the sea bottom. Where in the fuck did it go? Nobody knows that answer.
Oil-consuming bacteria ate most of it, I believe
Peak Oil is the Leftist "Gold to $30,000/oz"
Germany is now facing billions upon billions to remove those ineffective Windmills they built.
Without massive subsidies and tax breaks, they are completely infeasible.
By mid-century, conservatives will thank the Global Warming alarmists for pushing renewable energies adoption so hard.
Except the early investments mean prices are collapsing.
Earlier this month, the U.S. Department of Energy (DOE) released the latest iteration of its annual Wind Technologies Market Report, which pulls together a wealth of data to track trends in the cost, performance, and growth of wind energy.
Ppl. I suspect that by the next century, we'll have highly efficient solar stations in space, able to harness the sun's energy and microwave it back to earth, supplying virtually unlimited power. As one can guess, there are no clouds in the magnetosphere.
Not sure what you mean.
But that wont solve our plastics, lubrications and composite needs. We will still need to refine just as much Oil as we do today, just to keep up with the essential Oil by Products demand.
"You know if people don't buy gas, they can't keep refining Oil. Because they'll run out of storage for the refined Petrol, and you can't just burn it!"
I am with you more than you realize, civilization has 100 or at most 200 years left before environmental annihilation.
Proven oil reserves keep going up and not down
In the meantime that nasty waste product that new technology will replace will just stockpile. What do you suppose we should do with billions of gallons of Petrol Gasoline a year. Dump it in the Ocean, Burn it or dump it in the ground?
The Carbon Fiber blades can't be incinerated and are incredibly toxic and carcinogenic
So true! There are several other products beyond gasoline and diesel from refining. Plastics, fertilizer etc... I've been wondering what happens if/when electric vehicles really takes off.
Gas planets have methane, but moon and rocky planets have more than trace carbon?
The bacteria are likely deriving a significant portion of their food from pollution that sinks from the ocean surface. But scientists also found evidence that some of the hydrocarbons are sourced from below.“To our surprise, we also identified biologically produced hydrocarbons in the ocean sediment at the bottom of the trench,” said UEA researcher Nikolai Pedentchouk. “This suggests that a unique microbial population is producing hydrocarbons in this environment.”In addition to providing sustenance, researchers suspect the hydrocarbons help microbes survive the crushing pressures of extreme ocean depths.
About what I've said about oil being replenished in real time, at the bottom of the Ocean. It's actually happening even faster than I suspected.
These eat hydrocarbons to make other hydrocarbons. Not the way how oil was produced in first place.
No but the basic elements are already there along with the hydrogen and carbon needed to produce crude. The truth is Oil is being renewed faster than we're being led to believe. Oil fields in Texas that were dried up by the 50's were back on line just 50 years later.
Proven oil reserves keep going up and not down.
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