How soon will it be until the world reaches 'peak oil'?
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Yahoo! News ^
| January 31, 2023 | By David Knowles
Oil giant BP released a report Monday predicting that the world would sharply reduce its reliance on the company's signature product, oil and gas, over the next 25 years as countries hasten their transition to renewable sources of energy so as to combat climate change. Helping
spur the transition to renewables, the report says, are actions being taken by countries like the United States to rein in greenhouse gas emissions that 99.9% of scientists believe are responsible for rising temperatures. “Government support for the energy transition has increased in a number of countries, including the passing of the Inflation Reduction...
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Manhattan Contrarian Announces The Arrival Of "Peak Oil-Hysteria"
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Manhattan Contrarian ^
| 3 Nov, 2021 | Francis Menton
Do you remember the “peak oil” scare? That
was the claim, heard everywhere in the early 2000s, that nearly all the world’s discoverable oil had already been found, and we would shortly enter a time of inexorably declining production and rapidly escalating prices. This 2018 article in Forbes by Michael Lynch traces the “modern” version of the “peak oil” scare to a 1997 piece in the Oil & Gas Journal by a guy named Colin Campbell. Campbell argued that oil reserves were “rapidly depleting,” that there was “comparatively little left to find,” and that “the world's economic and political stability,...
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Never Mind Peak Oil, Global Forecaster Calls Peak Gasoline
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Rupert Murdoch's WSJ ^
| Happy St Patrick's Day, March 17, 2021 | David Hodari and William Boston
The IEA said daily gasoline demand dropped by a record 2.9 million barrels in 2020, down more than 10% from the previous year.The world's thirst for gasoline isn't likely to return to pre-pandemic levels, the International Energy Agency forecast, calling a peak for the fuel that has powered personal transportation for more
than a century.The Paris-based energy watchdog, in its closely followed five-year forecast, said an accelerating global shift toward electric vehicles, along with increasing fuel efficiency among gasoline-powered fleets, will more than outweigh demand growth from countries in the developing world.The forecast comes as auto makers have pivoted recently...
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Apocalypse kabuki: First, it was global warming. Then it was peak oil. Now, it's COVID
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American Thinker ^
| 09/06/2020 | By Yaacov ben Moshe
Let’s look beyond the hubris and hypocrisy for a moment. Nancy
Pelosi has made her attempt to put the SalonGate behind her. She says it was a setup, “…and that’s all I’m going to say about that.” So while there is very little in this world more pathetic than the spectacle of an eighty-year-old woman fulminating like a cornered gangster in a 1930s B-movie, there is something else, something of greater interest that I have realized thanks to this episode. It has connected in my mind with two other political oxymorons from recent years. You see, Nancy has been saying...
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North Dakota’s Crude Oil Production Could Peak Within 5 Years
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Oilprice.com ^
| 02-12-2020 | Para
Crude oil production in North Dakota could peak over the next five years as producers will have drilled up the core production areas and will have to move to less prolific corners of the oil patch, North Dakota’s Mineral Resources Director Lynn Helms told state lawmakers.
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Democrats Trot Out 'Peak Oil' Again, and Are Just as Wrong as Ever
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American Thinker ^
| 02/11/2020 | Jeffrey Folks
Just when we thought it was safe to assume a reliable supply of oil due to the miracle of fracking, liberals have come up with a new excuse to shift from fossil fuels to renewables.  They've discovered — as everyone invested in oil has known since before the early 2000s
— that fracked wells are frontloaded, producing their largest return in the first year or two after completion. The most productive fields at present are in the Permian Basin of West Texas.  So it's not surprising to find analysts bemoaning "peak Permian," as Julian Lee wrote in a Jan. 26 Bloomberg...
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World’s Top Commodity Trader Sees Peak Oil Demand Looming
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Oilprice.com ^
| 03-19-2019 | Para
The world’s largest independent commodity trader, Vitol, expects global oil demand to peak after 15 years, essentially putting the ‘peak oil demand’ date somewhere in the mid-2030s like other key players in the oil industry. “We
anticipate that oil demand will continue to grow for the next 15 years, even with a marked increase in the sales of electric vehicles, but that demand growth will begin to be impacted thereafter,” Vitol said in the outlook included in its 2018 trading volumes report.
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Peak Oil? Majors Aren’t Buying Into Threat from Renewables
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Reuters via gCaptain ^
| Nov. 9, 2017 | Ernest Scheyder and Ron Bousso
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No Peak Oil For America Or The World
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Forbes ^
| March 2, 2017 | By James Conca
Oil is more plentiful than you can imagine. And
we keep figuring out easier and more economical ways to get it out of the ground. In 1938, the famous geologist M. King Hubbert came up with the concept of peak oil, which is defined as having extracted half of the recoverable, conventional oil reserves. After that, oil production declines and cannot keep up with growing demand as the population continues to rise. In Hubbert’s time, most of the conventional oil reserves had already been discovered. Hubbert went on to predict that U.S. production would peak in 1969, and it did...
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Mathematical historian predicts political turmoil will peak in the 2020s (Trunc title)
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Daily Mail ^
| 1/5/17 | Abigail Beall
FULL TITLE: Is civilization heading for a COLLAPSE? Mathematical historian predicts political turmoil will peak in the 2020s A professor of Ecology and Mathematics from the University of Connecticut, Peter Turchin has led the development of a cross-disciplinary subject called 'cliodynamics'. 'Cliodynamics
is a new 'transdisciplinary discipline' that treats history as just another science,' Professor Turchin says. He started out using maths to predict human activity from 1500 B.C.E. to 1500 C.E. Then three years ago, using similar models, he began to forecast the future. 'My model indicated that social instability and political violence would peak in the 2020s,' he...
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A quick reminder on 'peak oil' (Another doomsday prediction that was proven wrong)
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am thinker ^
| 1/21/16 | h percy
The Wall Street Journal recently printed an excerpt from "The Next Oil Crisis Looms Large – and Perhaps Close," printed in the Aug. 28, 1998 issue of Science magazine. According
to a study from the International Energy Agency of the Organization for Economic Cooperation and Development, "sometime between 2010 and 2020 the gush of oil from wells around the world will peak at 80 million barrels per day, then begin a steady, inevitable decline." Well, not quite. According to the U.S. Energy Information Administration, in 1998, when the article was written, global oil production was 75.7 million bbl/day. In 2014...
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The retreat of ‘peak oil’
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nat review ^
| 6/14/15 | Robert J. Samuelson
The recent OPEC meeting provides an opportunity to understand the mysteries of the global oil market. As
expected, OPEC decided not to cut its oil production. Barring unanticipated developments, prices will drop, says oil analyst Larry Goldstein. Potential oil supply, including drawdowns from bloated inventories, exceeds demand. Goldstein rightly cautions, however, that no one knows where prices will settle. Oil’s dramatic price changes seem baffling. In mid-2014, crude prices averaged around $100 a barrel; now, they’re gyrating between $50 and $60. Over the same period, U.S. gasoline prices have dipped from more than $3.50 a gallon to around $2.50. With...
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Oil Hits 2015 Peak After First US Crude Drawdown Since January
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Reuters via Rig Zone ^
| May 06, 2015 | Barani Krishnan
Oil prices hit 2015 peaks on Wednesday amid the first drawdown in U.S. crude inventories since January, before settling off their highs as investors and traders moved to take profits on a multi-week rally. The
dollar's tumble had also fed the run-up in oil and other commodities, as those raw materials became more affordable for holders of the euro and other currencies. U.S. crude futures rallied more than $2 to the year's high of $62.58 a barrel, before settling just 53 cents higher at $60.93. Futures of North Sea Brent, the more widely-used benchmark, reached a 2015 peak of $69.63...
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New Technology has Destroyed the Myth of Peak Oil
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Townhall.com ^
| October 6, 2014 | Thomas Miller
The Wall Street Journal ran an article recently exploring why the Peak Oil Predictions had not come true. Written
by Russell Gold, the Journal’s senior energy reporter based in Austin, Texas, who himself released his first book called “The Boom: How Fracking Ignited the American Energy Revolution and Changed the World”, the article was an excellent walk through the ups and downs of the oil industry going back even to the late 1800’s. For example, did you know that John D. Rockefeller’s partner in Standard Oil, John Archbold, said, “I will drink every gallon (of oil) produced west of the...
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