Oil Firms 'In Liquidation,' Says Simmons
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Do cars have to weigh 4000 pounds? You would think for an average price of $25,000, someone could build a four seater that weigs less than 1000 pounds that could do 70mph at 100mpg.
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$14 Billion to lift production by 100,000 barrels per day from tar sands.
The world is projected to loose somewhere around 20 million barrels per day over the next five years or so (see IEA).
So, what would the investment have to be? 2.8 trillion. That seem doable from an economics point of view. The practical realities might turn out considerably more difficult. The environmental implications will be immense. Gas consumption to transform tar sands into synthetic crude will also be immense.
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ya sure..we're gomnna listen to a CEO of shell who has vested interests in keeping the lid on Peak oil.
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People don't like Matt because they know he's telling the truth....and the truth hurts...
1 year ago 2
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"Unless we have a very severe meltdown in the global economy..."
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Precisely the kind of crap commonly heard at the top of a speculative blowoff. It's especially delightful to see so many "experts" proven dead wrong on this problem, one which affects the daily budgets of millions of Americans. I've gotten a $40 a week raise from these chimps.
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Yes! I just hope people don't turn on each other;If so we are all finished;Its time for the global elite to pay for their insane greed.
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DFORCE1969: Right on! Its time for the international, greedy freeloaders to break down. They are the real wasters of energy. Shifting boxes around the world, killing local economies and markets. The soil will be once again the property of the people living on it. Can't wait to see that happen.
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lol wut.
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Bye bye globalization;go fuck yourself corporate viruses!
DFORCE1969 3 years ago 7
"So how do we will see an oil shock?"
Ghawar (world no 1) is producing 40% water, Cantarell (no2) is in serious decline despite nitrogen injection. New Brazillian field is very deep and faces technical difficulties.
Ten years ago $10 bl, last year $60, now nearly $120. End of this year $180?
$4 gal is going to look very cheap very soon. You are watching peak oil unfold before your eyes.
776281 3 years ago 7