Thread 513053404

What a surreal change of events from the peak peak-oil days of the mid 2000s. This has had major geopolitical effects too, rendering the Middle East much less important. The recent shit with Iran would have never happened without this because the risk to the global economy would have been too great.

Its being produced at a loss
The fracking industry takes on an unsustainable amount of debt to survive

>>513053535
No, it's not silly wog.

>>513053404 (OP)
number of oil rigs keeps going down

>>513053404 (OP)
chinks won sorry

>>513053867
And yet production keeps rising. Amazing how much more efficient fracking has gotten, isn't it roachbro?

>>513053404 (OP)
Peak-oil is a myth that only considers proven reserves that are economically viable to extract at a given price and technology level.

Off shore drilling, fracking, heavy oil processing, etc was all considered unconventional before, and those deposits were never factored into the "peak oil" hysteria.

Only a tiny fraction of the worlds sedimentary basins have been explored too.

>>513054052
it means they develop fewer and fewer rigs
it will all implode soon

>>513053404 (OP)
Why the fuck is all of Europe banning fracking out of environmental concern while the burger tribe just cracks the earth’s girthy holes ad nauseam?

>>513054256
Uh huh. 2 more weeks I'm sure. It's very funny how angry it has made you shitskins, same as this seether>>513054012

>>513054344
There is an American fracking company that recently started operations in Austria re-tapping old abandoned wells from the 1970s. Europe actually does have a decent amount of shale oil and gas, but ecofaggots are determined to keep it in the ground.

>>513054122
>Peak-oil is a myth that only considers proven reserves that are economically viable to extract at a given price and technology level.
100% correct. When you hear stories about "proven reserves fell"...that's always due to the price of oil going down.

>>513054689
>Uh huh. 2 more weeks I'm sure. It's very funny how angry it has made you
now, Im a shitskin for posting facts?
fewer and fewer rigs are developed
you seem to be the one that is angered by that

>>513055062
>fewer and fewer rigs are developed
So? The point is that less rigs are needed because the length of wells have skyrocketed. One well can now cover the same area that it used to take a dozen to cover. Hence the fact that production keeps rising even though rig count keeps decreasing. The correlation between production and rig count has broken down.

>>513054689
>Europe actually does have a decent amount of shale oil and gas
I live in Qatar on the North sea, another name for resource curse is Dutch disease. I know what Europe has, it’s just that we are like the citizen that keeps paying for public transport while the rest of the niggers pee on the seats.

>>513055533
Yeah I know about Groningen and how it got shut down because of little earthquakes.

>>513055207
maybe
but its also due to oil prices being too low
its only profitable above a certain oil price

this is from today:

>US shale producers are idling drilling rigs and holding back spending as they shelter from an Opec-induced price slump that is likely to send American output sharply lower.

>The number of crews fracking shale oil and gas wells — a crucial barometer of the industry’s activity levels — hit a four-year low last week and producers have wiped about $1.8bn from capital spending plans over just two quarters.

>This week the federal Energy Information Administration predicted that US oil output would fall next year, as crude prices drop to just $47.77 a barrel, almost $20 below shale drillers’ break-even price.

>Shale executives told the Financial Times they were in a new “price war” with Saudi Arabia, Russia and other Opec members — and it would imperil President Donald Trump’s call for America to pump more crude.

>“What the administration doesn’t quite understand is that we’ve gone from drill, baby, drill to wait, baby, wait,” Kirk Edwards, chief executive of Latigo Petroleum in Odessa, Texas, said in an interview.

https://www.ft.com/content/e3bc8d6b-0b07-4416-bbe1-52704ae0e07b

>>513056136
Groningen is weird. People there find talk about getting the gas out as bad as would be screaming kill nigger dogs in the Yale boardroom.

>>513054770
Because that reserve becomes a resource. It’s all semantic word games.

>>513054770
Exactly, and when prices go up past a certain threshold, suddenly oil sands are back on the menu and reserves 10x overnight without any new discoveries being made.

It still is a finite strategic resource and shouldn't be squandered needlessly if more sustainable alternatives are viable.

Green party types poison their own well by being so retarded and political about it. It's only China that finally made me come around to green energy, and they're not doing it to "save the planet" but for strategic reasons so their economy won't implode if there's an oil embargo. Reduced pollution and CO2 emissions was a pleasant side effect of pragmatism.

>>513056306
Thank you ChatGPT>>513056705
>It's only China that finally made me come around to green energy
It's a scam there too. They need somewhere to dump their overproduction of PVs.

>>513056900
>Thank you ChatGPT
what?
I quoted the financial times from today >>513056306

I still remember all the excuses leftoids made for bribem when he fucked our economy right before their eyes and mine.
I just want all of you assholes to know, you know who you are, that I hate you and I wish you all the most painful and miserable death you can imagine.
You brought our nation to the brink of complete disaster and you have the gall to deny you did or to pretend like you've changed.
Fuck you and your entire lineage.

>>513053535
Your parents reproduced at a loss.

>>513053535
fpbp

>>513054256
>knows absolutely nothing about America's oil sector
>still smugly pretends like he isn't a complete fucking retard
Kill yourself, kraut.

>>513053404 (OP)
>Production increases continuously
>Prices don't go down

Hmmmmmmmm

But I was told 2000s was peak oil and we must buy electric cars because gas will go up to 10 times the price.

>>513057159
Almost like oil is a globally traded liquid commodity or something...

>>513057125
>>513056306
everything i said was correct
stupid fuck

>>513057309
No it isn't, stupid fuck. You know nothing. I bet you sit on your fat ass all day and draw a check because of some fake retardation you shamelessly claim to have. Now you have all the time in the world to post nonsense online.
Kill yourself, germ.

>>513053404 (OP)
>What a surreal change of
What, retard?
The benefits TO YOU, are nothing.
ZERO.
Production will always be throttled to maintain a certain Market price range, and thus profit margin.

Te only beneficiaries are the Producer, its Shareholders and employees.

There is no "Domestic Only" market or "Discount" for Americans.
>USA! USA! USA!
No.

I seriously want to strangle all those fuckers who argued and shilled online for "muh peak oil" during that time. Absolute worthless skinsacks spreading disinfo and bullshit.

>>513057309
No, it wasn't ChatGPT.

>>513056900
>It's a scam there too. They need somewhere to dump their overproduction of PVs.
It's a scam here in Canada when people are pushing for imported solar in places that are buried with snow and have short days for half the year.
It's perfectly sensible for desert environments that don't even have water reservoirs needed to operate nuclear power plants, and when the panels are domestically produced.

>>513057375
Does that same principle apply to the plantains you pick?

>>513057355
>>513057399
stupid niggers know nothing about their own oil industry
that is about to go bust

>>513054344
Because we ban everything due to environmental reasons...

>>513057401
The intermittency problem with solar remains, which requires fossil fuel backup plants that are idle half the time. It saves on fuel costs, but you still have to build a lot of thermal power plants that sit idle for much of the time.

>>513056570
This. Reserve vs resource isn't even a word game, it's legit classification of deposits based on economic viability, people just don't understand basics.

>>513057482
>that is about to go bust
I know, 2 more weeks. You said so several times now and just keep getting more and more angry.

>>513057457
No.
A certain percentage of food production is reserved for domestic consumption.

>>513057629
But if the price of the plantains you pick drops to the point that it becomes economically unprofitable to pick them, what happens then?

>>513057599
>US shale producers are idling drilling rigs and holding back spending as they shelter from an Opec-induced price slump that is likely to send American output sharply lower.

>The number of crews fracking shale oil and gas wells — a crucial barometer of the industry’s activity levels — hit a four-year low last week and producers have wiped about $1.8bn from capital spending plans over just two quarters.

>This week the federal Energy Information Administration predicted that US oil output would fall next year, as crude prices drop to just $47.77 a barrel, almost $20 below shale drillers’ break-even price.

>Shale executives told the Financial Times they were in a new “price war” with Saudi Arabia, Russia and other Opec members — and it would imperil President Donald Trump’s call for America to pump more crude.

>“What the administration doesn’t quite understand is that we’ve gone from drill, baby, drill to wait, baby, wait,” Kirk Edwards, chief executive of Latigo Petroleum in Odessa, Texas, said in an interview.

https://www.ft.com/content/e3bc8d6b-0b07-4416-bbe1-52704ae0e07b

>>513057683
Thank you again ChatGPT

>>513057546
For sure, backup is still necessary. Do you happen to know much about energy storage solutions? I don't follow it closely enough, but I wonder if things like potential/kinetic energy storage (eg using excess daytime production to lift big weights that will spin turbines as they descend at night) and sodium-ion battery technology can bridge the gap.

They also do interesting things like using the shade from massive solar farms to facilitate terraforming deserts. Growing grasses under them that would otherwise wilt under the intense sun, then grazing animals to fertilize the barren earth.

Here its just 100% scam, with grifters wanting to get rich off government contracts to import chinese solar panels to places where it doesn't make sense.

>>513057394
Peak oil theory is from like the 1960's and refuses to die in spite being proven wrong at every turn. People will still be wringing their hands about it 100 years from now.

>>513058484
>Do you happen to know much about energy storage solutions?
They usually cost even more than a backup peaker plant. This is the main problem with intermittent renewables: they're much more expensive than traditional sources. You don't just need to build the renewable stuff, but the backup stuff too.

>>513058036
thats the Financial Times from today

>>513055207
>>513055062
>>513054256
Directional horizontal drilling + fracking makes an individual rig far more efficient. Instead of the bore hole intersecting the productive strata just once, it can tap into vast stretches of the porous, oil bearing rock.

>>513059327
>>513057683
read the thread please

>>513059327
This is correct and was what I was referring to. And the "German" is seething lmao.

>>513059066
I thought so. Coal/gas fired plants aren't that expensive to make.
Given the horrendous air pollution China used to have when it was all coal powered, and the economic and strategic benefits of having a massive, cutting-edge PV industry, it's hard to fault their policy. Unlike western green energy projects that all seem to be money laundering schemes that just make electricity more expensive and less reliable.

>>513059872
The German is a seething, coping loser. I can't think of a more pathetic country when it comes to energy policy than Germany.
>shuts down nuclear to go grean
>get high energy costs and brown outs that stifle industry
>suckle from the tit of cheap russian gas to survive
>get cock blocked by American suzerain
>what's left of industry is killed off for good
In spite what an utter failure their policy has been, the Green party still got 40% more votes than the AfD lol

>>513059404
You're the one who should read the thread and educate yourself.

>>513060358
I don't think he's actually a German. Germany did completely fuck themselves over with their energy policy harder than almost any country on earth though for sure.

>>513060691
He's probably a crayon eating grunt on a US military base that's banking on getting PTSD from washing Humvee's so he can be a welfare queen vet for the rest of his life.

Dude read a financial times article though, so he's an expert now.

>>513053535
>>513054052
didn't the US ban fracking

>>513060925
No, it did not.

>>513060925
No, why would they? It's a technological game changer that massively increases productivity.