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Posted on 7/1/22 at 3:33 pm to Auburn1968
quote:
I've seen many peak oil deadlines go by.
True. I think it goes back to when kids were taught oil comes from rotting dinosaurs and eventually there won't be any more.
Oil is from carbon. Carbon has always existed. You and I are made of carbon.
Posted on 7/1/22 at 4:35 pm to Auburn1968
If SA has peaked (which seems to be what Macron was telling China Joe), the world is in big trouble.
I think the key in all of these estimates is flow rate. There is more gold dissolved in the world's oceans than in all of its mines. Go get it. Similar principle for oil. Potential oil in the ground doesn't mean much. How much you can extract at any one time is what's important. This is why I always thought the unconventional plays were not that important in the grand scheme of things. If they require a ton if investment and give you a nice bump for a decade, that helps for a bit. But, it's not going to run the global economy or interstate highway system in the long term.
I think the key in all of these estimates is flow rate. There is more gold dissolved in the world's oceans than in all of its mines. Go get it. Similar principle for oil. Potential oil in the ground doesn't mean much. How much you can extract at any one time is what's important. This is why I always thought the unconventional plays were not that important in the grand scheme of things. If they require a ton if investment and give you a nice bump for a decade, that helps for a bit. But, it's not going to run the global economy or interstate highway system in the long term.
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