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Message
re: Saudi Aramco made $112 Billion...... in profit last year.
Posted on 4/7/19 at 8:11 pm to tigerinthebueche
Posted on 4/7/19 at 8:11 pm to tigerinthebueche
Right. It would be a monumental world history event to switch the dependence. It would be like when electricity was mass produced and distributed to homes. And they talk about it as though it's like the next big thing Apple is going to come out with in a decade or so.
And then, what do we do about plastic? Think about how much we use that contains plastic.
And then, what do we do about plastic? Think about how much we use that contains plastic.
0
Posted on 4/7/19 at 8:26 pm to SouthTexasSaint13
quote:
They are buying either full stake or large stake in SABIC. SABIC is already starting multiple joint ventures with Exxon Mobil. So technically, they are already in the US game.
They already own 70% in SABIC.
Posted on 4/7/19 at 8:28 pm to Obtuse1
quote:
there will be a day without accessible oil.
“Peak oil”, from a supply standpoint, is a myth that’s been around for 50+ years. Pretty much everybody in the industry has accepted the fact that when peak oil does occur it will be due to low demand (e.g. phaseout of fossil fuels as our primary energy source) rather than low supply.
The myth is largely caused by the fact that when we look at oil reserves, we have historically quantified them in terms of accessible reserves using today’s technology. As long as demand for oil stays high, we will continue to find new ways to find and extract it.
Most folks in the industry believe the progression will be:
1. Natural gas becomes our primary source of energy as advances in battery technology and infrastructure eventually allow electric cars to become the norm.
2. Existing renewables (solar, wind) continue to gain more market share, mostly offsetting the use of coal.
3. Either solar and wind eventually take over, or some yet-to-be-discovered source of energy (think nuclear fusion) disrupts everything.
But all of this could take generations, and you will still see coal and oil as primary energy sources for developing nations for a long time.
Posted on 4/7/19 at 8:29 pm to Martini
quote:
They already own 70% in SABIC.
quote:
Martini
Wrong again as usual
Posted on 4/7/19 at 8:38 pm to lostinbr
quote:
As long as demand for oil stays high, we will continue to find new ways to find and extract it.
Exactly. And if it ever got to where supplies were drying up, we still have a shitton of oil off our west coast, in Alaska, and probably other areas that we can drill.
Posted on 4/7/19 at 8:39 pm to lostinbr
quote:
1. Natural gas becomes our primary source of energy as advances in battery technology and infrastructure eventually allow electric cars to become the norm.
2. Existing renewables (solar, wind) continue to gain more market share, mostly offsetting the use of coal.
3. Either solar and wind eventually take over, or some yet-to-be-discovered source of energy (think nuclear fusion) disrupts everything.
1. Coal is not being replaced by solar and wind, its being replaced by.....natural gas...
2. Solar and wind will NEVER be the majority, ever.
You're giving solar and wind way too much credit.
If someone could solve intermittency that would help but theres still a great deal of other issues.
Posted on 4/7/19 at 9:00 pm to tiggerthetooth
quote:
1. Coal is not being replaced by solar and wind, its being replaced by.....natural gas...
What I meant was that as solar and wind pick up more market share, it will likely be at the expense of coal and not at the expense of natural gas.
quote:
2. Solar and wind will NEVER be the majority, ever.
Never say never.
Dyson Sphere
But yes, I personally think (hope?) it’s more likely we figure out how to sustain a fusion reaction.
Posted on 4/7/19 at 9:06 pm to tgrbaitn08
RIYADH - Saudi Aramco’s announcement that it was acquiring a majority stake in petrochemical giant Saudi Basic Industries Corporation from the kingdom’s sovereign wealth fund is seemingly moving the Saudi state oil and gas conglomerate closer to its much-anticipated initial public offering.
Shortly after Saudi Aramco said on March 27 that it would pay $69.1 billion to the Public Investment Fund (PIF) for a 70% stake in the Saudi Basic Industries Corporation (SABIC) reports stated that Saudi Aramco was deemed the most profitable company in the world in 2018.
frick off douchebag
Shortly after Saudi Aramco said on March 27 that it would pay $69.1 billion to the Public Investment Fund (PIF) for a 70% stake in the Saudi Basic Industries Corporation (SABIC) reports stated that Saudi Aramco was deemed the most profitable company in the world in 2018.
frick off douchebag
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