Category Archives: Oil

Getting Arctic oil and natural gas will take decades or more

Preface. Only one exploratory well can be drilled in the short arctic summers, and many more need to be drilled to even find and then explore the size of a potential oil field to see if it is worth extracting.  … Continue reading

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Many signs of peak oil and decline

Preface.  Recently the IEA 2018 World Energy Outlook predicted an oil crunch could happen as soon as 2023.  Oil supermajors are expected to have 10 years of reserve life or more, Shell is down to just 8 years. Political shortages … Continue reading

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Permafrost will limit natural gas, oil, and coal extraction

Preface. For many people, it’s comforting to know that about 25% of remaining oil and gas reserves (we have the know-how and economics to get it) and resources (beyond our technical and monetary capability) are in the arctic. They assume … Continue reading

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Global oil discoveries far from breaking even with consumption

Preface.  According to Bloomberg (2016), oil discoveries in 2015 were the lowest since 1947, with just 2.7 billion barrels of conventional oil found globally (though Rystad calculated this differently at 5.6, nearly twice as much). Since the world burns 36.5 … Continue reading

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Oil Choke Points vulnerable to war, chaos, terrorism, piracy

Preface. The U.S., thanks to fracking, which is likely to peak by 2025, produces half of the 20 million barrels of oil it uses per day. The other half of our oil is imported, with 45% of imports (4.5 million … Continue reading

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Vaclav Smil: from wood to coal to oil, energy transitions take a long time

Preface.  This post has a shortened, reworded, and heavily commented on article from Scientific American in 2014.  You can also see two much longer articles about energy transitions by Smil from n 2008 and 2010 here: Vaclav Smil: Our transition … Continue reading

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Robert Rapier: Oil demand is growing, not shrinking. There is no peak oil demand in sight.

[ Yes, this article was published 10 months ago, but with all the attention to fake news today, I thought it would be worthwhile pointing out that peak demand is propaganda, not based on facts. Since the goal of fake … Continue reading

Posted in Dependence on Oil, Electric Cars, Other Experts, Peak Oil, Transportation | Tagged , , | 3 Comments

Royal Society on peak oil and how much oil is left

[ This is a great introduction to the whole topic of oil, reserves, resources, and so on. It’s very long so I’ve only excerpted bits of it and reworded some of it.  I can’t say there’s anything new in here … Continue reading

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Steve St. Angelo: The global oil & gas industry is cannibalizing itself to stay alive

[ I heard Steve recently on a Peak prosperity podcast here.  I like St. Angelo because he is one of very few financial advisors who understand the role energy plays in the economy.  Though I don’t think that gold and … Continue reading

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Power density of biomass, wind, & solar take too much land to replace fossil fuels

Volumetric versus specific energy density for selected energy carriers. Source: Palmer, G. 2020. Energy storage & civilization: a systems approach. Springer. Preface. Vaclav Smil writes “The fact that wind, solar, and biomass have incredibly low energy density per square meter … Continue reading

Posted in Alternative Energy, Biomass, Coal, Hydropower, Natural Gas, Oil | Tagged , , , , , , , | 2 Comments