Just wait till the oil starts to run out soon> Everyone will be shooting like Mr Vegas!
Oil Shortage coming soon
Kayden Ross
Other urls found in this thread:
wsj.com
wsj.com
permaculture.org.au
foxbusiness.com
bloomberg.com
research.hsbc.com
nasa.gov
cnbc.com
forbes.com
electrek.co
youtube.com
twitter.com
Jack Nelson
These are discoveries and not the amount of reserves
Besides, the arctic is melting and they'll probably find oil there just as it has a shitton of gas
Evan Jackson
Nah, not in our lifetime.
Read about abiogenic petroleum
Oliver Wilson
You have to discover oil before you can pump it.
William Parker
So?
That's just showing we are smarter in using it now and preparing for a time when there's no oil readily available.
The sooner we stop using oil the sooner we can stop the war in syria.
James Nguyen
These are conventional sources. Tight oil is everywhere. You just gotta have the capital and technical expertise to tap it.
Charles Rivera
IEA Chief warns of world oil shortages by 2020 as discoveries fall to record lows
wsj.com
Saudi Arabia’s Energy Minister Warns of World Oil Shortages Ahead
wsj.com
German Government (leaked) Peak Oil study concludes: oil is used directly or indirectly in the production of 90% of all manufactured products, so a shortage of oil would collapse the world economy & world governments
Liam Phillips
Saudi Aramco CEO believes oil shortage coming despite U.S. shale boom
CITI CEO warns of oil shortages coming as soon as 2018
HSBC Global Bank warns 80% of the worlds conventional fields are declining and world oil shortages ahead
Brandon Cooper
WRONG
Uhm, sweetie, according to NASA the polar ice caps have actually GROWN
nasa.gov
Chase Sanders
Chevron CEO warns US shale oil alone cannot meet the world's growing demand for crude
cnbc.com
Isaac Jenkins
We're decades away from where we need to be on an electric based infastructure system (Electric Freight, non diesel tankers, Fusion energy and renewable energy, etc) and I don't know if we'll reach it in time before Oil starts getting back to the rates it was at before fracking took off.
Literally everything is gonna get mad fucking expensive soon, buckle up.
Mason Moore
depends on the chinks, this is entirely beyond the white race now that the industry and wealth creation has been massively outsourced. lifitng over 400 MILLION insectoids out of poverty and into the middle class.
Ayden Jenkins
As soon as oil hits 100USD/barrel it becomes viable to extract oil from sand and shale. We have enough oil to fuck over the earth four times from this source.
So OPEC have incentive to sell their oil cheap for as long as possible. It also stops electric cars from become popular.
we won't see anything for another 20 years until the middle east runs dry, then western countries will become more self sufficient.
Jonathan Gomez
Abiogenesis has nothing to do with oil reserves. Even if oil is formed abiogenetically, the process is too slow to replenish what is taken out in reasonable time.
>Conventional
Here's your problem. Most new discoveries are unconventional (tight/shale/etc).
John Hughes
Time to invest in tesla
Easton Wright
So ((they)) need to get rid of our guns by 2020
Evan Edwards
>electric cars
Oil has to be around $300 or higher a barrel for electric cars to produce any net savings on fuel. That is, if you don't count the subsidies your government might be giving. Anyway, hardly a concern, despite all the fuss.
>we won't see anything
We should see developed countries banning shale because of the pressure from eco-fanatics. This should allow OPEC (and us) to raise the price back to where it was regardless of other conditions and keep selling with higher returns for longer time (as demand should decline under higher prices).
>20 years
Very likely longer, much longer. The western media pushes the oil peak narrative only because of the greens.
Dominic Edwards
>conventional oil
So they've found the easy stuff and now they're finding harder stuff
Michael Rivera
now they're fiending for the scraps is more like it
Cameron Rogers
Honestly thats probably the time where solar/wind will finally take off and it wont even be a big deal
Daniel Nelson
We already ran out of oil in the 70s. We also ran out of food in the 80s.
Parker Edwards
There will never be an abundance of oil reserves. (((They))) just throw that propaganda out there in order to raise the prices on oil.
Owen Collins
Windmills don't move food across countries
Jace Cruz
There's way more unconventional resources than there is conventional.
Aaron Kelly
but muh electric vehicles
Andrew Rivera
>prices for oil drop drastically
>so much that OPEC has to intervene to cut production
>oil companies care less for exploring new oil deposits
>HUUR THERE'S NO MORE OIL!
Retard
Julian Murphy
IIRC, the FIRST prediction of “we will run out of oil” was around 1914.
Eli Roberts
We can make it in a lab, just like water. It's just easier to pay a brown person to dig it up for now, but it doesn't matter since it's abiotic.
Noah Martin
We won't have another oil shortage for at least another 15 years. North Dakota still has plenty of oil they just have it capped off because OPEC is willing to sell their oil for super cheap making it not worth selling right now. If OPEC starts running lower on oil those reserves will come into play and then if they start to run low then we will finally have our crisis.
Nicholas Fisher
but most REASONABLE predictions haven't been proven wrong yet!
Aiden Bailey
Dude, there's no lack of oil in the ground for the next generations. The big problem is that oil companies have not found enough oil that is economic, aka it makes financial sense and energetic sense to produce. You have to make a financial profit and you have to produce more barrels of oil than it costs barrels of oil to produce it. Check out EROEI.
The big problem is that in 2020 we'll end up with very expensive oil to produce, and this will have disastrous effects on large parts of the world economy, while benefitting some slobs who were lucky enough to have oil under the surface. The world economy cant really deal with $120+ oil, and I think it's pretty likely that we're going to go back there.
Chase Rogers
>antarctic = arctic
the absolute state of climate change deniers
Jordan Price
Choo Choo......
Austin Barnes
>Oil has to be around $300 or higher a barrel for electric cars to produce any net savings on fuel.
Are you retarded? Electric cars on the market right now are running on the price equivalent of a petrol car that gets 150mpg.
Eat shit mobil shill.
Ryder Sanchez
The oil we know about TODAY is enough to last over 500 years at current consumption. Find something else to spaz about.
Angel Rogers
electric cars are become more poplar as they get cheaper over time. mostly because companies are ramping up production of batteries. In NZ, a leaf costs $69k, but this years model will be $48k, putting it 10k shy of a normal car. Tesla will be similar.
you're right fanatics stopping shale from being used in most countries, but in the US and Canada they were really quick to start extracting that oil
Eli Gray
>wind stops blowing
>train halts
Brilliant.
>across countries
Good luck building rail over the ocean (where most international hauling takes place).
Compare prices for cars that have both gasoline and electric variants (emgrand, focus), the electric one is three times as expensive while being inferior in every way (lower range, 8 hours refuelling instead of 5 minutes, lower life expectancy). What you'll save on fuel over the battery's lifetime is not worth that price difference. Electric cars are only sold in countries where the state pays for half the car in subsidies.
Brandon Mitchell
>The oil we know about TODAY is enough to last over 500 years at current consumption. Find something else to spaz about.
Retard. That 500 years at current consumption figure is only true if you're willing to pay 300-400 dollars per bbl. And that will absolutely destroy the world economy. So yeah, you could have all the oil you want in the world, but you wont have any money left to buy anything else.
Leo Adams
>wind stops blowing
What is industrial grade batteries?
forbes.com
>Good luck building rail over the ocean (where most international hauling takes place).
electrek.co
>Compare prices for cars that have both gasoline and electric variants (emgrand, focus), the electric one is three times as expensive while being inferior in every way (lower range, 8 hours refuelling instead of 5 minutes, lower life expectancy). What you'll save on fuel over the battery's lifetime is not worth that price difference. Electric cars are only sold in countries where the state pays for half the car in subsidies.
We're willing to pay more for our transportation if it means we can destroy that gas station run by Putler you call home
Isaiah Garcia
You're spreading misinformation, and it's pretty gay.
I can get a second-hand Nissan Leaf for a couple of grand more than a second-hand non-electric car, and it costs ~20 cents to fill it. I pay $100/week in gas, it'd pay for itself within a couple of years. Sure the range isn't huge but I make maybe 2 trips a year that are greater than that. My country doesn't subsidize electricity.
You're just shilling for oil because once the rest of the world weens itself off the stuff you'll have nothing we want and will once again drift into irrelevancy.
Connor Stewart
youtube.com
War hero McCain says it best. Vlad you're getting destroyed by our sanctions, I hope the CIA financed Churkas will kill you last, after they rape your women and destroy your civilization
Charles Butler
it was supposed to run out in 2010 because retarded burger scientists told so
now another retarded burger says so this time it must be it
mongols..
Jose Torres
Retard. Conventional oil has peaked, just as the burger scientists said it would. What literally nobody expected was that that ultra low interest rates would created a fracking boom that would increase global production.
John Peterson
>What is industrial grade batteries?
Something that is immensely expensive (way more expensive than you fictitious 300$-barrel oil) and cannot be manufactured in large quantities.
>all-electric-autonomous-cargo-ship
Just a concept. Come back when it actually sails.
>We're willing to pay more for our transportation
Gee, stop importing oil and gas right now then. And see your country being reduced to African level.
Nissan Leaf has a range of 150 km. Basically no good for anything but commuting to work.
>second hand
Which means the battery has even less lifetime remaining. And you could buy a new cheap regular car for half that money that would remain in working conditions for decades.
>$100/week in gas
Because fuel gets taxed. A lot.
>hurr durr you're a shill
Not an argument.
Jordan Cruz
Oil is infinite.
Sauces confirm in an amusing new report.
Caleb Rodriguez
no moron they stated in 60's and 70's that oil will run OUT in 2010
there was even a propaganda in gaming community (games like act of war) to fear monger morons into it
whoever believes in it is just retarded
sage
Samuel Hill
Does this mean I should invest in oil company stocks?
Camden Rivera
Why are you so butthurt anyway?
Carson Long
>no moron they stated in 60's and 70's that oil will run OUT in 2010
Conventional oil is on a downward curve you absolute gopnik. All we have left is shitty heavy oil and shale oil.
Levi Hernandez
>Why are you so butthurt anyway?
MH17 you fucking gopnik
Tyler Thompson
>Gee, stop importing oil and gas right now then. And see your country being reduced to African level.
We'd be on your level then you mean
Colton Flores
>MH17
Juan Perez
Oh no, surely this will be the end of mankind says the increasingly nervous man for the 2300th year in a row!
Landon Ortiz
t. Arab
Dominic Perry
I'm probably more white than you, considering I have Norwegian and Finnish biological parents, blue eyes, white skin.
Nolan Harris
>Finnish
Cease living, spawn of the Mongol horde
Ethan Martin
Mr Vegas?
Heads high kill it with me now.
Jayden Morris
I really hope we experience a societal collapse, it's the only thing I wish for.
Cooper White
I love Sup Forums, I really fucking do, but holy shit the conversations around the oil industry that take place on here are school yard level.
t. Former big oil geologist
Samuel Lee
Read: You'll see it sooner then you think, read my posts.
Nathaniel Gray
>t. Former big oil geologist
Nice
>school yard level.
Where do we go wrong?
Landon Wilson
Blame the public system.
Isaac Brooks
>flag
Kek
Hunter Wilson
I'm listening. Respect for STEM.
Hunter Cox
> building rail over the ocean
Why? We can use nuclear reactors.
Read about Sevmorput, Mutsu, Otto Hahn or NS Savannah nuclear-powered merchant ship.
Leo Wood
Dispense redpills then.
Christian Hernandez
>oil discoveries
Perhaps because theres no new plots of earth which people have not discovered. I think that may have something to do with it.
Angel Lee
>he doesnt know
Jack Moore
There's no one thing in particular, just that most of the talking points seemed to be picked up from articles that have been skimmed. This is understandable as a proper grasp of the industry is difficult due to the complex nature of the beast.
One thing that always rustles my jimmies is the talk of how expensive tight oil is to produce. The actual cash cost in many locations is in the $10-$15 per bbl range. The really high numbers generally come in to play with poorly managed companies.
Juan Harris
OPEC limiting supply + China increasing demand from what I've read.
Chase Martinez
All those projects have failed, except for Sevmorput.
Never going mainstream for two reasons:
1. government concern over possibility of pirates or terrorists taking control of a functioning fuelled nuclear reactor
2. public concern over radiation safety and autistic screeching of the tree-huggers
Nuclear powered vessels will be forever limited to icebreakers.
Ian Jackson
Russia has few icebreaker ships powered by nuclear reactors, I'm sure they can do it on state merchant ships.
Gabriel Lopez
Then why not return to the sails?
1) Eco-friendly
2) Independent of oil or uranium
3) A E S T H E T I C as fuck
Carter Reyes
The discoveries are low because no one is spending money on Exploration given that prices in oil since 2014 got absolutely crushed. There are enough frack wells in the US that are duck wells that we could easily turn them on and ramp up supply incredibly quickly in about 6 months.
Colton James
Want a Sup Forums type redpill from a former oil industry insider?
The Nevada Great Basin is among the largest hydrocarbon source rocks on earth.
Some of the assayed sweet spots are in reasonable proximity to Las Vegas and it highly unlikely that these can be drilled due to the cities reliance on tourist dollars.
Perhaps I've been on this board for too long but I often thought that making Vegas (and Reno) an undesirable tourist spot is a big plus for drillers.
Logan Reyes
>industrial grade batteries
Low efficiency, unreliable and expensive.
Also conversion loss.
They can work only in conditions of state subsidies.
>electrek.co
>3-D presentation
And where do we get energy from? Gay-pride parades?
Mason Anderson
>MH 17
Geopolitics, nothing personal
You are not the first, you are not the last.
Justin Scott
>wait for 3 years for your goods to arrive from ali express
>paid $1000 for delivery
>the ship perishes in a storm
You know, there's a reason that large scale marine trade only became a thing in the age of fossil fuels.
There's a thing called turbosail though, but it only reduces fuel consumption, it can't go on the wind alone.
Why would the state be interested in building a whole fleet of expensive ships that require special guard for the purpose of shipping your dragon dildoes from China? Icebreakers are a strategic asset, merchant ships are not.
Carson Hernandez
>born just in time to make billions scrubbing plastic from the oceans to sell in the open market
Daniel Campbell
It's incredibly fucking useless. They have tried having deploy-able sails on tankers to save them a bit of fuel crossing the Pacific, but it's just not viable.
Most offshore ships built after 2015 after diesel electric. Cruise ships are all diesel electric, most modern installation vessels are diesel electric.
The ones that aren't are tankers and cargo vessels, along with AHTS vessels. ((THEY)) say it's to do with the bollard pull and thrust-torque provided by the diesel driven prop in the water, but I think they just don't want to change because they make so much money from the fuel.
Yachts also, only use their diesel engine for tough maneuvers. Most of the time they are using 30% capacity on the diesel engine. Some of the real fucking fancy yachts have some of the bridge equipment and deck (client) machinery hooked up to solar. I worked as the lecky on a yacht for 4 months last year and I think we only used 20 cubes of fuel for 4 months straight.
Joseph Parker
But my Russian friend, you already use nuclear powered icebreakers to HELP those merchant ships that go through the northern way..
Blake Davis
One thing to keep in mind is big oils fuckery with words. I see people talking about "reserves" all the time. This is such a vague fucking word due to its industry definition. It can be played with reasonably easily and legally for the most part.
OOIP is a better indicator. Recovery rates do change of course, but we generally can forecast pretty well as to what we will ultimately recover.
Despite all of this, I generally found that the industry is pretty honest overall. They are just reasonably protective of certain numbers (I'm sure that revealing some things could even get me killed, kek).
Jonathan Richardson
>This is such a vague fucking word due to its industry definition
"Reserve" is a very specific legal term, actually.
Zachary Campbell
Define the "economic" component for me
Christopher King
You should check out the JORC code.
But basically economic means it can be sold for profit greater than the cost of extraction. That's why things can go from uneconomic to economic and vice versa.
Jeremiah Rivera
>wait for 3 years
Tea clippers swam at speeds of up to 30 knots.
What prevents us to put solar panels on the sails?
Christian Perez
Isn't there meant to be a shite load of oil in Antarctica?
Jonathan Garcia
National Socialists from New Swabia will not allow the extraction of their resources
Benjamin Diaz
The icebreakers are sailing in our Arctic waters, they don't go to China or elsewhere. No possibility for them to be captured or anything. And if I'm not mistaken, the trade there is all oil tankers and LNG, obviously a state interest.
>What prevents us to put solar panels on the sails
Common sense, I would guess.
Cooper Phillips
its useless if mining it costs more than the profits from it
Gabriel Myers
The economics of any particular well are determined by the company holding the lease.
Asher Young
They're determined by the market. If I hold a lease I don't get to just say "My patch is economic!"
(Concentration * volume * price/volume) / market price per volume
Angel Price
So the market determines what your production costs will be? Interesting. Tell me more.
This is particularly easy to game. I've seen it occur on several occasions.
Tyler Nelson
...
Caleb Hughes
When the oil dries up:
Prices skyrocket
No money for Oil dependant nations
Mid east becomes worthless
Alternative fuel takes over
General mayhem ensues
Julian Diaz
The oil discoveries don't mean shit. Saudi Arabia has enough oil to last at least a century. Many of the biggest oil deposits that have ever been discovered are still completely untapped because tapping them all would cause the price to collapse.
Moronic thread
Mason Sanchez
What we really need to do is figure out how to get all that methane trapped in the ocean.
Jacob Green
Stop burning fossil fuels.
Robert Peterson
>batteries
If the >11 posts by this kike wasn't already what made it obvious you were a clueless muppet shill, this surely does.
Anyone that brings up batteries as a solution for passive energy generation is the kind of illiterate fuck that probably threw Kikestarter money at Solar Freaking Roadways.
Isaiah Howard
They've been saying the oil is about to run out since the moment it was discovered. Find something else to cry wolf about.