3 ms·

Oil glut? The analyses I've read point to an oil _crunch_. Are you being sarcastic?

by tpfour 8y ago

hguant 8y ago
Nope - just a few weeks ago the largest oil reserve in the US was announced by the US Geological Survey. https://www.abqjournal.com/1254493/usgs-permian-oil-gas-reserves-largest-ever-found-in-u-s.html https://www.abqjournal.com/1254493/usgs-permian-oil-gas-rese...
- iheartpotatoes 8y ago
  I love this part: "The USGS said its estimates are for “continuous unconventional oil,” meaning it’s spread throughout the Wolfcamp and Bone Spring formations rather than concentrated in one place. It said the reserves are “undiscovered,” meaning they have yet to be produced, and that they’re “technically recoverable” with current technologies." Key phrases: * continuous unconventional * undiscovered
AndrewGaspar 8y ago
Peak "Peak Oil" was 2005. https://trends.google.com/trends/explore?date=all&geo=US&q=peak%20oil https://trends.google.com/trends/explore?date=all&geo=US&q=p...
DeonPenny 8y ago
No not only is oil production at historic highes, my theory is the US, Chinese and other foreign governments will start pushing electric vehicles hard. With tech adoption being extreme high unlike the past this adoption curve may take less than 5 years to get huge shares. If you look at the US for example for the first time in 30 years. They've been oil reserves. Oil they save for nation security to turn it into profit before it's worthless. It makes sense for China, the US, and europe to go electric since they have very little oil. It's a national security thing is what my guess is.
- iheartpotatoes 8y ago
  "If you look at the US for example for the first time in 30 years. They've been oil reserves. Oil they save for nation security to turn it into profit before it's worthless." Huh? We've had reserves for practically a century: https://en.wikipedia.org/wiki/Oil_reserves_in_the_United_States https://en.wikipedia.org/wiki/Oil_reserves_in_the_United_Sta...

Oil glut? The analyses I've read point to an oil _crunch_. Are you being sarcastic?

by tpfour 8y ago

Oil glut? The analyses I've read point to an oil _crunch_. Are you being sarcastic?

Nope - just a few weeks ago the largest oil reserve in the US was announced by the US Geological Survey. https://www.abqjournal.com/1254493/usgs-permian-oil-gas-reserves-largest-ever-found-in-u-s.html https://www.abqjournal.com/1254493/usgs-permian-oil-gas-rese...

iheartpotatoes 8y ago
I love this part: "The USGS said its estimates are for “continuous unconventional oil,” meaning it’s spread throughout the Wolfcamp and Bone Spring formations rather than concentrated in one place. It said the reserves are “undiscovered,” meaning they have yet to be produced, and that they’re “technically recoverable” with current technologies." Key phrases: * continuous unconventional * undiscovered

AndrewGaspar 8y ago

Peak "Peak Oil" was 2005. https://trends.google.com/trends/explore?date=all&geo=US&q=peak%20oil https://trends.google.com/trends/explore?date=all&geo=US&q=p...

DeonPenny 8y ago

No not only is oil production at historic highes, my theory is the US, Chinese and other foreign governments will start pushing electric vehicles hard. With tech adoption being extreme high unlike the past this adoption curve may take less than 5 years to get huge shares. If you look at the US for example for the first time in 30 years. They've been oil reserves. Oil they save for nation security to turn it into profit before it's worthless. It makes sense for China, the US, and europe to go electric since they have very little oil. It's a national security thing is what my guess is.

iheartpotatoes 8y ago
"If you look at the US for example for the first time in 30 years. They've been oil reserves. Oil they save for nation security to turn it into profit before it's worthless." Huh? We've had reserves for practically a century: https://en.wikipedia.org/wiki/Oil_reserves_in_the_United_States https://en.wikipedia.org/wiki/Oil_reserves_in_the_United_Sta...