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Really not sure why both of my comments are getting down-voted into oblivion, but case and point, oil is now trading at -$37.00 (negative thirty seven dollars)

Really not sure why both of my comments are getting down-voted into oblivion, but case and point, oil is now trading at -$37.00 (negative thirty seven dollars) https://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic https://www.marketwatch.com/investing/future/crude%20oil%20-... Can someone explain the down-votes?

altcognito 6y ago
"Running out of oil" and "peak oil" would be two completely different things. Lightheartedly pointing out something as if it didn't happen when in fact it did happen, will get you downvoted. It is easy to agree that "running out of oil" sometimes was conflated with "peak oil", but alas, that's just ignorance.
- deleted 6y ago
  [deleted]
- beervirus 6y ago
  Except it hasn't happened yet. https://en.wikipedia.org/wiki/File:Global_liquids_and_US_tight_oil.png https://en.wikipedia.org/wiki/File:Global_liquids_and_US_tig...
  - altcognito 6y ago
    Perhaps I was not clear. This graph you are sharing is shale oil, not the pure stuff found in oil shales. Regular oil production reached peak in 1970. We invented new sources that were considered untappable because of the expense of extracting it at one point. I'm not saying this is bad, I'm just saying that peak oil, as it was originally defined, is very much a real thing. On the plus side for oil enthusiasts, we will probably not run out of the more dirty variety for quite some time. https://en.wikipedia.org/wiki/Peak_oil#/media/File:Hubbert_Upper-Bound_Peak_1956.png https://en.wikipedia.org/wiki/Peak_oil#/media/File:Hubbert_U... (also see article refered to by this)
    - beervirus 6y ago
      Did the original definition specifically refer to non-shale oil? That doesn't seem too likely. It was just about total production. https://www.youtube.com/watch?v=ImV1voi41YY https://www.youtube.com/watch?v=ImV1voi41YY The fact that we've made new sources viable means we haven't hit the peak yet.

altcognito 6y ago

"Running out of oil" and "peak oil" would be two completely different things. Lightheartedly pointing out something as if it didn't happen when in fact it did happen, will get you downvoted. It is easy to agree that "running out of oil" sometimes was conflated with "peak oil", but alas, that's just ignorance.

deleted 6y ago
[deleted]
beervirus 6y ago
Except it hasn't happened yet. https://en.wikipedia.org/wiki/File:Global_liquids_and_US_tight_oil.png https://en.wikipedia.org/wiki/File:Global_liquids_and_US_tig...
- altcognito 6y ago
  Perhaps I was not clear. This graph you are sharing is shale oil, not the pure stuff found in oil shales. Regular oil production reached peak in 1970. We invented new sources that were considered untappable because of the expense of extracting it at one point. I'm not saying this is bad, I'm just saying that peak oil, as it was originally defined, is very much a real thing. On the plus side for oil enthusiasts, we will probably not run out of the more dirty variety for quite some time. https://en.wikipedia.org/wiki/Peak_oil#/media/File:Hubbert_Upper-Bound_Peak_1956.png https://en.wikipedia.org/wiki/Peak_oil#/media/File:Hubbert_U... (also see article refered to by this)
  - beervirus 6y ago
    Did the original definition specifically refer to non-shale oil? That doesn't seem too likely. It was just about total production. https://www.youtube.com/watch?v=ImV1voi41YY https://www.youtube.com/watch?v=ImV1voi41YY The fact that we've made new sources viable means we haven't hit the peak yet.