4 ms·

> Global peak oil is around now. Source?

• mikewarot 3y ago
  Production peaked a few years ago[1]. Additionally, the energy required to recover a barrel of oil from shale, etc. is far more than from traditional sources.[2] [1] https://data.oecd.org/energy/crude-oil-production.htm https://data.oecd.org/energy/crude-oil-production.htm [2] https://en.wikipedia.org/wiki/Energy_return_on_investment https://en.wikipedia.org/wiki/Energy_return_on_investment
  • thfuran 3y ago
    That looks like a pretty constant upward trend that just juked due to COVID and a lack of more recent data.
  • MaxHoppersGhost 3y ago
    We’re projected to hit a new global production record this year. I used to work in the shale industry so I know how it works. Yes it’s more intensive but breakevens for fracked wells are down to what breakevens for conventional wells were 20-30 years ago. They have superior technology and processes now that are only getting better, more efficient, and cheaper. There is a lot of money at stake and a ton of very smart people working on this stuff.