Quote:
Originally Posted by jjshabado
Jiggs, this idea of differentiating between convention and unconventional oil sources is silly. You're trying to have it both ways by talking about these massive price increases and not enough production. But if we see massive oil price increases then the production of nonconventional sources is profitable - and so it will happen.
It's just wrong to say that price will go up massively and production won't be able to keep up.
LOL... cept, who's going to be able to buy it?
I've asked this question seemingly a hundred times, and you guys never seem to have an answer for it. I mean, I think Row Coach amusingly said there'd still be demand for oil at $300/bl., but that was as deep as it ever went, and supported by nothing. Maybe the 1%'ers who can still afford it can build Elysium or something and carry on.
But, well, peak oil will still have happened.
I guess yours is a "let them eat cake" assessment as well? I was hoping not.
Quote:
Originally Posted by jjshabado
I don't think the global situation is in general any worse than it was for the majority of the 20th century (and in general I'd argue its significantly better). Seems silly to think its caused just because of peak oil. At the very least you need to actually put forward an argument and evidence for this position of yours.
LOL!!!! ... I have. Several dozen times, actually. ... and was banned for it.
Quote:
Originally Posted by jjshabado
So are you saying the bad outcome of peak oil that you're talking about is a global economic situation like we've had since 2008? That certainly wouldn't be ideal, but its far from catastrophic.
Two things are quite different this time around:
- the era of unprecedented cash injections in order to prop up the great ponzi scheme is over
- unconventional production wasn't facing imminent decline
We said at the time that the cheaper conventional oil production volume was not gonna grow any more (it hasn't), and that the fracking boom was a short-term blip (
confirmed). It has gone almost exactly according to forecast analysis, by everyone from the Post Carbon Institute, to the 2008 Pentagon JOE report.
Last edited by JiggsCasey; 10-28-2014 at 01:20 PM.