That is BS and horse caca. Things die things rot. And natural gas and oil is formed. I think if you are watching oilprice.com, that means you probably looked at it more than once or twice as I have. I visit it often...The articles and everything are always permabear and they are very much a left-wing organization. It seems counterintuitive, but that would be in the oil industry. But I almost think oilprice.com is funded by left-wingers who hate oil.
Yep more BS. They cling to the lie we are running out when the truth is we are not and it’s not even close and it never will be
It’s not JUST ME!!
I’ve noticed this site popping up here lately and it’s ALWAYS gloom and doom and slanted left.
I thought I was losing my mind.
Well..maybe but at least not over this :)
Think again.
We have all heard this business about “peak oil” before. The under layers of the earth’s lithosphere CONTINUES to form oil by abiotic means, and the technology for finding even more petroleum is “dry” wells continues to improve.
But more importantly, we can MAKE a very good grade of kerogen (the vital portion of petroleum that can be refined into the lighter fractions of the mixture that comes up out of the well), right now, on what could become an industrial scale. Any mass of organic material, be it sawdust, discarded plastics, waste paper, turkey offal from slaughterhouses or old condoms, when put in a retort with suitable amounts of water (to form the superheated steam that does the transformation) and kept under several atmosphere’s worth of pressure, at about 700 degrees Centigrade (conditions vary with the sort of feedstock used) after a period ranging from minutes to several hours, undergoes a process known as “thermal depolymerization”, and the resulting kerogen may then be further refined into useful products. The world need never be without petroleum products, and in fact, the various applications will probably multiply vastly over coming years.
I’m not an expert, only been at it 32 years. At 60 bucks or less a barrel, the lady is dead on correct. If oil drops below 40, it could reduce ND and US production bigly in 2 years.
Best case is a real tech advance in secondary recovery that conventional oil fields have been operating for nearly 100 years, that works economically in rocks with 1/100th the permeability. That might have a chance to keep production flat for decades.
$80-100 a barrel oil opens up the peripheral non core lower quality properties to economically attractive development and the party is back on.
Disclaimer: not an oil price.com reader for some time, nothing there when they are right for me that I don’t already know.
the creation of oil us a natural process - animals not needed - animal theory began in the 18-1900s when geo processes not understood,