Posted on 06/15/2017 9:48:08 AM PDT by Lorianne
Artificial intelligence is already here, with algorithms replacing traders on Wall Street and tanker watchers in ports. Robots are here, too, drilling wells and cleaning pipelines, assembling cars, and performing surgery. Make no mistake, the fourth industrial revolution is accelerating and it is running on oil and gas—at least for the time being.
This is a fact that few of those active in the advancement of renewable energy would be willing to acknowledge or even consider, yet a fact it is: the revolution needs energy, and at the moment, renewable sources are simply incapable of supplying energy in amounts sufficient to run all the power plants and smelters that produce the electricity to power servers around the world, and the heat to produce the materials that wind turbines, cars, and solar panels are made of. And that’s without even mentioning batteries.
(Excerpt) Read more at oilprice.com ...
Drill, Baby Drill!
Stetsons off to the Texas oil men, especially the independents, who saved this economy from stagnating into another Depression during the terrible Obama regime. They have pulled off a magnificent technological revolution in the energy sector, cutting the cost of oil production in half and freeing America from the gouging of the OPEC countries who hate us.
Bringing jobs and capital back, choosing to build or move factories here, rebuilding infrastructure, etc., will all require ample oil/gas supplies. We will see the results very soon.
The economics and physics attendant to the energy densities of liquid fuels tells the story. s
Another tale to tell for capitalism.
Oil production companies in the heartland, working in self interest, benefit all of us.
The economic downturn that began in 2008, would have been a blip; were it not for the simultaneous sudden rise in oil prices to nearly 150 per barrel. We simply could not see a future in that world, and as a group hunkered down.
Enter new forms of oil production, and we are now back stronger than ever.
Yes, solar panels and cheap batteries make change the electric grid; but that’s only a small part of O and G consumption.
We are flying more than ever, and many more billions of us soon will also. Ships, trains, trucks all burn oil. Most cars will continue to burn oil though short range trips may not, but this is a minority of car transport need.
Then there is the chemical industry, plastics and such. Paints, solvents, asphalt. All from oil.
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