Posted on 12/24/2020 9:24:20 AM PST by Twotone
You may have noticed that the nation entered a political crisis after election day. However all that turns out, and whomever occupies the White House, a Pandora’s box of pressing problems and quandaries lie beyond this battle, and they will determine how we arrange daily life in this land, especially the question of what our towns and cities will look like, and how they’ll function, which has been the focus of this monthly column the past year.
Due to the incessant blathering of economists who only follow the movements of money, most Americans do not understand what supports our techno-industrial economy and all the familiar comforts and conveniences that come with it. Oil supports it, and has for the past 100 years, and it makes all our fabulous amenities possible. Oil has been heading for trouble for a couple of decades and now it has arrived at the crisis point. Our supply of oil is dwindling because it costs too much to pull it out of the ground. It’s that simple. Our basic business model is broken.
The shale oil “miracle” is a bust. It was a fabulous stunt while it lasted. It lifted U.S. oil production from under five million barrels per day in 2008 to 13 million barrels per day in 2019, but it could never operate at a profit and the companies involved are quitting and going bankrupt. U.S. oil production is down two million barrels per day since March, and informed observers predict it will fall as low as six million in 2021—half what we produced in 2019.
At the same time, the lockdowns of the Covid-19 emergency have killed so much business that the demand for oil remains low, and with low demand come low prices wreaking more havoc among the oil producers...
(Excerpt) Read more at theamericanconservative.com ...
Whether Trump succeeds in court or not I hope every biteme and the whore voter gets maximum punishment as a direct result of biteme’s socialist handlers’ decisions and the whore’s social agenda.
All due to gov. bureaucratic regulations. Science says..
“especially the question of what our towns and cities will look like, and how they’ll function”
That is OK, President Biden* plans on flooding every quite nook in America with section 8 foreigners..
Another peak oil squawker. He doesn’t understand tight oil producers are shutting down because the price is too low, meaning the world is awash in oil.
Interesting stuff. Thoughts?
PING!
The shale oil “miracle” is a bust. It was a fabulous stunt while it lasted. It lifted U.S. oil production from under five million barrels per day in 2008 to 13 million barrels per day in 2019, but it could never operate at a profit and the companies involved are quitting and going bankrupt. U.S. oil production is down two million barrels per day since March, and informed observers predict it will fall as low as six million in 2021—half what we produced in 2019.
Don't know who this guy is, I would guess he's in the Bush-Neocon axis.
Shale and oil sands put a ceiling on oil--meaning if what remains of OPEC ever decided to play games again....the technology is there, and will start up as soon as the price per barrel increases.
bkmk
Yep. So much of the world is stunted by Communism, hardline Islam, and other alien ideologies that its quite difficult to tell how much better off we would be without these stifling, statist ideologies, both within our country and overseas.
Yep. And in addition, he seems to be oblivious to the fact that the country has centuries worth of coal left in the ground, and we can also ramp up nuclear power.
Whether we have the will to use those things, I have no idea.
We didn’t enter a political crisis, it was created on purpose by those who worship Saul Alinsky!
First we are doomed because oil is running out, now we are doomed because there is too much. Is there a ‘just right’ amount?
You will own nothing and you will be happy.
Kunstler is a Democrat. A Democrat who likes bashing his party unrelentlessly.
He thinks Washington D.C. politicians are corrupt hypocritical jokers.
During the Mueller farce and impeachment of Trump, his ridicule of people like Adam Schiff was priceless.(in one of his articles he called Schiff the arch schlemel)
He does have a blind spot when it comes to peak oil theories though.
Sol Alinsky didn't invent humor, or criticism; he merely made it more enjoyable, and helped to further "Kabuki Theater'.
Sol reveled in pointing out hypocrisy, and the fact that institutions could never live up to their ideals.
What is being offered here is :" Minimalism", or,
doing more with less (!)... until it hurts !
This guy’s full of crap, too.
Absolutely false. I can tell you that in the Permian basin a tier 1 wells break even price is $23.50 a bbl I have drill literally thousands of spraberry and wolfcamp wells that every one was profitable at any price above that point. Yes as a matter of fact I am a petroleum geologist and have worked for a number of major and minor oil companies in my decades of being in the industry. The shale miracle is just that a triumph of American engineering and science. This guy has a political agenda his economics are false. The last company I worked for had so much Permian basin tier one acreage that the total number of normalized 12000 ft laterals they could drill was 30,000 wells that’s just tier one, tier two and three had tens of thousands more. Let that number sink in. With at one point 40 rigs drilling 24/7 and each ops geosteering 5 wells at a time it would have taken nearly 60 YEARS to drill out just the tier one acreage that this ONE company owned. Think about that.
When I read that, I knew he knows nothing about economics.
I read that the Chinese are building coal fired and nuclear power plants by the hundreds and plan on converting to electric cars and trucks.
So plenty of oil for us, I’d think.
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