Its not about peak oil. its about EV’s. they’re going to kill the demand for oil. Even GM has recently announced they’re going all electric.
Well, if we ARE at peak oil, and the lefties want to go fossil fuel free, the problem will solve itself over time as oil becomes scarce and expensive, and we have to replace it. Of course, if you say no nukes, then a lot of the new electricity will likely be provided by coal. (see Japan)
XOM is yielding 5.5% and is not going away.
The first thing they need to understand is that there is no such thing as “fossil fuel.”
Wow. Peak Oil. One of the theories that drove me to become a Petroleum Geologist in 1972. We were supposed to run out by the end of the decade (1980). I guess we must have done a pretty good job, because now we are not importing any oil. When I went into the business, we were importing about 1/3 of our oil..
I would agree about the old wells coming alive after being framed again.
Near mountain view wyoming I was on a swab rig working on a well that had been drilled in the sixties.
The framed it and it came back to life
The Green River Formation contains the largest oil shale deposit in the world. It has been estimated that the oil shale reserves could equal up to 3 trillion barrels (480 billion cubic metres) of shale oil, up to half of which may be recoverable by shale oil extraction technologies.
To put that volume into perspective, From 1969 to 2018, a fifty-year span, the world has consumed 1.306 trillion barrels of oil.
So, in a SINGLE location in the US alone, there resides MORE (eventually) recoverable oil than the WORLD has been used in the last 50 years.
Peak retardation.
So how do the snowflakes plan on charging their toy vehicles once coal plants are no longer around to re-charging them? Wind mills? LOLOLOL
We will more than likely hit peak demand before we hit peak oil. We may, from time-to-time in the next decades hit peak rate that will come and go but probably not peak oil.