I'm curious to know if other Chevroids think that peak oil has occurred and if the gravy train has finally come to an end :-(
15 replies (most recent on top)
Peak oil doesn't mean the time has past. There's still billions off dollars to be made, even if the world were to go fossil fuel free by 2050. There's enough room in there for a whole career.
What. Kind of question is this ....? The only rational reason to ask this is because you're bored and just looking to shoot the bull. What would either answer yes or no tell you about your life or anything associated with it?
But we will stop burning oil fairly soon.
Well I think the current world consumption of 100 million BOEPD is unsustainable. Oil is a very valuable commodity and the Shah of Iran once said that it was extremely wasteful to consume it driving around in automobiles. Eventually people will look back in disgust that we wasted a valuable resource. The politicians dream up different reasons to encourage people to drive EV's, but the main reason should be to save oil for the future.
You all realize peak oil is the highest amount of oil produced not the max amount of oil you can/will produce.
It probable better stated what is peak demand.
Peak allowable (can/will produce) production is driven directly off of price. That’s how the Ponzi scheme of UCR was created
We will hit peak oil demand before we hit peak oil; there is plenty of resource in the ground that can be extracted at the right price.
@aup said it. US unconventional is plateaued, if not peaked. Take a look at our internal production curves. If you think the last couple of years have been rough wait until post 2026 or 2027. It will be ROM and ESP’s year over year. If you are early career you need to get out while the getting is good.
LOL it seems that peak oil is always 5 years away
As soon as a reputable authority says they’ve figured out when peak oil will come, Bang…. another oil glut hits the world markets. Hahahaha, we haven’t explored everywhere yet. Anyone who predicts peak oil is only trying to sway the stock markets.
We have not seen peak oil. Maybe peak oil for the US but not the world. When will peak oil for the world be. After 2040 would be my guess.
Peak coal for the US was in the early 2000’s but the decline of coal started in the 80’s with respect to the US. Now for the peak coal of the world it was more like 2013 but I imagine we have not hit peak coal yet as it’s increased for the world and there are a lot of markets that will still increase as time goes on.
TOTAL said today so where before 2030 and I agree.
Somewhere between 2025-2030 at 104 to 106 MMbbl/day.
@vmt is correct, we may never know as we're collectively shutting down capability through regulation rather than production. Realistically, given current and probable future technology, peak oil will probably be reached about 2025-2030, when US UCR will go into serious decline. Another perspective is that Hubbard, in his time, was referring to conventional production, not tar sands or UCR. From that perspective, peak oil was somewhere around 2010.
Yes, but by human design rather than actual resource constraint.
If you are still working there is obviously gravy remaining!
after 2025