There is a shortage of oil [period]

Discussion in 'News from around the damp planet' started by Rick Larson, Feb 23, 2014.

  1. Rick Larson

    Rick Larson Junior Member

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    Watch this video, the information is dense, so close out all your other internet activity, otherwise you will miss some of it. Here are some highlights as I have gathered them:


    1. There is inherent demand.
    2. Capex has dropped five fold.
    3. Major oil companies are cash-strapped.
    4. Oil is going to the highest bidder, period.
    5. Conventional oil has declined since 2005, since then, it cost 3.5 trillion dollars in development to lose a million barrels a day production.

    https://energypolicy.columbia.edu/e...arket-forecasting-main-approaches-key-drivers

    If you watch this and think, boy, that Rick Larson really is ruining my day. Well, think again. Because this information will prepare you for higher [energy] prices and/or shortages. I am your best friend, and do have some advice for you.
     
  2. Rick Larson

    Rick Larson Junior Member

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  3. Rick Larson

    Rick Larson Junior Member

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  4. 9anda1f

    9anda1f Administrator Staff Member

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    This article summarizes a presentation given by Steve Kopits and gives evidence that oil companies are deferring capital expenditures due to increasing exploration and drilling costs in the face of static oil prices. The eye-opener is that without continued and even increasing exploration and drilling, the global oil production rate will begin to fall precipitously (as it's been propped up since 2005 by non-conventional oil extraction).

    Hence the title of the article, "Beginning of the End?"

    https://ourfiniteworld.com/2014/02/25/beginning-of-the-end-oil-companies-cut-back-on-spending/
     

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