Quote:
Originally Posted by HungLikeJesus
Perhaps this is the beginning of the end of oil.
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This works when naive political types, educated to be decision makers, don’t have a clue how things work. What will replace oil? What else can provide that kind of energy per pound? No response is a best answer.
Not included in that article is that the best stuff has already been burned. Not included: the easy stuff has all been consumed. Not included: how many gallons of energy actually get used in productive work? (less than 2 in 10). Not included are that producers cannot keep outputting at near 100% without failures or damaging oil fields. Not included are, for example, 40% loss of production in Nigeria due to strikes and a growing insurgency. Not included are other producers (ie Russia) who have been outputting so much for so long as to now suffer 10+% production reductions. Not includes are option contracts required by suppliers to guarantee their commitments to their customers. Not includes are major changes to refineries as oil quality decreases (becomes more sour).
All this and still no major disruptions. What happens when supplies anywhere are seriously disrupted?
So where is the innovation in America it address these problems? People least able to make technology decisions mandated ethanol AND put up $0.50 per gallon tariffs on those who could provide ethanol productively. Now we have the 'silent tsunami' added to more energy consumption because we mandated ethanol.
More facts in addition to that article.