World Oil Supply Set To Decline In Coming Decade? | Art Berman, Petroleum Geologist

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Wealthion

Wealthion

Күн бұрын

Пікірлер: 298
@shingnosis
@shingnosis Жыл бұрын
"Money is nothing but a claim on work and work is just energy". Great, great quote.
@life42theuniverse
@life42theuniverse Жыл бұрын
And most of the energy is Sunlight..
@chriswyer8741
@chriswyer8741 Жыл бұрын
Extraordinary expose on “Blind Energy”… Thanx
@williamrucki9293
@williamrucki9293 Жыл бұрын
Tell it as I see it Art, absolutely one of my favorite people I follow. Art, your last 10 minute summary was a home run. You beautifully summarized what you have written about for years. Great interview and I look forward to the next. Cheers Art and Adam.
@ats89117
@ats89117 Жыл бұрын
I watch all the Wealthion interviews, and this was one of the best ever...
@Richard-fw9xu
@Richard-fw9xu Жыл бұрын
Excellent. He comes across as objective, which too often is missing. Far too many financial commentators are opinionated so it's hard to take them seriously.
@chrismoise817
@chrismoise817 Жыл бұрын
Art takes a good approach to the oil markets versus many who want to make it all about politics. For the oil industry, the reality is that it has overproduced and lost money for decades. And while many now want to blame politics for underdevelopment today, Art hits on the correct answer...it is the shareholders demanding profits. And this will continue to be the case in the near term until oil prices rise. So at some point, demand will surpass supply due to this underdevelopment, even if alternative energy sources are developed. And oil companies should benefit. The trick is the timing.
@TheComicChild
@TheComicChild Жыл бұрын
As a lower-class 70 hour work week indebted History Major, a followup livestream would be almost as nifty as the newly liberated A.Berman articles. May require some assistance removing blinders on Bio-diesels & decade-long "peakoil" panic on world Bronze-age-esque collapse.
@Wealthion
@Wealthion Жыл бұрын
Thank you very much!!
@robertgrayraleigh
@robertgrayraleigh Жыл бұрын
Yes Adam. Pls bring him back several times, whether you or we ask the questions. I wish he would give his take on specific companies. Thanks
@tactileslut
@tactileslut Жыл бұрын
Send him a microphone first. The speaker built into my showerhead picks up clearer sound that whatever mixture of tech, socks and shoes he's talking through.
@mattanderson6672
@mattanderson6672 Жыл бұрын
Those were some brilliant points made by Art I really appreciate the effort you go to to try and maintain neutrality You're a fantastic interviewer Adam and I really appreciate how you're helping to educate us Thank you both so much
@davidtexter913
@davidtexter913 Жыл бұрын
Thanks again Adam for hosting a great discussion, and Thanks to Art, again, for his time and knowledge, willing to share on Wealthion. 👍 A live podcast with Art, Yes!
@rd9102
@rd9102 Жыл бұрын
The "energy blind" is an ABSOLUTE TRUTH. The general public (at least in the US) is largely ignorant of the most of reality of life and only knows their own entertainment and happiness. But give them any adult real topic to talk about and they can't tell you the basics however if you talk about the Kardashians they know all about them. Sad but true.
@rogerblanchard3715
@rogerblanchard3715 Жыл бұрын
When discussing the status of U.S. and global oil supplies, it’s worthwhile to provide some numerical data, which I do below. The following comments apply to crude oil + condensate (what I consider oil). In terms of global oil supply, annual production reached its highest level in 2018 at 82.981 mb/d with the quarterly maximum at 84.357 mb/d in quarter 4 (Q4) of 2018. Global oil production in Q1 of 2023 was 82.123 mb/d. I don’t expect the 84.357 mb/d figure to be exceeded in the future. From 2008 to 2018 essentially all of the global production increase can be attributed to the U.S. Some countries outside of the U.S. had increased production while others had a decrease in production but they essentially cancelled each other out. About 93% of the U.S. oil production increase from 2008 to 2019 was due to production increases in 5 shale play: Permian Basin, Bakken, Eagle Ford, Anadarko and Niobrara. The other ~7% of the U.S. production increase was from the deep water Gulf of Mexico. At 27-28 minutes into the video Art states that production in the shale plays outside of the Permian basin are now not growing but gives the impression that production is relatively flat. I assume he doesn’t closely follow oil production in these plays. For the Eagle Ford play, oil production was down about 632,500 b/d in 2022 relative to the peak year of 2015. Production is down further in early 2023. North Dakota Bakken oil production was down about 407,500 b/d in 2022 relative to the peak year of 2019 although production is up in 2023. I see the production increase in 2023 as a temporary increase, like what was observed in Eagle Ford during 2018/2019. While oil production has been going down in the North Dakota Bakken, the number of producing wells has gone up significantly. Anadarko and Niobrara were both off approximately 150,000 b/d in 2022 relative to their highest production levels. It appears that they will both have minor production increases in 2023. I don’t see any of those 4 shale plays: Bakken, Eagle Ford, Anadarko and Niobrara again producing at the rate they once produced. The Permian Basin continues to experience increasing oil production. It now produces about 45% of the U.S. oil supply, approximately 2 billion barrels a year. That’s a high rate of extraction. The question is how long can Permian Basin oil production increase and how rapidly will it decrease after the peak? There are now over 35,000 wells in the Permian Basin so the basin is getting pretty well drilled up. It appears to me that the Gulf of Mexico will not again reach the production level of 2019, approximately 1.9 mb/d. The deep water GOM is now mature. Production increases from the introduction of new field development is cancelled by decreasing production from older fields. Production this year will be approximately 1.7 mb/d. I expect GOM production to decline in the future. The future of U.S. oil production will largely be determined by what happens in the Permian Basin. I think it won’t be too long before production starts to decline there. There aren’t a lot of unexplored regions of the U.S. for new discoveries so unless there is some magical technology to extract more oil from present fields that I’m not aware of, beyond horizontal drilling and fracking, I expect future oil production to go down, in general, in the U.S. What I see with the spending of more money on places like the Permian Basin is that it increases the rate extraction rather than leading to the discovery of more oil.
@MrBallynally2
@MrBallynally2 Жыл бұрын
Thank you. The question here is if ramped up production sites can keep up with declining shale oil/gas availability
@TheRealSnakePlisken
@TheRealSnakePlisken 8 ай бұрын
Condensate is not oil. World shale production is highlly biased toward the US where mineral deposits, resources, capital, and land rights enable energy production from the tight reserves. Increased extraction comes at the cost of higher extration costs, both tangible and intangible, leading to a sliding scale of higher energy costs. Bottom line: Inflation and environmental destruction are required to continue current human civilization.
@RobWilliams007
@RobWilliams007 Жыл бұрын
Gooood morning. Good to have you back, Adam. Hope all is well.
@ChrisGenXer
@ChrisGenXer Жыл бұрын
Brilliant guest, and great discussion. I learned a ton from this interview!!!
@sherylsauder5579
@sherylsauder5579 Жыл бұрын
Loved the guest. Thank you for the balanced views.
@4000angels
@4000angels Жыл бұрын
This was another outstanding interview, but unfortunately, the audio for the guest could have been a whole lot better. I missed a lot of good information because I simply couldn't hear some of the words of the guest. It's a shame because this was an outstanding interview. In the future, please do a preliminary audio check, and please ensure that the guest has a proper microphone for his interview.
@Wealthion
@Wealthion Жыл бұрын
Thanks for the feedback. I've passed it along to Art in hopes of better audio next time.
@bellakrinkle9381
@bellakrinkle9381 7 ай бұрын
I agree, these days, decent mics are not prohibitively expensive. There is no good excuse not to be professional.
@trailguy
@trailguy Жыл бұрын
Someone said that in the 90s tobacco was the most profitable business. It wouldn’t surprise me at all to see existing producers of oil make massive profits soon as it becomes less tempting to invest billions in new production.
@robertlowe9695
@robertlowe9695 Жыл бұрын
Adam T. 51'30" - 53'20" "A lot of people are not incented to solve the problem..." Well said. This is a major problem.
@USMCbro16
@USMCbro16 Жыл бұрын
Good conversation, more oil news is appreciated!
@ericparadis7882
@ericparadis7882 Жыл бұрын
Art Berman. FYI - Boston Metal uses a process that melts iron ore at 1,600C (2,900F) passing massive amounts of electricity through it. Doing so creates molten iron pure enough to be made into steel. If the electricity is produced from carbon-free sources, it would produce emissions-free steel.
@TheRealSnakePlisken
@TheRealSnakePlisken 8 ай бұрын
Indeed, but how do you do that. Solar? Hydro? Wind? How do you manufacture the solar panels [energy intensive silicon refining process], hydro equipment and construction [limited to water space, manufacturing energy intensive, massive turbines/pumps/generators], Wind [gotta build them with massive amounts of materials and concrete; they only last 20 years, then do-over]. ALL energy comes from the sun. Conversion efficiency and concentration form the limits. Nothing like oil, baby.
@robertedgar8780
@robertedgar8780 Жыл бұрын
Yes, absolutely on a live event with Art!
@DxV04
@DxV04 Жыл бұрын
I work in the industry so this should be facisnating!!!
@TheRustyLM
@TheRustyLM Жыл бұрын
Here’s to Art getting a new microphone 👍
@kriswalter560
@kriswalter560 Жыл бұрын
Always good to hear from Art.
@alfredoddiaz8306
@alfredoddiaz8306 Жыл бұрын
Art was good. Have him on again anytime.
@josephpolite3007
@josephpolite3007 Жыл бұрын
Good job Adam you pick good guests! Thanks😉
@pfeilspitze
@pfeilspitze Жыл бұрын
We've been at "only 50 years of oil left" for about 50 years now. There's ton of supply; it's not going away any time soon. It'll just get more expensive, and as it gets more expensive we'll use less of it.
@Scabiesonthewall
@Scabiesonthewall Жыл бұрын
Buy that guy a mic please
@scotthodor4292
@scotthodor4292 Жыл бұрын
Art always brings a truthful balanced expert perspective. Great stuff!
@36handy
@36handy Жыл бұрын
Slanted and very bias.
@aristocraticrebel
@aristocraticrebel Жыл бұрын
Art Berman is a masterclass.
@ziegle9876
@ziegle9876 Жыл бұрын
Though he spins his deep knowledge to sell a doomsday-scenario, leaving out the factor of engineering ingenuity, a not uncommon attitude with geologists....
@aristocraticrebel
@aristocraticrebel Жыл бұрын
@@ziegle9876 It seems like you have a lot of faith.
@ziegle9876
@ziegle9876 Жыл бұрын
@@aristocraticrebel More like a conviction based on many decades of experience....
@aristocraticrebel
@aristocraticrebel Жыл бұрын
@@ziegle9876 Sure.
@liamhickey359
@liamhickey359 Жыл бұрын
@@ziegle9876 you ought to do a bit more homework. How long do you think these rates of extraction can go on for. How long will people be able to drive to the mall or drop their kids off to soccer practice.
@ziegle9876
@ziegle9876 Жыл бұрын
Deepwater and the Arctic are essentially unexplored. And human ingenuity can make these two sources perfectly commercial. Even conventional land still has a lot of potential, if people are serious about practical exploration, not just geologic computer games: OMV in Austria just made their biggest gas discovery in 40 years, which will double this seasoned oil & gas province's natural gas production!
@hagosTiraH
@hagosTiraH Жыл бұрын
Excellent interview , Adam.. I learned a lot from Art. Please bring hom back for Q&A. Thank you.
@RoyceVera
@RoyceVera Жыл бұрын
Countless times i have mentioned that economic growth goes directly against our climate goals. But somehow people argue both can exist together. Its a fantasy. We have to shrink the economy significantly to achieve our goals. Not gonna happen, only when it is to late will we go full panic mode. Glad to see someone else mention this problem.
@timothykalamaros2954
@timothykalamaros2954 Жыл бұрын
It’s always good to hear from someone with a background in the pertinent engineering.
@peteschammann4117
@peteschammann4117 Жыл бұрын
Art needs a new microphone. Still a great show Adam.
@sonnyeastham
@sonnyeastham Жыл бұрын
Plenty of oil in Venezuela....but you can't have it.....WHY?...
@petergozinya6122
@petergozinya6122 Жыл бұрын
Fascinating interview. Thank you Adam.
@BradleyMcDonald
@BradleyMcDonald Жыл бұрын
Quit apologizing when stating facts. If it upsets someone, maybe they will realize that they are not living in a factual world. No pain, no change!
@pdm4pdm4
@pdm4pdm4 10 ай бұрын
He is not apologizing for telling the truth. He is a paid liar.
@adamarakelian5666
@adamarakelian5666 Жыл бұрын
as a retired contractor, the green Biden expenditure is a complete graft. Total waste of resources and extremely ineffective. Yes I worked as an environmental contractor
@vanjamalogorski8898
@vanjamalogorski8898 Жыл бұрын
Mr. Berman also did a couple of great interviews with Nate Hagens.
@bsutton2084
@bsutton2084 Жыл бұрын
One thing Art missed on his definition of reserves is the fact the SEC does not allow the booking of inventory more than 5 years out. Larger companies that have 10 years of inventory only shows about half of their inventory as undeveloped reserves by US rules.
@mickygarcia4251
@mickygarcia4251 Жыл бұрын
For an exceptionally detailed description of the problem, read 'Twilight in the Desert' by Matt Simmons, 'The Party is Over' by Richard Heinberg, and watch Robert Newman's 'A History of Oil'.
@johnbirman5840
@johnbirman5840 Жыл бұрын
When I was contracting in Iraq 2008-2011. Nothing has (was?) been looked for since the 60s. Total (France) & China got all their oil fields in bids. USA? Nothing. Perhaps because we have enough here for a couple of hundred years?
@timthetiny7538
@timthetiny7538 Жыл бұрын
​@mickygarcia4251 twilight in the desert predicted the Saudis would be dust in the wind by now. Not still producing 11 million a day
@user-bj9dc3or4w
@user-bj9dc3or4w Жыл бұрын
​@@mickygarcia4251thnks
@liamhickey359
@liamhickey359 Жыл бұрын
@@johnbirman5840 you have enough oil in America to do you a couple of hundred years?.
@bleys3324
@bleys3324 Жыл бұрын
Can we buy Art a new microphone? The points he makes would carry more weight if the sound quality was better. Apart from the sound quality Art is a source of perspective and you don't get a good perspective very often.
@michaelg659
@michaelg659 Жыл бұрын
Key point was that "cheap" oil is going to be hard to find after 2030. That isn't that far off. In which case, we need to be parsimonious with what we have left and be well along replacing oil where we can. As a physicist I question his statement that all energy becomes heat. It is true that all heat is a form of energy, but not all energy is heat. Motion, whether of planets or cars or machinery is a form of energy, too. In any event, the issue w.r.t. global warming is not the heat generated by f.f.s but the excess CO2 generated. Energy from solar or wind generates energy and batteries store it so we know that is one alternative for motion, and moving machinery in general. I would substitute "hydrocarbons" for "fossil fuels". We can get hydrocarbons from plants as well. Seaweed can be used to generate jet fuel, gasoline and diesel. Since the CO2 generated by those is absorbed by more seaweed the net addition to the atmosphere is zero, which is the goal. There are methods (still in the testing phase) which show alternative ways of refining steel, and making cement.
@michaels4255
@michaels4255 Жыл бұрын
Not enough land to produce sufficient biofuels, and very low EROI's, not enough minerals for a solar/wind revolution and once you add recycling (which is not now being done so they are not truly renewable) and storage (not enough minerals again, though) EROI becomes hopelessly low. None of these alternatives can scale up. A law that required that all solar and wind applications be recycled at the end of their useful life, and that the present value of the cost of recycling be included in the price, would kill the industry. Basically, "renewables" fail as soon as you make them actually renewable instead of just junking them at the end of their useful lives. Same thing with EV batteries. (Hydroelectric is not truly renewable either. Once the oil, gas, coal and U235 reserves have been depleted to a very low level, the Industrial Age is over, as is life as we have known it. We have used almost half the recoverable resource of buried hydrocarbons since the beginning of the 20th century, and for most of that time only a small part of the world was using these fuels in large quantities. Now the whole world is highly dependent on them, so the second half of our buried hydrocarbon treasures will deplete much faster, except to the extent that we hit a limit on how fast we can extract those resources as they deplete.
@UnknownPascal-sc2nk
@UnknownPascal-sc2nk 25 күн бұрын
A major use of oil is lubrication. You can't do your front bearings packed with electricity. The economy will literally grind to a halt and yet we continue to burn the stuff.
@timothykalamaros2954
@timothykalamaros2954 Жыл бұрын
Excellent guest, good to hear a nuanced perspective.
@heidihelo5773
@heidihelo5773 Жыл бұрын
Thank you so much-needed for the truth. 😊
@SB-xm5uw
@SB-xm5uw Жыл бұрын
Art's audio is barely audible. Dropping off this one
@RadicalRocks
@RadicalRocks Жыл бұрын
The audio was pretty tough for me to hear in my drive
@TimoSurfs
@TimoSurfs Жыл бұрын
The audio quality is so poor!
@anisaampatuan
@anisaampatuan Жыл бұрын
An unlimited range electric car powered by zero point energy is scheduled for demonstration in October 2023 in Italy by Andrea Rossi, CEO of Leonardo Corporation.
@julianfelipe4943
@julianfelipe4943 Жыл бұрын
Sixty million BLP Sun-Cell units of 250 KW each (for a total cost of $300 billion) can supply all the energy needed for the *entire planet, two-hundred times cheaper* than the current cost of energy.
@aliendroneservices6621
@aliendroneservices6621 Жыл бұрын
​@@julianfelipe4943To supply just the current global 80 TWt, 60 *_billion_* units (at $300 *_trillion)_* would be required, if they could all be in full sun 24/7/365.
@aliendroneservices6621
@aliendroneservices6621 Жыл бұрын
Andre Rossi is a multi-convicted serial fraudster.
@toneeclark399
@toneeclark399 Жыл бұрын
So many quality guests, Adam! Excellent job constantly summarizing and fine tuning trajectory of responses. I held an extremely (for my balance sheet) large $XOM position during the Covid period, doubling-down somewhere around that negative futures print that you and Art briefly touched on (most realize it was just a big dumb speculative mistake). My reasons for commenting are First, thanks for an excellent interview. Second, a few years after the mentioned XOM trade I’m long energy again but without the ’single stock risk’ ($XLE). Your podcast with Mr. Berman added to my conviction and patience in the trade… Again, Thanks for what you bring to the web.
@thomasboyd7978
@thomasboyd7978 Жыл бұрын
I don't always understand Art's charts on X/Twitter. I still follow him.
@juliazlata9189
@juliazlata9189 Жыл бұрын
If oil prices have dropped almost by half since last year, then why hasn’t gas prices done the same??? Nothing makes sense anymore.
@timthetiny7538
@timthetiny7538 Жыл бұрын
Because we got rid of refineries. You don't consume oil, you consume gasoline
@Mr42960
@Mr42960 Жыл бұрын
Great show!
@Milhouse77BS
@Milhouse77BS Жыл бұрын
Thanks, Art
@standinginthegap7118
@standinginthegap7118 Жыл бұрын
I pray that you and your family had a good celebration of your mother's life last week. Praying that God blesses all of you 🙏❤
@NoOneToNoOne89
@NoOneToNoOne89 Жыл бұрын
What about a future with less oil, but also with a lot less people and manufacturing output. Therefore, requiring far less oil? The oil producing countries / companies are wise to this. The oil cuts are strategic to keep prices up - two consecutive quarters of negative GDP will likely be followed by several more quarters of negative GDP growth.
@darwinjina
@darwinjina Жыл бұрын
Don't worry, as the South America and Africa will greatly outpace the western countries in relation to population growth, oil and power generation needs.
@HubertGeorge
@HubertGeorge Жыл бұрын
​@darwinjina how about lower population everywhere?
@darwinjina
@darwinjina Жыл бұрын
@@HubertGeorge the population shrinkage will slow in western countries but the developing countries will give us an overall world population growth. considering raw materials in Africa, it would be like rabbits. ;)
@generic_youtube_comment
@generic_youtube_comment Жыл бұрын
Just one question, at approx 14 minutes in the guest refers to "west texas international". Is that a replacement standard for West Texas Intermediate ?
@flynnrobert3357
@flynnrobert3357 Жыл бұрын
The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate cause of action.
@mchakakolentai2524
@mchakakolentai2524 Жыл бұрын
stop wasting your time worrying about poverty, and worship God alone !
@Rehook2
@Rehook2 Жыл бұрын
Well, so far we've peaked in 2018 so we'll see wether we surpass this mark or not in the comming years or this year becomes the peak oil. Anyways there's another issue that would be interesting to hear about and has to do with the quality of the oils theirs API gravity numbers, their versatility...and very specially how this affects diesel production, being it the real blood of the economic system. Which by the way already " peaked" even before 2018. My point being oil quality matters, and it does a lot more than people seems to think.
@sonnyeastham
@sonnyeastham Жыл бұрын
900ppm CO2....what a truly green world it would be....what a glorious time to be free.....
@Al.Fer1234
@Al.Fer1234 Жыл бұрын
Art Bergman 😊👍👍
@mikeb7436
@mikeb7436 Жыл бұрын
SPR releases put add’l downward pressure on prices distorting the market.
@agwillie2790
@agwillie2790 Жыл бұрын
I was hoping the SPR factor might have come up. Great interview!
@benranson8424
@benranson8424 Жыл бұрын
Sorry Adam, but on this one the audio was just too much effort to pick out. Some of us don't have the best of hearing/audio comprehension
@imacmill
@imacmill Жыл бұрын
Why the question mark at the end of the video title?
@jeffweber110
@jeffweber110 Жыл бұрын
great disussion, yes bring art back in the future
@jwilliam2255
@jwilliam2255 Жыл бұрын
Taking a somewhat longer view, what humanity needs to do is stop using oil in particular as an energy source as quickly as possible. Not because of CO2 emissions, but because it is the most useful substance in existence for making things. Everything from chemicals to medicine to household and industrial objects. Because petrochemical feedstock use is only about 5% of total petroleum use, it will last at least hundreds of years if used only for things *other* than an energy source. The obvious short term replacement energy source is natural gas and long term is mainly nuclear. So called "renewables" will never play a major role in supplying energy to a planet with a population of 7 to 9 billion people.
@grahammewburn
@grahammewburn Жыл бұрын
Are high oil profits due to less going into Capex to find future oil supplies?
@paulherbert5548
@paulherbert5548 Жыл бұрын
Great discussion as always.
@andyash5675
@andyash5675 Жыл бұрын
Really like the "CO2 Jenga" analogy. I think that one might be viral.
@dustinhartlyn
@dustinhartlyn Жыл бұрын
I would love more of this
@dailydoseofnews4828
@dailydoseofnews4828 Жыл бұрын
SSAB already producing steel without coal. called "Hybrit"
@smr5151
@smr5151 Жыл бұрын
I remember Howard kunstler saying if you grind up your ipod and put it in your car, you'll understand the difference between technology and energy... Fundamentally mist people don't... Any chance of getting Bill Rees on, people can really understand the catastrophe coming.
@hume1234561
@hume1234561 Жыл бұрын
I think I've said this before but on twitter in late 2020 I messaged Art and said I thought oil would reach $100. He said it wouldn't. Here he's right on the general thesis but he puts no emphasis on how important oil is to the financial economy. The strength of the dollar can be measured by how much oil sales are denominated in U.S. dollars. The DXY would crater if U.S. shale production declined precipitously and the U.S. couldn't export 3mb/d. I am 47 minutes in but I haven't heard any mention of inventory draws to cover rising demand. What happens when global inventory is depleted? Eric Nuttal, Christine Guerrero or Shubham Garg have a better grasp of the industry.
@alastairstaunton7081
@alastairstaunton7081 Жыл бұрын
An interesting guest. Well done for paraphrasing and summarising his often long, rambling sentences. I found the sound quality of the guest's microphone quite poor, making him hard to follow. The live session you floated would eliminate this, as he would be well worth hearing from with better conditions.
@digitalimagination716
@digitalimagination716 Жыл бұрын
ESG has to be taken into consideration in this conversation. It's a burden to the sector in regards to investment inflows.
@pd8109
@pd8109 Жыл бұрын
If only we didn't use the atmosphere as a dumping ground. Emissions are atmospheric pollutants, it should not be a question of how much toxic gas we have left, but whether that thin blue line will be livable
@francisbacon2401
@francisbacon2401 Жыл бұрын
War needs oil
@homoruge
@homoruge Жыл бұрын
Who is we?😜
@imacmill
@imacmill Жыл бұрын
And vice-versa.
@hydroplaneing
@hydroplaneing Жыл бұрын
Peace needs oil more than war. Few nations are at war for now.
@francisbacon2401
@francisbacon2401 Жыл бұрын
@@hydroplaneing You need to study history of WW2
@freeforester1717
@freeforester1717 Жыл бұрын
Read ‘A Century of War’ by F William Engdahl, to learn how it’s been Anglo-American policy to deny Germany principally ever since the destruction of the Baghdad to Berlin railway in the early years of the 20th century; other countries and their peoples have been similarly denied or robbed of the lifeblood of cheap, abundant energy as a raw material. This helps explain more recent events, eg the destruction of Nordstream 2 by the US, and what the Ukraine war is really about - who will control the energy and mineral reserves of 11 time-zone wide Russia post Putin. It sure ain’t about democracy!
@emphyrio
@emphyrio Жыл бұрын
Interesting guest, but is it that difficult to get a normal 🎙️??
@bennykwong3172
@bennykwong3172 Жыл бұрын
It's funny how youngsters graduated from high school without retaining knowledge of the principles of physics and thermodynamic.
@lucmarchand617
@lucmarchand617 Жыл бұрын
Here in alberta people from ottawa ont attack oil I work 30 years pipeline is lost cause why because clean energy is just dream period.when is 40 below f lot tesla stall on freeway because too cold end build up traffic jam.thank you video.calgary alberta.
@mickygarcia4251
@mickygarcia4251 Жыл бұрын
Keep in mind that we don't need to run out of oil to get into trouble. If production slows down as we have a debt issue, then that's a recipe for a heck of a lot of pain.
@pq2667
@pq2667 Жыл бұрын
YES LIVE pls.....and bring in Nate Hagens with him
@brianboswell7249
@brianboswell7249 Жыл бұрын
Solar makes 35% toward it's bottom line to break even, 65%-70% is government subsidies, and wind is like 90%. Oil production is break even at or >$45-50 a barrel
@Robert-nk1go
@Robert-nk1go Жыл бұрын
People underestimate the capacity of politicians to change their positions when it's in their own self-interest (like staying in office).
@mdalalsorkar8051
@mdalalsorkar8051 Жыл бұрын
For some, short-term investing in floating rates is just a default position as they find that stocks are highly valued everywhere, meaning perfection is often at a premium, which increases the risk for some thoughtful investors. It's not necessarily a matter of timing. For others, it's a way to build a neutral portfolio in a situation filled with uncertainty. Finding a good investment advisor goes a long way in organizing and planning all of this. I recommend Dan Price CFA for his unique understanding of the markets and his analytical approach.
@Milhouse77BS
@Milhouse77BS Жыл бұрын
Some problems do not have good solutions. How could Kodak have transitioned to digital pictures? They couldn’t.
@MrBallynally2
@MrBallynally2 Жыл бұрын
An important factor is also where this energy (oil and other) is going to go to. That is a multi faceted equation. Food production, supply chain, trade, heating, manufacturing, war, economics. Is the market going to sort that out and how much stronger will the politics put its finger on the scale? It is a bit like the climate debate. No simple equations but a dynamic set of interacting active/reactive variables which poses interesting questions without apparent answers..
@deannahouston8801
@deannahouston8801 Жыл бұрын
Live event would be welcome
@Seawithinyou
@Seawithinyou Жыл бұрын
Great to see Art on this podcast Awesome podcast once again Art Energy Blindness from our governments 🧐😇
@Oilfieldscout
@Oilfieldscout Жыл бұрын
"Behind every unit of GDP is a unit of energy" Karl Denniger Market Ticker
@spacewalktraveller1
@spacewalktraveller1 Жыл бұрын
Thanks for the video. I must admit I always laugh at the Just Stop Oil woke protesters. If we just Stop Oil then we'll have mass starvation within a few weeks.
@georgefe581
@georgefe581 Жыл бұрын
he needs to take about crude quality which matters where’s the heavy coming from?
@lwang5534
@lwang5534 Жыл бұрын
The sound quality is terrible. Difficult to hear him.
@smr5151
@smr5151 Жыл бұрын
Shame about sound quality.
@jivefive99
@jivefive99 Жыл бұрын
I saw Art at our alternative fuels/peak oil conferences once or twice and he was the quietest person in the room. I guess I always suspected he wasnt a "doom porn" kinda person ....
@JagdgeschwaderX
@JagdgeschwaderX Жыл бұрын
He's said that efficiency was the reason for production to continue to increase as the rig count has been lower than 2014 and also 2019, just look at the DUC count during 2020-2022. US land oil companies weren't drilling, they were completing older wells and producing oil from them instead of drilling new wells and using those DUCs as collateral which is what their investors demanded. Right now it seems likely that the US unconventional drillers might have shot themselves in the foot by not ramping up production and expecting higher oil prices for longer where the big boys are picking up offshore rigs especially deep water....90+ dollar oil will only last so long until the deep water wells come on line in a few years, the US unconventional companies should actually ramp up drilling right now to fill the gap and take advantage of high oil prices. In 5-6 years they could be dead in the water.
@avoycendeether8869
@avoycendeether8869 Жыл бұрын
How can I donate a decent mic to Art?
@brennus01
@brennus01 Жыл бұрын
I'll go halvsies on that mic.
@finglisCave
@finglisCave Жыл бұрын
We needed to use the available economic oil to build the renewable infrastructure out in parallel (35 years ago) we didn't do it, we just set fire to most of it. So this waste is now what is the root cause of the energy gap (Entropy bill?) Politics and economics prevent common sense always!
@RandomEyezEr-o2t
@RandomEyezEr-o2t Жыл бұрын
MIComplex needs oil, no way the machinery stops
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