Tuesday, January 19, 2016

PEAK OIL

With Iran about to unleash x,xxx,xxx barrels of oil/day on the market in a play for its share of the action following the lifting of sanctions by the US and the EU it appears that 'peak oil' is now an endangered species ... always assuming there was substance to the argument in the first place.

Oil at USD20 a barrel anyone; what will that mean to the world economy and what new shibboleth will the Greens come up with to replace it?


2 comments:

JC said...

The beauty of Green philosophy is that you don't have to change anything.. Stop Drilling!!

Ie, there's no point in drilling if we are at Peak Oil because we should be doing renewables from veges and if there's an excess of oil then you don't need to drill.

There's a few hundred trillions needed to tidy up the odds and ends but this can be picked up in a small tax increase on the rich so she's sweet.

JC

Paulus said...

I assume that it is a gamble by the Non US oil producers to take the price below the US self sufficient Fracking production.
Also it appears that Saudi are now trying to see their Oil company - I believe the largest in the world.
Must be trouble at Mill !