Quote from: K-Dog on Dec 21, 2023, 03:54 PMQuote from: RE on Dec 21, 2023, 02:36 PMEmissions of CO2 have never been higher. Reality is in the numbers. Covid was a bump on the road to ruin.Quote from: TDoS on Dec 20, 2023, 08:22 PMThose EVs must have put quite a dent in demand for peak oil half decade ago not to have elicited higher prices.
I don't think it's so much EVs as demand that never returned after the Covid Collapse in 2020. That squashed a lot of the Chinese demand for oil for factories and construction.
RE
CO2 mesured in the atmosphere lags the actual emissions by a few years because it takes a while for it to distribute out. Plus Oil isn't the only contributor to this number, coal and NG contribute significant amounts for electricity generation.
All the production graph says is that Peak Oil PRODUCTION came in 2018, not how much carbon was burned from all sources and contributed to the current measurement. Considering that global population has increased at the same time, that tells us per capita consumption of oil must have decreased as well, except for the amount in storage which is not that huge.
At least in the FSoA, this hasn't affected the price of gas at the pump that much, likely because total global demand is down and happy motorists here are driving fewer miles. Unless there is some kind of economic miracle, demand will continue to drop. It's called Demand Destruction, and I've written about it many times in the debates between Inflationists and Deflationists.
RE