Quote from: TDoS on Feb 13, 2024, 05:26 PMThe EIA doesn't give a crap about financing and whatnot, they aren't drilling for oil. They just collect info that allows them to say something that I've never seen a peak oil advocate kick out. You've been around for awhile, have you? The only one I can remotely think of, and containing orders of magnitude less detail, was put out by the IEA some decade or more ago. Other than that, none of the internet talking heads have anything to match that one, let along the one I referenced.

EIA information is only as good as what the oil companies give them, and the agency serves the industry.  Regulatory capture on steroids there, just like the SEC and investment banks.  The information they publish gets regularly revised later, usually in the negative direction.

Now, let me try to explain this in classical terms.  If you assume that shale oil and tar sands are distributed out globally in similar proportion to the NA continent, there should be even more of this stuff under the dirt of 4 other continents than under this one.  Then, given both the energy majors and the TBTF Banks are multinational, if there was profit in extracting this oil, the banks would still be loaning out money to them to pump it up.  But they are not.  Why?  Because they weren't making money on it here when they did it!  Lots of drillers went BK and wells were shut in.  They won't star lending money for this type of extraction again anywhere unless and until the market price goes up to $100 or more and holds there without the economy cracking.  There's no conspiracy here, it's just not profitable.

RE