Quote from: RE on Sep 15, 2024, 08:21 PMAt least you acknowledge we hit Peak Oil 6 years ago. ;DAbsolutely. There is no disputing that 2018 is the most recent global peak oil. #6 of this century, claimed or occurred. Only the rest of the price/demand relationship can dictate if it holds though.
RE
Currently a lack of increasing demand seems to have brought this particular boogey man to heel for 6 years. Quite a surprise to some of those claimed industry experts if they are still alive I imagine.
Quote from: Jan Lundberg vintage 2005The scenario I foresee is that market-based panic will, within a few days, drive prices up skyward. And as supplies can no longer slake daily world demand of over 80 million barrels a day, the market will become paralyzed at prices too high for the wheels of commerce and even daily living in "advanced" societies. There may be an event that appears to trigger this final energy crash, but the overall cause will be the huge consumption on a finite planet.
EIA link:
https://www.eia.gov/international/data/world/petroleum-and-other-liquids/annual-petroleum-and-other-liquids-production?pd=5&p=0000000000000000000000000000000000vg&u=0&f=A&v=mapbubble&a=-&i=none&vo=value&&t=C&g=00000000000000000000000000000000000000000000000001&l=249-ruvvvvvfvtvnvv1vrvvvvfvvvvvvfvvvou20evvvvvvvvvvnvvvs0008&s=94694400000&e=1704067200000
An interesting aside is that, some 19 years later, the world is still making about 81 mmbbl/d (according to the 2023 annual number from the EIA). So if you wanted to discuss a peak, the one in 2018 (about 82.9 mmbbl/d) in the context of the 2005 vintage hysteria, it seems like you could call it all 20 years of plateau, +/-, if someone wanted to.
In either case, its a good thing that the world hasn't been needing much oil because the environment will only be a better place as we continue to grow population, and obvious now need much less oil per person!