US forces have seized an oil tanker off the coast of Venezuela, in a major escalation of Donald Trump’s four-month pressure campaign against the South American country’s dictator, Nicolás Maduro.
US forces have seized an oil tanker off the coast of Venezuela, in a major escalation of Donald Trump’s four-month pressure campaign against the South American country’s dictator, Nicolás Maduro.
How much oil do we truly have left in the world. When I was a kid I heard we would run out of in 2000s. Don’t remember if it was 2030 or 50 could been longer. But just how much?
That was the peak for the cheap oil. Now we’re working on the peak for the medium to expensive oil. They kinda blend into each other, but the price at the pump goes up a lot more.
You heard about peak oil, not oil exhaustion. We hit peak extraction around 2008ish but added new extraction technologies like shale oil and since then we have no expectations of hitting a peak extraction any time soon.
Now the expectation is that consumption will hit a peak and collapse oil prices sooner than extraction will hit its peak. This is expected due to electricit cars and green energy production reaching a sufficient volume to make oil less in demand.
Enough to destroy life on earth if it’s all burnt or turned into plastics. Giant reserves have been discovered in a few places including Antarctica. We didn’t know about these when you or I were kids.
How much of the world is left if we keep burning oil is the relevant question now. We’ve found lots more