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.
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.