Art Berman
Goehring and Rozencwajg’s claim of Permian basin depletion is patently false.
An energy transition will have little net effect on society’s material footprint on the planet.
The conclusion is clear: carbon emissions and overshoot of planetary boundaries are unlikely to decrease as long as world GDP and population continue to increase.
We should not realistically expect any of the current approaches to climate change to result in productive outcomes. We must first be honest with ourselves.
Demand is weak enough that Saudi Arabia needs to cut 1 mmb/d but OPEC projects demand growth to a record 103 mmb/d in 2023.
The solution to climate change may not really be about logical arguments, cost-benefit analysis, or good versus evil. It’s a psychological problem.
The market has given up on the long-awaited China demand rebound.
That is not a win for fossil fuels but rather a reflection on of how difficult it will be for humans in a renewable energy-based future. Pretending it is otherwise is simply not helpful.
It is presumptuous to think that the world’s largest commodity market can be managed. It’s impossible.
Civilization should already be in collapse at the oil EROI of 4.2 that Murphy et al incorrectly calculate.
A.I. experts are warning us about a black swan event. We’ve seen a few of those just in the last 15 years.
What part of a bear market don’t oil analysts understand?