The Petroleum Truth Report

Reading Fossil Future was a painful experience for me not because of Epstein’s positions but because the book is flawed and dishonest journalism.

Epstein’s case is based on a deep state organization that has created and spread fake news about fossil fuels and climate change.

If financial success were as simple as the memes that often guide investors, everyone would be rich.

Goldman and most analysts are using an outdated paradigm for oil-market dynamics and price formation.

The sooner we stop expecting a miracle of technology or a quick transition to renewable energy, the better we will be able to cope with a more difficult energy future.

The market is pricing in the more-likely case that China’s long period as a driver of oil growth is near its end.

Magical thinking about the possibility of nuclear fusion in the future does nothing to address our bad energy behavior today.

Oil prices are not returning to $100 nor is the economy returning to normal.

There is little flexibility to modify the kind of crude oil input or distillate yield once the refinery is built. Suggestions by some people to re-design, to build new refineries, or to use new technologies to boost diesel output are not realistic.

I’m not suggesting that everyone needs to become an energy expert. I’m saying that memes are a lazy approach to something too important to be lazy about.