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Oil outlook: unprecedented declining exploration (2 posts)

  1. truthmod
    Administrator

    The Looming Energy Shock

    The next oil crisis will arrive in 3 years or less

    https://www.peakprosperity.com/blog/109505/looming...


    There will be an extremely painful oil supply shortfall sometime between 2018 and 2020. It will be highly disruptive to our over-leveraged global financial system, given how saddled it is with record debts and unfunded IOUs.

    Due to a massive reduction in capital spending in the global oil business over 2014-2016 and continuing into 2017, the world will soon find less oil coming out of the ground beginning somewhere between 2018-2020.

    Because oil is the lifeblood of today's economy, if there’s less oil to go around, price shocks are inevitable. It's very likely we'll see prices climb back over $100 per barrel. Possibly well over.

    The only way to avoid such a supply driven price-shock is if the world economy collapses first, dragging demand downwards.

    Not exactly a great "solution" to hope for.

    Posted 2 months ago #
  2. mark
    Member

    Colin Campbell, the geologist who coined the term Peak Oil, predicted that a sign of Peak would be wild oscillations in price.

    He also had comments about 9/11 that are worth reading, I copied them to

    www.oilempire.us/911peakoil.html

    Posted 2 months ago #

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