Seems most of the peak oil crowd is unable to recognize how the energy landscape has changed; they still say the world will be short of energy and hydrocarbons soon. The cornucopian’s forget the planet is finite. Meanwhile, world oil production looks to be on an undulating plateau, the shape of which will be determined by price. Has anyone else noticed the distinct lack of volatility in the oil price? The new price deck changed consumer and producer behavior. End of an Era: The Death of Peak Oil. An Energy Revolution, American-Style (The Boston Company).
The supply side of the new era is illustrated by Chevron strikes oil more than 6 miles below sea level at Fuel Fix. Six miles!
The demand side is shown in Vehicle Miles Driven: Population-Adjusted Hits Yet Another Post-Crisis Low by Doug Short.
“The days are gone when economic growth meant necessarily similar increases in demand for petroleum products.” John Hanger
U.S. economy and electricity demand growth are linked, but
relationship is changing at the EIA.
U.S. oil boom protects world from supply shocks: IEA at Financial Post
Brent-WTI spread narrows – driven by US crude transport fundamentals at Sober Look.
Monday links: the pain trade at Abnormal Returns.
Iron ore, met coal prices resilient despite powerful Chinese agency’s oversupply predictions at Mining.
How would a new Quebec royalty regime be different from Cyprus taking bank deposits? Mining Weekly