Skip to main content

View Diary: Peak oil and peak silliness (111 comments)

Comment Preferences

  •  The oil companies are not losing money (0+ / 0-)

    They are enjoying record profits. They know a lot more about this stuff than we do.

    Shifts to non-fossil fuels should cause a decrease in oil demand or at least a decrease in the rate of its increase. This should cause oil production to increase more slowly. This has nothing to do with the amount of oil in the ground, the supposed scarcity of which is the very basis of peak oil theory.

    I have tried to show in my other comments that oil price and oil production are only loosely coupled. I feel that reaching conclusions based on their ratio is a fool's errand.

    •  they are enjoying record profits due to (0+ / 0-)

      a) monopolistic control in some markets
      b) tax advantages other industries do not have
      c) subsidies other industries do not have
      d) relative price inelasticity of demand in certain uses and markets (billions of gas powered vehicles, oil fired electric plants, airplanes, use of plastics etc etc)

Subscribe or Donate to support Daily Kos.

  • Recommended (165)
  • Community (66)
  • Baltimore (49)
  • Civil Rights (38)
  • Bernie Sanders (37)
  • Culture (32)
  • Law (25)
  • Elections (25)
  • Economy (23)
  • Freddie Gray (23)
  • Education (22)
  • Hillary Clinton (22)
  • Racism (20)
  • Rescued (20)
  • Texas (20)
  • Labor (19)
  • 2016 (19)
  • Environment (19)
  • Politics (18)
  • Media (17)
  • Click here for the mobile view of the site