Off-topic > The rest

Peak Oil and Climate Change

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I used to think PO would save the Earth's climate.
Now I'm not so sure.
Here is Greenpeace's take:
What's yours?

I also had high hopes for PO, but alas, I underestimated human ingenuity insanity.  ;)

Shale Oil Companies taking a beating:


--- Quote from: Tom_Mazanec on May 23, 2019, 06:54:31 PM ---Shale Oil Companies taking a beating:

--- End quote ---
The business model was to borrow 100% of the capital required. Any surplus cash paid out as share buybacks dividends management payouts etc. If oil price stays up or increases and borrowing costs stay stable or decrease the game can continue until....

The break-even price quoted is perfectly sensible if the business is properly capitalised with equity.

BUT.....  Greed and stupidity rule, OK?

I always thought that the irony of reducing energy use and switching to renewables as much as possible (on a personal level), is that demand for oil is reduced and thus the oil price goes down. In a way, mitigating climate change, delays peak oil, causing more climate change. Carbon fee-and-dividend would eliminate the irony, of course.


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