- Hurricane Harvey lingering effects
- OPEC + Non-OPEC cutbacks kick in
- Bigger SUVs and Trucks now on the road
In Vancouver Canada they’re paying like $6/gal.
The movie that won best picture should be called The Shape Of Gasoline.
The Carbon Tracker Initiative predicts that the world will need $4.8 trillion in investment in oil, gas and thermal coal between 2018 and 2025. I’m no genius, but that sound like we’ll need at least $12 trillion invested by 2040 under BAU.
Yet we have to reduce emissions 100% in 20 years to stay under 2 C.
Kevin Anderson says we have just a 5% chance of doing this.
James Hansen says 2 C = DISASTER.
We can barely scrape the minerals and metals we need to build 30 million electric vehicles by 2025. How long do you think it will take to replace the 1.2 billion cars that are on earth right now. How many more cars will be earth in 20 years?
But hang on, it gets worse. Make America Great Again is just getting started. Over the next three years, the U.S. will supply 80% of the world’s demand growth, the IEA says in its newly-released Oil 2018 annual report. Canada, Brazil and Norway will cover the remainder, leaving no room for more OPEC supply. OPEC’S fucked.
Why Is The EU Spending Billions On A Gas Pipeline If It Wants To Fight Climate Change?
America spends $1 trillion / year in tax money on the infrastructure needed to make states fail. Does that sound like someone who wants to save the earth? The Pentagon is the largest user of fossil fuels in the world.
The IEA is still forecasting that the U.S. will be the number one oil exporter by 2023 at 12.1 million bpd. This picture is clouded because there are rumors that either shale oil will pop like another bubble, or that some new technology will unlock tons more crude.
Every other green energy article talks about how we can turn waste and plants into natural gas. There’s nothing green about it, natural gas is a planet killer.
I strongly think we’ll hit a financial bubble soon enough. Maybe followed by an oil glut. The volatility risks are high.
I strongly suspect that the 1970s prediction of collapse by 2025 still holds true.