longweekend58 wrote on Jan 4
th, 2016 at 7:31am:
you really should join the climate crowd prozac_now. you have the perfect 'logic' set up already. peak oil - where production is insufficient to meet demand - has already occured? that is why we have a massive GLUT of oil now?
sometimes I think you are insane. then there are moments like this where doubt is removed.
As previously stated, that is your “belief” and as usual, there is nothing to back it up!
Also, as previously stated, "old Oil" has Peaked, But shale Production in the USA did push overall Production slightly higher, for a limited time & now that the Price has hit the skids, so too has the Shale Oil Production!However, the Oil Price hit the skids MAINLY due to Demand Decline, particularly Demand (or lack of it) in the USA & Europe! The fact is most countries Oil Demand is in Decline, as are their Real Economies.
The reason most countries haven't yet collapsed again, is the massive Stimulus programs raised in the US, Europe, China & many other countries, which also raised Debt levels, which are now overstretched & I suggest will finally break, THIS YEAR!
Finally, if your look at the facts (which you don’t because you have your beliefs), which are readily available, then you would find
Oil Consumption did actually increase globally between 2007-2014, But almost all of that rise came via China, which has also started to Decline since 2014.In fact, following apply (Thousand Barrels Per Day) – Latest figures available are either 2013 or 2014Country/Region ConsumptionUSA 2005 (Peaked) – 20,802 ; 2013 – 18,961
Europe 2005 (Peaked)- 16,404 ; 2013 – 14,296
China 2005 - 6,795 ; 2013 – 10,480
Middle East 2005 - 5,988 ; 2013 – 8,083
Global 2005 - 84,588 ; 2013 – 91,195
Australia 2005 - 964 ; 2014 – 1,080
Country/Region ProductionUSA Initially Peaked 1985 – 11,192, then fell to 8316 in 2006, before hitting 14,021 in 2014 -it is now again in Decline mode, as Shale slows
Europe 1999 (Peaked)- 7,295 ; 2014 – 3,870
China 2005 - 3,812 ; 2014 – 4,598
Middle East 2005 - 26,092 ; 2014 – 27,836
Global 2005 - 85,099 ; 2013 – 93,021
Australia 2000 (Peaked) – 828 ; 2014 - 473
Again as previously stated, this info is readily available, TO ANYONE WHO WANTS TO LOOK BEYOND THEIR OWN BELIEFS!
Finally Longy/Maria, I note you don't seem to have the answer to the basic query raised on the following thread -http://www.ozpolitic.com/forum/YaBB.pl?num=1451723678/all