Item of General Interest
I have uploaded a new presentation that I gave June 16, 2018, at the BioPhysical Economics Conference. It is called Insights Regarding the Operation of the Energy Economy.
Tag Archives: oil demand
Our Latest Oil Predicament
It is impossible to tell the whole oil story, but perhaps I can offer a few insights regarding where we are today. [1] We already seem to be back to the falling oil prices and refilling storage tanks scenario. US crude oil … Continue reading
Posted in Financial Implications
Tagged oil demand, oil glut, oil prices, oil storage, recycling
2,023 Comments
$50 Oil Doesn’t Work
$50 per barrel oil is clearly less impossible to live with than $30 per barrel oil, because most businesses cannot make a profit with $30 per barrel oil. But is $50 per barrel oil helpful? I would argue that it … Continue reading
The real oil limits story; what other researchers missed
For a long time, a common assumption has been that the world will eventually “run out” of oil and other non-renewable resources. Instead, we seem to be running into surpluses and low prices. What is going on that was missed … Continue reading
Posted in Financial Implications
Tagged EROEI, Harold Hotelling, M. King Hubbert, oil demand, oil limits, oil price, peak oil
1,243 Comments
Why oil under $30 per barrel is a major problem
A person often reads that low oil prices–for example, $30 per barrel oil prices–will stimulate the economy, and the economy will soon bounce back. What is wrong with this story? A lot of things, as I see it: 1. Oil … Continue reading
Posted in Financial Implications
Tagged low oil prices, oil demand, oil production, oil supply, recession
2,298 Comments
Why “supply and demand” doesn’t work for oil
The traditional understanding of supply and demand works in some limited cases–will a manufacturer make red dresses or blue dresses? The manufacturer’s choice doesn’t make much difference to the economic system as a whole, except perhaps in the amount of … Continue reading
Posted in Financial Implications
Tagged debt defaults, low oil prices, oil demand, oil production, peak oil, supply and demand
1,389 Comments
