Have we passed the scarce oil peak?


Have we passed the scarce oil peak?

I'm wondering if anyone else sees things as I do. Technology and scale keep making oil cheaper to drill and obtain, meaning oil gets more plentiful and cheaper. Demand will begin decreasing, as more vehicles and power generation goes electric. There are no areas of the world that can produce enough demand to soak up excess supply, like China did in the 2000s and early 2010s. Long term, is oil only destined to become cheaper?

Submitted March 15, 2017 at 12:03AM by lonelysojourn
via reddit http://ift.tt/2nDmU0g

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s