Did we finally hit peak oil consumption? Not your grandaddies peak oil where the wells dry up, but where the demand dries up due to electric cars and renewable energy.
Even before the pandemic, oil demand was flatlining. We still aren't even at pre-pandemic production levels.
If demand "dried up" we wouldn't have gorillion dollars a gallon gasoline.
>electric cars and renewable energy
Require significant investments on governmental and personal level.
The currrent situation can be best summarized as the precipice of total economic horror.
Funny how that works. The less people that buy gasoline, the more expensive it becomes.
So does oil.
oil hoax
youtu.be
Agricultural product heated biomass in to inflame able gas and liquid ("oil") exist .
Crude oil- does not exist it is a jew rat hoax about energy that we use.
And? There's already vast infrastructure and it's cheaper to get a shitty gas car than it is to get a shitty electric car. It's far easier.
You're not witnessing a natural oil consumption fall due to electric and renewables, you're witnessing a semi-engineered economic collapse.
Doubt it. They’re drilling like mad and the more they drill to get that $120 a bbl the price will begin to come down. They’ll keep drilling like that as long as the price stays above break even ($50)
Electric is already way cheaper though. Just requires infrastructure investment.
They aren't drilling like mad. Production hasn't reached pre-pandemic levels, so they're not even using their pre-existing sites.
>Just requires infrastructure investment.
Which, as we established, is not going to happen in an economic disaster. Nor are people going to be able to afford electric cars at that scale, during said disaster.
It's already happening worldwide.
no demand is back big time (part of why oil is so expensive, they didn't expect demand to snap back so fast and have been caught with their pants down)
nice thinly veiled ev propaganda thread though
it will never fully replace oil and internal combustion
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what oil? You mean numbers on the screen?
Yes, I can see Africans lining up to buy a single electric car with their whole city's savings clear as day.
Muammar Gaddafi growing plants and make Oil - agricultural product
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There are many petrochemicals/plastics that are made from oil. Usually people associate oil consumption with fuel, and forget about things like PVC pipe, phone cases, paints, and packaging material. Useful chemicals, and superfluous plastic wrap are everywhere, so the demand will never completely "dry up" for oil. It might lower, but it'll never go away since there are few alternatives other than things like ethanol.
youtube.com
plastic made from plants differ, it actually exist
zoomers cant afford cars...
Now wait a minute. In summer and winter there are power failures already and you think everyone trying to charge their car is going to make that better? Whee will all that extra power come from? What about ships, will they pull up and recharge batteries that add tons of weight to a cargo ship
That's not how it works lol
>demand dries up due to electric cars and renewable energy.
MUHHAHAHAHAHHAHAHAHAH
Idk why I have to explain this to you Chuds, but it's not the amount of oil we are drilling; it's the refining capacity of the world, which is currently crippled thanks to two things:
1)Ban on imported REFINED Russian oil
2)refineries still shut down since covid, where demand all but dried up
Its literally this simple
No, how did you even come to that conclusion?
If demand was low, the prices would go down. Oil is expensive now.
This is on the production side, there are 999 articles about what's going on. Basically they are keeping production down on purpose, much below the demand, and enjoy the profits from the resulting high prices.
Basically the pandemic shock and the resulting negative oil prices scared the hell out of the arabs, they're convinced now that oil is going down it's just a matter of time. So they're done playing nice guy and "supporting the world economy". They decided to limit supply, and to extract every last dollar the rest of the world, while everyone still relies on oil.
peak demand is some sort of gaslighting by the elite.
peak oil supply is probably happening right now.
China has its own oil and gas station and they will never run out or deal with high gas prices. Russia continues to pump and sell and they got plenty