Collapse of the US fracking industry
Posted: 04 Apr 2020, 13:53
The article didn't mention a single service company being effected.UndercoverElephant wrote:https://qz.com/1830456/how-the-coronavi ... -industry/
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The article didn't mention a single service company being effected.UndercoverElephant wrote:https://qz.com/1830456/how-the-coronavi ... -industry/
The Saudi's didn't previously drive the price of oil under that of the cost of new US production. Or Canadian.kenneal - lagger wrote:The Saudis have been trying to disrupt it for years but haven't managed to make a difference.
Actually when you consider the advent of viable electric cars and trucks and advances in solar and wind power, matching demand to natural decline now seems quite possible and market forces will more then likely achieve it.ReserveGrowthRulz wrote: The main way to keep oil in the ground, a common and laudable goal, is to continue a decreasing demand profile lockstep with natural decline. Environmentalists dream come true. Low probability of occurrence.
Could be.vtsnowedin wrote:Actually when you consider the advent of viable electric cars and trucks and advances in solar and wind power, matching demand to natural decline now seems quite possible and market forces will more then likely achieve it.ReserveGrowthRulz wrote: The main way to keep oil in the ground, a common and laudable goal, is to continue a decreasing demand profile lockstep with natural decline. Environmentalists dream come true. Low probability of occurrence.
Well going from 10,000 jets in the air every day down to a 1000 or less will certainly cut demand some. I was already adverse to air travel with their sardines in a can practices but now I can't see many willing to get inside a jet for any price.ReserveGrowthRulz wrote:Could be. Exactly what the peak oil demand folks have been hypothesizing as they watched oil demand growth decelerate. Until the virus came along anyway, when demand dropped from an exogenous mechanism, but that could mean we just arrive at peak oil demand now instead of within a few years.vtsnowedin wrote:Actually when you consider the advent of viable electric cars and trucks and advances in solar and wind power, matching demand to natural decline now seems quite possible and market forces will more then likely achieve it.ReserveGrowthRulz wrote: The main way to keep oil in the ground, a common and laudable goal, is to continue a decreasing demand profile lockstep with natural decline. Environmentalists dream come true. Low probability of occurrence.