Insight and inspiration in turbulent times.
On this episode, petroleum geologist Arthur Berman returns to discuss recent diesel shortages and go into depth on the importance of diesel and the complexity of getting it and other products from a barrel of crude oil.
Haven’t we been hearing from the oil industry and from government and international agencies that worldwide oil production has been increasing in the last several years? The answer, of course, is yes. But, the deeper question is whether this assertion is actually correct.
Wonders-yet-to-come seem to dominate U.S. energy policy. There is talk of changing laws to allow the exporting of oil and natural gas. There is talk of American energy independence. There is talk of an American energy renaissance and the ruination of OPEC. It is all very breathless and essentially baseless.
I believe that the Syrian regime’s use of chemical weapons is merely a pretext for American intervention. One always suspects that oil is the real issue when it comes to the Middle East. So, let’s see if that’s the case here.
Never let the facts get in the way of a good story. That’s the credo of the oil and gas industry as it continues to lobby for increased oil and natural gas exports from the United States.
The famous Danish physicist Niels Bohr once humorously observed, "Predictions are very difficult, especially about the future." And so, as the world considers yet another rosy oil supply forecast, this time from the Paris-based International Energy Agency, it is worth reviewing the agency’s record.
So here is the dirty little secret of our civilization: It runs…energy per unit time…In other words, having one billion dollars in your checking account does not help you with purchasing a Rolls Royce with cash if your daily withdrawal limit is 100 dollars.
Mark J. Perry caused a minor sensation on October 22, 2012 when he posted a blog about record-breaking fossil fuel production in the United States.
