View Single Post
Old 05-17-2017, 03:41 PM   #388
GGG
Franchise Player
 
GGG's Avatar
 
Join Date: Aug 2008
Exp:
Default

Quote:
Originally Posted by accord1999 View Post
I think the most impressive graphic I've ever seen of the scale of oil is this one that compares the value of oil to all useful metals. That's the scale of how important oil is to human civilization and how hard it will be to replace it with any conceivable form of energy that we have today.

Though its marginal demand that sets the marginal price. At 70 million barrels of demand oil is likely $30 dollars a barrel for 10 years before gradually increasing. Any technology that can replace 20% of the oil market will be a huge disruption. Though sustaining production in Alberta after a few bankruptcies to get rid of debt will do quite well in the decline phase of supply.
GGG is offline   Reply With Quote