[Leeman4Gilmour]

Originally Posted by Tinordi

Remember when I was lambasted pages back for saying that oil demand will probably peak by 2030? According the Shell the peak could happen in 5 years:

https://www.bloomberg.com/news/artic...eak-in-5-years

Other news of interest, Exxon "debooked" (wrote down) 19% of global oil reserves last week. The largest share of the write down was from the oil sands.

http://www.bloomberg.com/news/articl...-extends-slump

Not to portend doom, but I think is quite likely that the growth phase of oil sands production is permanently over.

Just to clarify;

From the Exxon article;

About 3.6 billion barrels of reserves in the Canadian oil sands and the equivalent of another 1 billion barrels of oil in other North American fields may be in jeopardy if the average energy prices seen during the first nine months of 2016 persist

From the Shell;

And that peak may be somewhere between 5 and 15 years

But, still, a sign that the transition to a cleaner energy sources is continuing.