Some comments I put on WPL
Duke the dog
I'm not anti-oil, I am a realist. Sixty USD /barrel is not bad if you can sell it.
You obviously think oil has a long term future?
There is a global over-supply of oil and global demand is falling. Very large amounts of oil have been found in West Africa (one third of recent global oil discoveries have been in West Africa) but they can't find markets for it.
Here is a graph of the likely trend in energy markets over the next 20 years. (Note the decline in coal and oil and the increase in gas)
http://peakoil.com/consumption/tech-talk-the-bp-energy-outlook-2035
Trillion-dollar question: Is Big Oil over-investing in high-cost ...
reneweconomy.com.au/.../trillion-dollar-question-is-big-oil-over-investin...
May 21, 2014 - Note that reducing global oil demand by the early 2020s is essential to limiting .... electric vehicle deployment, curtailment of oil consumption subsidies, etc.
IEA: New normal for oil as cheap prices fail to ignite demand ...
www.carbonbrief.org/.../iea-new-normal-for-oil-markets-mean-cheap-oil...
Feb 11, 2015 - Fuel switching towards gas and electric vehicles are also a factor, the IEA says. ... The IEA echoes this argument, saying lower oil demand caused by efficiency
What is Saudi Arabia not telling us about its oil future?
Resilience.org - 2 days ago
Some comments I put on WPL Duke the dog I'm not anti-oil, I am a...
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