Whenever I think about reducing my stake here, I reread Dilip Hiro “Blood of the Earth” - page 32 always placates this thought.
A novel way to illustrate its sheer indispensability would be to compile a petroleum alphabet:
A for aspirin, B for benzene, C for cellulose, D for diesel, E for ethanol, F for fertiliser, G for gasoline, H for heating oil, I for ion exchange resin, J is for jet fuel, k is for kerosene, L is for lubricants, M is for methane, N is for nylon, O is for oxy-acetylene gas, P is for plastics, R is for resin, s is for solvents, T is for tar, U is for urea, V is for vsseline, W is for wax, X is for Xylene, y is for yarn, Z is for zippers - sorry Q.
It’s dispensable now and well into the future - EV’s are just a tip of the iceberg.
it predicted projected global output at 102m bpd in 2017 - this was almost reached in 2019 at 100m bpd. Not bad for a 2006 printed book. It also predicts an expected investment required of $100b per year to maintain this production for the next two decades even with the assumption of substantial increases in renewables. The last two years will have put a dent in this investment so will add to the squeeze.
well worth a read
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