*Geological* peak oil is still a thing. Just finished watching an Al Jazeera thing explaining that big OPEC producers like Saudi Arabia were over-producing to put American unconventional oil producers out of business, as they are only viable at the much higher prices of a few years back. They said most OPEC nations were only profitable at around $60 a barrel, the same price that grabbed headline attention and the attention of the NSW Cross- Benchers my Sydney Peak Oil team briefed a decade ago. $60 is where we *should* be so that the average producers like Venezuela can make money.
What all this screams to an old peak oiler like myself is that we’re still at geological peak oil, despite crashing oil prices. This is an OPEC lead economic war against unconventional oils that are only profitable well *above* the sweet-crude breakeven of $60 a barrel. But here’s the thing. Peak oil isn’t the most pressing issue, as in a real crisis we could kick start Coal-To-Liquids. There’s the real danger. CTL and unconventionals dump far more carbon into the atmosphere. Peak oil will bump around through the economy in bizarre counter-intuitive ways like today’s *low* oil price, but climate change is the real monster lurking in the background.
We could beat climate change AND peak oil by switching to nukes + boron cars. Exxon will just have to switch to becoming Exxon Sanitation Inc, the guys that recycle our rubbish through a plasma-burner, to stay in business. Nukes, boron, & plasma burners all described in “Prescription for the Planet” below. (Free PDF)
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