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Re:The global oil market is broken, drowning in crude nobody... by Synaesthesia on Sunday March 29, 2020 @09:22AM (#22718777)
Turns out the world has loads of oil, and is still discovering more, and even more natural gas, coal and so on. We’re not running out anytime soon, which is actually a problem.
Re:The global oil market is broken, drowning in crude nobody... by wazoox on Sunday March 29, 2020 @09:35AM (#22718887)
Nope, discoveries worldwide peaked 4 decades ago. Production follows discoveries with a 4 to 5 decades delay. For scale, we need to find out about a new Saudi Arabia every year. We simply don't.
Re:The global oil market is broken, drowning in crude nobody... by crimsonalucard on Sunday March 29, 2020 @09:26AM (#22718815)
I've read we're right at the peak with shale. If we continue normal usage/production sans the effects of covid-19, we would've hit the drop off (for shale) of the Hubbard curve some time before 2025.

source: https://www.bloomberg.com/news/articles/2019-10-14/peak-shal...