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A comment on The global oil market is broken, drowning in crude nobody needs. Parent comment

Re:The global oil market is broken, drowning in crude nobody... by lordgrenville on Sunday March 29, 2020 @09:43AM (#22718934)
My impression is that there are vast amounts of oil at increasing levels of extraction cost. As cheap oil is used up, the price rises and it becomes financially viable to extract more expensive reserves. Eventually, the remaining oil may be so costly to extract that renewable energy will be cheaper, but it seems unlikely that we will ever extract the last drop of fossil fuels.

(Ignoring all the other reasons for cost fluctuations.)

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Re:The global oil market is broken, drowning in crude nobody... by hexedpackets on Sunday March 29, 2020 @11:44AM (#22719882)
Renewables are already cheaper - solar in the US is the cheapest form of energy in the world. The remaining challenges are improving batteries for storing it, and continued panel efficiency to reduce the amount of space needed for generating solar power.
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Re:The global oil market is broken, drowning in crude nobody... by JoeAltmaier on Sunday March 29, 2020 @09:44AM (#22718942)
Not to mention if Methane Hydrate comes online - endless natural gas for the price of a drill and pipeline.
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Re:The global oil market is broken, drowning in crude nobody... by ReptileMan on Sunday March 29, 2020 @10:23AM (#22719201)
In that case also invest in beachfront properties in northern russia and Antarctica. The weather there will be awesome
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Re:The global oil market is broken, drowning in crude nobody... by JoeAltmaier on Monday March 30, 2020 @08:33AM (#22727474)
Do so then, because Japan is already tapping it. Estimated 6X the energy there, than all the oil reserves we ever discovered. Seems inevitable.
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Re:The global oil market is broken, drowning in crude nobody... by howlin on Sunday March 29, 2020 @03:35PM (#22721943)
You'd need a matching property in the southern hemisphere for the dark winters.
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