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Rumblestiltskin@lemmy.ml

Peak oil in US very soon (www.youtube.com)

submitted 3 weeks ago by humanspiral@lemmy.ca to c/economics@lemmy.ml

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perhaps by end of this year, from July EIA. EIA last forecast 2027, that was updated from 2032 in February.

OP says this means that the US will need to import oil to make up the difference, but EVs can help. Solar/wind can help for lower NG (often part of oil drilling byproduct) use.

EVs are only a "negligeable factor" (OP words) in US. Every other developed continent, they are booming.

OP is mostly stupid, my apologies, but the peak oil warning is more real coming from a climate terrorist pigfucking moron.

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[–] davel@lemmy.ml 3 points 3 weeks ago (1 children)

Unfortunately the graph below is five years old. But look at how (1) we may have already reached peak consumption, (2) our exports have risen significantly, (3) our imports have dropped, and (4) our exports just surpassed our imports. I believe that our exports have risen much more in the last five years, since the Ukraine war started, specifically to Europe.

I wish I had an updated graph, because it ends where our flattened consumption reached parity with our sharply rising production. I’d really like to know what happened since.

In any case, because the US is now (I think) exporting more than it’s importing, maybe that creates some wiggle room for a peak oil shock, and if we truly have reached peak consumption already, that makes reaching peak production less anxiety-inducing.

https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php

[–] humanspiral@lemmy.ca 2 points 2 weeks ago

Price may have a lot to do with peaking US production. Competing exports are driving down the price, as global miles driven is going down from EVs and hybrids.

You're right that this does not have to turn into a shock. The policy all-in on area with low likely development is relying on scarcity that is more likely to be relieved with imports than development for price stability. The dead ender energy all-in is a big strategic mistake that will contribute to US collapse and structural decline.