Recent Topics
Silicone containing waxes
by mjoekingz28
06/19/18 09:44 AM
Matrix totaled
by circuitsmith
06/19/18 08:32 AM
Door rust problems
by Dave Sherman
06/19/18 07:51 AM
2016 Honda Civic problems
by dbias
06/19/18 07:39 AM
Royal purple 75-140 in a subaru rear
by 91camarosRS
06/19/18 07:32 AM
OCI. With short trips. Nissan 4 liter
by Gawardawg
06/19/18 06:52 AM
Approach Watching on the Beach @ St Maarten ...
by LoneRanger
06/19/18 06:41 AM
Honda Accord Needs Shocks; Front, Back, or Both?
by tc1446
06/19/18 05:50 AM
How much oil does your oil filter hold?
by Snagglefoot
06/19/18 05:44 AM
better day
by mx5miata
06/19/18 05:26 AM
BRAVO to Officer Wheeles......
by Sayjac
06/19/18 05:17 AM
People Watching ....Airport style.
by ZZman
06/19/18 04:24 AM
Subaru's at play...
by OneEyeJack
06/19/18 03:50 AM
Treating a 2003 Jetta
by llmercll
06/19/18 01:41 AM
Brakes not working - brake pedal sinks
by tookien
06/19/18 12:42 AM
Dave thinks I can make it 12--15k
by Marco620
06/19/18 12:26 AM
'05 Impala front wheel "squeal". Cost !
by Lee4212
06/19/18 12:16 AM
One Dollar Per Gallon?
by Y_K
06/18/18 11:53 PM
Walmart Tightening up Returns
by John_K
06/18/18 10:21 PM
flare nut wrench set
by spasm3
06/18/18 09:46 PM
Newest Members
JustaDude, 3horseman, Firedog45, WtsTacoma01, Orion62
65265 Registered Users
Who's Online
80 registered (badtlc, beanoil, andyd, BAJA_05, AndyB, 2009Edge, 6 invisible), 1520 Guests and 36 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
65265 Members
67 Forums
285586 Topics
4765910 Posts

Max Online: 3590 @ 01/24/17 08:07 PM
Donate to BITOG
Page 1 of 2 1 2 >
Topic Options
#4596203 - 12/06/17 02:32 PM Peak oil? Majors not buying threat from renewables
wemay Offline


Registered: 04/04/12
Posts: 8862
Loc: Southeast Florida
https://www.reuters.com/article/us-oil-m...s-idUSKBN1D80GA


HOUSTON/LONDON (Reuters) - Two decades ago, BP set out to transcend oil, adopting a sunburst logo to convey its plans to pour $8 billion over a decade into renewable technologies, even promising to power its gas stations with the sun.

That transformation - marketed as “Beyond Petroleum” - led to manufacturing solar panels in Australia, Spain and the United States and erecting wind farms in the United States and the Netherlands.

Today, BP (BP.L) might be more aptly branded “Back to Petroleum” after exiting or scaling back its renewable energy investments. Lower-cost Chinese components upended its solar panel business, which the firm shed in 2011. A year later, BP tried to sell its U.S. wind power business but couldn’t get a buyer.

“We made very big bets in the past,” BP Chief Executive Bob Dudley told Reuters in an interview. “A lot of those didn’t work. We’re not sure yet what will be commercially acceptable.”

The costly lesson of the biggest foray yet by an oil major into renewable energy was not lost on rival firms.
Even as governments and environmentalists forecast a peak in oil demand within a generation - and China and India say they may eventually ban gasoline and diesel vehicles - leaders of the world’s biggest oil firms are not buying the argument that their traditional business faces any imminent threat.

A Reuters analysis of clean energy investments and forecasts by oil majors, along with exclusive interviews with top oil executives, reveal mostly token investments in alternative energy. Today, renewable power projects get about 3 percent of $100 billion in combined annual spending by the five biggest oil firms, according to energy consultancy Wood Mackenzie.

BP, Chevron (CVX.N), Exxon Mobil (XOM.N), Royal Dutch Shell (RDSa.L) and Total (TOTF.PA) are instead milking their drilling and processing assets to finance investor payouts now and bolster balance sheets for the future. They believe they can enter new energy sectors later by acquiring companies or technologies if and when others prove them profitable.

“There is no sign of peak demand right now,” said Chevron CEO John Watson, an economist by training, who is retiring in early 2018. “For the next 10 or 20 years, we expect to see oil demand growth...”

Open Link above excerpt for full article.
_________________________
2017 Hyundai Sonata Sport 2.4L
2013 Hyundai Santa Fe Sport 2.0T

Top
#4596219 - 12/06/17 02:54 PM Re: Peak oil? Majors not buying threat from renewables [Re: wemay]
Cujet Offline


Registered: 02/15/03
Posts: 7144
Loc: Jupiter, Florida
The bottom line remains. It is very difficult to compete in the real world, with the energy density (energy by mass) and specific energy (energy per volume) of petroleum products.

Hydrogen may have a shot at competing with petro fuels as it's almost 3x more powerful by weight, but that will take some significant effort to manage such a difficult to handle product. Better to mix in some carbon.....
_________________________

Top
#4596261 - 12/06/17 03:50 PM Re: Peak oil? Majors not buying threat from renewables [Re: wemay]
Reddy45 Offline


Registered: 08/15/08
Posts: 2963
Loc: USA
I don't know how this won't get political and locked in a few hours... but yes the energy density of fossil fuels can't be beat.

Top
#4596264 - 12/06/17 03:53 PM Re: Peak oil? Majors not buying threat from renewables [Re: wemay]
javacontour Offline


Registered: 06/26/03
Posts: 10306
Loc: Illinois
As long as we pack ourselves into 1.5 ton vehicles to travel, we will need energy dense fuel sources.

We cannot store and recharge electrical energy as fast as we do carbon based fuels. Until we can store and move the products of renewable energy efforts in a manner similar to that of carbon based fuels, things will remain largely the same.
_________________________
network down, IP packets delivered via UPS -BOFH

Top
#4596272 - 12/06/17 04:07 PM Re: Peak oil? Majors not buying threat from renewables [Re: wemay]
KGMtech Offline


Registered: 10/17/14
Posts: 964
Loc: SW Ontario Canada
Fracking has had HUGE impact to the oil reserves. Electric cars are sexy, but are only 1% of total market, not likely to be even 5% in the next 15 years.

When electric cars offer: 800km range, while heating or cooling interior when outdoor temps are -32C or +35C, with charge times less than 30 minutes...and can be purchased without government grants (incentives) then I will be tempted.
_________________________
2017.5 Nissan Rogue SV FWD
2013 Nissan Maxima SV
2009 Ford Flex SEL FWD
1984 Yamaha XJ750RL

Top
#4596289 - 12/06/17 04:29 PM Re: Peak oil? Majors not buying threat from renewables [Re: javacontour]
PandaBear Offline


Registered: 08/05/02
Posts: 14211
Loc: Silicon Valley
Originally Posted By: javacontour
As long as we pack ourselves into 1.5 ton vehicles to travel, we will need energy dense fuel sources.

We cannot store and recharge electrical energy as fast as we do carbon based fuels. Until we can store and move the products of renewable energy efforts in a manner similar to that of carbon based fuels, things will remain largely the same.



In theory if chemical battery exist where incoming liquids are converted into out going liquid, you can quickly swap liquid at a station by pumping in and out. However you will need to deal with hazmat and other nasty stuff like spill related electrical shock, or something like that. Carbon based fuel and charging a battery whenever you stop is probably a better idea.

Or an over the head line with self driving car on the highway like your local trolley.
_________________________
"You keep asking questions PandaBear and you'll end up a vegetarian like my wife" - Camu Mahubah

Top
#4596327 - 12/06/17 05:25 PM Re: Peak oil? Majors not buying threat from renewables [Re: javacontour]
Cujet Offline


Registered: 02/15/03
Posts: 7144
Loc: Jupiter, Florida
Originally Posted By: javacontour
As long as we pack ourselves into 1.5 ton vehicles to travel, we will need energy dense fuel sources.


Ultimately, this is true. Interestingly, the Tesla Model S illustrated that we could drive large, powerful cars on just batteries. It thereby provides hope of a motoring future devoid of annoying and ultimately incapable "Elio" type vehicles. The Tesla's are not cheap, but they do work quite well.

With the current generation of 2170 cells, a near-doubling of range is going to be possible. Unfortunately, it's not cheaper...

A friend has 2 Tesla's and 10Kw solar grid-tie. One way to view it is that his solar array provides all of the power needed for all his driving. Total cost: $240K.
_________________________

Top
#4596395 - 12/06/17 06:49 PM Re: Peak oil? Majors not buying threat from renewables [Re: wemay]
BalticBob Offline


Registered: 11/27/16
Posts: 395
Loc: Texas
Electric cars, what a joke. You either burn fossil fuel directly in a gasoline/diesel engine vehicle, or burn fossil fuel in a electrical generating power plant to provide the electricity to charge electric vehicles. It takes massive, huge amounts of "on demand" electricity to charge the volume of electric cars the govt. wants on the roads.
Wind and solar won't do it, clouds and calm days seem to hinder the electricity generating process. I say go nuclear for power plants, it is clean, safe and glows in the dark.

Top
#4596414 - 12/06/17 07:18 PM Re: Peak oil? Majors not buying threat from renewables [Re: BalticBob]
anndel Offline


Registered: 05/28/09
Posts: 245
Loc: Hawaii, USA
Originally Posted By: BalticBob
Electric cars, what a joke. You either burn fossil fuel directly in a gasoline/diesel engine vehicle, or burn fossil fuel in a electrical generating power plant to provide the electricity to charge electric vehicles. It takes massive, huge amounts of "on demand" electricity to charge the volume of electric cars the govt. wants on the roads.
Wind and solar won't do it, clouds and calm days seem to hinder the electricity generating process. I say go nuclear for power plants, it is clean, safe and glows in the dark.


As it doesn't emit the so called "Green House Gas" that contributes to the so called "Climate Change."

Top
#4596422 - 12/06/17 07:24 PM Re: Peak oil? Majors not buying threat from renewables [Re: wemay]
Merkava_4 Offline


Registered: 01/30/07
Posts: 17501
Loc: Clovis, CA
The oil companies have something up their sleeves; otherwise they would've had Leon Musk killed.

Top
#4596457 - 12/06/17 07:47 PM Re: Peak oil? Majors not buying threat from renewables [Re: wemay]
Panzerman Offline


Registered: 12/16/06
Posts: 4203
Loc: Port Orange, Florida
Along as I keep seeing close outs on motor oil for .45 a qt. I am going to say Peak Oil is a scam. It never was a issue just a scare tactic to justify oil/ gas prices.
_________________________

2006 Dodge Ram 2500 Hemi 4x4
2016 Dodge Challenger Scat Pack

Top
#4596530 - 12/06/17 08:33 PM Re: Peak oil? Majors not buying threat from renewables [Re: wemay]
BrocLuno Online   content


Registered: 09/06/15
Posts: 5511
Loc: Kalifornia Kollective
I'm a bit more concerned with peak population ...

If we had 1/2 the people, we'd have resources galore. The issue is not oil ...
_________________________
Formerly in marine engineering. In an earlier life I owned my own petroleum tank truck, and hauled for the majors and independent's.

Top
#4596607 - 12/06/17 09:31 PM Re: Peak oil? Majors not buying threat from renewables [Re: BrocLuno]
bbhero Offline


Registered: 03/20/15
Posts: 4613
Loc: Virginia
Very, very true BrocLuno.
_________________________
Nissan Altima 3.5 Coupe Valvoline Advanced Full Synthetic 5w30 Federated Auto 4612ex
"Treat your family like your friends and treat your friends like your family."

Top
#4596669 - 12/06/17 10:51 PM Re: Peak oil? Majors not buying threat from renewables [Re: wemay]
Linctex Offline


Registered: 12/31/16
Posts: 6148
Loc: Waco, TX
Originally Posted By: wemay

“There is no sign of peak demand right now,” said Chevron CEO John Watson, an economist by training, who is retiring in early 2018. “For the next 10 or 20 years, we expect to see oil demand growth...”


That's gotta make all the environmentalists really happy.......
_________________________
"The evidence demands a verdict".
(Re:VOA)"it's nearly impossible to actually know the particular additives that are in there at what concentrations."

Top
#4596672 - 12/06/17 10:53 PM Re: Peak oil? Majors not buying threat from renewables [Re: javacontour]
Linctex Offline


Registered: 12/31/16
Posts: 6148
Loc: Waco, TX
Originally Posted By: javacontour
As long as we pack ourselves into 1.5 ton vehicles to travel, we will need energy dense fuel sources.


My motorcycle gets 57 mpg....

how come no one is pushing for "energy saving credits" for motorcycle riders?
_________________________
"The evidence demands a verdict".
(Re:VOA)"it's nearly impossible to actually know the particular additives that are in there at what concentrations."

Top
Page 1 of 2 1 2 >