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#4643078 - 01/22/18 03:08 PM Peak Oil Date
Snagglefoot Offline


Registered: 12/31/17
Posts: 1733
Loc: Alberta
The Bank of America Merril Lynch has released an article today predicting that Peak Oil Demand will occur during the year 2030, when 40% of all new vehicles will be electrically powered. That's 12 years from now. How do you think that stacks up? Do you think they will be accurate in their prediction?

SF popcorn popcorn2


Edited by Snagglefoot (01/22/18 03:08 PM)

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#4643089 - 01/22/18 03:14 PM Re: Peak Oil Date [Re: Snagglefoot]
PimTac Offline


Registered: 03/04/17
Posts: 4298
Loc: Soviet State of Washington
WTHK.

I donít put much if any faith in predictions. We were supposed to be in a ice age twenty years ago.

A lot of this stuff is guesswork of the Extreme kind.
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#4643091 - 01/22/18 03:18 PM Re: Peak Oil Date [Re: Snagglefoot]
SubieRubyRoo Offline


Registered: 05/14/12
Posts: 1128
Loc: Winchester, Indiana
There was also an article I think back in the mid 50's... where Peak Oil was supposed to have occurred sometime long before the year 2000. It's just a way to keep the prices high and the oil mafia at the top of the money food chain. It was written by several oil company engineers... and was obviously bunk. Just as I believe this one is. I'm willing to bet that BOAML is heavily invested in XOM, RDS, Marathon, etc etc etc... if it was a dying industry would they place their personal financial futures on it?

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#4643110 - 01/22/18 03:27 PM Re: Peak Oil Date [Re: Snagglefoot]
46Harry Offline


Registered: 01/08/12
Posts: 409
Loc: hawthorne, Ca.
I'll believe this when I see it. Electric cars while being a good aren't ready for prime time unless there is a major breakthrough in battery technology.

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#4643112 - 01/22/18 03:29 PM Re: Peak Oil Date [Re: Snagglefoot]
mk378 Offline


Registered: 09/27/15
Posts: 1420
Loc: USA
The "peak oil" theory assumes that oil supply drives oil demand, actually it is the opposite.

No one in the oil business will admit that an excess of supply exists, for that would drive prices down.

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#4643114 - 01/22/18 03:35 PM Re: Peak Oil Date [Re: mk378]
Snagglefoot Offline


Registered: 12/31/17
Posts: 1733
Loc: Alberta
Originally Posted By: mk378
The "peak oil" theory assumes that oil supply drives oil demand, actually it is the opposite.

No one in the oil business will admit that an excess of supply exists, for that would drive prices down.


Actually, Bank of America is talking about Peak Demand instead of Peak oil, just like you mentioned.

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#4643118 - 01/22/18 03:37 PM Re: Peak Oil Date [Re: SubieRubyRoo]
Snagglefoot Offline


Registered: 12/31/17
Posts: 1733
Loc: Alberta
Originally Posted By: SubieRubyRoo
There was also an article I think back in the mid 50's... where Peak Oil was supposed to have occurred sometime long before the year 2000. It's just a way to keep the prices high and the oil mafia at the top of the money food chain. It was written by several oil company engineers... and was obviously bunk. Just as I believe this one is. I'm willing to bet that BOAML is heavily invested in XOM, RDS, Marathon, etc etc etc... if it was a dying industry would they place their personal financial futures on it?


Actually Bank of America is talking about Peak Demand, not Peak supply as we are more used to hearing about.

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#4643125 - 01/22/18 03:45 PM Re: Peak Oil Date [Re: Snagglefoot]
Panzerman Offline


Registered: 12/16/06
Posts: 4203
Loc: Port Orange, Florida
Peak Oil is a joke.
Just like MK378 stated would the oil companies ever let out we will never use all the oil.
It's a drive to keep oil prices high and justify it.
They make they same profit regardless of the oil use.
Sell less gas, more per gallon. Less costs for them.
Always look who benefits from such talk and then take that with a teaspoon of skepticism.
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#4643127 - 01/22/18 03:47 PM Re: Peak Oil Date [Re: mk378]
Al Offline


Registered: 06/08/02
Posts: 18036
Loc: Elizabethtown, Pa
Originally Posted By: mk378

No one in the oil business will admit that an excess of supply exists, for that would drive prices down.

Demand with respect to supply determines prices. Prices are what the public will pay.

If it became "known" (to JoeSixpack that supply is infinite..'olJoe might buy a gas guzzler along with the rest of the Joes: so demand goes up (supply stays the same) and so do prices.
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#4643148 - 01/22/18 04:14 PM Re: Peak Oil Date [Re: Snagglefoot]
JohnnyJohnson Offline


Registered: 10/22/09
Posts: 2745
Loc: Wet side WA
Electric cars outrageous make up their hoping!

Look at the price on the Chevy Dolt!


Edited by JohnnyJohnson (01/22/18 04:15 PM)
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#4643160 - 01/22/18 04:29 PM Re: Peak Oil Date [Re: Snagglefoot]
PandaBear Offline


Registered: 08/05/02
Posts: 14219
Loc: Silicon Valley
Depends on what the oil companies and nations do to promote the demand of oil. Lots of developing nations will get better and start using more oil, and when they get wealthier they will want an SUV instead of an econobox.

And they'll want better quality of life instead of more kids.


Edited by PandaBear (01/22/18 04:30 PM)
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#4643164 - 01/22/18 04:33 PM Re: Peak Oil Date [Re: JohnnyJohnson]
PandaBear Offline


Registered: 08/05/02
Posts: 14219
Loc: Silicon Valley
Originally Posted By: JohnnyJohnson
Electric cars outrageous make up their hoping!

Look at the price on the Chevy Dolt!


When you look at long term prices things may be different.

Wireless phones, cameras, flash memories, computers, cars were all expensive yet end up as commodity and worthlessly cheap. A battery researcher I knew told me there's nothing prevent battery from going cheap other than production and R&D scale. She said when we run out of lithium we can easily go sodium to get cost performance ratio inline, and you know we'll never run out of sodium.
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#4643183 - 01/22/18 04:55 PM Re: Peak Oil Date [Re: Snagglefoot]
FermeLaPorte Offline


Registered: 07/25/17
Posts: 472
Loc: Texas (south)
I think that cars should be hydrogen powered. But I am a dreamer, so take my wishes with a grain of salt.
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#4643334 - 01/22/18 07:30 PM Re: Peak Oil Date [Re: FermeLaPorte]
Linctex Offline


Registered: 12/31/16
Posts: 6148
Loc: Waco, TX
Originally Posted By: FermeLaPorte
I think that cars should be hydrogen powered.


Great.

Where do you get hydrogen from?
(I mean, where can you source it COST EFFECTIVELY?)

I have yet to see any source of it where it isn't VERY energy intensive to make.
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#4643475 - 01/22/18 09:33 PM Re: Peak Oil Date [Re: Snagglefoot]
Iowegian Offline


Registered: 01/05/17
Posts: 273
Loc: Iowa
Where do we get the electricity from to charge the electric car?
Imagine the grid requirements and all the new power plants necessary to supply enough power for all those electric cars.
My electricity is now 17 cents per kwh on order to pay for all the nee wind turbines and power lines.

Electric power is some of the most inefficient (power line loss) and costly.
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