So the BP statistical review of energy is out today. Some points:
Upstream will not be abandoning new projects any time soon - BP may be an energy company, but their 1000+ wind turbines have turned little profit. Biofuels in Brazil are more promising.
Gas has overtaken coal in the US as the biggest energy source - with the switch to gas, CO2 output has not increased in 2015. The excess of gas is worrying - do not expect prices to rise anytime soon, although increased consumption in India, China may bump them a little.
Saudi Arabia's pledge to a post-oil future is contradicted by its' announcement yesterday to import gas while it’s cheap (avoiding huge production costs of domestic sour-gas).
Russia has been dropping its asking price for gas faster than anyone else to maintain market share.
Canadian and Russian proven reserves are very suspect and reports have been downplayed by BP economists.
The biggest variable in all reporting on energy and economics is that China's reported growth rate is unreliable.
China may have peaked in terms of coal use, either slowing consumption or switching to gas.
Jace Green
Renewables BTFO - even with a modelled growth rate bigger than any previous energy sector, renewables can only reach 8-10% market share in the coming decades.
While most questions were related to renewables, their penetration into producing societies is just too far away.
Growth of electric vehicles will require a simultaneous changeover in power generation - viable to go green in a hydro-centric place like Norway, but mostly a non-issue
Kayden Taylor
While the US rig count increased last week for the first time in a while, oil rigs are just starting to move with $50 WTI. Note that improving technology will make shale/tight oil very prospective: increasing recovery rates from 5% to 10% doubles the recoverables.
Amazingly, only 3% of worldwide proven reserves are in acreages held by companies - peak oil is nowhere near.
Noah Hughes
Energy and airplanes are the biggest growth markets, I think us biz/ness wannabes need to take that into account
Kevin White
What? Nobody interested in the future of energy?
Christopher Russell
i am senpai
1k in voov, 1k in EVA, 500 in sdrl
Jordan Davis
>BP
shit company. Don't care what their particularly biased report says.
Josiah Moore
sdrl good lottery ticket? Got few also. When divs start comming, it doesnt matter what the price is anyway.
Joshua Jackson
Thats the plan, may even buy a few more now while theyre on sale
Nathan Turner
If you add the methane produced by natural gas to the CO2 produced, it is arguably worse than Coal for global warming.
Brody James
Natural gas is methane. The goal is not to release any, but sell it. Plenty of methane released when mining coal, don't kid yourself. Coal is by far the dirtiest
Daniel Gonzalez
If you add the methane produced by ur mum to the CO2 produced, it is arguably worse than Coal for global warming.
Dylan Bailey
If you add Ur mum to Veeky Forums she'll be saged and that says a lot, these fucked would far to anything (else)
Landon Anderson
Welp this can go one of two ways.
Nicholas Jenkins
that do you think of SO for a low beta pick?
Michael Jackson
Global warming is a hoax you millennial faggot
Joshua Morris
Abandon thread, holy shit this didn't work out well
Brody Lewis
so what... pour in more cash and wait for lift off?
Isaiah Ross
What does this mean for fracking?
Camden Barnes
It is primarily methane.
Not 100% methane.
And some always gets lost into the atmosphere.
Source needed
Wyatt Parker
Overall natural gas releases less greenhouse gases than coal for the amount of energy produced. Fuck.
Cooper Clark
Thanks for the heads up and interesting points OP.
>Renewables BTFO > can only reach 8-10% market share in the coming decades
Yeah it's amazing how low renewables use is compared to the rhetoric around it
