Peak Oil: Art Berman: The Coming Moonshot In Oil Prices

Originally published by Chrismartensondotcom on Jul 3, 2016
Full Description and comments at: http://www.peakprosperity.com/podcast…

In spite of the recent low prices for oil and natural gas, an energy supply crunch is looming warns geological consultant Arthur Berman.

Berman’s perspective should not be lightly dismissed: he has 37 years of experience in petroleum exploration and production with 20 of those years at Amoco (now known as BP). He has published more than 100 articles and reports on geology, technology and the petroleum industry during the past five years –more than 20 of those focused on the shale industry including the Barnett, Fayetteville, Haynesville, Bakken and Eagleford plays.
Video Rating: / 5

Here is a peak oil news update with declining U.S. oil output numbers
Video Rating: / 5

19 thoughts on “Peak Oil: Art Berman: The Coming Moonshot In Oil Prices”

  1. We're using 90million barrels of oil/day. 90 x 365 =
    33billion barrels/year. Ghawar(the world's biggest oil conventional oil
    field) is supposedly 260B. That is less than 8 years worth. The other
    super massive oil fields such as Burgan in Kuwait and Safaniya in Saudi
    Arabia are about 2 years worth of oil consumption. Alaskan North Slope
    and North Sea(about 1 year's worth).

    So basically we are consuming the equivalent of the world's 3 biggest
    and cheapest oil reserves in a period of 10-12 years.

    There's heaps of oil on the market at the moment(due to US fracking and
    Canada) but eventually more fields like Alaska and North Sea are going
    to start drying up and there is going to be shortages. Could be 10, 20 or
    50 years away.

    New oil fields take 10's of billions of dollars to develop, are much
    smaller and deplete way more quickly.

    Really just a matter of time before the next oil crisis(73, 79 and 2009
    were the last ones)

    Reply
  2. Electric vehicles are the way to go. Elon Musk the founder and ceo of Tesla Motors says in ten years from now we will have electric vehicles that can go 500 miles on a single charge. charging stations are going up all the time. The future is electic.

    Reply
  3. You are full of shit my friend. Peak oil is true but you have no idea what you are talking about. All your statistics are wrong!

    Reply
  4. Why doesn't the USA learn they buy SUV then oil companies jack the price up for maxim profit and this happen again and again and again the oil companies are calling the shots.

    Reply
  5. Oil is becoming so scarce that soon they will be giving it away. The writing is on the wall…gas will be free.

    Reply
  6. Peak oil is bull I do believe, however, the reason being is if we were really running out of oil it wouldn't be 2 bucks a gallon. A couple years back we were rounding 4 bucks a gallon but now the savior fracking has slowed that down by what….? Half? GTFO! Wall st plays us cause someone has to lose for someone else to gain.

    Reply
  7. You are seriously confused. Shale production is slowing down because the current oil price is below the cost of production in many shale plays. When the oil price goes up again, shale production will increase. Unfortunately for the peak oil theory, humans will continue to find new sources of oil until such time as we have workable alternative sources of energy.

    Reply
  8. While I know about peak oil and understand its true. U clearly don't know and fully understand. Just jumping on board to try n collect.

    Reply
  9. Don't worry OPEC will just magically add another 100 billion barrels to their reserves…
    Or technologists will just write a computer program to get rid of peak oil lol

    Reply
  10. It is not about supply, plus the debt problem will cause collapse before supply. We have many crisis and renewables will not save us. Population over shoot, methane, erratic weather, loss of plant and animal habitat, on and on. Humans are done!

    Reply
  11. I believe production is down also to the low price/barrel, isn't it? if you're losing money producing wouldn't you cut production.
    and I believe a number of people have made large amounts of money.

    im with you on the pollution and the surprising mindset of some consumers. I remember when people sold their trucks when gas prices hit 3-4/gallon. they must feel that'll never happen again.

    Reply
  12. I believe production is down also to the low price/barrel, isn't it? if you're losing money producing wouldn't you cut production.
    and I believe a number of people have made large amounts of money.

    im with you on the pollution and the surprising mindset of some consumers. I remember when people sold their trucks when gas prices hit 3-4/gallon. they must feel that'll never happen again.

    Reply
  13. To many people using to much oil!
    BUILD A WALL & TAKE THE OIL!
    LETS BE MORE LIKE NEW ZEALAND!
    KICK ALL THE FAT UGLY STUPID PEOPLE OUT MAKE AMERICA WHITE AGAIN!
    THE ONLY WAY A COUNTRY CAN RUN ON 100% RENEWABLES ENERGY IS TO HAVE A SMALL POPULATION!

    Reply
  14. The peak on this mountain is about 10 years wide. The other side of the peek has a cliff. Anybody's guess how wide that is. 2 years, perhaps?

    Predictions?

    The economic conditions continue to deteriorate for the vast majority of people, the 400 people in the US with the wealth equivalent of Brazil's GDP continue doing so well, they might be considered another species.

    A major shipping company has gone bankrupt.

    The thing impressing me is how all this is converging in time. It should not be surprising, because they are all connected. The economic situation is reaching the cliff edge, as is the political world, the global warming. It's funny, but you can look out over the city, see the cars running around, everything can be seen as normal, no problem.

    My eyes are on the arctic sea ice. The world is much warmer then when we went into winter with this little ice. thinkprogress.org/top-ten-u-s-weather-events-of-2012-f529c56d453c#.3bcx9u6ze

    War? I go into denial mode at that suggestion. War might be a way to impose tyrannical controls on the population in a last ditch sort of effort to maintain order & control over the economic & political situation, control over resource distribution. I tend to think the leaders are not willing to push things, but are just putting fingers in the dyke. They are simply reacting to things on a daily basis. There are no plans going forward. Things might go on for years, 10 years, just slowly getting more crappy.

    Big surprises may come. Perhaps some sweeping plague will cause a fast die-off. Perhaps some nuclear contraption like the one on the Hudson River will melt down, sending NY into chaos along with Wall Street.

    Reply

Leave a Comment

Enter Captcha Here : *

Reload Image