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[–]EthnocratArcheofuturist 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

There are no easy oil wells left. The new ones are increasingly in desolate places and require a higher and higher level of technical sophistication to extract them.

Peak oil already happened in 2006. The shale scam has just bought us an extra 15 years at best. The "long emergency" is here.

[–]casparvoneverecBig tiddy respecter[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Peak oil is ahead of us. Oil prices fell repeatedly since 2006. Venezuela has a lot of oil im reserves and the black sea has untapped reserves still.

The issue going forward might be that as the 3rd world and China double their economies in the coming decades, oil demand is going to go through the roof and annual oil production might not be able to keep pace

Same for gas, coal and hydro. There would be real wars over control of oil and gas, high seas piracy of oil tankers by mercs and navies. Abd worst of all, wars over rivers and waters.

[–]EthnocratArcheofuturist 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Oil prices fell repeatedly since 2006.

That's because of shale oil, which is coming to an end.