RE: US Oil Market Crashes
April 21, 2020 at 1:59 am
(This post was last modified: April 21, 2020 at 2:01 am by Anomalocaris.)
(April 20, 2020 at 5:30 pm)BrianSoddingBoru4 Wrote:(April 20, 2020 at 4:58 pm)Mr Greene Wrote: Shareholders will shift their investment wherever the best return on investment is.
Which is likely to bankrupt the petroleum industry (or at least large parts of it). That would be bad.
Boru
It will bankrupt the part of petroleum industry that needs high oil prices to survive in the long run and need a large cash reserve to survive the current crunch, namely the shale oil producers that so recently made the US the largest oil producer in the world again after decades.
(April 20, 2020 at 5:55 pm)onlinebiker Wrote:(April 20, 2020 at 4:46 pm)Brian37 Wrote: I know the world cant get off fossil fuels in a day, but the truth is science has known as early as the 1890s that burning too much greenhouse gasses/CO2 will damage the planet.
I hope our species isn't beyond the point of no return. But the fossil full industry CEOs and shareholders are not going to give up without a fight. I could care less if a barrel of crude was a penny, it will cost far more to ignore the global warming burning fossil fuels in the future if we continue to ignore the damage it is causing.
You "know"?
Really...
Is your degree in mechanical engineering? You have a doctorate in thermodynamics?
How exactly did you come by this "knowledge"?
And tell us how you are going to harness the terrawatts of power we need for a medium sized US city.... Then tell us where the rest of the planet is going to get theirs.....
Your "knowledge" you are pontificating smells suspiciously like an ill formed opinion in my book.. I'm betting "just think happy thoughts" has a great deal to do with your "knowledge".
You know, neither mechanical engineering nor thermodynamics is central to replacement of fossil fuel.
