Arthur Berman: "Peak Oil - The Hedonic Adjustment"
The Great Simplification with Nate Hagens
00:00
The Biggest Complication in Continuing to Find and Produce Oil
All the world's existing oil wells are in aggregate decline of something like 6%, right? Right. And so when we look at part of the complexity that I talked about, the biggest complexity in continuing to find and produce oil is that it's deeper. So a higher and higher percentage of what we produce when we find oil and gas together is natural gas. Conversely, less is crude oil and the crude oil that we find is a lighter grade of crude oil that also has a lower energy density.
Transcript
Play full episode
