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Arthur Berman: “The Devil is in the Diesel”
The Great Simplification with Nate Hagens
We Could Not Get Off of Oil, but We Can't Get Off of It.
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The US has plenty of oil, not as much as we used to. We still have a lot, especially relative to most countries in the world. But we cannot produce the things we need just from our oil. It has to be either build different types of refineries or merge it with heavier fractions that we get from other countries. The smart money doesn't believe there's 30 or 40 years of investment life in an oil refinery.
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