What Did You Discover in the Creation of This Chart?

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In the creation of this chart, what did you discover? Well I discovered a couple of things. What we call oil, only 60% of it is actually what I would call oil. So 40% of what we're counting as oil and saying, okay, no problem, we're already ahead of it in the US are because this large portion that doesn't even come from oil is growing at a faster rate than the oil production is. All of a sudden we're back to peak oil again.

On this episode, petroleum geologist Arthur Berman returns to unpack the development and drawbacks of ‘peak oil’. Art explains how our institutions have redefined what is considered oil, which has created an illusion of constantly growing oil production. The reality is that - circa 2023 - fully 40% of what is called oil is comprised of things that are ‘not oil’. What does this imply for global peak oil? Is peak oil, an observation which has been around for decades and repeatedly proven ‘wrong’, even relevant today? Is a specific ‘peak’ date even helpful or should we be focusing on the logical implications of a declining primary resource for global economies? And then, what should we do

About Art Berman:

Arthur E. Berman is a petroleum geologist with 36 years of oil and gas industry experience. He is an expert on U.S. shale plays and is currently consulting for several E&P companies and capital groups in the energy sector.

For Show Notes and More visit https://www.thegreatsimplification.com/episode/54-arthur-berman

To watch this video episode on Youtube → https://youtu.be/CDBJdQnjE2o