Evolution of the Definition of Oil and Changing Dynamics of Oil Production

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Exploring the evolving definition of oil to include alternative energy sources like ethanol, natural gas liquids, and others, leading to confusion and debate. The chapter also examines the dynamics of various oil sources, such as shale oil, deepwater oil, and oil sands, illustrating the changing landscape of US oil production.

Recorded March 5 2024

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In this Frankly, Nate shares his perspective on the new all-time high in oil production in the context of AI’s growing influence in the financial markets and technology space. While ‘all liquids’ just hit an all time high, the varying categories of what is considered oil obfuscates a long plateau that is starting to decline. However, given AI’s expanding reach, it may not only invent ways of getting a higher percentage of Original Oil In Place to our economies, but also increase demand for energy worldwide. In similar fashion to shale fracking, MMT, and debt, AI will increasingly widen the resource extraction/ecosystem damage “straw”. Artificial intelligence is potentially a wonderful tool, but it is lower down the hierarchy than money/power maximization and thus will accelerate, not diminish climate change and other environmental damages. Can we resist the cleverness of AI and its ability to drain sources to the very last drop to instead navigate the road to the Great Simplification with wisdom?

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For Show Notes and More: https://www.thegreatsimplification.com/frankly-original/56-peak-oil-ai-and-the-straw