The Volumetric Relationship Between Crude Oil and NGL

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The United States has 93 percent of its energy content from crude oil and condensate. The next category up is what's called other, those are a whole slew of products that are not used as fuel. And then the highest category is NGL, which is natural gas liquids or natural gas plant liquids. So again, the United States is just a more mature petroleum province and a more advanced economy.

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