Art Berman is a geologist who has been in the oil business for over 40 years. He says that since the 80s, the industry became incredibly risk averse. That ultimately led to the shale plays, which were viewed as a no risk proposition. But these are incredibly complex reservoirs to drill and produce,. And number two, once you're done with the shale Plays, you haven't been exploring for 25 or 30 years.
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