The era of oil shows no signs of waning as the world's appetite for fossil fuels continues to grow. Recent projections from the Organization of Petroleum Exporting Countries (OPEC) paint a picture of sustained demand over the coming decades. By 2050, daily oil consumption is expected to reach a staggering 120.1 million barrels, up from 102.2 billion in the previous year. Despite pushes for renewable energy, OPEC anticipates that oil will maintain its grip on nearly 30% of the global energy mix.
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Hey, what about wind and solar?
You need a lot of petroleum to install wind and solar arrays. I installed a solar farm and we burned up a hell of a lot of fuel. Near my home in Virginia they are building wind turbines and the ships, tugboats, cranes, trucks and generators all use thousands of gallons of petroleum every hour.
The wind farms are subsidized for about 1 million USD FOR 20 YEARS and then decommissioned for the landfill.
So it costs about 2 million USD for each windmill and net earning is 1 million over 20 years.
Hey, I have some nice pics for You. Tarifa is waiting for You...
Wow! Beautiful! You are living well, my friend.
La casa in the mountains overlooking Africa. It's amazing
We are in the region Tarifa again. I will never forget what these vandals did to our nature...
At least you have the climate for being outdoors and looking in the other direction maybe ; ).
They won't finish their destruction. The ecb money printer is printing zeroes
well, China printing zeros on front page of the FT today.
Btw, Love how they say "Too little, too late".
Didn't you hear the problem is just that we can't print soon and fast enough. Hahah!
Some gorgeous views too.
You can't taper the fiat shit ponzi... will be great fire works (if You have protection)
Unless we unlock fusion power!
This could take some decades...
Black gold.
Doesnt the USA have a huge oil reserve they dont want to pull from the ground?
Oh yes. They are no 1 producer
USA?
or do you mean UAE?
USA
Moving all those heavy Electric Vehicles to the marketplace and installing electric charging stations takes a lot of petroleum products.
So does making all that stuff. If you're not going to use child labor in the lithium mines, you need heavy machinery.
Speaking of children. You ever wonder why Americans and Europeans are discouraged from having children?
Because the children won't work in the mines so we need children from other places to make the environmentally friendly vehicles. Children can't work on oil rigs. Just is not possible.
But the prices of Black Gold are continuously falling?
It's the downturn of the business cycle and china deleveraging.
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