Oil

Wapo Sounds Death Knell For Big Oil

old_oilYou know something is afoot when, after decades of cheerleading wars for oil, the Washington Post finally announces what alternative media has known for years. The Age of Oil is coming to an end, sooner than any of them care to admit.

“Despite the skepticism of experts and criticism by naysayers, there is little doubt that we are heading into an era of unlimited and almost free clean energy.  This has profound implications.”

I’ll say. And the future is not far away.

According to futurist Ray Kurzweil, “solar energy is only six doublings — or less than 14 years — away from meeting 100 percent of today’s energy needs.” Not only does that mean that the end of oil is breathtakingly close, but also that it’s already in steep decline.

Maybe there is more to the precipitous drop in oil prices than meets the eye. Maybe hurting Russia, Iran, and other big oil US rivals is only part of the plan.

If solar has less than 14 years away from replacing oil completely, then demand for oil must already be waning and companies will start shutting the spigots. In the meantime, they need to get rid of what probably are massive stockpiles of oil that will otherwise go unsold.

Oil extended losses below $48 a barrel amid speculation that U.S. inventories will expand, deepening a global supply glut that’s driven prices to a five-year low.

Futures declined for a fourth day. Stockpiles in the world’s biggest oil-consuming country probably rose by 700,000 barrels last week, a Bloomberg News survey showed before a government report tomorrow.

No need to rush to the gas station. Plenty of oil to go around. Not exactly what peak oil envisioned. Sorry to let you down.

These are very volatile times. It has become painfully obvious that beyond the false flags and frauds that are deliberately foisted on the world to drag us towards endless wars and police states, no one really has a handle on how technology will impact our lives next week, let alone twenty years from now.

Hold on to your hats, folks, because technology is in control and humanity is riding by the seat of its pants.

Categories: Oil, solar, technology

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1 reply »

  1. Meanwhile some do not know when to quit. Australia is increasingly looking like Swiss cheese with all the ugly and destructive coal mines, including mines that are still burning in Victoria which has impacted on the whole area and beyond (people suffering health problems also). Another mine related pollution of precious rivers, this time in world heritage area as well as the criminal acts done to the Great Barrier Reef (aptly named Abbott’s Point, both Abbotts are a disaster!). Good news is I have come across many reports of finance being rejected for coal mines and investment (superannuation etc) are reading the signs too and not going near coal. I can’t say that its all an ethical change of heart, but, there is a change nonetheless. http://blogs.reuters.com/data-dive/2015/01/06/is-coals-decline-permanent/
    Increased support for movements such as “Lock the Gate” which is a mainly rural community network to keep fracking at bay (although I am seeing the vampires already establishing themselves in spite of there being restrictions and a ‘evaluation’ was earmarked for 2015. Let me guess the Aust gov already planned to give them the green light!). This will mean a “David vs Galiath” challenge unless the public awareness campaigns are successful. The dangers really are not worth it.
    Apparently there is pressure on Nuclear as well as coal- http://www.bloomberg.com/news/2015-01-07/gas-price-drop-raises-risk-for-endangered-coal-and-nuclear-power.html
    Meanwhile the scrapping of the ‘carbon tax’ in Australia which was assured would reduce energy costs and we see there is slump in their value, yet, the costs for customers has again increased! This increase was felt on both gas and electricity (which is coal produced sadly).
    There appears to be ever increasing ‘mathamagician’ tricks on figures and so called ‘facts’, with politics in bed with big corporations, not to mention the manipulation of stock market (in ALL markets, including precious metals)…but, do the people believe the deception anymore….for the majority, I think not!

    Liked by 1 person

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