Five years after my last post it seams nothing in the land of energy has changed. Peak oil seems to be as dead or even 'deader' than ever. But wait ... what about 94$ a barrel today? What about fracking? Fracking? What is that? Well, the world did change since 2008. Fracking is something that has been started to compensate the decline of conventional crude oil and gas production.
In my eyes, peak oil is everywhere today. And how bad can it be? The national debt ceiling has been reached several times in the last years, and no end is in sight. 16 trillion dollars national debt, about 115% of GDP. Well, is the high debt maybe consequence of peak oil? Our money we used to put into the economy now goes into gasoline expenses and all other expenses related to crude oil, and much of that money goes straight to oil exporting countries.
Well, but that will change now with fracking. Fracking is a technology used in the US to produce oil and gas from US soil, in the US for the US. Fracking will ease the effects of peak oil on America, which is good for the American economy. Let's not mention some areas that are environmentally badly affected by fracking.
Now, I wil watch energy supply developments more closely again to make my personal investment decisions even more well-rounded. This blog is still and again a viable source of daily refreshed and refreshing worldwide news about all sorts of energy related issues.
Happy reading!
Ingemar
