DesuMaiden wrote:Fyi, the precise amount of oil reserves that are left is a tightly-guarded secret by the governments of the world. But based on the best statistics available, oil extraction already peaked in 2018.
Didn't matter much before, any reason you are worried about the most current peak? Let us say oil did peak again in 2018...has it bothered you much? Because most of the world doesn't seem to have noticed, and we've got the entire concept of peak demand being the primary driver of peak oil now, rather than any of the old scarcity fears.
DesuMaiden wrote: We just haven't felt the effects of peak oil yet because of the covid-19 pandemic temporarily reducing demand. But once the demand for oil goes up after the pandemic is over, the demand will outstrip supply.
And then we'll discover that 2018 was just another peak oil along the way. Like all the others claimed since the modern peak oil movement began in 1990.
DesuMaiden wrote: Thus leading to shortages.
Never happened all the other times. But recycling 30 year old ideas and arriving at the conclusion none of the others caused seems a bit counterintuitive.