Flood of Oil Is Coming, Complicating Efforts to Fight Global Warming
I have a hard time taking this article too seriously.<p>&gt;not coming from the usual producers, but from Brazil, Canada, Norway and Guyana — countries that are either not known for oil or whose production has been lackluster in recent years.<p>Canada ranks 5 in oil exports, Norway 13, Brazil 21. Sure, Guyana belongs in that sentence. But... uh, okay? Rank 5 is &quot;not usual&quot;?<p>Next part, wtf do you expect? Oil companies are going to bull rush to increase their cash supply in the coming years due to gas car bans coming in the next decades along with the push for renewable energy. Did people actually think these multi billion dollar companies are going to just say, &quot;Oh well, we had a good run. We should take ourselves out to pasture now&quot;?<p>&gt;Years of moderate gasoline prices have already increased the popularity of bigger cars and sports utility vehicles in the United States<p>I&#x27;m pretty sure that &quot;demand&quot; is a drop in the bucket to the past decade of Chinese demand that&#x27;s been increasing.<p>Fun point I really, really like: &quot;The added production in Norway comes despite the country’s embrace of the 2016 Paris climate agreement, which committed nations to cut greenhouse-gas emissions.&quot;<p>Hmmm, so Norway taxes the shit out of oil(which they should, don&#x27;t pretend I&#x27;m for oil). What does that mean? Oh, let&#x27;s see, 2018 oil tax rev was NOK 155 billion (17b USD), 2019 is estimated NOK 176 billion (19b USD). I have a truly difficult time believing that the government will go, &quot;No, we don&#x27;t want that money! Away with thee!&quot; Especially in a country of 5.3million. That splits to services among their citizens pretty well. Enough that if oil disappeared, there are public services that are going to get cut back pretty badly.<p>Uh huh. At a 1.2 trillion NOK operating budget (131b USD), it&#x27;ll hurt to lose, what is that... oil taxes makes 12% of the gov&#x27;s income? I&#x27;m trying to figure out when the memo came out where we all started to believe political rhetoric.<p>Don&#x27;t think for a second I&#x27;m &quot;for oil&quot;. But I&#x27;m a realist. A lot more needs to happen to end oil&#x27;s stranglehold. Not drum circles, UN circle jerks climate summits with teenagers crying nor bullshit &quot;plant trees&quot; PR stunts(past tree planting stunts have real piss poor success rates of the trees surviving after a year. Single digit percentages. And no one tries to learn from the past ones.)