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  1. #441
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    Quote Originally Posted by Trboatworks View Post
    John I am gonna stand my ground here....

    Abiogenic petroleum origin - Wikipedia
    With 100 million barrels of oil being used daily (4.2 billion gallons), this makes more sense than it being created by "a large amount of dead organisms"....

  2. #442
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    Quote Originally Posted by barbter View Post
    With 100 million barrels of oil being used daily (4.2 billion gallons), this makes more sense than it being created by "a large amount of dead organisms"....
    No it doesn’t.

    Crude deposits are formed by deep ocean marine algae debris which accumulated on the ocean floor over billions of years.

    Abiotic theory postulates that crude is formed by deep mantle processes over billions of years.

    Both theories depend on that requisite passage of time to form usable accumulations of crude.
    The difference lies in the former theory being substantiated by empirical evidence.

    Pay attention eh- the global price collapse from 2014 to 2016 was due to the innovation of fracking in the us which increased our domestic production from approximately 5MBD to 11MBD.
    This altered the demand supply cure sufficient to alter price but note domestic production still is far short of our consumption at some odd 22MBD.

    Fracking as with tar sands(see Canadian pipeline argument) are marginal deposits.
    Required now due to the easy large pooled resources being exhausted.

    ‘They aren’t making anymore.’ is any practical terms absolutely correct.

  3. #443
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    Periodic collapses in global price just so happen to be very useful to the big oil producers.....because they kill of all investment in alternatives.....which typically take another 10 years to achieve a meaningful momentum.


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