>1978>oil usage peaks at 7 and a half million barrels per day in the USA>middle east crisis occurs>7% supply loss>by 1982 sinks to below 7 million>doesn't recover to 7 and a half until 1993 despite population growth>15 years to recover from a 7% supply loss>2026>this time it's 11% supply loss>this time EVs, solar, wind, and battery are huge industries>this time population growth is stagnatingAre we hitting peak oil this time for real?
>leaves out that the cold war 70s crisis was not a function of demand >but a function of OPEC countries deliberately reducing productionthat was the man driver; today the situation for the shitskins is that of a side note in history, they don't really control the dinosaur farts and blood on their territories, the USA does directly as indirectly; and that is not even considering deflationary demand due to demographic realities
>>62047498Demand drives supply. You peak oil retards always get that backwards. Combined with a complete lack of understanding of what the phrase "proven reserves" means, and your understanding of economics is completely unhinged from reality, left holding your dick wondering why we still have 40-60 years of proven reserves when we only had 40-60 years of proven reserves back in 18 fucking 89.
>this time EVs, solar, wind, and battery are huge industriesThey are huge industries in China We are tariffing themThe west is a backwards shitfest of old people who hate change(unless its importing brown people)
>>62047598Both 70s and today's crisis was a function of supply, but the long term is demand.
>>62047846>Expectations on supplyftsfyan the main driver from the 70s doesn't exist anymore, OPEC(+) has been demoted to a pawn of the USA over the past 18 years on top the US controls the majority of oil supply on global scale; so any shitskins and "non aligned" that form a coalition against "Israel" in support of their "arab brothers" don't exist anymore — they are little fat dependent bitches, that have to suck uncle sams and uncles Moshes dick or they go into regime change and are going to be headless fat bitches
>>62047676/thread
>>62047676>demand drives supply>just ignore the fact that demand catered for 15 years due to a short term supply shortage>>62048452Iran is a fortress country with 70 million people. They can keep the strait closed in definately, and keep harassing their neighbor's infrastructure indefinitely.
>>62047676yeah the truth is we stopped wanting more energy in the 1970s. we have all the energy we want. I dont want any more, and i dont even want the energy i use now at a lower price!
get on your knees, trump wants his peak oiled
>>62048565/thread
>>62047498Here is a concise, well-founded reply you can use, kept under the 2000-character limit:The core logic of this post is actually spot on, even though the historical numbers for 1978 are incorrect.To set the record straight: the US was not consuming 7.5 million barrels per day in 1978; total US consumption was closer to 19 million barrels per day. The 7.5 million figure is likely confusing total consumption with US domestic production during that era.However, getting the exact numbers wrong doesn't invalidate the overarching point. The underlying mechanics of what happens during a massive supply shock are highly accurate, and the contrast between the 1970s and today perfectly illustrates why we are likely hitting "Peak Oil" (specifically, Peak Demand).Here is why this time is fundamentally different:Substitution vs. Efficiency: When the oil shocks hit in the 1970s, the only way to adapt was through efficiency—driving less, enforcing lower speed limits, and building smaller cars. There were no scalable alternatives to the internal combustion engine. Today, an 11% supply loss and the resulting price spike act as a massive catalyst for permanent substitution.Mature Alternatives: EVs, solar, wind, and battery storage are no longer experimental concepts; they are mature industries. A severe oil shock today simply accelerates the transition. Once a consumer or company switches to an EV fleet due to high fuel costs, that oil demand is destroyed permanently. They do not switch back when oil prices eventually stabilize.Demographics: Combined with stagnating population growth in developed nations, the structural demand for oil is naturally flattening out.The 1970s supply shock caused a temporary dip until the economy recovered. A severe supply shock today is much more likely to cause permanent demand destruction.
>>62048565>Iran is a fortress country with 70 million peopleIt's 93 million
>>62048765stop feeding me your retarded AI outputs, you are not replacing oil period
>>62048765
>>62048565AHAHAHAHAHAHAHAstupid shitskin, it literally doesn't matter.
>>62048567>we stopped wanting more energy in the 1970sYes. When the price went up then it became more cost effective to implement measures that improved efficiency, and after that we didn't need more energy after all. Energy producers aren't charities, they produce roughly the amount of energy needed to keep the price sufficiently above the COGS to deliver a decent profit, without letting it get too high for too long a time to make alternatives (increased efficiency, alternate sources of energy) a real threat to their bottom line. This isn't perfect because energy demand is inelastic over short time periods, so small differences between demand and supply can cause extreme volatility.
>>62049022> 2020fucking RETARD
It's true my parents just decided to get a 20k solar system to go completely off grid. I assume many other wealthy people are doing the same thing
>>62050552Ahahahahahahahahahaha Unless they live in the desert it won't cover their energy needs oh no, even in the desert it doesn't as their energy need exponentially rises compared to a continental climate. If your parents weren't brainwashed idiots they would invest into.... Nah Not going to provide you faggots with useful information. Tell them they should buy double the amount
