Saudi Oil Giant CEO says world should abandon the fantasy of living without oil

Jo Nova

Saudi Oil Giant CEO says world should abandon the fantasy of living without oil

By Jo Nova

The clean energy revolution is failing, and everyone knows it

In a radical move, the CEO of an oil giant actually defended oil. For a brief moment the space-time continuum opened a worm hole to reality, and leaders of some of the world’s largest corporations briefly said sensible things.

The energy transition is falling apart so fast, even the prime targets of hate, the Big Oil Men themselves, are now openly pointing out what a waste of time and money solar and wind power are. BP was trying to cut oil production 40% until very recently when it flipped to increasing it. But now we have a whole conference of Big Oil.

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Trillions have been spent with little to show for it and now the economic reality is catching up to the dullards who ignore economists and engineers warning from years ago.

 

Meanwhile also from Jo Nove is this sudden change to economic reality

BP lost $1b in wind power and just flipped from cutting oil by 40% to increasing it

By Jo Nova

Excerpt:

There’s no hiding that this is a major backflip

History books will be written about corporate mistakes.

Twenty years ago BP called itself “Beyond Petroleum” and by 2020 the company was hellbent on getting there. They pledged to reduce their own oil production by 40% by 2030, and promised to pivot into renewable power. The media was thrilled — “BP Shuns Fossil Fuels“, said Politico, and shines a light on “stranded oil and gas”. Only two years ago BP talked of “accelerating” it’s green investments. Then the price of oil and gas exploded and problems with unreliable energy started breeding.

Now BP is writing off a billion dollars in offshore wind investment, and the new CEO is calling for “pragmatism”. The company has flipped from cutting oil production 40% by 2030 to increasing it instead.

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The ruinables industry has begun to implode as reality is setting in.

 

What a surprise!

 

Bingo!

 

In the 1970's the prediction was that we'd be out of oil by now. The reality is, we have more oil available today than we did then, and more proven oil reserves today than ever before.
7 Enviro Predictions From Earth Day 1970 That Were Just Dead Wrong | The Daily Caller
We aren't running out of oil.
We aren't going to starve to death in the dark and cold.
We are running out of people smart enough to figure out what is really going on.
And those people are being silenced by the dummies who still insist "WE'RE ALL GOING TO DIE!!"

 

It's not just having oil thats the issue. Fracking is destroying America's groundwater. In addition, the refining of oil generates huge amounts of hazardous waste. And the burning is terrible for regional pollution, and no tgood for a world that is feeling the affects of climate change. Leave the stuff in the ground. Why not switch to high speed rail, light rail, and EVs powered by renewables?

 

Ha ha ha this claim has been addressed scientifically a number of times to show it is misleading or false.

 

So. Tell us which part of oil isnorganic.
Oil refining does not create hazardous waste and the industry has gotten very good at cleaning up after itself.
Refineries don't hardly have an odor anymore.

Fracking is not destroying ground water, despite the claims we've all seen in media.

You do know, even "renewable"energy sources need oil and oil by products, right?

 

Many "organic" substances can be hazardous as concentrations increase (example Arsenic).

Oil companies dispose of hazardous waste like every other company does - through regulatory governmental agencies - Federal, State., and Local. So they are not taking care of it themselves. Taxpayer dollars are taking care of it. See below for some wastes.

If I visit the East side of Houston, TX; I smell odors.

Tell you what. I don't have time to refute all your claims. If you provide your link, I will respond.

The US burns 370 million gallons of gas per day. Suffice to say, any renewable contribution is negligible.

https://www.epa.gov/radtown/radioactive-waste-material-oil-and-gas-drilling
RADIOACTIVE WASTE: These naturally radioactive materials are called TENORM. Radionuclides commonly found in TENORM are radium, radon, uranium, potassium and thorium. The level of radioactivity in TENORM can vary widely.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9631407/
ARSENIC: The presence of arsenic in natural gas and liquid hydrocarbons is of great concern for oil companies

https://www.sciencedirect.com/science/article/abs/pii/S0304389418308847
SELENIUM: Selenium is an essential micronutrient in the 60–135 ppb range; however, in slightly higher amounts selenium is toxic for animals and humans. The main sources of emission are oil refineries, power plants, mineral processing plants, agriculture and fossil fuel use.

There are many more. Too many to list.

 

Do you know how many petroleum products are still required for EVS?

All of your rubber hoses all of your rubber belts all of your oil all of your tires all of your plastics all of basically every damn thing the car is made out of except for steal and batteries ( and probably plenty of oil products required for the production of both of those as well )..... Need some grease to pack those wheel bearings? You better get you some more petroleum products

 

EVs don't have rubber hoses or rubber belts. Everything that is sold has ecological overhead for the manufacture of the item. As I said earlier, the US burns 370 million gallons of gasoline per day. Talk about a climate change disaster! Manufacturing of EVs is miniscule for oil usage, when compared with the everyday burning in internal combustion engines. Every day. Every day. Over and over.

 

Sure....


EV hoses and tubing are generally much longer and narrower than traditional automotive hoses. Electric vehicles also require many of the same hoses, tubing, connections, and assemblies of a traditional vehicle, such as air conditioning and brake lines.
https://www.smithers.com › industries
Electric Vehicle (EV) Hose and Tubing Testing - Smithers

 

Not gonna do any good to try and point out that the current state of EV is worse than the ICE state.

Small minds, small solutions.

 

Brake line tubing isn't a hose. I'm glad you mentioned brakes and AC. Brakes hardly wear at all with EVs, because of regenerative braking. The braking energy goes into the battery, instead of wasting it in heat and the subsequent brake wear. Air conditioning is more efficient in EVs than in ICEs.

Unlike internal-combustion cars, there is also no difference in energy use when running the air conditioning in an EV while idling or driving. That's because EVs don't have a heat-producing engine that the air conditioning has to fight against to lower temperatures.

https://www.greencarreports.com/new...n-t-lose-as-much-range-in-hot-weather-a-c-use

 

For the record, and more on topic. What the Saudi oil baron really meant, was the world should abandon the fantasy of living (without lots and lots and lots of) oil. I am not naive to say that the world will ever be oil-free. Also, there will continue to be substantial oil use during transitions to renewables, EVs, bullet trains, light rail, etc. There will be different stages - 1. Oil consumption down by 5% from year before. 2. Oil down by 10%, 20%, etc.

This "thousands-of-barrels-of-oil-per-day data shows why the US should be leading the way --- 1: United States: 8,682.00: 2: China: 1,908.00: 3: Japan: 978.00: 4: Russian Federation: 819.00: 5: Canada: 791.00: 6: Mexico: 777.00: 7: Indonesia: 530.00:...

The data also shows the vast amount of oil that is burned every day. Transition from oil will take a long time.

https://search.yahoo.com/search;_yl...mption&fp=1&fr=yfp-t&fr2=sa-gp-search&iscqry=

 

The point is and you seem to have missed it.... They don't run on dreams and hopes and unicorn farts

 

For the future security of our planet, oil needs to follow coal into the category of a fuel-of-the-past or a fuel-that-does-more-harm-than-good. As with coal, this will take time.

The answer is to electrify the world, and to manufacture that electricity with renewable energy. Not only is that better for the future security of the world, but it makes more sense from an efficiency standpoint, and from an economical viewpoint.

 

The modern world around you exist ONLY due to petroleum.....you can't look more than a couple ft away without spotting anything where petroleum was NOT involved.

People like you want to take society back into the stone age.

 

Just the opposite. We want to move forward, and hand-off a livable world to our children and grandchildren.

 

A world without oil is a regressive Stone age world

 

That's because you're stuck in a paradigm, with a lack of imagination and technological improvement.

 

At least you have a vivid imagination even though it doesn't amount to anything useful..

I can actually use my imagination to fabricate useful objects made of steel

 

I am past the age of influence in the working world. I try to walk the talk, and show that things can be done differently. I built a Net-Zero home with no HVAC requirements The electricity is provided by renewables.

 

It's been a while but I specialize in fabricating recumbent bicycles and other human powered devices.

Up until about 4 years ago I road a bicycle my entire life..... I guarantee you that my carbon footprint has been probably less than most anyone my age in the United States of America.

But I will get on my motorcycle quick and burn that gas... I'm getting too old to pedal my fat ass down the road nowadays.

Ass gas or grass, no One Rides for Free and these things don't run on hopes and dreams.

 

I commuted to work year-round on bicycle for over 30 years. I got into recumbents, and rode them for the last 5 years. I had a Bike-E and an Optima Dragon. Always rode the old beater mountain bike, if snow was in the forecast. Word to the wise - it doesn't pay to ride the edge of a curb in snowy conditions