According to the Washington Post article published yesterday, Denmark was the first major oil-producing country to announce a deadline to end oil extraction. While this may sound like a “Victory” for the Green Energy Movement, there’s a catch. While Denmark announced that it would end all oil extraction by 2050, the country will likely run out of oil reserves well before that date.
I find this quite hilarious because all anyone has to do is look at a bit of data, and you can find out that Denmark’s oil-producing days are quickly coming to an end… WITH OR WITHOUT GREEN ENERGY.
The Washington Post article titled, Denmark becomes first major oil-producing nation to set deadline to end extraction, stated the following:
The decision was applauded by some environmental activists, with Greenpeace celebrating it as a “watershed moment,” although other groups had hoped for a faster timeline.
Denmark’s new rules mean companies will be barred from receiving new licenses to search for and extract oil and gas resources. Previously issued licenses will remain valid until 2050.
Denmark is the top oil producer in the European Union, but it has come under mounting pressure as the E.U. aims to become carbon-neutral within the next 30 years.
“It’s a historic decision for Denmark,” Dan Jørgensen, the Danish climate and energy minister, told The Washington Post in an interview Friday.
Please note the BOLDED text in the quote from the article above. What a laugh indeed. “The decision was applauded by some environmental activists??” Are you kidding me?? Even Greenpeace celebrated it as a “WATERSHED MOMENT.” Listen, I really admire some of the work being done by Greenpeace, but this is pure BOLLOCKS.
And what is even more hilarious is the Danish climate and energy minister, stating that it was a “HISTORIC DECISION.” Seriously, what are these leaders smoking nowadays? This is nothing more but worthless political pandering.
Why? Let’s look at the data. First, here is Denmark’s oil production from 2005 to Aug 2020.
In 2005, Denmark was producing 380,000 barrels per day (bd), but it was down to 68,000 bd in August of this year. Part of the decline could be covid related, but as we can see, production has been steadily declining. While Denmark’s oil consumption has also been declining, the country became a net importer in 2015, if we look at the chart below.
In 2015, Denmark produced 158,000 bd but consumed 161,000 bd. In August this year, Denmark was a net importer of 80,000 bd (148,000-68,000 bd). What else can we take away from this besides the Denmark energy and climate minister being totally disingenuous in looking at this data? I tweeted about this yesterday:
WHAT A JOKE….
With Denmark's oil production falling 73% in the last 15 years, the country would probably run out of reserves by 2050.
So, to say that Denmark will set a deadline for 2050 to end oil production when it would likely run out…
… is disingenuous at best. https://t.co/i95ZEwcSRn
— SRSrocco Report (@SRSroccoReport) December 4, 2020
And, if we go by the 2020 BP Statistical Review, Denmark’s total oil reserves are about 400 million barrels. Thus, if Denmark produces 100,000 bd, that equals about 36 million barrels in a year. This means the 400 million barrels of reserves may last 12-13 years. If production declines, they might be able to stretch it to 2050… RIGHT WHEN THEY PLAN TO EXIT ALL OIL EXTRACTION… LOL.
Again… SERIOUSLY, you can’t make this SHYTE up.
Lastly, I am all for doing what’s best for the planet, humans, animals, and the climate. However, the GREEN MOVEMENT is a total joke. It’s not doing anything to fix the problems that it says it wants to fix. Actually, the GREEN ENERGY movement is doing more harm than good.
DEGROWTH is coming whether we plan for it or allow it to occur in 3D-TECHNICOLOR CHAOS STYLE.
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How ironic that Denmark was the last country to grant the Nord Stream II consortium the right to pipelaying across its territory.
Have the Danes and Russians made up?
I can’t live, with or without you – U2
Audited global energy market has semantically come to an end when sizable oil supplies were observed being smuggled from Iraq, Yemen, Libya, Syria and elsewhere – few decades ago now – entirely off any book.
This must have created a well established shadow energy black market globally by now.
It might be this black market what made Denmark and many others capitalising on for their continuity to 2050 – claiming the smuggled oil into their territories is their own national production – despite data shows their own oil has already critically run out, years and years ago.
One needs to be conscious to the possibility that whenever “Green Future” or an-oil-that-never-runs-out mentioned in the news, there might be a ‘Black Energy Network” involved in the mix.
Or, numbers actually don’t add up!
Here are incredible scenes of recent tribe-fighting over densely populated oil-rich city of Basrah in Southern Iraq.
The now-regular exercise is meant to ultimately awe the population not to ask for their fair share in their national oil, or else!
Practically, the oil in context is understood to be reserved for armed militias-run systemic smuggling.
The practice became a routine after the 2003 US invasion of the country. Locals call it “Corruption”, fearing it might creep to other neighboring nations soon, too.
I agree there is a black market for oil all you had to do is watch ISIS when they were in the news.Thousands of oil trucks filling up and heading into countries all surrounding their held territories.
But the fact remains, if Saudi Arabia cannot increase production let alone maintain production with everything at their disposal off the books oil production is falling as well. World production in just about every nation has been showing a decrease except in the USA with fracking. We will see what happens very soon when the fracked oil production falls off if the world can keep up with demand. If the pandemic had come along the world would have had major supply issues within a year or so anyway.
It’s like a cult. This obsession with renewables and climate change.
Whilst denying peak oil and the downsides of renewables.
The more peak oil the more screeching about Climate Change and Renewables.
Still waiting for the green energy movement’s supposed connection to bitcoin enthusiasts.
The logic couldn’t be simpler.
Oil is absolutely essential to mine silver (and gold).
Global oil output will continue to decrease steadily. The eventual Energy Cliff is not far away.
Silver ore grades, too, are falling steadily. Which means: while you’ll need more and more oil-based energy to get a given amount of Ag from the ground, you’ll be able to obtain less and even less of it.
Oh, by the way, while diamonds and gold are eternal, unfortunately silver is NOT. For we’ve got a global industry which needs to gobble up 50 tons of Ag every day for its very survival (and recycling from its products is minimal, with most silver ending up in landfills). And, hey, all of this is to meet our many needs. Silver is used in > 400.000 production processes. For most of them, it has no alternative (at least, not currently).
These are irrefutable, fact-based realities. I also strongly believe that;
1. A catastrophic bond/derivatives market collapse (size: 2-4 quadrillion dollars) may not be far away. This will be the financial equivalent of an H-bomb and will rapidly lead to trillions of dollars catching the then scarce silver bullion.
2. Silver-dependent companies will eventually have to form reserves.
3. Central Banks will be strategic buyers of silver. Not in tiny amounts, of course. (And this may already have started).
4. Even though an effective vaccine is said to be available soon, the global contagion may not end abruptly, continuing to adversely affect primary and secondary Ag mining output for some time.
5. ANYTHING that screws base metal, ie, copper, zinc, lead, .. mining for any reason will certainly and rapidly lead to a global silver deficit, nearly 2/3 of which is mined as a secondary byproduct.
Silver is still VERY cheap. Please keep stacking.
Yes, oil may have been systematically stolen from Middle East by the West.
But none of the stealers is a major producer of silver.