You might be the largest oil producer, but most of that production is expensive shale oil with ever lower quality wells and increasing depletion rates.
No, it’s all about energy return on energy invested.
If that goes negative, oil stops being a energy source and becomes exclusively a regular raw material.
You might be the largest oil producer, but most of that production is expensive shale oil with ever lower quality wells and increasing depletion rates.
It’s all about quarter earnings; long term effects like climate change have nothing to do w it
No, it’s all about energy return on energy invested.
If that goes negative, oil stops being a energy source and becomes exclusively a regular raw material.