Is Peak Oil still 20 or 30 years in the future and so, would an independent Scotland be rich?

 

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We’ve heard much from Unionist politicians and media of the supposed terminal decline of the North Sea as a source for revenue. We know now that was propaganda and several major figures have suggested a Third Wave boom to come in the next few years. See for example:

Scottish oil now worth $63.58 per barrel as boom continues

New technology to extend life of North Sea oilfields. Reports of its death have been greatly exaggerated

Hammering home the point that oil is no burden for Scotland: US supplies fall as world-wide demand begins to soar.

Now the Chevron CEO has said:

‘There is no sign of peak demand right now. For the next 10 or 20 years, we expect to see oil demand growth.’ Also, BP have predicted [See above graph] a growing but too small, growth in renewables to enable any major replacement of fossil fuels.

According to Oil & Gas People:

‘Cars account for about a fifth of oil consumption, BP estimates. So, if electric vehicles do eventually capture mass markets, oil firms would still expect growing demand from the air, rail and trucking industries.’

https://www.oilandgaspeople.com/news/15497/peak-oil-majors-arent-buying-into-the-threat-from-renewables/

Like most of you, I want to see a greener economy but it’s worth reminding those of a Unionist bent that they cannot use the supposed end of Oil to undermine the case for Scottish independence.

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4 thoughts on “Is Peak Oil still 20 or 30 years in the future and so, would an independent Scotland be rich?

  1. Bill Dale November 13, 2017 / 6:37 pm

    Peak oil is the term used for the estimate of the point at which 50% of oil reserves have been used up. Past this point the law of supply and demand is considered to increase the price of the diminishing supply of a finite and soon to be scarce resource. This can only increase the value of any remaining stocks. Btw, it is not just energy that oil is used for. The road infrastructure depends on it, as do petrochemicals and other key industries.

    The modern world would have a very hard time without oil, much though it pains me to say it.

    Scotland’s oil is indeed a valuable resource, perhaps even more valuable left in the ground till required.

    Liked by 1 person

  2. macgilleleabhar November 14, 2017 / 9:02 am

    Thanks Bill for your informative comments. I have said on this site before that I believe oil is too precious a raw material to use as a fuel.
    The days of thoughtless disposable plastic packaging must also end soon.

    Liked by 1 person

    • Alasdair Macdonald November 14, 2017 / 12:43 pm

      Hear! Hear! I do voluntary work including tidying up litter from our streets, paths and green spaces. The bulk of this is plastic disposable plastic packaging. With the introduction of the charge on plastic bags, there was a noticeable and sustained fall in the amount of associated litter. So, let’s move on to other things like returnable deposits on bottles and cans.

      And, let us use oil for purposes other than fuel.

      Liked by 1 person

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