This Should Be Intersting For France
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They have announced they are stopping all oil production. Their president wants to lead the world in environmental change. I guess that’s French for stone age.
What are they gonna put in the gas tanks of their autos?
They are banning production by 2040. They are not banning using petroleum. They already import most of what they use anyway.
Now all their oil will come from places with stellar environmental records like Africa and Russia.
A barrel of crude extracted in the US with our regulations and oversight is better for the environment than a barrel of crude extracted in Nigeria.
By chance, would France's oil reserves be depleted by 2040? Lol, they'll stop using the 100 barrels they produce a day.
They are the 71st biggest producer in the world. It’s about the equivalent of us saying we’re going to stop kangaroo hunting in this country. Not a very difficult thing to say and certainly isn’t going to change much with regards to how the rest of the world gets their energy.
There won't be anyone left to work in THE oil field by then anyway. Well, for longer than 2 hours a day, 2 days a week.....
They already pay over $6/gallon, JTV, same as most every other European country.
Good for them. Oil will soon be the coal of energy. Dying out. We all knew it was a finite resource anyway. Right?
bigeasygator's Link
he energy transition isn't going to play out overnight. It's complex, with a number of dimensions to it and we're going to find that it'll play out in different paces at different places, and it's also going to play out differently across various economic sectors and industries. For example, within the transport space, you're going to see decarbonization in cars and trains much faster than you'll ever see it in shipping, freight, and aviation.
My company put out a fairly lengthy brochure (see .pdf at the attached link) on how we see this logically playing out -- and we obviously have a pretty vested interest in getting the timing right. Invest too soon, too early, in the wrong things and you're bound to fail. Miss the transition and jump on too late, and you're bound to get left behind.
The approach by the large energy companies right now is one that is extremely measured, and in every scenario we see oil playing a big part of the energy mix for the foreseeable future.
Solar takes 10 acres to produce 1 MW. Do the math on total footprint to generate 1000 MW and then compare that back to the footprint of a good producer and barn burner well (2000 bpd and 10 MMscfpd).