And there was much rejoicing in the land.... Gas Prices

[46Tbird]

We can't really curb our fossil fuel usage. We can try to level off and let other sources pick up the slack, but right now there's nothing capable of actually displacing any oil consumption

Yes, but fifty years from now is a different story. We will have different energy sources and different infrastructure to support delivery of that energy. People then will look at our gas pumps the same way kids today look at rotary phones. People will be dumbfounded that we used to burn mass quantities of coal and oil to produce energy when we're surrounded by near-limitless (solar, geothermal, wind, wave, nucular, cold fusion ) energy.

Technologies are growing for non-fossil fuel energy sources and their delivery. At some point it will become viable and the new industry will be just as prosperous as the current O&G industry is.

[racrguy]

Yes, but fifty years from now is a different story. We will have different energy sources and different infrastructure to support delivery of that energy. People then will look at our gas pumps the same way kids today look at rotary phones. People will be dumbfounded that we used to burn mass quantities of coal and oil to produce energy when we're surrounded by near-limitless (solar, geothermal, wind, wave, nucular, cold fusion ) energy.

Technologies are growing for non-fossil fuel energy sources and their delivery. At some point it will become viable and the new industry will be just as prosperous as the current O&G industry is.

Whoever figures out the energy storage issue is going to be able to cash checks bigger than most of us can comprehend, methinks.

[Strychnine]

People will be dumbfounded that we used to burn mass quantities of coal and oil to produce energy when we're surrounded by near-limitless (solar, geothermal, wind, wave, nucular, cold fusion ) energy.

Oh, I know. Just like jw33 said... one day oil will be the next whale oil industry.

Storage will change the world. That's the beauty of petroleum products; the energy is already stored and can be used at any time we please. Those photons went through a lot of shit to get turned into a "fossil fuel" and now we have a prepackaged energy source that we can literally flip and switch and extract or leave in place. It's insanely amazing. It won't last forever though.

In Facebook's onboarding process they give all new-hires a book about their culture. On the last page it says this:

"If we don't create the thing that kills Facebook, someone else will. 'Embracing change' isn't enough. It has to be so hardwired into who we are that even talking about it seems redundant. The internet is not a friendly place. Things that don't stay relevant don't even get the luxury of leaving ruins. They disappear."

In reality, that's the mindset O&G companies need to adopt now, but that's not going to happen.

[Ruffdaddy]

Looks like shale is starting to displace deep water...unbelieveable! Hopefully our resident deep water guy isnt going to be affected.

"Exxon Mobil Corp., Royal Dutch Shell, Chevron Corp., ConocoPhillips and Hess Corp. have all either delayed or abandoned projects that range from the deep seas of the Gulf of Mexico to Canada’s oil sands and the U.S. Arctic. At the same time, Exxon and Chevron both announced plans to substantially increase U.S. crude production, largely as a result of their shale operations.

“What makes more sense in this environment: drill a $100 million well in the deepwater Gulf that might come up empty, or poke lots of holes in West Texas where you already know there’s oil for a few million apiece?” said Michael Webber, deputy director of the University of Texas Energy Institute."

http://www.worldoil.com/news/2015/10/30/oil-producers-curb-megaproject-ambitions-to-focus-on-us-shale

[Strychnine]

Rig count -12 this week.

Oil -16
Gas +4

[Ruffdaddy]

Rig count -12 this week.

Oil -16
Gas +4

That stings...

[CexMashean]

Does this mean gas will be even cheaper on monday?

[Ruffdaddy]

Does this mean gas will be even cheaper on monday?

No, not entirely. WTI is up.

[zora04]

What technologies are we on the cusp of? Almost none of the recent renewables would sell at all if it werent for massive government subsidies. Wind energy is a sham...just wait for there to be less govt handouts and you will see that industry crash as well.

No other industry but wind could sell their product for a negative value and still profit...

http://www.slate.com/articles/busine...ight_that.html

Solar freaking roadways!

[Ruffdaddy]

Solar freaking roadways!

That stupid campaign was so annoying.

[03mustangdude]

I did some calculations a while ago and for me to install solar panels that cover 100% of my energy monthly and a tesla battery storage thingy my payoff would be like 50 something years. That's with tax incentives figured in.

[Sean88gt]

I did some calculations a while ago and for me to install solar panels that cover 100% of my energy monthly and a tesla battery storage thingy my payoff would be like 50 something years. That's with tax incentives figured in.

But telling utilities companies to "fuck off" has to have some value...

[Cooter]

But the solar panels and battery storage thingy probably won't last that long

[Ruffdaddy]

Why not? Have you seen those Tesla panels?

I think that 50 year estimate might need some reworking. That, or you need to research better pricing.

Yeah youd need like 3-4 tesla panels minimum, and would probably have to replace them every 5-8 years. So were talking no payoff ever

[Ruffdaddy]

By a raise of hands...how many people in here has tesla tricked into thinking hes made some amazing breakthrough?