[late]

Good video explaining the various ways this crisis is hitting the oil industry.

At one point he describes shale oil as a ponzi scheme, which was interesting.

[JohnRawls]

Good video explaining the various ways this crisis is hitting the oil industry.

At one point he describes shale oil as a ponzi scheme, which was interesting.

Wrong on mostly all accounts.

1) The crysis will not kill the oil industry but will damage it. It can't die simply because we need oil to produce all kinds of products from petrol and plastic to perfume and fertilizer etc
2) Cheap oil and gas prices make transition to clean energy impossible. Cheap oil and gas prices make producing electricity or any other substance from them cheaper which makes the producers happy and forces them not to switch to more cleaner methods of production. Renewables are not const-efficient against such cheap gas and oil.
3) US oil shale is a market driven and understandable industry. Currently the oil production in oil shale industry will contract. But after it contracts then the price will start growing and at some point will reach a equilibrium. At that point the oil shale industry will start growing again. Market forces at play.

[late]

1a) The crysis

1b) will not kill the oil industry but will damage it. It can't die simply because we need oil to produce all kinds of products from petrol and plastic to perfume and fertilizer etc

2) Cheap oil and gas prices make transition to clean energy impossible.

3) US oil shale is a market driven and understandable industry. Currently the oil production in oil shale industry will contract. But after it contracts then the price will start growing and at some point will reach a equilibrium. At that point the oil shale industry will start growing again. Market forces at play.

1a)

1b) Look at the thread title... This has a thousand implications. One will be less money for Koch to play his dirty little games.

2) Actually, it could make the politics a lot easier. Big Oil will have less political pull.

3) Maybe.. Shale oil is a nasty business. It will get banned, eventually. I'm hoping I'll live to see that. A LOT of investors got burned over shale, may be a while before more suckers come along.