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Mapping Global Oil Consumption
As the world adjusts to lower oil prices and the attendant end of the petrodollar system that has served to underwrite decades of dollar dominace but which, thanks to geopolitics, lackluster demand, and a QE-assisted global supply glut, is now set to collapse, costing financial markets some $24 billion in monthly petrodollar liquidity, we bring you the following graphics which show who's consuming the most, and where the growth is.
Consumption growth (2014):
US: +0.5%
China: +3.3%
Total consumption (2014):
From Bloomberg:
Saudi Arabia, the world's seventh-largest oil consumer, ranked sixth among countries with the largest increase in oil consumption in 2014, according to the BP Statistical Review of World Energy 2015. Ukraine used 14.29 percent less oil in 2014 than in 2013, the biggest drop among the 65 countries included in BP's energy consumption statistics.
The U.S. consumed the most oil of any nation in 2014. China, ranked second in oil use, consumed about four times as much coal as the U.S. and produced about three times as much hydro-electricity, making it the largest energy consumer in the world.
Bonus chart, global trade movements:
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Where goes Chinese oil demand there will go oil prices.
Control the food, you control the people.
Control the oil, you control the economies...and of course the spice must flow.
I got an idea, let's take all of the oil out of the earth, that'll be good right?
Tick Tock earthlings...
It's hard to be funny & sarcastic when the truth is such a fucking travesty that nobody can see it... (Until it's too late)
Are Americans supposed to feel bad about this?
Is this another thing about which we are supposed to feel some kind of shame?
No, it means we need to find a solution fast!
Your assumption is that we will run out of oil in 20 years, which has been the assumption for the past 100 years
LOL.... it is not about "running out of oil"..... rolling eyes at stupidity of that concept..
It is about the production cost of that oil..... this is call Energy return on Energy Invested....
For example... Fracked tight oil in the mid west.... has a break even Production cost of around 75 to 100 dollars per barrel... (depends on site etc... see Ron Pattersons blog for specific well production data and cost) that means that if the economy cannot afford to purchase oil at it's break even production cost (because of demand destruction) than you have reached "Peak Oil".... Shit meet Fan....
This information can also be confirmed by reading the quarterly financially reports of most of the companies that are major player in the tight oil plays in the Midwest. (this is a quick google search to have this information at your fingertips)
It is going to be interesting to see how all that money loaned to those frackers will be paid back.... looks like most of them have neg cash flow.... I am sure the default and cure time clocks are counting down... those boys are hoping for a hail mary and a nice middle east war/disruption of global oil supply that sends the price of oil over the break even point.... or perhaps a nationalization of our oil field for national security... military needs are a significant part of US consumptions......
The United States Department of Defense is one of the largest single consumers of energy in the world. Good luck parsing just how much, what kind and where the energy is consumed by the military..... numerous sources on this data, none complete.... or current.....
All these "Smart Guys" don't simply understand that you cannot pull oil out of the earth, it has serious real consequences.... Enjoy your earthquakes, volanic eruptions, and global warming...
(It's a very simple concept, the earth's core is HELLA HOT, take out oil of engine, what happens?)
Puff the magic dragon.... Lived by the sea....
https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF...
(OMFG cracker jack boxes must be handing out diplomas now...)
No shame in willful ignorance .... (that would be an oxymoron)
Dumb and Proud of it... the Amerikan way...
Easier to control the masses if they remain ignorant....
Ride this fucker down until it crashes.... he who remains standing wins!!! And given the US military, we will be the last one to remind standing... just not in the same condition or "form" we are in today.... and the world our children and grandchildren live in will be a very different place...... (that's if they live...)
We are in for one hell of a ride.
Do you think the roswell aliens got here on earth oil?
You don't think?
that Bonus Chart gave me a headache
USA USA USA...
Isn't it true that the US imports oil and exports Gas, chemicals etc. RAW product to a Manufactured products !
I haven't looked up the 2014 numbers, but in 2013, the US was a net natural gas importer. We exported some, but we imported more. That may have changed, but not by any appreciable amount. The talks of supplying Europe with US produced LNG are just a pipe dream.
Are you saying net importer as in:
Imports > Exports or
Imports > Domestically consumed Production + Exports
I'm saying imports > exports. We produced less than we consumed, in other words.
Saudi Arabia?! What are they doing with it? Setting it on fire?
it takes energy to produce energy, and when you produce that much energy, you consume a lot of energy in the process.
"which, thanks to geopolitics, lackluster demand, and a QE-assisted global supply glut, is now set to collapse, costing financial markets some $24 billion in monthly petrodollar liquidity"
Hmmmmmm.... I have my doubts about that.
These charts are a VERY good indicator that the BRIC countries pose the biggest "challenge" to future US oil consumption. The USA must get by with less oil, or switch to alternative sources. Certainly the shale/fracking operations may be a short-term answer. But in the long-term, America needs to re-engineer its entire energy grid.
Maybe we should use more coal.
That's not going to happen. We should have been re-engineering our entire energy grid decades ago, and not all forms of energy are easily fungible. Coal is not a replacement for oil, unless you want to 1) burn through the coal a lot faster than we are now, 2) be really dirty with all sorts of nasty waste products and 3) lose a huge amount of energy due to inefficiency. Coal does not produce the liquid fuels that ship food to the grocery store without those three things happening. The question is, do you want our rivers looking like China's?
What is coal oil made from?
Largely carbon.
We can power the USSA for 50 years or more harnessing 1 cubic meter of the energy in the earths ionosphere. The idea that energy is some scarce resource is asinine. HUMAN BEINGS make effective batteries also..
We run out of food and water way before we run out of energy.
Fear mongering fucks, get a brain. We could have been off of oil (human race not just USA) 100 years ago. The cunts that own the oil want to sell it all to your dumb ass before moving on to next source.
the top two charts seem to contradict each other a bit. confusing.
When does China gobble up Mongolia?
In a way it is absurd they haven't. I mean explicitly, a la Tibet in the 1950s.
I doubt they're worried about either military action or sanctions, could certainly use the land and water...
Half the population of 3 mill lives in one city.
1 billion Chinese live on the eastern coast of China..literally huddled up in a corner if you are looking at a map.
Mongol land is shit. They have tons of sheep though..
Mongolia doesn't have that much water, and it has some climate extremes that would probably suck for most people.
I converted my pickup truck to burn coal. But the engine locked up.