regarding the #oil #resources #venezuela discussion, here is a thing to really have a hard think about.
- the US easy to get, cheap oil is on its way out, it peaked in the 70s, US conventional oil fields as a group are in terminal decline
- US production has been sustained by unconventional resources of which all have plateaued in gas production, which is the driver of this sort of oil & gas production, EXEMPT from the permian basin, which is predicted to peak 2026-2028 and then enter a slow long decline
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