Flashback To 2020 -- The US Is Running Out Of Oil That We Can Afford -- Update -- Re-Posting Five Years Later -- January 28, 2025

Locator: 48416OIL.

January 28, 2025: price of oil continues to drop. Currently trending back toward $70 / bbl.

Flashback from our own DOE, March 7, 2020, link here:

This is so incredibly cool. I first posted the note in the screenshot below on October 27, 2011, and then posted it again, with a tag to follow-up in December, 2020. It's a bit early, but with WTI dropping below $50/bbl, I thought this was as good a time as ever to post it again.

Link here. The tag, follow-up in December, 2020, will remain.

"... as soon as 2012, total world oil production [would] begin to decline, and .... there could be a 10-million-bbl/day shortage by 2015."

What a bunch of idiots. And to think they were the smartest and the brightest.

Interestingly, the second link in that screenshot takes you to the Russian Times and the story is still "up."

Just think, if Bernie is elected president, the Russian Times will likely be the new "government" newspaper. LOL.