Update on oil by oil geologist Art Berman
In ecological economist Nate Hagens' recent YouTube interview with oil geologist Art Berman (one of the more serious oil geologists out there, with 40 years of experience in the oil business), "Arthur Berman: "BRICS+, Strategic Petroleum Reserve, and Metaphysics" | The Great Simplification #92" (October 11, 2023), Art has the following good points:
1) He praises oil geologist Jeffrey J. Brown's work with oil export mathematics, and says that his "Export Land Model" is valid, still. Some peakoilers do not think it is valid (so on Reddit/peakoil). This was an important confirmation for my book on oil exports.
2) He says that we have lost almost 4 million barrels per day of global oil production to supply cuts by OPEC+ during the last 12 months. This is a more radical estimate than the 3,66 mbd I have encountered in articles (see for example here).
3) He says the reasons for the OPEC+ cuts were a blend of geology and politics, oil decline and oil politics.
4) He sees only decline in oil production going forward. We have reached the peak, and from now on there will be decline. This is in accordance with what I have said on this blog.
5) He says living standards will decline to the standards of his childhood, to the standards of the 60:s and 70:s. I agree, but decline will not stop there.
