The Great Simplification #54 – Arthur Berman: “Peak Oil – The Hedonic Adjustment”

| January 30, 2023 | Leave a Comment

The Great Simplification

Item Link: Access the Resource

Date of Publication: January 18

Year of Publication: 2023

Publisher: The Great Simplification

Author(s): Nate Hagens

In this episode, petroleum geologist Arthur Berman returns to unpack the development and drawbacks of ‘peak oil’.

Art explains how our institutions have redefined what is considered oil, which has created an illusion of constantly growing oil production. The reality is that – circa 2023 – fully 40% of what is called oil is comprised of things that are ‘not oil’. What does this imply for global peak oil? Is peak oil, an observation which has been around for decades and repeatedly proven ‘wrong’, even relevant today? Is a specific ‘peak’ date even helpful or should we be focusing on the logical implications of a declining primary resource for global economies? And then, what should we do?

About Arthur Berman

Arthur E. Berman is a petroleum geologist with 36 years of oil and gas industry experience. He is an expert on U.S. shale plays and is currently consulting for several E&P companies and capital groups in the energy sector.

Listen to the podcast here.

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