to take up a few points if I may
in1909 drilling technology was basically ‘drill and hope’ There was no seismology to pinpoint oil domes. Now we know where all the oil is,
My charts showing oil production are unequivocal — the downward trend since 1947 is quite clear and fully documented— the oilsands and tarsands cannot reverse this. The USA becoming No 1 doesnt change anything and in any event will be short lived. The USA isolating itself will not alter anything
The economics are clear, Oilsands return 6:1 EROEI, Saudi oil return around 18:1 — -this is why the Bakken is just an investment drain, not an oil profit venture. In the 1st half of the 20th c — return was 100:1 All this info is readily available
The Bakken is not ‘new oil’ it was known about in the 1950s. Extracting it now is a final act of desperation. It doesnt, and can’t make any real profit.
No1 in oil is political hype (by ‘you know who’!!)
the problem is not the oil in the ground (we can never extract all of that) but the cost of getting hold of it and using it to provide employment (all jobs depend on fuelburning)
oil is of no value until it is burned
If the cost of extracting it is greater than the work-value in produces, then ultimately it will stay where it is. What we are doing right now is borrowing money in the vain hope that our future is going to be an oil rerun of the past. It isn’t
As to hydrogen — -to use that in high volume will require the rebuilding of the entire oil-fuel system infrastructure. A conventional petrol station cannot just start dispensing hydrogen.
And guess what will be needed to do that (even supposing it was possible?)
And no EVs can run outside a fossil fuel based infrastructure