Still on target……..

15 02 2014

Every year, I download the Bureau of Resources and Energy Economics’ oil production data.   BREE’s data comes in spreadsheet form, and are official Federal Government data…… they are not numbers I make up, and as anticipated, the news are not good.  The production rate has fallen year on year during 2013 by a whopping 18.3%……  as I keep saying, imagine if the economy itself shrank this fast…?

The spreadsheet is available at http://bree.gov.au/sites/default/files/files//publications/aps/2013/aps-209-201312.xls if you want to see for yourself.

Using this data, I produced the following chart:

oil2020

As you can see, we are still on target to totally run out of oil sometime around 2020, which is now just six years away.  The silence over this gobsmacking trend is deafening…..  Of course, it is just a projection, a trend.  Things could miraculously improve, but they could also get worse……  for instance, why does it say on the spreadsheet “Petroleum production by basin data is currently under review and publication of this data is suspended until further notice.”?  The cynic in me can’t resist the idea they’re hiding something…..  like, is Bass Straight on the cusp of collapse?

Meanwhile………:

Australia’s $50 billion petrol industry is set for its biggest shake-up in decades, with energy majors Royal Dutch Shell and BP considering the sale of refineries and petrol stations in order to free up cash for their core energy production businesses, reports The Australian Financial Review.

Shell chief executive Peter Voster said in November last year that the company was “entering into a divestment phase” amid rising costs for energy projects and investor concern about capital expenditure…..

It is believed BP is also examining a $3 billion sale of its petrol stations and refineries in Queensland and Western Australia. BP supplies fuel to about 1400 petrol stations of which it owns about 225….

There is speculation Chevron may follow BP and Shell and consider selling out of service stations in Australia. A spokesman would not comment.

You can add these as yet more red flags to the collection of automotive manufacturing collection.  I expect QANTAS will be the next bull in the china shop…..

The adults morons running this country not only have no idea of what’s going on, they want to make it all even facepalmworse….

APPROVAL for a second Sydney airport at Badgery’s Creek could be given within months, with federal Treasurer Joe Hockey pushing to fast-track a decision to include the project in the government’s first budget.

Wonders will never cease….. if this goes ahead, it will be finished right on time for no fuel available to run the planes.  And you wonder why I think we’re screwed…