The Colorado River is drying up because of climate change, putting millions at risk of 'severe water shortages' - CNN

[Outside]

With Saudi and Russia production war and SB willing to produce 102 mil barrels/day the current West Texas Int price at 19.84/barrel (first time below $30 in 4 years). Producers need what $40-60/barrel to make production profitable? with demand projected to contract in 2020, very bad news for domestic companies, who are deeply in debt with their oil fields used as collateral (which is half the value what it used to be).
Crazy thing is world population growth and China and India moving away from public transport to mopeds and cars the world may only want 90 million barrels a day. With COVID-19, less cars and trucks on the road with demand falling and production increasing, depending on how long SB and RU play chicken oil prices may dive off a cliff. Riyadh has no problem with +/- $30/barrel, some projections are prices at $10/barrel later this spring. Only the deep pockets will stay in business in the coming year. This is on top of 5-year run which the market has destroyed 90% of the value of US investor stocks in oil services....
I doubt this is the death spiral for the oil industry but I presume a huge push for electric vehicles and renewables in the future to pick up the slack which will be a good thing in and of itself.
This is my last post on this one too. Haven't changed any minds but got some off my chest. I'm a LP rookie and would never insult a WW member, it does feel like a virtual family, crazy uncles and all. Love to you all and one of the most incredible places on earth!!!
God I wish I was there with my family and friends right now

 

[Edward Gerdemann]

History show these changes of warmer, wetter, colder, more ice, less ice , have been going on for longer than man has been burning fossil fuels.
There are many scientists that debate the cause and affect of CO2 to this day. Many scientist earlier in the last century predicted adverse cooling, they were wrong, I am sure they believed and had studies that supported these beliefs. I am not convinced the current crop predicting global warming ( now some evidence shows we (MAY be cooling) or now CLIMATE CHANGE will be any more correct … Only time will tell...………..... To say that science is not influenced by politics, look at how science and politics are playing out on our REAL current problem Corona virus...

There are many in the geological, geophysical, geochemical, sediment study and paleontology fields that believe much, not all but much, of the current changes in climate are a result natural things that have been going on since the beginning of time. The mere fact that the world's population has exploded in the past 70 plus years and all that comes with it has undoubtedly had an effect on the climate, but most of these issues would be happening whether there were humans on this earth or not. In the above-mentioned fields climate history is studied intensely because climate history tells us a lot about earth history - particularly in its formation. Just 10,000 years ago there was a glacier sheet 50 feet thick that came as far south as the Missouri River, and it was global warming that had little if anything to do with human activity that caused that sheet to retreat.

Ed Gerdemann