The GREEN MOVEMENT is a total joke. It’s not doing anything to fix the problems that it says it wants to fix. Actually…
According to the Washington Post article published yesterday, Denmark was the first major oil-producing country to announce a deadline to end oil extraction. While this may sound like a “Victory” for the Green Energy Movement, there’s a catch. While Denmark announced that it would end all oil extraction by 2050, the country will likely run out of oil reserves well before that date.
I find this quite hilarious because all anyone has to do is look at a bit of data, and you can find out that Denmark’s oil-producing days are quickly coming to an end… WITH OR WITHOUT GREEN ENERGY.
The Washington Post article titled, Denmark becomes first major oil-producing nation to set deadline to end extraction, stated the following:
The decision was applauded by some environmental activists, with Greenpeace celebrating it as a “watershed moment,” although other groups had hoped for a faster timeline.
Denmark’s new rules mean companies will be barred from receiving new licenses to search for and extract oil and gas resources. Previously issued licenses will remain valid until 2050.
Denmark is the top oil producer in the European Union, but it has come under mounting pressure as the E.U. aims to become carbon-neutral within the next 30 years.
“It’s a historic decision for Denmark,” Dan Jørgensen, the Danish climate and energy minister, told The Washington Post in an interview Friday.
Please note the BOLDED text in the quote from the article above. What a laugh indeed. “The decision was applauded by some environmental activists??” Are you kidding me?? Even Greenpeace celebrated it as a “WATERSHED MOMENT.” Listen, I really admire some of the work being done by Greenpeace, but this is pure BOLLOCKS.
And what is even more hilarious is the Danish climate and energy minister, stating that it was a “HISTORIC DECISION.” Seriously, what are these leaders smoking nowadays? This is nothing more but worthless political pandering.
Why? Let’s look at the data. First, here is Denmark’s oil production from 2005 to Aug 2020.
In 2005, Denmark was producing 380,000 barrels per day (bd), but it was down to 68,000 bd in August of this year. Part of the decline could be covid related, but as we can see, production has been steadily declining. While Denmark’s oil consumption has also been declining, the country became a net importer in 2015, if we look at the chart below.
In 2015, Denmark produced 158,000 bd but consumed 161,000 bd. In August this year, Denmark was a net importer of 80,000 bd (148,000-68,000 bd). What else can we take away from this besides the Denmark energy and climate minister being totally disingenuous in looking at this data? I tweeted about this yesterday:
WHAT A JOKE….— SRSrocco Report (@SRSroccoReport) December 4, 2020
With Denmark's oil production falling 73% in the last 15 years, the country would probably run out of reserves by 2050.
So, to say that Denmark will set a deadline for 2050 to end oil production when it would likely run out…
… is disingenuous at best. https://t.co/i95ZEwcSRn
And, if we go by the 2020 BP Statistical Review, Denmark’s total oil reserves are about 400 million barrels. Thus, if Denmark produces 100,000 bd, that equals about 36 million barrels in a year. This means the 400 million barrels of reserves may last 12-13 years. If production declines, they might be able to stretch it to 2050… RIGHT WHEN THEY PLAN TO EXIT ALL OIL EXTRACTION… LOL.
Again… SERIOUSLY, you can’t make this SHYTE up.
Lastly, I am all for doing what’s best for the planet, humans, animals, and the climate. However, the GREEN MOVEMENT is a total joke. It’s not doing anything to fix the problems that it says it wants to fix. Actually, the GREEN ENERGY movement is doing more harm than good.
DEGROWTH is coming whether we plan for it or allow it to occur in 3D-TECHNICOLOR CHAOS STYLE.
DISCLAIMER: SRSrocco Report provides intelligent, well-researched information to those with interest in the economy and investing. Neither SRSrocco Report nor any of its owners, officers, directors, employees, subsidiaries, affiliates, licensors, service and content providers, producers or agents provide financial advisement services. Neither do we work miracles. We provide our content and opinions to readers only so that they may make informed investment decisions. Under no circumstances should you interpret opinions which SRSrocco Report or Steve St. Angelo offers on this or any other website as financial advice.