Oil is no longer an asset

Oil is going to be around for a while longer, but gone within my lifetime (I'm 50, figure in 50 years). The idea is investing in big projects with short life spans is not profitable; there is no ROI on the oil sands or underwater projects. That is why I think it is all about share sales, not industry development.

 

I found it funny last year when Suncor brought in autonomous, EV trucks to the oil sands...it was incredibly ironic an oil company was using electric vehicles, and no one considered the ramifications. They wanted to make a buck, and didn't care the human cost. So, we had truckers out advocating for the pipelines (note, no PR firms) even though those building the pipelines are getting rid of those trucker jobs. The issue was not industry development, but industry profile to sell shares.

 

Oil is the energy. A car can go from A to B without oil; ICE cars cannot. A horse is the energy in a horse and buggy scenario, and you are right, whip the incentive. Once alternative energies were found, new ways of moving were found. EVs replace ICE cars; cars replaced horse and buggies. The whips and ICE cars were similarly abandoned. It's not the best metaphor, and I wish I could remember the writer. I think the market has already peaked, probably last year, and we are having pointless debates.

Comments

Will Meek Added Feb 11, 2019 - 9:22pm
Estimate currently say that ICE light vehicle sales are down and that overall light vehicle sales are up only due to a large increase BEV sales.
 
This means that, so far at least, peak ICE sales happened in 2017.
The Owl Added Feb 11, 2019 - 10:48pm
Interesting... Didn't they just announced another significant discovery capable of delivering 2,000 barrels a day when fully developed with another field anticipated to be located nearby?
 
I agree that oil field will be pumped dry in the geologically near future.  My guess is that it may take another five or six centuries, certainly long enough for "man" to develop viable alternative energy resources.
 
The smart, really long-term money should be on nuclear as not fission and fusion can release mind-boggling amounts of energy.  The engineering problems revolve around containing the release, converting the released energy to sorting usable, delivering that which is generated, and disposing of the waste.
 
Note that a reliable and sad means of getting it into space opens up the potential of launching the bad stuff into the furnace of the sun where it will just be one part of the plasma that keeps the earth green and alive.
 
Now, with Harry Reid (D-NV) out of the way, we can stop being stupid and start collecting it in a place where few, if any, would be hurt if something goes wrong...The swimming pool approach is high-risk, low reward.
The Owl Added Feb 11, 2019 - 10:52pm
Second para..."...should be on nuclear as both fission and fusion can release...."
Jeffry Gilbert Added Feb 12, 2019 - 12:07am
Not an asset?
 
Which is why DUHmerica sent Elliot Abrams to Venezuela. 
 
One toke over the line are ya? 
Will Meek Added Feb 12, 2019 - 5:03am
Jeffery Gilbert,
 
A matter of perspective. If you are guessing, as I am, that the transition to renewable energy will be largely complete by the end of this next decade and the price of oil will drop further below production costs, then oil in the ground is no longer an asset. If some countries sue over environmental damage, having been an oil producer could be a liability. 
Ward Tipton Added Feb 12, 2019 - 8:01am
Meh. When my horse breaks down I can still eat well. 
Michael B Bagala Added Feb 12, 2019 - 10:56am
Oil and gas are here to stay for a long time because they are one of the cheapest and most abundant commodities available.
 
In addition, oil and gas are not just for transportation but for home heating. Crude is an important product for the plastics, rubber, pharmaceutical and infrastructure industries.
Will Meek Added Feb 12, 2019 - 12:15pm
Micheal B Bagala,
 
Oil and gas as fuels will quickly fade away because they are no longer the cheapest.
 
They are still the most abundant, which is the only reason they are still in use, but that is changing rapidly. 
 
After it is no longer used in fuel, the price will rise rapidly as it loses economies of scale. The the other uses will change to then cheaper sources.
FacePalm Added Feb 12, 2019 - 6:31pm
JPJude-
The internal combustion engine tech is more than a hundred years old.  Tesla allegedly developed a vehicle that burned NO fuel, yet traveled a long way - but he had to keep his tech secret or die.
 
Many inventors - take Stanley Meyer as but one of dozens of examples - developed ways to travel which did not rely on fossil fuels; then, there are the dozens of guys who came up with various magnetic motors, the famous Pogue carburetor which turned liquid gasoline into literal gas vapor, and extended a car's range to a thousand miles or more. 
 
i remember about 10 years ago when people were whinging about the "oil crisis" and that it was gonna run out, soon.  Ever hear the phrase "adiabatic" oil?
 
Turns out the earth may not run out as fast as some think - and even if it does, consider that all the water on earth is comprised of 2 atoms of combustible hydrogen and one atom of explosive oxygen.  Think the oceans'll go dry anytime soon?
 
Think anyone has managed to find a way to break the covalent bonds of the H2O molecule MUCH faster and more cheaply than the ancient and inefficient method of electrolysis?
 
Did you know that the very FIRST ICE was invented by a man in Switzerland, as i recall, and that it ran on Hydrogen?
 
Ever hear of Kentucky's "water fuel museum"? 
 
The inventiveness of Man is certainly neither limited to, nor confined to, the oil industry and it's products, but due to the thousands of suppressed energy-related patents (i used be able to find the article on PESwiki, but it's been scrubbed, now - over 3 THOUSAND patents related to energy have been deliberately suppressed by competing industries, the inventors slapped with "national security" gag orders, to the point where if they dare even SPEAK about their idea or invention again, it's prison time!)
 
But to say that crude oil - or any oil at all - is no longer an asset is just damn-foolishness.  Oil will always be valuable...can you say "corn," "rapeseed," "coconut," "olive," etc.?  And in every machine which has high-speed components, non-vegetable oils will always be valuable, for vegetable oils can't handle the heat.
Doug Plumb Added Feb 13, 2019 - 2:29pm
Lefties have said that we are running out of water.
Dino Manalis Added Feb 13, 2019 - 2:38pm
 Oil and gasoline are still used and will continue to be in the foreseeable future.
JP Jude Added Feb 14, 2019 - 9:48am
Thank you for your comments...not sure how to do this. But, there is lots of information, credible stuff I am not debating it, about where drilling fields are located.
My point is the question is who is buying the oil?  All new car models in the next 5 years are EV which means, at least in one area, oil demand is decreasing; someone mentioned house heating. Yet, new houses being built all have solar readiness connections, that mean their reliance on oil is decreasing; so, a second area where oil demand is decreasing. Most oil majors have switched to petrochemicals for future investment; that means more garbage which is a whole other discussion, but also means less oil because plastic production does not need as much oil as heating and cars. Another area where demand is falling.
Someone mentioned peak ICE car production happened in 2017, I tend to agree as the secondary car market collapsed that year and I suspect 2018 was the last year for peak demand--watching the oil price fluctuation, producers want $65. but they can't get it without supply side control which means demand or free market practises aren't involved, or in my interpretation, free market won't justify that price level. Again means less demand. In Canada, the issue is not who wants to buy our oil (no one), but what else do we have to sell?
Bill H. Added Feb 14, 2019 - 11:20am
 
If the US continues ignore the opportunities in the field of alternative energy due to lobbying and pressure from Big Oil, when the time does come where we need to quickly implement these sources, we will be the whipping boys of all of the other countries who took advantage of the opportunities early and are ahead on research and production.
If we don't get off our dead asses and start making the moves wherever possible, we will become even more of a laughing stock of the world, and will be slaves to the rest of the world when it comes to procuring and paying for the technology at the last minute.
Do those out here who apparently despise even the mention of alternative energy think this is a wise decision? Really?
Will Meek Added Feb 14, 2019 - 1:56pm
Doug Plum,
 
No, the lefties say we are running out of clean drinkable water 
Will Meek Added Feb 14, 2019 - 1:59pm
Dino Manalis, 
 
Guess that depends on how you define forseeable. I suspect our fossil hydrocarbon use will drop by 99% over the next 20 years.
 
I would even bet it drops by half by 2030.
Bill H. Added Feb 14, 2019 - 8:13pm
 
Will - The only reason we are running out of clean drinkable water is because there are too many humans using it.
There will always be a finite amount of water on the Earth, but we are upsetting the water cycle.
Will Meek Added Feb 14, 2019 - 9:28pm
Bill H,
 
That and we keep pumping fracking fluids into it.
Michael B Bagala Added Feb 15, 2019 - 8:04am
Will
Petrochemicals are needed for a slew of industries outside of transportation including Rubber, Plastics, making of glass, (Gas or coal), Pharmaceuticals, Infrastructure (asphalt for roads, building material), Cosmetic industry, textiles, and new industries will come up because of the  complexity of the Carbon compound that makes petrochemicals. Not easily and cheaply duplicated.
Michael B Bagala Added Feb 15, 2019 - 8:05am
also tar
JP Jude Added Feb 15, 2019 - 10:00am
Thank you again for your comments...Most oil majors still see money in oil even as they recognize its usage is decreasing, BP sees its end point as 2040 (which I think highly optimistic) and the new issue is petrochemicals. The first, and very big problem, is garbage; so, whatever your views, the real money is in getting rid of it. I see de-construction as the issue, some see recycling, but the corollary is allergies. People are having serious reactions to everyday items, not even all plastic but the majority are, so alternatives to plastic is a growing market. What is happening to food brands, people choosing not to buy known items, is likely to happen to plastic stuff, think alternatives to Tupperware, probably also to make-up, inflatables, skin creams, possibly also furniture. I think that is the next big "collapse," and something is coming...
Michael B Bagala Added Feb 15, 2019 - 11:23am
JP
Venezuela's oil reserves were bumped up to surpass that of Saudi Arabia
The oil reserves of South America could be greater than that of the Middle East (800 billion barrels)
Deep sea oil finds are just beginning. 
Amazingly little Sri Lanka has discovered commercial levels of oil off her coast. 
I agree with you on the toxicity of oil-based products, but there are few alternatives to asphalt or Tar for infrastructure. Plus there are many things in construction that are petroleum based, including heavy duty plastic pipes across the nation. The space industry has endless uses for plastics. 
Polyester, Acrylic and Nylon have uses outside of clothing. 
Then you have the Rubber industry, 
FacePalm
I was really fascinated by your comment and learned so much. I did not even know about abiotic oil. Thanks for the information.
Thomas Sutrina Added Feb 15, 2019 - 11:26am
The religious dogma of the socialism is strong with in may of the responses.  No facts, no citations, just dogma.  
 
Obama said he would regulate the coal burning power plants out of business.  Basically use laws instead of the free market to make coal too expensive.   So I assume that your claim that oil and natural gas will be regulated so that it becomes too expensive.   We do know that the Obama administration did implement regulations to make oil and gas harvesting more expensive by limiting drilling.   
 
I do agree that government can make carbon base fuels more expensive then renewable energy.   
 
As an engineer involved in aircraft electric power generation  and the distribution system, have designed a vertical wind turbine, and worked for a component manufacture for solar energy.  I can tell you that the complexity and cost of a renewable energy system will keep our carbon power plants in operation for decades and may never replace them and I will add nuclear.  
 
The sun goes down but power consumption doesn't end at sun set.  The wind slows up when it passes through a wind farm and the wind is not steady.  So as more farms are added the effectiveness will significantly decrease.  The energy loses in transferring energy and storage plus the cost is and complexity of actually synchronize them also adds more cost.  None of this is considered by the dogma of climate change.  
 
 
If global warming, cooling, or just change is important and we are at war with global climate change by human action.  Then logic would suggest that we are at war with the biggest polluters where ever they are at.  China pollutes about twice as much in all categories compared to the USA.   Yet no mention of China and no economic actions are being supported or proposed by the Democrats that support global climate change.
Michael B Bagala Added Feb 15, 2019 - 11:41am
The sun goes down but power consumption doesn't end at sunset.
Wouldn't battery technology continue through the night.? Solar energy recharges batteries which store the energy to be used at night. only to recharge the next day
Battery technology is rapidly evolving. 
JP Jude Added Feb 15, 2019 - 2:43pm
Thanks again for comments...My point is DEMAND for oil. Energy usage has gone up; hence, stuff like solar is being used because it is just cheaper than oil. It doesn't matter who has whatever amount of oil, the big deal is in who is actually buying it. In all honesty, the only place I can find that has actually increased its purchases of oil is the American Military, and I suspect that won't be for long. Technology is changing how wars are fought; so, jeeps are no longer the big deal, drones are.
FacePalm Added Feb 15, 2019 - 5:56pm
You're welcome, Michael.
There will be no end to inventiveness and creativity, is the point.
 
Hope you also checked out Stanley Meyer and those who've duplicated his inventions for "tickling" water into its hydrogen/oxygen components, too.
 
After all, if every ICE today was converted to run on hydrogen and bleed off the O2 into the atmosphere, the results for human health will be incredibly good; some say that the 7-900 year ages attained by the Israelite Patriarchs was a direct result of much higher levels of O2, and that dinosaurs could not possibly have existed without the same, confirmed by deep ice samples.
 
And the byproduct of combusting hydrogen?  Negligible amounts of carbon - LOTS of water.  The only change which would be necessary is to replace current exhaust pipes with chrome steel, so the rust factor wouldn't be too bad.
 
The way i understand it is that the oil companies put the waste byproducts of cracking oil into gasoline, so they don't have to worry about disposal of them - instead, every vehicle must be equipped with a catalytic converter, a "portable hazardous waste unit" which does the job that oil companies SHOULD have, and the exhaust from vehicles still poisons the atmosphere and everything that breathes it.  But not if H2 was burned, instead.
 
You might also be interested in a curious development: HHO.
Michael B Bagala Added Feb 15, 2019 - 8:18pm
Facepalm
I am familiar with using water as an energy source by breaking it down into its hydrogen and oxygen molecules. Increase in Oxygen can only go so high. We cannot live in an atmosphere that is too oxygenated. we will actually speed up the aging process such as Free radicals
but an increase in oxygen will increase animals that feed on oxygen and the biggest ones would be the smallest such as bacteria, fungi, insects, which may or may not be a good thing to plant life.  Thanks for the link.
JP
Though US is the largest consumer of oil (19 billion barrels), China is the largest importer of oil (8.4 billion barrels vs 7.9 billion for the US) and China's need for oil is voracious, so is India's and other developing nations. 
Michael B Bagala Added Feb 15, 2019 - 8:21pm
If we want the world to move away from oil and use new technology for modern economies then Trump will have to stop his two-faced rhetoric that China is stealing tech in order to modernize
while we give Parasitical Israel all the tech she needs to remain at the forefront of technology.
stop playing games when it comes to leadership and share technology.
Neil Lock Added Feb 16, 2019 - 6:00am
A bit over a year ago, TBH (who is something of an expert on the North American power grid) wrote an article about energy sources, and renewables in particular:
 
http://writerbeat.com/articles/19347-Our-Energy-Grid-and-Alternative-Energy-Sources
 
There's quite an interesting comment thread there, too. 
JP Jude Added Feb 16, 2019 - 8:54am
Thank you all again for your comments. One fellow wrote about increasing demand for oil in China and India; they are the two emerging economies we most hear about. Their need for energy has grown, their reliance on oil has not. China is sincerely going off oil, sometimes the transition is hard, and they actually have a bigger problem with coal...we all have heard about their air quality issues. The big deal about Chinese import figures are to consider what the Chinese government imports verses the teapots, the smaller, private importers and the stats are determined by the teapots, most of their oil is held, bought at one price sold at another. The fluctuation of how much oil is actually there is how we get our figures; if demand was actually growing Chinese government figures would change, they do not. If the teapots actually had bearing on the market, oil price would change. Demand is not growing because producers and how much oil they produce still determines the market price, not customer demand. I am not as familiar with India, except they have the same issue with coal. What I do know is Modi is building green infrastructure, there are EV cars and buses, there, and I am curious to see what happens to trains. It's not so much oil demand is growing in India as energies are being supplied by other sources. So, I debate the notion again that oil demand is growing. Something commenters should consider is that if all the news is production figures, one might wonder why demand growth is always presumed and never articulated. Thank you so much, I won't be commenting again.
Michael B Bagala Added Feb 16, 2019 - 10:16am
Thought I would share these articles. this is from Forbes:
Asia's Insatiable Oil Demand
 
--  There are three major demand centers for oil in the world: The U.S., the European Union, and the Asia Pacific region. Cumulatively, these three areas are responsible for two-thirds of global crude oil demand.  
But demand in the Asia Pacific region climbed from 9.1 million BPD in 1973 to 34.6 million BPD in 2017. This 280% increase in demand is the primary reason the global demand curve has marched steadily higher. 
Michael B Bagala Added Feb 16, 2019 - 10:20am
This is from  CNBC:
 
India is set to overtake China as the top driver of global oil demand growth

India is set to overtake China as the biggest source of growth for oil demand by 2024, according to a forecast announced Monday by research and consultancy group Wood Mackenzie.
The country's oil demand is set to increase by 3.5 billion barrels per day from 2017 to 2035, which will account for a third of global oil demand growth. India's expanding middle class will be a key factor, as well as its growing need for mobility, according to Wood Mackenzie.
On the other hand, China — currently the second-largest oil consumer in the world — may soon need less oil. In 2017, it overtook the U.S. as the biggest importer of crude oil, but it's set to see a decline in oil demand growth from 2024 to 2035, Wood Mackenzie Research Director Sushant Gupta told CNBC.
We think the most likely situation is that India would need between (3.2 million and 4.7 million barrels per day) of new capacity out to 2035 to remain self-sufficient in transport fuels. So we are talking about a future capacity which is 1.7 to 2.0 times the current. This is clearly an uphill task, unless domestic refiners can commit to their planned capacity additions," Gupta said in a Wood Mackenzie release accompanying the India demand projection  
Jim Stoner Added Feb 16, 2019 - 2:18pm
I don't agree with the headline, though you have raised some good facts in the discussion. 
Refining reserves into fuel products today reduces the value of the asset; keeping them in the ground will do more, long-term.   At the rate we're going, in 50 years we will be mining landfills for the plastic bags with dog poop in them.  For the petrochemicals and hydrocarbons in them; not for transportation fuel. 
Jim Stoner Added Feb 16, 2019 - 2:20pm
Water:  90% of the fresh water on earth is in Antarctica.  I shudder to think what that will mean over the next 100 years, with the glaciers melting, widescale drought, and emerging nations looking to expand their operations there. 
Logical Man Added Feb 16, 2019 - 4:22pm
Oil has mostly been a curse, rather than an asset, for almost every country god put America's oil under.
 
Michael B Bagala Added Feb 16, 2019 - 8:21pm
Logical Man
Oil has mostly been a curse, rather than an asset, for almost every country god put America's oil under.
 
Could you explain? America's age is over. The Asian Age has begun. It only took a brief pause in the last 200 years. Asia will reclaim the central power that she has been for most of the history of civilization. 
 
Logical Man Added Feb 16, 2019 - 8:34pm
If you need me to explain that, you are not watching closely enough.
Iraq, Saudi Arabia, Libya, Iran, Nigeria, Venezuela....
The petro-dollar is backed by US military and gives US pretty much a blank cheque.
The American age is not yet quite over but when it finally is, things will get very interesting.
 
Will Meek Added Feb 16, 2019 - 9:04pm
Micheal B,
 
I have no problem with petroleum as a structural material. I am just against burning it.
 
But I suspect that as demand for fossil fuels drops, the cost of petroleum will rise as economies of scale dissapate.
 
After that we will likely turn to plant sources of hydrocarbons. There is not enough land to provide fuels from plants but we can provide structural material from them. And in about 20 years, I expect it will be cheaper than drilling for oil, and fewer national security implications. 
FacePalm Added Feb 17, 2019 - 1:02am
One should not ignore "thermal depolymerization," either - it's basically a way to use heat and pressure to accelerate the decomp process and turn organics into #2 grade fuel oil, as well as a way to separate materials into their constituent components.
 
In future, landfills WILL be mined...and turned into saleable products.
Ward Tipton Added Feb 17, 2019 - 3:10am
"One should not ignore "thermal depolymerization," either - it's basically a way to use heat and pressure to accelerate the decomp process and turn organics into #2 grade fuel oil, as well as a way to separate materials into their constituent components.
 
In future, landfills WILL be mined...and turned into saleable products."
 
I have access to that technology right now in the form of helioconverters ... with zero exhaust. A net loss on NG production as the NG is used to heat ... without combustion ... meaning no exhaust. The owner however, is paranoid as he believes the tech will be bought out and buried in the name of "national security" or he will just be disappeared. So far, we are also having some issues raising the twenty million it is going to cost to get the machines into commercial production. 
 
Byproducts from processing MSW (Municipal Solid Waste) and Wastewater are water ... which can be further distilled making it potable, biochar, biodiesel and NG ... though again with a net loss of NG ... which can be subsidized through more "traditional" digesters from largescale livestock production ... at least as long as eating meat is still legal. 
Michael B Bagala Added Feb 17, 2019 - 10:13am
Facepalm
The Petro Yuan came to mind when I read the Petrodollar in your comment. I believe the emerging markets will gravitate to the cheapest source of energy and that would be coal, oil, gas. 
Qatar which has the world's largest gas supply is trying to form a cartel of gas sellers. China is reducing oil but increasing her imports of gas. 
Ward
I am impressed. Best of luck and good fortune to you.
Ward Tipton Added Feb 17, 2019 - 4:13pm
Luck is nothing more than being prepared for the opportunity when it arises ... making the opportunity is the challenge. It will be interesting if we can get it out without it being buried as "National Security" ... but that is one of the reasons we will be building the original units in Europe as well. 
 
Michael B Bagala Added Feb 17, 2019 - 4:43pm
Ward
 but that is one of the reasons we will be building the original units in Europe as well. 
 Europe seems to come to the rescue for both of us. As you know I intend to flee this nation for Europe, come hell or high water.
Ward Tipton Added Feb 17, 2019 - 11:58pm
You and I have very different reasoning behind our actions however. 
FacePalm Added Feb 18, 2019 - 6:56am
Michael-
Facepalm
The Petro Yuan came to mind when I read the Petrodollar in your comment.

That's interesting, in that i never mentioned either.  Both IME and FMO, those who imagine the existence of something often use that imagination to create an easily-defeated straw man.
 
I believe the emerging markets will gravitate to the cheapest source of energy and that would be coal, oil, gas. 
IME, smart businesses always minimize expenses and maximize returns.  America has far stricter clean-air standards, and China doesn't give a crap about their citizens.
 
Qatar which has the world's largest gas supply is trying to form a cartel of gas sellers.
Interesting, perhaps, but i believe that Alaska has far more NG than Qatar could ever hope for, and can extract and market it far more effectively - but even if price-wars ensue, end-users will ultimately benefit the most.
 
China is reducing oil but increasing her imports of gas.
The ChiComs are an oppressive, suppressive, murderous regime, and need to relinquish control by abandoning tyranny, or they'll find themselves on the wrong side of history, and end up like the supine, defeated tyrant under the foot of triumphant Liberty, as depicted on the flag of Virginia, whose motto is "Sic Semper Tyrannis."  If China has no oil refineries, they'll be consumers - not producers - of quite a few goods...and will fall far short of their intent to dominate world markets.
As to their energy needs, they'd be FAR better served to build molten-salt thorium nuclear plants - but so would the US.  Unless and until far better solar panels and batteries are invented, nuclear power is far more efficient, pound for pound, than any other power source.  Breeder reactors are far too radioactive, and far too dangerous in the event of a major earthquake.
Michael B Bagala Added Feb 18, 2019 - 10:24am
Ward
You and I have very different reasoning behind our actions however.
To some degree. I was an accomplished artist, partly because I was among the right crowd in the Bay Area. In Tuscany, I know it would be a different world for me.
The books banned here will not be banned there. Europe provides opportunities that America once did. 
FacePalm:
 That's interesting, in that I never mentioned either
Yes, you did and I quote "The petrodollar is backed by US military and gives US pretty much a blank cheque."
 
as of January 1, 2011, reserves of natural gas in Qatar were measured at approximately 896 trillion cubic feet (25.4 trillion cubic metres); this measurement means that the state contains 14% of all known natural-gas reserves, as the world's third-largest reserves, behind Russia and Iran
So you are right. Qatar has the 3rd largest but as "nonassociated natural gas" it is the largest" 
 
 
FacePalm Added Feb 18, 2019 - 11:16pm
Bagala-
I don't know who you're quoting, but it certainly wasn't ME.  i never spell "check" as "cheque," for starters.
 
With a quite brief scan, i was able to determine that the author you quoted was Logical Man.
Will Meek Added Feb 19, 2019 - 5:35am
FacePalm,
I have not heard anything new about thermal depolymerzation in over 20 years, do you have any recent references? It seemed really promising before it seemed to get buried.
Michael B Bagala Added Feb 19, 2019 - 12:11pm
Facepalm
Really sorry about that. I am just out of operation. Heavy on the meds, pain killers and dripping blood all over the place. I can only do so much on the computer before i have to rest.  Percocet, Valium, and other meds do not make a clear mind.
FacePalm Added Feb 20, 2019 - 9:56am
Will-
Many promising techs get buried.  As i believe i mentioned previously, PESWiki used to have an article detailing over THREE THOUSAND energy-related patents which have been classified "Dangerous to National Security," followed by gag orders to the patent-seekers, who are forbidden to speak of their idea or invention to anyone again on pain of immediate long-term incarceration - which i believe is at the behest of the current power structure, which desires to maintain the status quo and continue to rake in the Big Bux.  Big Oil, Big Banks, and Big governments are the unholy trinity keeping mankind down, until they can take us out.
 
But as Ward mentioned, earlier, there have apparently been advances in this sort of tech.  Websearch "Helioconverters" and read up, if you like.
FacePalm Added Feb 20, 2019 - 9:58am
Michael-
I understand.  Sorry you're currently suffering and recovering(hopefully) from the operation or whatever.  Watch out you don't get addicted, or if you do, demand the withdrawal-free blood filtering procedure that Keith Richards often gets when he's strung out on heroin.
Jim Stoner Added Feb 20, 2019 - 12:54pm
Michael,  Sorry for your pain and suffering.  I've been going through the medical mills some this month, both for me and my wife.  Escape while you can!
 
The Chinese are well aware of their dependence on other sources of energy and are doing something about it in a serious way. (lining up sources, like Iran, for petroleum products, big solar investment)  The US, on the other hand, is currently taking an extreme short-term view; that will have to change before long. 
Michael B Bagala Added Feb 20, 2019 - 11:03pm
Facepalm Jim Stoner:
Thank you so much for your concern. I just visited the Doctor today and had the stitches removed. The operation was a result of a previous operation back in 2014 where they had to remove 3 discs from my spine and a calcium deposit pinching my central nerve. 
They entered through the front of my throat and moved the esophagus to the side. In the process the Neurologist nicked one of my arteries which busted when I was just removed from surgery. Luckily someone was in the room. It took exactly 10 seconds for my neck to fill with blood. I counted (one thousand and one...). I was very calm while 2 ladies kind of held my shoulders and seemed to be comforting me.
By the 10th second i could not breath and told so with whatever breath I had. I began to suffocate and the room went into panic. Doctors rushed in, yanked the stitches out and a fountain of blood continued to spurt from my throat. I must have looked like some horror flick which was made worse by my calm demeaner as I jockingly told them that the fountain of blood which I could see spurting ahead of me, "looks like the Tivoli gardens". None Knew what I meant but there is a fountain in that Italian Garden that flowed in a similar manner to my blood. All had their eyes wide open as they looked upon me as if they are seeing death speak. 
I was rushed for a 2nd operation to save my life. That is when all went wrong. They saved my life but damaged my hearing, throat and nasal/Sinuses. I got tinnitus, could not swallow food without chocking and the sinus/tinnitus caused my paratoid glands to swell up.
In the meantime, UC Canceled by Blue Cross blue shield. that required another fight to get it back. Finally, I am doing the operations to fix the problems caused by that 2nd operation to save my life
This was to fix almost a collapsed septum. I also invested in a new nose. (vanity). both surgeries ended up with my nose being completely redone.  No. I am not like Wacko Jacko. 
next operation is liposuction. I am not obese but I want that surfer body which requires a tummy tuck and fat removal. 
Now I have weeks of massaging my nose into that perfect shape. It is painful. 
Michael B Bagala Added Feb 20, 2019 - 11:05pm
This operation has already reduced my Parotid glands to normal and the Tinnitus (so far) has gone away. All I have remaining is the throat problem.