On this episode, petroleum geologist Arthur Berman returns to discuss recent diesel shortages and go into depth on the importance of diesel and the complexity of getting it and other products from a barrel of crude oil. He and Nate also talk about the nuances of the global oil market as it shifts from the effects of the Russian/Ukraine war. Is the USA really a net exporter of petroleum and energy independent? And would making every car and truck on the road electric powered free us from needing crude oil?
Arthur E. Berman is a petroleum geologist with 36 years of oil and gas industry experience. He is an expert on U.S. shale plays and is currently consulting for several E&P companies and capital groups in the energy sector.
For Show Notes and Transcript visit: https://www.thegreatsimplification.com/episode/44-art-berman
Correction - Art misspoke saying propane is heavier than butane, in actuality butane is heavier than propane.
00:00 - Guest Introduction
02:35 - What do we get from oil?
05:46 - What is diesel, why is it important, and why isn’t it in the news?
08:59 - Why can’t we use gasoline to replace diesel?
14:39 - Was the oil at Spindletop also relative to the rest of the world, light oil, and what are the differences in oil?
17:09 - Process of oil refineries and uses of each part of the barrel of oil
28:57 - How will we create roads if we have to go fossil free?
30:19 - Vaclav Smil: 4 pillars of modern civilization
34:53 - Biodiesel and other alternative energy
39:35 - What does technology do for us when we have a declining amount of access to energy every year?
41:56 - Complexity issues of oil refining process
46:04 - Will there be U.S. refinery issues with oversupply of light oil?
49:06 - Desire to build the Keystone pipeline
50:44 - United States: an oil exporter?
53:26 - U.S. energy independence and oil usage
57:52 - Nate’s key takeaways and Art’s response
1:01:10 - What are the risks of the current refining situation and the current price of diesel over the next decade?
1:04:57 - What are some of the measures Art would put in place if he were in charge to ensure we were more resilient to an energy scarcity future?
1:09:41 - Final thoughts
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