Stats for nerds
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100% recommend
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What Hacker News says
- Oil 101 by Morgan Downey is one of the worst-edited books I've ever read, yet the amount of knowledge contained in that book is astonishing. The petroleum markets are vital to the financial system, as we saw on Monday when oil over-supply catalyzed a downward move in global equity markets.
- It seems more than optimistic to put the cost at $70/barrel for coal liquefaction, and it makes me question the validity of the source. It's an energy intensive process that is usually seen as much higher than $70, and the alternative economic uses of the energy used in production are usually going to be better.
Not only do you still have to spend energy mining and transporting coal, but the energy spent refining the coal is immense compared to what refinable products you get out of it.
There is also market evidence where people are more willing to put their money into technological development of fracking than liquefaction.
It's best to be suspicious whenever a source suggests that coal liquefaction, and other processes like it, are that simple. A good book on the topic is Oil 101 by Morgan Downey.
