Why exactly did oil prices tank in 2015-2016?

Pekelo said:
Speaking of geographical peaks, I will throw in 2 less well known facts. Coal has peaked in the USA back in the 90s, IIRC. We do produce more coals today measured in tonnage, but not in max. calories. In short, there are 3 types of coal (high, medium,low) and obviously coalminers went first for the low hanging fruits, that being high calories coal.

The other fact is that the US reached peak water back in the 70s. That is right, a replenishable item and we are running out of it. Now one might ask, how come when eventually it is going to rain? Well, we have been using not just replenishable rainwater, but water from the ground, what has been there for millions of years. In short we are using up the extra storage water, and that won't be replaced, thus overall we are in the red with water.

The point is here that we can have peaks in non-replenishable resources...
More...

I read something online today that was very timely to what you just said.....

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On April 18–19, the Chinese and Indian defense ministers will meet in Beijing to discuss border issues. At the top of the agenda will be how to improve stability along the border, where both countries have overlapping sovereignty claims.

Second are Indian concerns that China might build dams capable of diverting the Yarlung Tsangpo away from India. These concerns have circulated in India for years, most notably in Brahma Chellaney’s writings on the coming Sino-Indian “water wars.” In fact, Chinese academics have considered a variety of river diversion plans focused on alleviating domestic water shortages, including one by a former PLA officer titled Tibet’s Waters Can Save China that received much domestic and international attention.

http://nationalinterest.org/feature/water-war-river-could-sink-china-india-relations-15829

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The U.S. Energy Information Administration, in its latest Short-Term Energy Outlook, stated that the U.S. production of coal last month totaled 52 million short tons — which was a 36 percent decrease from levels seen just one year earlier, in March of 2015.

However, in 2015 that dipped to 895.4 million short tons, a drop of more than 100 million tons in just one year.

The major contributor of lower coal production in the most recent STEO compared with a year ago is the increase in natural gas used in the electric power sector, mainly because of lower natural gas prices.

https://www.washingtonpost.com/news...s-show-just-how-fast-were-switching-off-coal/
 
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