There Will Be Oil

Login or register to post comments Last Post 6506 reads   27 posts
Viewing 7 posts - 21 through 27 (of 27 total)
  • Tue, Sep 20, 2011 - 01:10am

    #21
    ewilkerson

    ewilkerson

    Status Silver Member (Offline)

    Joined: Jul 18 2010

    Posts: 213

    count placeholder

    HMMMMMMMMMMMMM, I think TV

HMMMMMMMMMMMMM, I think TV is a better use of my time than this.  Chris’s articles seem to be the best use on here.

  • Tue, Sep 20, 2011 - 01:39am

    #22

    Vanityfox451

    Status Gold Member (Offline)

    Joined: Dec 28 2008

    Posts: 373

    count placeholder

    ewilkerson

[quote=ewilkerson]

HMMMMMMMMMMMMM, I think TV is a better use of my time than this.  Chris’s articles seem to be the best use on here.

[/quote]

And isn’t it! Hopefully with Chris spending a tad more time on the forums over these next months, it’ll save you going square-eyed watching the tube …

Paul

  • Tue, Sep 20, 2011 - 02:18am

    #23
    ewilkerson

    ewilkerson

    Status Silver Member (Offline)

    Joined: Jul 18 2010

    Posts: 213

    count placeholder

    ..OK

..OK

  • Sat, Sep 24, 2011 - 09:21pm

    #24
    sundarb

    sundarb

    Status Bronze Member (Offline)

    Joined: Jan 10 2011

    Posts: 36

    count placeholder

    Rebuttal

Dmitry Orlov just published a rebuttal by Jean Laherrere on his blog.

http://cluborlov.blogspot.com/2011/09/peak-oil-laherrere-responds-to-yergin.html

 

 In 2005, Daniel Yergin published an editorial in the Washington Post in which he was already mocking the pessimists, and in which he predicted that by 2010 global oil production capacity could increase by 16 million barrels per day (Mb/d) from from 85 to 101 Mb/d. Since then, global production capacity remained on a plateau of about 86 Mb/d… You ought to go back and re-read yourself, Mr. Yergin. 

  • Sun, Sep 25, 2011 - 12:04am

    #25

    Johnny Oxygen

    Status Gold Member (Offline)

    Joined: Sep 09 2009

    Posts: 454

    count placeholder

     Great find sundarb.

 

Great find sundarb. Thanks.

Daniel Yergin: “Example [of revolutionary technology]: the ‘digital oil field’, which makes use of sensors distributed throughout the oil field, to improve the data and the communications between it and the technology centers of companies. If it came into widespread use, this technology can could help exploit an enormous quantity of additional oil everywhere across the world—according to one estimate, this represents 125 billion barrels of additional reserves, equal to the actual estimated reserves of Iraq. 

Jean Laherrère: It is at present quite fashionable to talk of the “digital oil field” to impress investors. But to this day I have not come across any mature field that has significantly increased its reserves by the use of this technology. To pretend to be able to grow reserves by 125 Mb [sic] thanks to this technology amounts to nothing more than wishful thinking, and does not stand up to any serious study. 

How does one increase the size of recoverable reserves of oil fields? Well, first of all, there are secondary recovery techniques: the use of water or gas injection to maintain field pressure. This is a practice that is in actual use from the very begginning on all new oil fields.

…Technology can do nothing to modify the geology of an oil reservoir! It just allows it to be produced faster, thereby accelerating the decline of mature fields… Here’s an example: the very pronounced production declines at the giant Mexican Cantarell field, which made use of massive nitrogen injections.

The rate of recovery of a feld depends above all on the properties of the field and the liquid it contains. This rate can be as high as 80% for sandstone or very porous limestone, and might not exceed 1% for a tight reservoir with isolated pockets.

  • Thu, Sep 29, 2011 - 06:19pm

    #26
    sundarb

    sundarb

    Status Bronze Member (Offline)

    Joined: Jan 10 2011

    Posts: 36

    count placeholder

    Another rebuttal

Here’s another rebuttal published by Gail Tverberg.

http://ourfiniteworld.com/2011/09/29/is-yergin-correct-about-oil-supply-an-opinion-the-wsj-did-not-run/ 

[quote]

 

The big issues with world oil supply now are (1) it is not clear that it can rise fast enough to meet the world’s needs and (2) the price is already so high that it is causing economic distress to oil importers. With the ‘easy oil’ already being exploited and oil exporting nations needing high revenues fund government programs, the cost of oil can only rise higher.

What happens if oil is in such short supply that it needs to be rationed by high price?  We know in agriculture what happens when a crop is short of a vital nutrient. Liebig’s Law of the Minimum says that crop output will be reduced, and in fact, will be proportional to the limiting nutrient. We know that a similar relationship holds with chemistry experiments. If a laboratory can afford only a small amount of a high-priced reagent, then the size of the “batch” that can be created will need to be scaled back by the limiting reagent.

Economists tell us that substitution can be expected if oil is in short supply. In the short term, though, how likely is this to actually happen? We have millions of cars and trucks in operation that use oil products and thousands of factories using oil products as inputs to manufacturing processes. Many years of research and huge investment will be required to create substitutes in adequate quantities. In the meantime, the expected reaction to limited oil supply (expressed as high-priced oil supply) would seem to be economic contraction. If the economy is thought of a system which depends on inputs of various types, this outcome would be analogous to what happens when crops have an inadequate amount of a particular type of nutrient.

[/quote]

 

 

  • Sun, Dec 23, 2012 - 05:22pm

    #27
    wroth5

    wroth5

    Status Member (Offline)

    Joined: Apr 16 2008

    Posts: 21

    count placeholder

    Peak oil is dead!! Wake up and smell the coffee!!

http://www.bloomberg.com/news/2012-12-19/american-oil-most-since-first-well-in-1859-signals-independence.html

Viewing 7 posts - 21 through 27 (of 27 total)

Login or Register to post comments