US oil production increasing

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sevenmmm's picture
sevenmmm
Status: Silver Member (Offline)
Joined: Jan 19 2011
Posts: 108
US oil production increasing

 

I found a number of points interesting in the story below:

1. The chineses are buying in.

2. There is not enough pipeline space to accomodate the new oil.

3. There are not enough women!

4. There are environmental problems with the new techniques.

5. Americans are expected to use less gasoline.

 

Points not mentioned:

1. No mention of the earthquakes. 

2. No mention of how long the peak oil production will be sustained.

3. No mention of the drastic declines from current sources.

 

http://news.yahoo.com/s/ap/20110209/ap_on_re_us/us_shale_oil

r101958's picture
r101958
Status: Martenson Brigade Member (Offline)
Joined: Aug 24 2008
Posts: 257
Re: US oil production increasing

The shale has been fairly common knowledge for quite some time. One data item that is missing from the article is the EROEI of producing oil from the shale deposits (quite low).

ewilkerson's picture
ewilkerson
Status: Gold Member (Offline)
Joined: Jul 18 2010
Posts: 390
Re: US oil production increasing

You are right about the decline rates being so high.  I've followed the Bakken for several years now.  The numbers in this article do not seem to add up, though.  Cutting half our imports would be about 7 m b/d.  That is a heck of a lot of holes producing when decline rates are so high.  The first couple months these wells produce up to about 2000 b/d and then drop to at least half.  I think we can get some good oil with it along with the natural gas liquids from gas wells.  But I think people are being a little optimistic.

These numbers would probably do nothing to delay Peak Oil when the world has decline rates of 4-5m b/d/yr.

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