Posted on 07/20/2014 1:42:44 PM PDT by ckilmer
But...the Earth Firsters and AGW kooks will nix this idea. They want TOTAL SHUTDOWN of all modern technology and conveniences, then mass exterminations to bring the world’s population down to around 250,000,000.
And they’ll start with US.
Do you guys buy the central contention of this article. See below.
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A positive forward was taken when NRG Energy (NYSE: NRG ) announced earlier this week that it began construction on a billion dollar retrofit to its East Texas coal-fired power plant. While the project is being underwritten in part by $167 million from the Department of Energy, NRG Energy sees it being self-liquidating as the carbon dioxide that is captured will be used to yield a 30-fold increase in oil production from an aging oil field NRG Energy also co-owns.
NRG Energy expects this process will improve the production at its West Ranch oilfield from a meager 500 barrels of oil per day to 15,000 barrels of oil per day at its peak. Put another way, at current oil prices that field will go from producing about $18.2 million worth of oil each year to well over half a billion dollars of black gold per year.
Is this the first time a large scale version of this process has been tried?
Yea carbon credits.
The foreign invasion that Ubama conspired with foreign leaders and drug cartels to engineer may that all by itself.
“But thanks to technological advances in carbon capture and storage we’re beginning to see new investments that are directed to cleaning coal and using the captured carbon to produce more oil.”
I would strongly caution anyone in this business that “carbon capture” is the pure invention of progressive government seeking ecological Utopia. As such, it grossly distorts the market price of the things its touches. If you are in this business, you are not serving your creditors or shareholders well unless and until you have a contingent plan for when (not if) the case for carbon capture collapses and the price of CO2 returns to a more truthful value.
is this….sorta plausible…? :/
I have a better idea:
Remove all liberal democrats from all positions of power.
Since Obama lies about everything....he also lies about Global Warming...
So when the nest mini ice age kicks in around 2020 expect a lot of deceased humans.
The Sun's magnetic field is declining....so less sunspots.
Expected no new sunspots by about 2020....last time this happened there was a mini ice age that lasted 400 years, 1350 to 1750.
Matt DiLallo is a Moron of the First Order and a lackey to hedge fund short selling jerks. He does no primary research, and is a complete propagandist paladin mercenary— in this case, funded by the global warming bullshitters.
<Put another way, at current oil prices that field will go from producing about $18.2 million worth of oil each year to well over half a billion dollars of black gold per year.
If the above return is expected, then why was a $167 million grant from DOE necessary in the first place?
Something smells...
CO2 is a highly dangerous and toxic chemical, isn’t it? I mean, its production will cause the end of the world, as I am told.
So oil can absorb a lot of gasses like propane and natural gas. If they pump enough CO2 into the well they can extract more oil than is really there. A large proportion of the crude oil will be CO2 dissolved in the oil.
You might be thinking about that other prevalent toxic substance, Dihydrogen Monoxide… If we’re not vigilant and don’t cede more authority to the Gov’t, this dangerous pollutant could cover as much of three-fourths of the Earth’s surface!
Matt DiLallo is a Moron of the First Order and a lackey to hedge fund short selling jerks. He does no primary research, and is a complete propagandist paladin mercenary— in this case, funded by the global warming bullshitters.
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I’m not doubting a single word you say. The problem is that everything you say and the central contention of the article could be true at the same time. This is the central contention.
“carbon dioxide that is captured will be used to yield a 30-fold increase in oil production”
I just don’t know if its true. Its not clear that you do either. Nor do I know what the true costs of carbon capture are for oil extraction. I’ve pinged a couple of experts on the subject. So we may hear something a little more definitive later on.
is this….sorta plausible…? :/
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beats me. that’s why I pinged the other guys.
What a normal person thinks is that if the numbers pencil out then great. if not then not.
Co2 is used for carbonating soft drinks and other beverages! This lethal gas is used to make Pepsi and Coke to sparkle!
As stated in the article, we’ve been doing CO2 injection for many decades for enhanced oil recovery. But it will not be the same economics for every field in every location.
So the process is proven, but applying the same recovery rates to every field n the nation is overly optimistic.
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