Posted on 01/18/2008 12:33:51 AM PST by Stoat
Yeah, perhaps a State thing.
Article says production can be 100 million barrels a day by 2017. What is it now? 100 million?
Today I sent in the final payment on my SUV. It wasn’t stylish when it was new, but at least it isn’t going out of style and as much as I drive it will last 600 years.
I have no idea why.... we should use that to build more refineries, and drill for more oil on our own soil.
And by that measure it could be said that "Liberals" driving tiny, lawnmower-motor-powered cars are not using gasoline "liberally" either.
I would imagine that most Conservatives don't consider their SUV's to be a 'waste' of gas either, but an entirely valid use for it, in that it provides a means of 'conserving' their families by providing a safer environment for them than the tiny cars do.
Doesn’t matter. We have to stop sending $278 bill a year to Saudi Arabia.
Agreed.
We might be out in those fields, but check your math. 4.5% decline the first year, 96.5%. 4.5% the second year (of the 96.5%) is less, so the depletion curve has a tendency to flatten out.
Of course, this assumes no new discoveries will occur, and we are finding new reserves (maybe not as spectacular, but new reserves) all the time. As those come on line, their production replaces the production 'lost' to depletion in reservoirs which were developed earlier.
New technology, especially horizontal drilling, has opened up entire fields which were previously not considered possible to produce.
Carter. President Jimmy Carter - please pick up the courtesy phone.
LMAO
I'm guessing that Jimmuh is on another line...perhaps a conference call with Fidel, Hugo and Mahmoud.
FYI
World not running out of oil, say experts
The sooner the better.
imagine a world in which we don’t need muslim energy any longer.
btt
I live in a part of the US where oil wells are very common. I have never been able to understand why most oil wells will be pumping merrily away until there is talk of an energy shortage. For some reason, the pumps seem to quit running. When the price of gas increases the pumps start again.
You should look at the predicted trend lines from 10, 20, 30 and 40 years ago.
Imminent Peak oil claims are not new, but they are based upon existing technology and expected pricing. Nobody 10 years ago was predicting $100 dollar oil nor the associated investment in exploration and R&D that $100 oil brings.
Failure to adjust the cycle can result in 'coning in' a well, to the point where it will only produce salt water, leaving a great deal of oil unproduced and unavailable to the wellbore (it ruins the well), or less than optimal production.
Your moments of observation may have coincided with the recovery part of the cycle, the differences may be attributable to the pumper changing the duration of the cycle in order to optimize production from an older well.
The only instance I know when price caused a slowdown in the rate of production was in 98/99. Lift costs exceeded the price of oil ($4.50/bbl for sour, $6.50/bbl for sweet crude in this area), and the Canadians were slowing their pump jacks down so they did not lose money faster.
|
A spectacular, essential, and supremely worthwhile article; thank you so very much for posting the link to it and I hope that everyone will read it :-)
Sounds like a much better world to me!
I was working for a company that built gas stations in the early 1970’s. We had to change the pumps over because they wouldn’t register gas prices that were over $1.00. There were long lines at gas stations all over the country. The stations were running out of gas. We finished a station, called the distributer, and 24,000 gallons of gas was delivered in about 30 min.
I flew a little bit back then and noticed the floats were at the top of the crude oil storage tanks. They couldn’t be full of oil since there was an oil shortage. I guess they must have been full of air.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.