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New Technology has Destroyed the Myth of Peak Oil
Townhall.com ^ | October 6, 2014 | Thomas Miller

Posted on 10/06/2014 1:30:37 PM PDT by Kaslin

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1 posted on 10/06/2014 1:30:37 PM PDT by Kaslin
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To: Kaslin

Oil is God’s thermostat.


2 posted on 10/06/2014 1:34:33 PM PDT by EQAndyBuzz (Stop Global Cooling Now. Drill Baby Drill.)
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To: Kaslin

Technology has always been the way the oil industry advance.

from cable tool drilling to rotary tool drilling,

from topographic features prospecting to seismic,

from land only all the way to deep water,
and now from gushers to shale formations,

innovation finds a way.

We have produced far less than 10% of all known hydrocarbon accumulations.

The amount left is staggering.

God’s gift is virtually limitless.

Only malicious acts like promoting green energy will hold us back to enjoying the best lifestyle on this planet.


3 posted on 10/06/2014 1:39:33 PM PDT by bestintxas (Every time a RINO bites the dust a founding father gets his wings)
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To: Kaslin

BUMP


4 posted on 10/06/2014 1:42:00 PM PDT by kitkat (STORM HEAVEN WITH PRAYERS FOR OUR COUNTRY)
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Comment #5 Removed by Moderator

To: Kaslin

There was some kind of “prophets of doom” show on the History channel this weekend. I turned to it for a bit, and there was a guy talking about “Peak Oil” and how the most oil we ever produced in the US was in the 70’s and we would never produce that much ever again. I just laughed and laughed!


6 posted on 10/06/2014 1:43:32 PM PDT by vpintheak (Keep calm and Fire for Effect!)
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To: Kaslin

George Mitchell didn’t invent fracing as it has been around since the 1940’s. He was the first to frac the Barnett Shale. And ExxonMobil is building their headquarters across Spring Creek in Harris County in Hughes Landing, not in Montgomery County in The Woodlands.


7 posted on 10/06/2014 1:47:48 PM PDT by crusty old prospector
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To: vpintheak
Haven't you heard? fracking causes earthquakes ! And if we don't sacrifice a college republican to the volcano, Gaia won't be appeased!
8 posted on 10/06/2014 1:48:20 PM PDT by TurboZamboni (Those who make peaceful revolution impossible will make violent revolution inevitable.-JFK)
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To: crusty old prospector

Lots of bad info in there:

Since it became fully commercially viable around 2008, fracking...


9 posted on 10/06/2014 1:50:03 PM PDT by thackney (life is fragile, handle with prayer.)
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To: Kaslin

I guess ExxonMobil is building something in The Woodlands at Hughes Landing, which is not in Harris County. I was thinking about that big complex of theirs where the new loop comes through.


10 posted on 10/06/2014 1:52:04 PM PDT by crusty old prospector
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To: F15Eagle

There is always a limit on the amount of oil that we can extract from the earth...

with present technology,
at present prices...

Of course, those two conditions are not fixed.


11 posted on 10/06/2014 1:53:28 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Kaslin

Peak Oil, population bomb, global cooling, global warming, hole in ozone, blah blah blah blah. I vaguely remember a show narrated by Walter Cronkite in the 70s that claimed that insects would soon take over the world.

You would think that libs would get tired of always being wrong.......


12 posted on 10/06/2014 1:53:51 PM PDT by HerrBlucher (Praise to the Lord the Almighty the King of Creation)
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To: F15Eagle

13 posted on 10/06/2014 1:54:44 PM PDT by Fightin Whitey
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To: thackney

Yep, Uncle George’s first massive fracs were actually in the 1970’s in a Wilcox sand in Lavaca County and in the Cotton Valley Lime in Limestone County.


14 posted on 10/06/2014 1:55:08 PM PDT by crusty old prospector
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To: HerrBlucher

The real proofs libs are mentally ill: they don’t want to do anything serious about the real threats of Islamism and hemorrhagic fever.


15 posted on 10/06/2014 1:59:24 PM PDT by piytar (So....you are saying that Hilllary (and Obama) do not know what the meaning of the word "IS" IS?)
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To: Kaslin

The solar system condensed out of gas. The gas giants are full of hydrocarbons. No dinosaurs or plants there. Earth just has rock holding the oil.


16 posted on 10/06/2014 2:04:26 PM PDT by minnesota_bound
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To: Kaslin

If peak oil is a myth, why am I still paying almost $5 a gallon for gasoline and heating oil?


17 posted on 10/06/2014 2:10:33 PM PDT by Age of Reason
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To: Kaslin
It's important to understand that fracking is much more expensive than traditional drilling.

In 2013, the minimum break even point was about $60/barrel.

In Saudi Arabia, the break even point for a traditional well is under $10/barrel.

Why?

A fracked well has a very short productive life, often one year or less.

With traditional drilling, a well can often produce for 10 years, or even more.

Also, fracking is labor intensive for the entire well life.

In sharp contrast, for traditional drilling, most of the labor costs are up front and can be amortized across the entire life of the well.

18 posted on 10/06/2014 2:16:32 PM PDT by zeestephen
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To: TurboZamboni

LOL! I also remember having arguments with a guy I used to work with around 2000 who was deep into the peak oil myth. WW3 was coming, the USA was going to attack all these Countries and take their oil. He was convinced of it! Man would I like to find that guy again and say, “WHAT!?”


19 posted on 10/06/2014 2:22:14 PM PDT by vpintheak (Keep calm and Fire for Effect!)
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To: Age of Reason

“If peak oil is a myth, why am I still paying almost $5 a gallon for gasoline and heating oil?”

I just paid $2.979 yesterday for regular in San Antonio. Where are you, England?


20 posted on 10/06/2014 2:22:35 PM PDT by Ancesthntr ("The right to buy weapons is the right to be free." A. E. van Vogt)
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