New Offshore Oil Fields Will Not Offset Oil Production Declines in the Gulf of Mexico – Biden Continues to Shut Down U.S. Oil Supplies

IER ^ | June 29, 2022 | By IER

[Hillarys Gate Cult]

The Energy Information Administration (EIA) forecasts that nine new fields will come online in the deep waters of the Gulf of Mexico this year, which will account for 5 percent of natural gas production and 14 percent of oil production in U.S. federal Gulf of Mexico waters by the end of 2023.

However, EIA expects that the additional capacity from these new fields will not sustain oil production at levels similar to the end of 2021 in offshore fields. According to EIA, declining production from existing Gulf of Mexico fields will largely offset the increases in oil production from the new fields, with natural gas production in the Gulf of Mexico continuing its three-year decline. During 2021, 15 percent of U.S. oil production and 2 percent of U.S. natural gas production was produced in the Gulf of Mexico.

[Hillarys Gate Cult]

Looks like an industry publication but it dovetails with what we already know.

[UnwashedPeasant]

More sanctions on U.S. oil.

[Red Badger]

A ‘Growing Number Of Scientists’ Indicate Earth’s Oil & Gas Supply Is Abiogenic, Unlimited…Renewable

By Kenneth Richard on 29. November 2018

“Peak Oil is dead. The era of hydrocarbon civilization will never end!”

— Prof. N.P. Zapivalov, Russian Geologist
“If substantiated, the study of abiotic petroleum origin theory could provide practically unlimited hydrocarbon fuels recharge from below the existing sedimentary petroleum basins in the Earth’s crusts from its mantle.”

— Dr. Magdi Ragheb, Nuclear Engineer
“[T]here is a growing number of scientists and researchers … suggesting that these compounds [‘coal, oil, and natural gas’] must be abiogenic in origin rather than biogenic.”

— Frank Oliver Konga (renewable energy advocate)

Zapivalov, 2018
Petroleum Geology: Science and Practice

in the 21st century. New Ideas and Paradigms

“Hydrocarbons are reported to occur in all strata of the Earth’s crust and are supposed to occur in the cosmic space, too.”
“Oil-and-gas accumulations are traced in all types of rocks and at all stratigraphic levels both onshore and offshore. In fact, we live in a hydrocarbon civilization. Our planet is actually a large overall petroleum polygon. New evidence and facts refuted the myth of “Peak Oil”. Oilfields can be discovered in most unexpected places and conditions. The oil recovery rates depend on various natural, technogenic, and market fluctuations including human factor.”
“A great variety of hydrocarbon sources, both conventional and unconventional, have been discovered and are still being discovered; innovative methods and technologies for hydrocarbon production and utilization are being created; on the whole it shows that Peak Oil is dead. The era of hydrocarbon civilization will never end!”

Ragheb, 2018

Biogenic and Abiogenic Petroleum

“Two schools of thought exist about the origin of petroleum: a Western school suggesting that its origin is biogenic resulting from the decay of organic biological matter and stored in sedimentary basins near the Earth’s surface, and a Ukrainian-Russian school proposing that it is abiogenic with an inorganic origin deep within the Earth’s crust dating back to the time of the formation of the Earth. The first suggestion implies a finite resource, whereas the second implies an almost unlimited one. Each school dismisses the other one, leading to interesting discussions and discourses.”
“An argument for the existence of abiogenic petroleum is that the deepest fossil ever found has been about 16,000 feet below sea level, yet petroleum can be extracted from wells drilled down to 30,000 feet and more. The argument is advanced that if a fossil was once living matter, it had to be on the surface. If it did turn into petroleum, at or near the surface, and since petroleum has a lower density than water it would be expected to rise on top of water not go under it. The counter-argument is that these deep deposits may have resulted from crustal movements or were buried by bolide impacts.”
“When the Earth was formed it should have contained substantial amounts of carbon and hydrocarbons. It is also possible that the heat from radioactive decay may be contributing to the creation of hydrocarbons in the Earth’s mantle.”
“The abiogenic petroleum formation hypothesis holds that as petroleum is drawn out of the known reservoirs through petroleum wells, the field pressure is slightly reduced, thereby allowing more deep petroleum to migrate up from the mantle and recharge the reservoir from below. This suggests that decreasing the existing reservoirs’ pressure should be attempted in view of recharging them, rather than increasing their pressure through water and gas injection.”
“If substantiated, the study of abiotic petroleum origin theory could provide practically unlimited hydrocarbon fuels recharge from below the existing sedimentary petroleum basins in the Earth’s crusts from its mantle.”

Konga, 2018
Which economic aspects would have thegreatest impact in the European Union forswitching from traditional to renewable energy?

“Consensus on the creation and origin of petroleum currently held by western science points to ancient microorganisms, plant matter and their subsequent burial over millions of years after which immense pressure and temperature caused by the material collecting on top of them resulted in transformation of solid, liquid and gas formations known as coal, oil and natural gas. This type of theory is referred to as biogenic or Western theory on the creation and origin of oil (Summers, 2015).
However, there is a growing number of scientists and researchers challenging such a theory, indicating that organic compounds are extremely common in space rock and atmospheres of other planets in our solar system (Bansal, 2015), suggesting that these compounds must be abiogenic in origin rather than biogenic.”

“Popularity of biogenic theory can be attributed to the 17th and 18th century scientific understanding of carbon-based compounds and importance of life in their creation (Summers, 2015). Additionally, different types of organic matter and residue was found in various depths and layers of rock formations deep underground, which combined with extreme pressure, temperature and other factors could have resulted in huge concentrated stores of oil, as extraction of oil from fossilised organic matter is proved true (Heinberg, 2018).”
“The opposing group of abiogenic theory supporters, also called Russian-Ukrainian group explain inorganic origin of oil because of chemical reactions of minerals rather than by decay of organic matter, further deducting that oil is a renewable resource found in immense quantities in presently unreachable depths (Ragheb, 2018). Hydrocarbons are a chemical compound consisting of a combination of hydrogen and carbon atoms, together in great quantities making up the composition of oil (EIA, 2017b).”
“Although it is widely supported fact that oil can be retrieved from fossilised organisms (Penner, 2018) and is conjointly backed by decades of data and technological development, some newer research has proven that part of the chemistry suggested by the abiogenic theory supporters to be surprisingly valid and worth investigating.”

Bardi, 2019
Peak oil, 20 years later:

Failed prediction or useful insight?

“Today, 20 years have passed since the publication of the ground-breaking Scientific American report [1]. The expected world peak has not arrived, at least in terms of a reduction of the global supply of liquid fuels [11] and, in general, the concept of peak oil has faded from the mainstream discussion as well as from the scientific literature. ASPO international seems to have disappeared as an active association around 2012–2013, although some national branches of the association still exist. The generally accepted explanation for the fading interest in the concept attributes it to the ‘wrong predictions’ of the date of the peak and, from there, most mainstream reports tend to define the whole concept as wrong and misleading.”
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[BobL]

“New Offshore Oil Fields Will Not Offset Oil Production Declines in the Gulf of Mexico”

More STICKING IT TO PUTIN!!!! I guess.

[PIF]

More oil and gas for the cartels that run Mexican oil companies.

[caww]

Exactly - should say Biden adding additional sanctions against USA citizens.

[butlerweave]

Liberal World Order

[Sirius Lee]

It’s all part of dopey joe’s MRRA agenda - Make Russia Rich Again

[bray]

Enjoy your $10+ per gallon.

[crusty old prospector]

That is all baloney. Only crackpots believe any of that.

[PGR88]

It’s all part of dopey joe’s MRRA agenda - Make Russia Rich Again

I would stop worrying about Russia. They just want out of the ideological woke/green New World Order

TPTB want our rage directed against Russia, while they collapse society and the economy right here at home.

[daniel1212]

Actually it was only partially cancelled and production continues:

The data shows that there were 4,082,478,000 barrels of crude oil produced in 2021, an amount that is greater than any time in American history, except 2020 and the peak in 2019. 

• 2017: 3,415,257,000 Barrels of Crude Oil
• 2018: 3,993,288,000 Barrels of Crude Oil
• 2019: 4,485,635,000 Barrels of Crude Oil
• 2020: 4,129,563,000 Barrels of Crude Oil
• 2021: 4,082,478,000 Barrels of Crude Oil (https://www.wusa9.com/article/news/verify/united-states-produces-more-oil-than-any-other-country-fact-check-russia-impact-on-gas-prices/65-7814c6e2-5437-4201-b021-face477e5462)

  Despite this drop from 2019's peak, the levels of production in 2021 were unmatched globally. 

"The United States is the number one oil producer in the world," Weiner said. "We produce more oil and gas than any other country in the world." 

This was confirmed by the Energy Information Administration. The EIA listed the U.S. as the top producer, with 18.61 million barrels per day, equivalent to 20% of the world supply. 

Credit: Energy Information Administration

There was a similar trend, when considering petroleum products as well. In 2021, the U.S. produced 6,052,509,000 barrels of crude oil and petroleum products, which was only surpassed in 2019. 

• 2017: 4,795,959,000 barrels of crude oil + petroleum products
• 2018: 5,588,101,000 barrels of crude oil + petroleum products  
• 2019: 6,246,598,000 barrels of crude oil + petroleum products 
• 2020: 6,023,457,000 barrels of crude oil + petroleum products  
• 2021: 6,052,509,000 barrels of crude oil + petroleum products 

(https://www.wusa9.com/article/news/verify/united-states-produces-more-oil-than-any-other-country-fact-check-russia-impact-on-gas-prices/65-7814c6e2-5437-4201-b021-face477e5462)

- https://tradingeconomics.com/united-states/oil-exports

HOWEVER:

US refining capacity falls to lowest mark in 8 years amid record prices.. The nation's capacity to refine crude oil into fuel and other products fell below 18 million b/d at the beginning of 2022 and hit its lowest level since 2014, according to the federal government's annual refinery capacity report released June 21.... The 2022 projection is the lowest since 17.92 million b/d in 2014, the EIA said. (https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/062122-us-refining-capacity-falls-to-lowest-mark-in-8-years-amid-record-prices-eia)

US Gulf Coast crude oil exports to touch record high this quarter...Exports to Europe are expected to average about 1.4 million (bpd) this quarter, about 30% higher than the year-ago quarter,Tight U.S. refining capacity also boosted exports, Rystad Energy analysts noted. The United States has lost nearly 1 million bpd of refining capacity since 2020..."The 1.53 million bpd of U.S. crude exports to Europe recorded in April is the second-highest reading on record," said Viktor Katona, co-head of crude analysis at Kpler. (https://www.reuters.com/business/energy/us-gulf-coast-crude-oil-exports-touch-record-high-this-quarter-2022-06-27/)

[Don Corleone]

Biden Continues to Shut Down U.S. Oil Supplies

IMHO Biden hasn't got a clue as to what he is doing.

[deport]

IMHO Biden hasn’t got a clue as to what he is doing.

********

Don’t disagree that he may be clueless but he sure has made a
life of recognition over his time. Many of us don’t get any
where near that success. But we are happy just the same.

[WMarshal]

It is not all baloney. I believe coal deposits are fossil fuel but I think that the bulk of the hydrocarbons in the earth are derive from inorganic sources and processes. Explain why Saturn’s moon Titan has methane rain and dunes most likely derived from organic soot like hydrocarbon polymers clumping together after raining onto the surface?

[crusty old prospector]

Explain why ALL petroleum deposits are found in sedimentary basins and not in igneous and metamorphic rocks.

[WMarshal]

Because igneous and metamorphic rocks have been baked hard and dry into crystals and are fairly impermeable. The ocean crust is constantly being forced under the continents and the mantle is baking off all the carbon in the ancient seafloor and that released carbon is baked up through the mantle into the crust and is settling in rocks that are porous, like sedimentary rocks. Think of the crust as a giant catalyst that transforms methane and carbon rising from the mantle into denser hydrocarbons. I’m not saying all hydrocarbons are from inorganic sources but I believe the bulk of them are - excepting coal of course.

[crusty old prospector]

Oil and gas come from source rocks deposited in the basins. There is a wealth of information on the subject. There is zero evidence for oil and gas coming from the mantle except the same crackpots that are cited each month on Free Republic.

[Amendment10]

Thank you for referencing that article Hillarys Gate Cult. Please note that the following critique is directed at the article and not at you.

Biden shuts down this. Biden shuts down that.

Patriots are reminded that Congress has the express constituitonal power to run the country by means of veto overrides if it wants to, the House uniquely having the power of the purse.

But the very corrupt, election year Congress is hiding behind Biden imo, letting Biden do all of Congress’s unpopular, uncontitutional dirty work for it, similarly to Congress letting second term Obama do all of Congress’s dirty work for it with unconstitutonal executive order edicts.

Insights welcome.

And speaking of election year, Trump’s red tsunami of patriot supporters are also reminded that they must vote twice this election year. Your first vote is to primary career RINO incumbents. Your second vote is to replace outgoing Democrats and RINOs with Trump-endorsed patriot candidates.

Again, insights welcome.

[DoughtyOne]

I grant you it’s very unscientific, but logically I ponder
the real impact of man on the planet’s eco system.

If I’m flying at 40,000 feet, and I look down and can’t
even see a large city, let alone a vehicle exhaust pipe,
how is that exhaust pipe going to kill the planet?

Further, humans take up the space on land, just 25-30%
of the planet’s surface. We have vast oceans with
little creatures that produce oxygen. We have tree
that contribute.

The trees and plant life live off carbon dioxide. If
we cut it, we cut what they need to be healthy. Is
that supposed to be healthy for the planet. If we
cut down the rain forest it’s bad, but if we kill
off what they need to survive, and they die, is that
a good thing?

I’ve read the carbon numbers, and we’re talking about
a very slow increase over a few decades. The current
levels are so anemic, that it’s just laughable that
people are fretting over it.

Have you noticed that the powers that be are now calling
weather alerts when the temperature doesn’t make it out
of the 80s? I heard one of these alerts a while back,
and it was surreal.

They are worried the mean temperature may rise 1-2 degrees
over the next century. Folks it raises 70 to 100 degrees
every summer. How much of our critical crops do we lose?

We have an ocean full of water and the tech to be able to
turn it into pure drinkable water.

We need power. We could build smaller nuclear reactor
plants along our coast lines, and include desalinization
along side. We have no shortage of tech, or abilities.
We have a shortage of people with more than a quarter
of their brain functioning.

Our overlords refuse to build power plants. They refuse to
desalinate water. They refuse to let us use oil, that was
put here for us to utilize.

We are being herded by a bunch of collegiate graduates
who have no common sense at all. They would rather see
half the world’s populace die off, than simply roll up
their sleeves and get to work.

Managed properly, this planet could handle five times the
populace it has today.

It is time to start unloading the toad-stools who make up
our government workers who just don’t grasp any of this.