Posted on 01/31/2023 10:27:19 AM PST by Oldeconomybuyer
At the rate we’re going - probably never
“Peak Oil has a very specific and mathematical definition ...”
Your comments never get around to saying “we will run out”. I suppose that’s the mathematically final outcome.
But that final outcome is irrelevant. As long as oil is a cheaper source of energy for a lot of applications, it will be desired and made available unless governments prevent that.
As the true price of oil-based energy rises above alternatives, those alternatives will see increased use.
When that happens, which will occur over a long time period, people will peacefully adapt. We now use more energy than is necessary for a good life. So no worries.
1992.
You can refrack. It’s usually done well post Peak for a shale well and it will adjust/shallow out the decline curve. You could theoretically re-frack on the way up, and that will elevate the top some. It’s not creating more oil in the volume sought. It is just getting more oil from that volume that might not have flowed otherwise. Not really a peak rebuttal, but a solid question.
In this same context, one never runs out of oil. One runs short of oil. There will always been oil in those pores in the rock that got trapped out of available fractures or natural cracks and did not flow. So . . . you don’t run out. You run short.
I thought peak oil happened 30 years ago.
How soon they forget their own propaganda!
In the year 2525...
5.56mm
Good explanation. So, many people confuse terms then.
The engineering faculty was notably more conservative than the rest of the campus, so I think this assignment was one quiet way of showing us what idiots the environmental doomsayers were.
Never will. As long as politicians keep out of this, the supply side of oil will never dry up.
So true.
We can only say how things are, discovery after discovery upon discovery - a slow and tedious process if we compare to the vastness of the universe...
The discovery process being most probably endless.... this means that attaining the “absolute truth” one day... would probably mean the end of the universe - since the “necessity for discovery” at that point would become unnecessary.
Indeed, if we know the true absolute truth, no effort is needed for discovery anymore. Thus, its imperfection that makes life go forward.
We can aim at perfection and truth, but it remains unattainable.
If the universe attain perfection.... somehow... that universe would simply cease to exist. it would have accomplished its mission.
Inflation Reduction Act-—Bawahhahahahahahahaha!!
What a joke!
There is 2 trillion barrels of oil in the uinta basin alone.
We just need to find a cheaper way to extract it.
Our coal can be “ gasified”...we have many many many years of coal resources
I’m 64 and for all of those years that I can recall we’ve been at or approaching peak oil.
So, yeah, never.
More or less.
If you tell people “peak conventional oil” arrived in about 2008, they will go crazy about how they just filled up their car and what the hell are you talking about.
Peak is no zero. Peak is the opposite of zero.
Another tidbit. Shale oil was not a miracle and not spectacular US technological superiority. That oil was known to be in North Dakota for decades. And the fracking process was known for decades.
What didn’t exist for decades was 0% interest rates. You can do all sorts of things if the loan costs you nothing, and if, btw, there is intervention to prevent lenders from foreclosing if someone manages to go bankrupt even with 0% money. So shale oil flows even at a loss.
A subtle item. Shale oil would not be called “oil” 40 years ago. It is not diesel rich. It’s viscosity is much thinner than conventional oil. It would have been called condensate 40 yrs ago and some tabulators would not have counted it.
Depending on how fast the well replenishes from the Earth's mantle, it is a good investment.
https://www.investors.com/politics/commentary/we-are-not-running-out-of-oil-earth-produces-crude/
Just about the exact same time as the world reaches Peak Stupid.
peak oil, you mean when will we quit FINDING NEW PLAYS?
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