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Lengthy Peak Oil debate in 3...2...1.....
Those fools in Egypt must not be digging deep enough. Right, Ivan?
Now that the oil is running out, they want to put us on LPG.
They'll do anything to postpone the HHO / MEG coming to mainstream... :)
Probiotics! All our oil comes from Jamie Lee Curtis's bowels...
Makes as much sense to me as cooling mantel material disgorging sweet crude like Moses had struck a rock.
...23 countries comprise the Arab League, but only Saudi Arabia, Iraq, Kuwait, the United Arab Emirates (UAE), and Iran are major oil producers...
Iran is not in the Arab League, AFAIK
[sorry to jump the line]
Lengthy debate without a swing producer?
oil can't peak...that's just a myth. The declines were caused by Saudi environuts
Too funny, I was just thinking what to say! lol
Let the peak oil flamefest begin!
wtf is a flamefest? your life at home?
"flaming" someone is an archaic term, pre-Internet, from back in the dial-up bulletin board days...
ASCII color bitchez
Jesus, it's not THAT old.
God makes oil.
We've already discussed peak oil, perhaps instead "Peak God"???
We've been seeing less and less of him since the time of Christ except for that one sighting in Utah couple hundred years ago!!!
Seems his powers of omnipotence are on the wane??? Looking for a big turnaround and crescendo in 2012? Is the ticker GOD a buy or sell?
O ye, of little faith.
Is that a "buy" then?
That was actually Palmyra, New York hambone! Joseph Smith was killed before the Mormons even made it to Utah. Just saying . . .
So is that a buy GOD, buy NY, sell Utah, and strong sell of Hambone?
I'm neutral on CbClarkson...just saying
but...but...oil is God, T-Bone told me so!
So you're saying Saudi Arabia is God's septic tank?
no baby, you are
I lol at the random, extremely weak insults.
Gold will get CRUSHED. I just don't know when. Next millennium, maybe?
Brilliant analysis. Oh you meant literally right?
Pretty long article for saying basically nothing at all.
Whew! Thought it was just me!
Picture Obama, right profile, chin and nose up in the air, with a goatee and 'Rules for Radicals' tucked under his right arm, and white skin......Lenin....
He sure as CIT posed that way often enough last nite.
I'll rephrase it for you:
We, my partners and I, want to make money. We think the best way to do that is to get you to send us money to pursue . . . whatever. That's not really important. Just send us the money and we'll make . . . us rich. Thank you for your attention.
Why does this bullshit see the light of day? At all?
Dinosaurs make oil. It's Abiotic my pimps.
uurrppp. There goes two barrels.....
Next up for Algore - no beer for you. Him is ok, cuz he's 'special'.
I think it's a good article. It's a good survey of likely geopolitics in the region. I also think the author is right: there will be a "boom" in unconventional oil exploration the Middle East. So for a while it will look positive, but this time the boom will not be as big as the last one. The companies involved will be doing well, but one or two will be having trouble and will gradually go broke and get bought up. But still the majority won't clue in.
In the mean time, people will be digging in Yemen and Kurdistan, both of which are dangerous places. A few incidents, and they'll either send in troops, or maybe use mercenaries for security. And that will just deepen the quagmire.
I am guessing Martin did not read Twilight In The Desert, The Coming Saudi Oil Shock and The World Economy by the dead Matt Simmons? There will always be oil, just less, less quality, more difficult to produce and process and more expensive. Peak oil, peak credit, peak economic productivity. What I do not undrstand about the Global Warmers is that with peak oil you do not need carbon cap and trade, we have likely already reached peak oil consumption and therefore peak carbon emissions.
Peak everything bitchez.
Coming soon - peak lead delivery.
There are a number of companies working on technology to economically harvest the unconventionals - the deep, thick cold tars and other "heavy oils" and bitumens. Once they figure out how to get that out, the game changes. considering that unconventionals are 10x the size of conventional oil reserves, there's huge potential supply on the horizon - the lion's share in Canada, the USA, and Venezuela. here are just a few companies working on this problem. i suspect they're much closer to overcoming technology barriers than the futures markets believe is possible. with the right technology, peak oil is bs.
Eroei, its a bitch, bitchez...
sigh..production RATE motherfuckerz
"Once they figure out how to get that out, the game changes"
yeah I feel the same way about cold fusion. Peak oil is as much bs as math
Not true. They can do most of that stuff with shale oil, coal diesel, tar sands, etc. but the cost is about $30 a barrel. Regular oil probably sill avgs about $10 to get out of the ground. The US in the past 5 years has become the largest nat gas producer and there is probably 200 years supply at the minimum. There are also nuke reactors that will run on other fuel that is cheaper and mire plentiful than uranium.
As far as oil - more is being made each day by the earth's core.
What's it being made from?
There are also nuke reactors that will run on other fuel that is cheaper and mire plentiful than uranium.
Seriously, thorium is far, far more abundant than uranium, costs less to mine, is more effiecient as a fuel, has less duration (tens of years vs. thousands for uranium) for the half-life of its radioactive by-products, CANNOT be refined in any way into nuclear weapons, and is cheaper and less environmentally damaging to mine than uranium. The US has thousands of years worth of thorium, vs. needing to import uranium. Apparently, the reason why we use uranium to power our reactors instead of thorium is precisely because only uranium produces bomb-grade U-235 and Plutonium as by-products, and we needed them to face the Soviets. If we were (are) interested in a safer, cheaper and longer-lasting source of electrical power, thorium is the only answer. By the way, the thorium in coal has more energy than the coal itself. Why we burn coal to make electricity and don't use thorium is beyond me (except when considering that the coal lobby has a LOT more pull than the almost non-existent thorium lobby).
Once they're done with that, we need to get these smart guys working on abiotic microbes or something that can break up and unclog the nearly debt blocked economic arteries.
Oh, and then they should finally get the recipe right on the alchemy thing...if the Fed can "print" gold, now that's a game changer!!!
Sasol Ltd. = Coal diesel. Also nat gas to liquid.
Oil Sands = Net Energy LoserIt takes more energy to mine tar sands out of the ground and process it into usable fuel than the energy you get from the processed tar sands... Ask the Canadians...
Post Rating: 0.
Tyler: Scratch Katusa from the stable of Johnny Carson Monday night replacement hosts...
no, tarsands aren't negative EROI. They are 6-10:1
What the tarsands are good for illustrating is the disparate production rates from different reserves quality. Tarsands in Canada are 250GBbl or more. Yet production from this gigantic reserve is far lower than an equivalent surface field. All of Canada's tarsands may peak out at 4-5Mbpd. Ghawar is one field that produces more than that, and it's roughly 1/3 the size of the tarsands reserves. THAT is a concrete example of EROI and its impact on real production rates.
good post. tarsand EROI is one thing, ER on water invested is another. Some production methods take up to 7 units to one oil. We do not have enough fresh water nor can we continue to contaminate this amount of fresh water to come anywhere close to meeting energy needs
yeah, but if BP can catch half of Canada on fire in the process and make a shitload cleaning it up...
What this guy is talking is on unconventional Oil.
For the crowd over here, unconventional oil needs a lot of energy input in order to be extracted. For example the Canadian Oil Tar Sands needs tons of Natural Gas and fresh water in order to be converted into an API gravity levels that can be cracked into gasoline, diesel, etc, etc. In addition if we compare with the Venezuelan Orinoco Oil, it comes with tones of sulphur that need to be separated from this heavy crude. It is not hard to say that this process is "energy Intensive" , therefore you need to burn a lot of natural gas in order to get the stuff.
For everybody that thinks that oil prices are high due to especulation, go and do your research, learn what it is the Net Energy Gain.
Net Energy Gain (NEG) is a concept used in energy economics that refers to the difference between the energy expended to harvest an energy source and the amount of energy gained from that harvest. The net energy gain, which can be expressed in joules, differs from the net financial gain that may result from the energy harvesting process, in that various sources of energy (e.g. natural gas, coal, etc.) can be priced differently for the same amount of energy.
Conclusion: In order to get unconventional oil you need to invest a lot of energy, this energy is translated in economics in $$$, therefore we can still have oil running for years, however the price that we have to pay to get the sweet stuff that makes our world run is going to be the same triple digits prices that creates economic recessions. this is a "catch 22" issue.
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