RE: Educated Opinions on Climate Change . . . . Peak Oil
RE: Educated Opinions on Climate Change . . . . Peak Oil
(OP)
Not to derail the original thread from its focus of discussion on AGW, but the argument is often made that we are running out of fossil fuels.
Disclaimer (flashing lights and sirens) I am no geo or petro expert, not even a novice, not even by the furthest stretch of the imagination. With that in mind, let me bring up the subject of peak oil as it relates to some supposed successes the Soviets had with ultr deep wells and rejuvenation of wells which had apparantly suffered flow reduction to the point where, conventionally, they would have been abandoned and removed from service.
Interesting stuff, and I would very much like to hear back from folks who are genuinely knowledgeable in the field. Total bunk, something to it, or have we all been handed the deluxe bill of goods from big oil and our collective western governments?
Disclaimer (flashing lights and sirens) I am no geo or petro expert, not even a novice, not even by the furthest stretch of the imagination. With that in mind, let me bring up the subject of peak oil as it relates to some supposed successes the Soviets had with ultr deep wells and rejuvenation of wells which had apparantly suffered flow reduction to the point where, conventionally, they would have been abandoned and removed from service.
Interesting stuff, and I would very much like to hear back from folks who are genuinely knowledgeable in the field. Total bunk, something to it, or have we all been handed the deluxe bill of goods from big oil and our collective western governments?
It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all.





RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
This point has not been missed on companies who are gearing up to use compressed natural gas in some trucking fleets.
The other concern is that much of the fleet of power plants will switch to natural gas, and become more volitle in energy prices to consumers.
I recomment reading if you can.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
HAZOP at www.curryhydrocarbons.ca
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
The point that scares me about this is what happens if we tap into an extremely difficult (impossible) to control reservoir of it?
I also believe that the carbon credit issue has arisen because of the knowledge, in some circles, that oil is not really the scarce resource, but oxygen and the capacity of the atmosphere to absorb the products of combustion.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
The above should indicate that the price of oil drives the recovery. If it cost me $25 USD to get a barrel of oil to the surface, then in a $20 USD/bbl market I'm not going to bother, but at $100 USD/bbl I'm kind of excited to increase the number of barrels I get to market and will spend a bit of money.
The old Soviet Union mostly didn't bother. They had several monster fields that they were just skimming the very top of the cream off of. This satisfied their demand and refining capacity so why spend an extra Ruble? A friend of mine spent several years in Baku while it was still Soviet and his estimate was that they would get less than 15% of the original oil in place in that field. Today, there are good pipelines to deep water ports and the old Soviet fields have access to world oil prices. Spending money on the old monster fields (some have been producing for over 100 years to recover less than 10% of the oil that is there) makes all kinds of economic sense. Hence the rejuvenation successes that are being reported today.
Many plants (and vehicles) that have switched to CNG have experienced huge losses of available power. Not all. What people try to do is take the old petrol (or fuel oil) lines and try to shove natural gas at very low pressures into them. The reason for the low pressure is that air supply pressure is low--maybe naturally aspirated or at most a 1.5 compression ratio blower. If I can get my air pressure up to around 4 bar(a) (call it 43 psig at sea level) and supply the methane at that pressure, I generally don't see any reduction in output capacity, but I do have to pay the fuel price of the air compressor.
The first article I saw on Peak Oil was in 1981, and the authors saw $1,000 USD/bbl oil by the year 2000 because peak oil was 2 years out. There have been hundreds of meaningless predictions since. We ain't hit "peak oil" yet, and I don't see it on the horizon. Peak oil assumes declining supplies with increasing demands. Macro economics theory would say that you can only balance that equation through rationing (by increasing prices). At oil price hovering around $100 USD/bbl, people are finding amazing new ways to increase the recovery from old fields (many people said the Permian Basin in West Texas would be totally abandoned by 1990, I was through there last month and saw dozens of drilling rigs and thousands of pump jacks going up and down).
If the politicians can get out of our way, Shale Gas and bio-gas have the ability to turn the U.S. back into a net exporter of energy. That assumes that we get serious about developing gas-to-liquids technology to covert methane into a room-temperature liquid fuel. Existing technologies works, but they have some serious hair on them. Generating methane from organic wastes (or even from crops) is well-understood technology that works really well. I think that the only hurdles to increasing this technology is the price of natural gas and the farm lobby that is so focused on ethanol.
David
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
With natural gas you may use a compressor, but much of the coal handeling equipment, or attomizing air won't be required. So the over all drag of overhead should come out some what simular.
However, there is a concern from NERC, about the freezing up of natural gas wells in the colder Winter, reducing the short term deliverability.
I myself am concerned about the price volitility of gas or oil, verses coal (which is usually purchased on long term contracts).
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
HAZOP at www.curryhydrocarbons.ca
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
My son is a pumper on a group of gas wells and yesterday he had 30 compressors down due to fuel gas issues. When natural gas prices were in the $10 USD/MCF range, that number would have been 0-2 because there was money to put on extra staff to do restarts and money to upgrade equipment where there was problems. At less than $4 USD/MCF, staff is down and equipment has to be seriously broken to get repaired/replaced.
A wholesale power plant shift to natural gas would put upward pressure on prices; which would encourage long-term contracts (which used to be the norm, but during periods of decreasing prices has fallen out of favor) and improve overall supply reliability. With current demand I haven't seen very many end-users that couldn't be serviced from line pack during supply outages.
A shift to natural-gas derivatives as a motor fuel would accelerate supply-development.
David
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
However, many new combined cycle natural gas plants are more efficent than coal/steam plants, so a reduction of total BTU would be seen.
Is the line pack equivlent to 100 tons of coal an hour?
However, this is all subjective to if it is forseen that nat. gas will be lower in price in a longer term than coal.
In a shorter term nat. gas can compete with intermediat and peaker plants.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Still seems a bit of a waste to use NG large scale for stationary power generation when it could be used for transportation, (no I don't necessarily mean after factory conversion kits for cars) reducing demand Oil for that application when it has so many others where NG isn't such a good stand in.
What is Engineering anyway: FAQ1088-1484: In layman terms, what is "engineering"?
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
I've seen similar regulations proposed in other states, but so far those states have dodged the bullet. When the greenies get their way, all power will come from wishful thinking. They've hated nuclear for a generation. They hate hydro because it changes the landscape. They hate large scale wind farms because they are dangerous to migrating birds. They don't like large-scale solar because it blocks the ground from sunlight. If you legislate fossil fuels out of existance, all that is left is wishful thinking.
Right now natural gas is really cheep. It makes more sense to supply natural gas to stationary sources than as a motor fuel right now. With improved gas-to-liquids technology, that should turn around, but for now it is a much better fuel for power plants than for trucks. Not as good as coal in a cost/BTU, but way better than fuel oil.
David
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
And I say we need to make those changes not because of carbon, but because the congestion of so many freeways is a tax on our time, just the same as building roads is a tax on our wallet.
I can't say trains or buses are the answer, because neither deliver us door step to door step, and both cost more than other alternitives (cars and planes).
The problem looks like there isen't enough automation in many of the alternitives. Many cities don't have the density required for what they pay drivers to make buses or trains pay for themselves.
What does this have to do with peak oil... In two days, driving to and from work, I have consumed about a gallon of fuel (at 22 MPG). Or about $3. So to get me from my small truck to another form of transportation you need to beat the about cost of $3, or take less than 15 minuites to deliver me to work.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
What is Engineering anyway: FAQ1088-1484: In layman terms, what is "engineering"?
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Fuel: $2784.09
Insurance and registration: $1622.45
Maintenance: $650.45
That got me to and from work, plus home for lunch every work day (I live 5.7km from work), plus long distance trips totaling 1900km, 1669km, 1650km, and 1280km. Total distance traveled in 2011 was ~25,000km. Where I live, in-city public transit would cost $94/month for a pass. Assuming that the only transit costs would be me (and not my wife or child), transit would cost $1128/year. One-way transit for commuting would take 50 minutes (driving takes 10 minutes). Ignoring that I go home for lunch, transit would add 1:20 to my commute. Every day. If I valued my time at $60/hr (a discount from what work actually pays me...), over the course of a year, transit would cost me ~$18,320 in my time. So, adding in the actual cost of the pass, the annual cost of transit for me is in the $20k range - and this does not include the costs for the long-distance travel...
Given that insurance and maintenance are less variable than fuel, my fuel costs would need to be a factor of 10 higher than what they are right now for it to be attractive to me.
Sorry, but you will be pulling my car keys from my cold dead hands before I consider public transit.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Now I'm not particularly interested in pulling anyones keys, you misunderstand my point.
Cars, especially in many parts of the US, are incredibly convenient. I used public transport some back in the UK but most of the time car was more convenient except for trips to central London.
So I'm not some anti car greeny.
What is Engineering anyway: FAQ1088-1484: In layman terms, what is "engineering"?
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
On the other hand people in Houston tell me that the only reason to get on public transportation is to buy drugs. Schedule sucks, price is too high, and the buses are neither clean nor safe. Again, a no-brainer, but in the other direction.
I think that everyone should run the economics that were mentioned above and see if their situation makes more sense to drive or ride. If the economics favor one over the other, then that is actually the Green decision. Environmentalism should be based on actual harm to the environment, not on appearances (a Prius on the interstate has worse fuel economy than most SUV). Money is an excellent surrogate for consumption.
David
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Now if I commuted to downtown in my city, the calculus would change substantially. The time factor would be a wash. There would be added costs for parking.
I don't begrudge those who choose transit. As David said, I think that every person really does make the individual calculation themselves. We do choose the cheapest and greenest options available. That said, I don't want to pay for their transit (with my tax dollars)... Oh right, how much of my federal, provincial, and municipal tax go to subsidize transit? That should be included in the cost of transit, too...
Speaking of subsidies and to bring this topic back around to the discussion of peak oil, I read an article yesterday which said that if consumption in Saudi Arabia maintains its current growth pattern, then Saudi Arabia would become a net importer of oil by the late 2030's. Right now in Saudi Arabia, gasoline is $0.12/liter, heavily subsidized by the government.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
I have great respect for your contributions to this site,
but "Prius on the interstate has worse fuel economy than most SUV"
Seems way off base. The EPA rating for the Prius is 51mpg/48mpg highway. While inflated, and surely even worse under conditions you're suggesting. Even the most detrimental conditions to a hybrid using braking power recovery systems. An incline, at 80mph, at constant speed, claiming that the mpg is less than 30% of sticker (a fair average SUV mpg on similar conditions would be 15mpg?) is a stretch and I would want to see where the data came from.
On the rest of your point I would have to agree people are led by their wallets more often than not.
Comprehension is not understanding. Understanding is not wisdom. And it is wisdom that gives us the ability to apply what we know, to our real world situations
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
The bus would require me to walk about a half mile to the stop, and about half mile from where I get off to work, so a two mile walk each day, plus the time.
However, since I can't move large items from the store to my house on public transportation, I need to have a small truck anyway, so I would pay insurance, and oil even if I did not drive it to work, so it really works out to $4.2 to drive it to work. And because I don't put excessive miles on it my repairs would cost more if I did not drive it.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Top Gear did a story a couple of years ago where they took a road trip in a Land Rover LR3 and a Prius. They found that in general at highway speeds the Prius was running at significantly higher rpm than the LR3 (V8), and at the end of the trip the fuel consumption was about 20 mpg for the LR3 and 19 mpg for the Prius. Not in any way scientific, but quite an interesting anecdote. There was a Yahoo! news story last week about a woman suing Toyota for her Prius gas mileage not meeting published expectations. Personally, I've never been in or bought fuel for a Prius (I have two full-size Land Rover LR4's the get 20-24 mpg on the highway), and probably never will. If I had a job that required significant start/stop in city traffic I might reconsider that. I don't.
TGS4,
If you assume that federal, state, and community "public" money is going to be spent on public transit regardless of economics or community preferences then you really can't factor that subsidy into your personal calculations--you are going to contribute taxes to it regardless of your preferences. I think of it as similar to school costs, I don't have any kids in school anymore and still pay taxes to support the schools.
The last year I lived in Denver (1997) the city made a big deal that their RTD was self sufficient, paying off their capital bonds, and returning money to the general fund. I know that is the exception, but it is a heck of a good example that a public transit system that is responsive to community needs can make economic sense.
David
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Regards,
Mike
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
SnMan, If I were to sell my small truck, I might get $1500. It would cost more for me to replace it than I would get to sell it. It gets good millage, and still runs. And even if it did not run, it probally would cost less to fix it than to buy another.
About the only reason I would sell it is if one of these lead footed @#$%^ were to hit it.
The problem is the newer cars are so much more expencive because they have all this complicated stuff that we really don't need.
Air bags? If you are wearing seat belts, what does the airbag do for you?
Electric heated seats? On-star? Power stearing?
If you want to make car more fuel efficent, then get rid of all this extra stuff that wastes energy.
And I mean with reason. Anti-lock breaks do save lives.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
From where I stand, the NPV of the FV of my current car when I am done with it is essentially zero.
zdas04 - you're right. But we actually have the "power" to prevent ludicrous spending of public dollars on transit. I have no issues if spending approaches what you describe happened in Denver. Unfortunately, that's a 3-sigma outlier.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Plus, you can't get small trucks that are SMALL anymore.
Regards,
Mike
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
A return train ticket from my home to Plymouth is more than £100 these days. It costs £70 to fill my car with diesel. That will do the return trip, carry all my luggage and avoid the cost of taxis to/from the stations. If I have a passenger, they go for free.
Plus sticking a few hundred miles on the car makes it go better - fully charged battery, empty DPF, dried out exhaust.
I use the train when travelling into Londinium, partly because of the cost (congestion charge, parking), partly because it's easier and partly because I'll no doubt be on the sauce.
- Steve
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
I OWN a Prius, have over 125,000 km of mixed city/highway on it. My average year-round fuel consumption on the thing is about 5.2 L/100km which is about 45 miles per US gallon. The car has NEVER gotten anything close to as bad as 20 mpg, even when I was dragging a parachute in the shape of four bicycles on a rack at 130 km/hr!
I drive this car no differently than I drove my tiny Civic hatchback and the best I did with that thing was ~ 7 L/100 km year-round average. With my commute, that's made a big difference in my fuel bills. My foot hasn't gotten any lighter, although I do anticipate my stops a bit more than I did with the Civic. The Prius has A/C and the CVT, whereas the Civic had a 5 speed and no A/C. It's a much larger and MUCH more comfortable car.
5.2 is worse than the EPA mileage stated for the vehicle which is 4.0/4.2 city/highway, but not by much, and that's true for any car. Based on contact with many Prius owners, my mileage is typical unless you take lots of very short trips. 45 mpg is WAY better than any SUV, much less a freaking Land Rover!
For pure highway driving, you can do modestly better than the Prius with a turbodiesel, but the emissions- the ones we BOTH agree are harmful, not the CO2- are far worse with the turbodiesel, and in North America your turbodiesel choices are few. The Prius is a super-low emissions vehicle which also happens to have excellent fuel efficiency.
The battery in the Prius has 20 kg of nickel in it. That doesn't make much of a difference to the embodied energy of the vehicle. And embodied energy doesn't make much of a difference to the overall energy consumption of a vehicle anyway, unless you pack it in after 100,000km or less.
We agree about the benefits of all this shale gas, and the potential to use this for transport fuel. We disagree about whether or not gas to liquids technology has much room for improvement. Currently you end up with less than 1/4 of the feed carbon in the (useful) products- that's terribly energy inefficient relative to upgrading bitumen etc. regardless how cheap your gas is.
Improving reservoir recoveries is an obvious consequence of increased prices. But that will only take you so far.
As to peak oil: we'll run out of planetary carrying capacity for the effluent long, long before we run out of gas, oil, heavy oil, bitumen, kerogen, coal, methane hydrates and the like. But these resources are finite, or renewable but only on the geological timescale, and have higher value uses than as fuels. Those non-fuels uses are very much more difficult to substitute with renewables or alternatives than it is to use fuels more efficiently.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
I was just relaying an observation of a popular TV show. Their analysis was not in any way to be considered a scientific analysis. Now that I think of it, they may have been comparing a diesel LR3 to the Prius so the range was more likely 48 mpg and 47 mpg instead of the numbers I suggested above, I just remember that the Land Rover did better in miles per unit of fuel.
I don't like the Prius because everyone I know (or know of) that has one has this annoying holier-than-thou attitude that they are personally saving the planet from us SUV drivers. Maybe they are. Don't know. Don't care. Just don't want to be talked down two because of the fact that I feel I need two 7,000 lbm SUV's that don't come in diesel in this country. I would buy diesel Land Rovers if they were available in the U.S., not for conservation but for increased distance between fill-ups. Transportation fuel is not a significant portion of my budget and until/unless it is, conservation is not an overriding concern.
David
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
- Steve
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
With the lower fuel consumption, do you think that you have paid off the higher initial cost? Have you seen a decline in battery performance - vis-a-vis the lady in California suing Honda over their hybrid Civic? What's your outlook on replacing the battery? (I'm just curious - my better half is thinking about buying one, but I don't know anyone who has owned one).
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
I won't sell because I don't like all the extra stuff in the newer ones. But rear wheel drive can be a drag in winter.
Because of the packages to convert smaller trucks to electric I suspect there will be a market for them, just not enough to make me sell.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
I don't know if it is true that the hold up is the EPA test protocol or not, but my Land Rover dealer says that he could sell 3-4 times as many diesel LR4's (Discovery 4 in the rest of the world) as he's selling of the gasoline engines and he's selling the gasoline engine version as fast as he can get them on the lot, it really is a fantastic vehicle. I don't think that the dearth is economics.
David
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Up until a couple of years ago, diesel was a little cheaper than regular unleaded.
Now it is more expensive than premium unleaded.
I see fewer diesel light trucks on the road now than five years ago, but it could just be my perception.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
David
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
67 mpg (bigger UK gallon though) on a run.
Takes a while to heat up in the winter (too bloody efficient).
- Steve
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
However like Zdas mentioned the newest diesels meet those requirements.
If qualification is now the issue that's pretty sad.
What is Engineering anyway: FAQ1088-1484: In layman terms, what is "engineering"?
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
What we may have reached is peak oil at the limits of current technology. Future technology will surely have a peak oil, after several more limits of current technology.
But what will happen is as the price of oil goes up (it might go down too) new developments in both extraction technology, and alternitives will make new oil available, and new alternitives practical.
No peak oil, just a technology limit.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
The cost difference between the Prius and the new Venza is nearly zero, the cars are very similar in size and shape (Venza's a foot longer) but the Prius fuel economy is double, so that's a no brainer. Of course, our idiot neighbours across the street bought the Venza...fuel economy matters absolutely squat to some people.
Battery life is no problem- Vancouver taxi drivers have taken them 500,000km without a loss in fuel economy due to reduced battery performance. You can lose half the installed capacity before the hybrid efficiency is meaningfully affected.
Another benefit: 125,000km and the brakes are barely worn at all.
You need to block the grille in winter to keep it warm- helps noticeably with the fuel economy.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Do you have a nice-looking grille cozy cover, or do you do like I did in college and use a length of cardboard and twist-ties (on the inside of the hood, of course - on the outside was too uncouth)?
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Regards,
Mike
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
- Steve
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
They also said the reason LPG was not a viable fuel option in the UK though it was on the continent was because although the LPG was essentially surplus (whatever that meant) they believed that if they established significant sales in the Uk that the government would then impose far to high a tax on it. (I think this was also the SMMT but can't recall after all these years)
JMW
www.ViscoAnalyser.com
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
HAZOP at www.curryhydrocarbons.ca
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
TGS4: I use lengths of split foam pipe insulation sleeve material (the stuff you get from the hardware store for use on your hot water lines), stuffed around the grille trim from the outside and held on with a few black wireties. Not my idea- got it from a Prius forum- but it's cheap, doesn't look too bad and works well. Takes 15 mins or so to install. If you don't use the grille blocking, the engine will not shut down as often as it could.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Gasoline started as a surplus from the making of Kerosene as lamp fuel.
Presently many farmers use Propane as a fuel. They have conversion kits and they say it keeps the engine cleaner.
If I recall the early diesels in the US were loud, and smelly, so many people diden't want them. But some imported German diesels did not have those problems. So the problems seemed to be limited to Detroit, and what they make, not to diesels themselves.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
HAZOP at www.curryhydrocarbons.ca
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
HAZOP at www.curryhydrocarbons.ca
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
As to how much gets done...
It does depend a lot on whose propaganda etc. you believe.
What is Engineering anyway: FAQ1088-1484: In layman terms, what is "engineering"?
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
- Steve
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
But what will happen is as the price of oil goes up (it might go down too) new developments in both extraction technology, and alternitives will make new oil available, and new alternitives practical.
No peak oil, just a technology limit."
Well, obviously.... and we've seen how new technology has changed things again and again (seismic in the 1930's; subsea engineering and diverless technology went from 350ft in the North Sea in the 70's- where the Norwegian Trench was too deep for a pipeline- to 10,000ft+ today; multiple fracs in horizontal wells, pioneered in the tight chalk reservoir offshore Denmark have opened up tight shale reservoirs).
Ultimately, unless you belieave in the Russian abiogenic oil theory (and I'm dubious) oil & gas are both a finite commodity. But there are areas of the world we haven't really looked for oil yet (East Africa, large chunks of India, South Atlantic, and strangly, large bits of the Middle Eat- why explore when you have the Gawhar Field?); and types of reservoir we haven't really exploited yet (offshore heavy oil, shale gas, methane hydrates, oil shales, tar sands).
And then we have increased technology increasing recovery factors: better imaging to see where the bypassed oil is at the field level (4D seismic) and well level (things like NMR logging, azimuthal resitivity logging) and technologies like horizontal drilling and slim hole infill drilling to get at the bypassed oil and stuff like miscible gas/ surfacatant injection to get more of it out (for example for the Clair Ridge development, BP are going against 50 years of North Sea experience and will use fresh water for the water injection, as they now think sea water injection is a bad thing for recovery factors).
Unless somehting very dramatic happens, oil & gas will still be around a century from now as a transport fuel- the use for electricity and space heating may decline (the amount of oil used for electricity generation is almost nill now). However, the main suppliers of oil & gas may be very diffferent form today and the main useers of oil & gas may also be very differnt from today!
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
The price depends on development and consumption. If the price goes up, consumption will go down. If it stays up to long the customers will find alternitives. If development exceeds current consumption, (maybe because of cheeper old technology), then the price goes down, followed by an increase in consumption (That Seedoo may become fun again).
The problem is the people who predict these things don't see very far in the future. Or they get paid for saying what people want to hear.
Predicting peak oil is like predicting the horse races. Few of these people got rich on putting there money where there mouth is.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
HAZOP at www.curryhydrocarbons.ca
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
Cheers
Greg Locock
New here? Try reading these, they might help FAQ731-376: Eng-Tips.com Forum Policies http://eng-tips.com/market.cfm?
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
This can be seen in the sale of car types. Big cars if the price of fuel is low. Smaller cars if the price rises.
I believe the largest change in consumption is in other than transportation fuels. The so called fun uses of motors.
On the other hand, if oil rises in relation to natural gas, there will be a shift to the less expencive fuel. Again it will take time, and may or may not be a sustained shift.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
http://w
Not sure it has much to do with peak oil, but it does talk about new supplies in natural gas in North America.
RE: RE: Educated Opinions on Climate Change . . . . Peak Oil
The industry is scrambling to reverse the huge downward pressure that Shale Gas is putting on prices (2007 prices were over $10/MCF, 2008 was arond $3/MCF, 2011 was back up to around $4, projected 2012 is under $2). Two gas-to-liquids plants are in the prermitting process and at least three LNG export facilities are being permitted. Either natural gas as a motor fuel or major LNG capability will create a demand growth that will dwarf electric generation.
The rest of what I read seemed to be pretty cogent for the most part.
David