The Elephants are dying

The elephants are losing pressure and flowrate out of the well is decreasing. When you pump oil, you decrease the pressure in the field. The elephants do not have the flowrates the had in the 60's, 70's, 80's and part of the 90's.

Conventional recovery methods with water are also losing substance. New methods are being developed including CO2 injection. However, the oil is not running out.

New finds happen all the time and some are kept quite and not developed for decades if ever in some cases. Oil&Gas Journal reported that the world reserves increased in 2006 from 2005, mainly due to new finds in what was once a national park in the North Caspian Sea region in Kazhakastan. Soviet engineers did not have the technology to develop certain fields and abondoned the fields. Western technology has partly been responsible for new developments and rediscoveries in some cases.

Politics helps discover new fields. Central Asia for a long time has been cutoff by Iran and Russia from exporting its oil and natural gas abroad. Diplomacy in countries such as Kazhakastan and Turkmenistan is creating a boom in places such as Atyrau where Western countries are dramatically stepping up exploration.

There is much oil and much oil yet to be discovered.

Could you help me out by defining elephant?

Originally posted by GradyPhilpott
Could you help me out by defining elephant?

Here you go, grady.

HUNTING ELEPHANTS. Ghawar. Burgan. Safaniya-Khafji. Zakum. These are the strange, unfamiliar names of the four largest oil fields in the world. Oil occurs rarely in nature and when it does it’s often concentrated in large amounts. About 70% of the world’s petroleum is found in 370 giant fields, nicknamed "elephants" because they are so huge. Western civilization—life as we know it—is based on these elephants. In part because they are so big, the elephants were easy to find and inexpensive to produce. (To get oil out of Ghawar, for example, costs the Saudis less than $1 per barrel.) The discovery rate for elephants peaked in the 1960s. It’s getting harder and harder to find new ones. Indeed, many geologists believe that elephants are nearing extinction, that only a handful remain unfound. Source

Going on to prove that there is plenty of oil, and we won't be running out anytime soon, is what he seems to be suggesting.

Originally posted by niteboy82
The discovery rate for elephants peaked in the 1960s. It’s getting harder and harder to find new ones. Indeed, many geologists believe that elephants are nearing extinction, that only a handful remain unfound. Source

Going on to prove that there is plenty of oil, and we won't be running out anytime soon, is what he seems to be suggesting.

Your source says its harder to find, and only a handful have remain unfounded.

[edit on 14-1-2007 by deltaboy]

so what they are saying is that there is much , much oil to take from the land, BUT , YOU SEE THE TROUBLE IS they can not find any big elephants to punp out of. in other words the little oil fields that we have now, are not adiquate enough to supply the world. and since no ELEPHANTS are found we are left to war over the existing small ones. i told you people this is about oil, money power. this february the oil heads are getting together and this is when all the big mess will happen soon after. the domminos will fall , we will go to iran to protect our oil over in that region,( saudi oil.) THIS HUGE ELEPHANT.)this will happen reguardless of what congress says, because of the mess it will create. other countries will side with iran and it will ultimately end up in higher gas prices here. our dollar is low and getting lower the oil will get higher. hopefully a revolution here does not occurr. this year in 2007 you will see tell tale signs of the comming next year 2008. hmmm reelection time so a president can be elected to say that he can fix it when he cannot. the domminos will just keep falling and there is nothing i see we can do about it.

[edit on 14-1-2007 by littlebird]

Originally posted by deltaboy

Going on to prove that there is plenty of oil, and we won't be running out anytime soon, is what he seems to be suggesting.

Your source says its harder to find, and only a handful have remain unfounded.

No, you misread, I was referring to the OP in that statement, as he(or she?) was stating that there is plenty of oil left. I was showing that source to disprove him. Sorry for the mix-up (and the very late reply to your post.)

The source you refer to, an internet article and sketchy at best, does not disprove anything. Pick up a copy of Oil and Gas Journal December 2006, stating the world's oil reserves have increased from 2005. Elephants in fact are rare. There are but a handful of these fields in the world and the 300+ oil fields your article cites are in fact giant oil fields, up to 30 billion barells in the most rare of cases, where as elephants are classed based on the 50 billion barell range.

My point in case is this: there is more oil to be discovered, the world's reserves continue to increase from year to year, but do not expect anymore elephants at all, as these have nearly been exhausted in discovery.

According to today's literature, elephants are dream. Discoveries of 10 billion barells and 5 billion barells which would easily be eclipsed by an elephant, seem to be more common in print.

I was just wondering if anybody had heard of Russia's "Ultra Deep Drilling" for oil and if you have, what do you think about it.

RUSSIA PROVES "PEAK OIL" IS A SCAM

In 1970 the Russians started drilling Kola SG-3, an exploration well which finally reached a staggering world record depth of 40,230 feet. Since then, Russian oil majors including Yukos have quietly drilled more than 310 successful super-deep oil wells, and put them into production. Last Year Russia overtook Saudi Arabia as the world's biggest single oil producer, and is now set to completely dominate global oil production and sales for the next century.

If the opening paragraph of this report started by claiming that completely unlimited crude oil reserves exist inside planet earth, readers might be tempted to regard the entire text as preposterous ghostwriting for a novelist like Frederick Forsyth. If the report then went on to claim that the Russians have exploited this stunning reality for nearly thirty years, right under the largely unwitting noses of western intelligence, readers could be excused for mistaking the author for a lunatic, or perhaps as a front for spy novelist John le Carré. The problem here is that unlimited oil reserves do exist inside planet earth, and the Russians long ago developed the advanced technology necessary to recover these unlimited oil reserves in an efficient and timely manner.

I don't know how true this kind of drilling is or how productive, I'd just like to hear what anybody else has heard about it and how true it is.

Gazprom is on cutting edge of oil and gas recovery.

Gazprom alone controls around 25% of the Natural Gas in the world, as they move to Liquid Natural Gas technology, they will become the largest LNG supplier in the world.

Rumors are President Putin will become a director of Gazprom upon leaving the presidency, which is why they have been recieving favorable treatment and their competition eliminated.

The Middle east is being replaced by Russian Oil and Gas suppliers in this century...will be interesting to watch this play out in geopolitics.

Shortly before the collapse of the Soviet Union, fields within produced roughly 13 million barells of oil per day on average. As of right now, Russia is about 10 million barells per day on average and still have yet to produce on about a half dozen large scale projects including the Sakhalin islands. Though, they consume far more oil than Saudi Arabia and are still a far second in exports.