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Originally posted by Tw0Sides
My friend , Peak oil is real, prepare for it..
The peak globally is projected to be 2010-2015.
Comsumption is doing a 45 degree and Production is leveling.
Deny if you must, but prepare.
what is the difference between 5 gazillion barrels at $25 per or 5 gazillion barrels at $100 per? 375 gazillion dollars.
An EROEI of 200 was achieved with some oil wells 50 years ago. Oil production in deep water currently achieves an EROEI of less than 5.
I already admitted that some countries (and specified Venezuela) are not part of OPEC... but they do tend to follow along with OPEC unofficialy.
As I mentioned in my post... so what are we arguing about?
Currently, Industrial use of energy is around $14/million BTU's. 50 years ago an oil well made $2800 of that $14 (In today's money), now they are making $70.
But really, even if the profit margins are dropping tremendously, which I find hard to believe since profits are so high, that could be due to a myriad of possibilities other than peak oil. My belief in abiotic oil is based on scientific evidence instead:
Do you think that at least is a fair assessment?
I will have to look into abiotic oil some more to be frank. I remember going over it a few years ago, but it never stuck with me. I do like the idea, given that there are many forms of hydrocarbons found in other places not on Earth. However, a quick read of the wikipedia page shows the issue is up for debate. Much debate.
But from a business standpoint, the natural gas reserves, being stranded, are worthless outside of the immediate area. Therefore, it makes good financial sense but poor energy sense to use that natural gas resource in such a way to increase the profit on extracting oil from the oil sands.
Originally posted by Puddles
There are alternative energy sources out there but why use them when you can milk the populationfor money and money creates economic growth
Take your time, it's been a month now.
Originally posted by boncho
I will suspend my case right now as I don't have the proper amount of time to look into it more. Multitasking is keeping me from focusing on one subject.
Of course the subject is worth it. Which is why I'm pointing out that Bonch has ducked a debate where he is likely to be hopelessly out-gunned. On past form he would also prefer this thread to be largely ignored and forgotten so won't want to bump it. Oops bumped!
Originally posted by TheRedneck
It would appear we are in the same boat so far as the multitasking; I am pretty busy with that nightmare we call real life myself. I would have loved to present the actual chemical equations in that last reply, but time did not permit. Take your time posting... I can be patient,
This subject is worth it IMO.
Originally posted by LightSpeedDriver
reply to post by Pimander
I'm with you on this one. If it really was running out, wouldn't governments and industries worldwide be attempting to decrease usage and dependence and finding alternative methods of power? I think they would. Nice post. It remains a controversial subject but I think it must be a lie. The government gets huge revenues from taxes on oil while big business gets it at a cheaper price than the consumer (here in Holland anyway). A nasty scam.
Of course the subject is worth it. Which is why I'm pointing out that Bonch has ducked a debate where he is likely to be hopelessly out-gunned. On past form he would also prefer this thread to be largely ignored and forgotten so won't want to bump it. Oops bumped!
At first, production grows rapidly as each new well adds its output. Eventually production for the oil field reaches a peak as each new well produces less oil and the older wells run dry. Then there is a rapid decay in production as more and more wells run dry.
At 521070 oil wells, the U.S. has more oil wells than the rest of the world combined. Yet the total productivity is sliding down the right side of the Hubbert curve. U.S. production is much less than the peak year of 1970 and the R/P of 10 means not much is left. More wells and better technology increases the rate of oil production, but total amount of oil produced is increased only a little. Compare the productivity per well of the U.S. (11 barrels per day) with Saudi Arabia (4730 barrels per day).