Peak oil?

#2
There is a lot of oil still left in the north sea and the Celic sea which has not started production as yet, in the 70s you could only take out about 25 to 30% of oil out of a well, today with new and enhanced drilling techneques companies will be able to extract abot 60 to 70%

But it like anything, if you only read a newspaper you can be sold anything....!!
 
#3
Earth has already staked Indias claim, what's the betting that the Chinese will now find evidence that they discovered Australia four thousand years ago and that it's a Chinese province now!
 
#4
Earth has already staked Indias claim, what's the betting that the Chinese will now find evidence that they discovered Australia four thousand years ago and that it's a Chinese province now!
With that **** was staked to the ground and shat on by a billion of his country folk......did I mention he's a Dull ****!!
 
#6
Peak Oil as a theory of an imminent reality has been going since the mid-50s, they just keep finding more of the stuff. That's longer than I've been waiting hopefully for Peak Bullshit.
 
#7
This huge oil deposit is an oil shale, you have to do a lot of work to get the oil out. Now with lots of work to do and Australians, can anyone else see that dilemma forming.....?
 
M

Mark The Convict

Guest
#9
This huge oil deposit is an oil shale, you have to do a lot of work to get the oil out. Now with lots of work to do and Australians, can anyone else see that dilemma forming.....?
You haven't heeded earth's words of genius. We'll get Indian guest workers to do it for us, after we've seized their passports and kicked **** out of them. I bags first go on earth.
 
#10
2,000,000 Kiwis will be on the next flights over, so work force sorted.
 
#11
Given that we are pumping it and using it faster than it is being made there must come a time when we hit peak though?

Unless of course we move away from using the stuff in favour of something else but when you think of all the millions (billions) of uses it is put too I don't see that changing any time soon.
 
#12
Earth has already staked Indias claim, what's the betting that the Chinese will now find evidence that they discovered Australia four thousand years ago and that it's a Chinese province now!
Apparently, Indians discovered the Rockall Basin and Rockall used to be inhabited in ancient times by Indians.
 
#13
Oil is a finite resource - peak or not. That said, there is a huge boom in the U.S. oil production (mostly onshore, shale) currently, set to over take Saudi as the world's largest oil producer in 2017 and be a net energy exporter by 2025. Imagine that!

They are already flaring off huge amounts of natural gas as they don't what the hell to do with it.

There will definitely be a big shift in geo politics...
 
#17
Fleetwood will become the new Aberdeen, mark my words. Irish Sea oil production is begining to gather momentum, shallow water oil export hasn't run its full course yet, still plenty in the North Sea as we have probably only used half of what is currently available. The average depth of the North Sea is approx 100m and the Irish Sea 150m so it made sense to export the oil from the North Sea first.

For comparsion the Tupi field off Brazil has more oil in place than the North and Irish Sea combined and thats just a single field.

If anyone has got any spare money I would suggest Brazil oil & gas and associated industries as a sure fire winner as far as investment is concerned.
 
#18
Depends on how one measures peak oil - there's a hell of a lot of new reserves being added to the books due to new technologies making oil extraction from shales easier. If one measures peak oil by production and proven reserves on a worldwide basis it's more difficult to say. I know that in my company some fields are past peak, some around peak, some before peak, and some have proven reserves but are not producing yet. The economists in the company (using the assessments of subsurface gurus) try to balance post peak and pre peak to get a steady increase in production and reserves.

It's beyond me how anyone can gather enough data on a global scale and then assess the point at which peak oil has been reached.
 
S

syledis

Guest
#19
Exploration technology is getting better all the time and we are finding more ways to keep existing fields alive, so peak oil hasnt hit yet
 
#20
The period of peak oil is already on us, it's the high cost of oil that has made these reserves economical to tap into. Don't expect prices to drop in the future.
 

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