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US shale oil hype (lots of graphs to put shale hype in perspective).
The evidence shows that America's cheapest, easiest oil is long gone. The 1970 peak of 10 mbpd will probably never be eclipsed, and if so, it would't last long. It's not just a matter of matching the old flow rate and riding on easy street. Shale is desperation oil, not salvation oil.
Yes, new drilling techniques can extract tight shale oil, but at much higher cost and lower daily flow rates. Oilfield EROEI is universally on the decline. America would be very lucky to self-produce even half the oil we consume now (at about 20 mbpd). North Dakota and Texas are producing under a fifth of U.S. consumption, and fracking shale requires constant well drilling in shallow plays. Damage to the landscape and draining of watershed isn't trivial, either.
Many people can't seem to grasp the very concept bell curve depletion, especially a certain political party that ignores scientific evidence on many fronts.
Because the US is getting desperate. So it's hyping fracking, shale oil, any source at this point. The world is getting desperate, for that matter. Hence Russia's attempt to stake out part of the arctic ocean bottom.
US shale oil hype (lots of graphs to put shale hype in perspective).
The evidence shows that America's cheapest, easiest oil is long gone. The 1970 peak of 10 mbpd will probably never be eclipsed, and if so, it would't last long. It's not just a matter of matching the old flow rate and riding on easy street. Shale is desperation oil, not salvation oil.
Yes, new drilling techniques can extract tight shale oil, but at much higher cost and lower daily flow rates. Oilfield EROEI is universally on the decline. America would be very lucky to self-produce even half the oil we consume now (at about 20 mbpd). North Dakota and Texas are producing under a fifth of U.S. consumption, and fracking shale requires constant well drilling in shallow plays. Damage to the landscape and draining of watershed isn't trivial, either.
Many people can't seem to grasp the very concept bell curve depletion
Hmm. This could be interesting. Maybe I'll participate.
Quote:
Originally Posted by ca_north
especially a certain political party that ignores scientific evidence on many fronts.
WTF? The OP just insulted half the country?!
Now why would I (or anyone else) want to have a conversation with someone who's willing to put politics before science? Why would s/he start a thread about something that's (in context) completely apolitical, and then throw in a bomb like that at the end?
There's a certain group of people (easily identifiable by their gratuitous use of broad, sweeping insults) that think they're not only smarter than their political rivals, but they actually believe that they're higher quality people. Usually, they've got it bass-ackwards, but they're so self-absorbed and self-righteous, it's not possible for them to see anything from a truly objective position. EVERYTHING is about politics with these people, and they can't make a decision or analyze an action or situation without injecting political bias into their thought process. I feel truly, truly sorry for those people, not only because they're being played like the pawns that they are, but because deep down, they WANT to be played like the pawns that they are. It's very sad.
The OP is one dumb, uneducated, uninformed piece of misinformation, no doubt gleaned from some left wing web site. I LIVE in the oil area of west Texas. They are punching new holes all over the place, and some very deep ones. Why? Because there is a lot of oil down there. The Permian basin, as of this day is now pumping more oil per day than it ever has in its entire history. Oil companies are not idiots. They are drilling and pumping like mad because they are making big money fast. Yes the new deeper wells are more expensive. But the oil flow is so high that the pay out is quick. I heard of one one well that cost 9 million dollars that paid for itself in 9 months. A recent new well was reporting a flow rate of 3,000 barrels a day. For those of you that can't do the math, that's close to $300,000 a day. There are people out here making big money drilling, exploring and finding a whole lot of oil. If they aren't finding any oil, then why are we dropping our importation of oil by a million barrels every year for the past 7 years.
... Many people can't seem to grasp the very concept bell curve depletion, especially a certain political party that ignores scientific evidence on many fronts.
When you insult the Dems like that, they will become upset.
A question and an answer. First whats OP? Okay now for the answer. You have to look at the world wide market for energy which is growing endlessly. You just can't make enough to fulfill the needs of 7 billion people, most of whom want to live a western affluent lifestyle. The actual cost in terms of energy input required to extract, refine, and ship shale oil products to market is a break even or loss. It is hidden and not included in the final cost of the product. Holes don't get dug and rock does not get fracked if the commodity price per barrel does not support it. Currently it does. Ultimately the energy from difficult sources will cost too much, but who ever can pony up will get it.
Regarding political parties and their attitude towards fracking and shale oil, it is fundamentally the same: oil companies get their way most of the time. Democrats might scream louder but you have to look at the results and the voting record. Corporations, especially energy companies get their way and if they don't now, current trade agreements in the works (Trans Pacific Partnership) will fix that by removing state sovereignty. The corporation will be able to sue a state or local municipality to remove restrictions based on a international trade agreement. By the way, Obama supports the TPP.
The energy taken out of the ground regionally will affect affect prices regionally, generally lower, but the reason Keystone is built to the coast is to get that oil shipped to market, and the US is not necessarily the market. Why are propane prices so high? The answer is that it's cold and producers can make more money overseas. Regardless of your political stance, forget the idea that energy produced within these shores is to gain energy security at home.
Regardless of your political stance, forget the idea that energy produced within these shores is to gain energy security at home.
As a supporter of oil, we are past peak oil - that is fact we should all be able to admit. Oil companies will sell us out in a heartbeat. They have before & we should all admit that too.
Eth-heads are not the solution (yeah you greenies are high) but guess what? As much as you might think the two hate each other, they are investing in each other and working together. The koch brothers? Loyal to America and their product? I used to think so but now I know better. They too are in it for nothing but profit too. They even own bio-fuel plants now even though they ***** & whine about ethanol.
Ethanol is wrecking our environment, car engines, food prices and our water supply. Do you know how much water & fossil fuel enegy goes into a gallon of ethanol?? IT IS A NET LOSS FOR EACH GALLON OF ETH PRODUCED! How do they get away with it? Taxpayer subsidies.
The keystone pipeline has nothing to do with bringing oil into the US for consumption & national security. That pipeline is all about getting the oil to the highest bidder they can get for it & if that is overseas and it makes America vulnerable?? So what...the governments and the oil companies do not care.
Shale oil is only equitable now because it finally became doable when fuel costs rose sharply a few years ago. Before that it was laughable to think that oil source could be sold for a profit.
The dems, the reps....neither party cares about this country anymore and both need to be collar'd for a few years.
Uh hate to break it to the op, but oil company's are refining da heck out of this US shale oil, know the refinery were I work at refines bout 5,ooo railcars a day, lol. Wonder if Obama will ever let them run a pipeline, lol and know a pile of xcoworkers in da Dakotas makin a freakin killin as we speak, guess yall didn't get da memo, lol.
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