Posted on 07/30/2014 6:51:03 PM PDT by ckilmer
Build a mote around drilling sites with hungry crocks and alligators.
THAT is a really outside the box question! My son works on oil rigs in Texas. Let me ask him.
The TMS ain’t working. Too much clay and too little TOC.
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That was the take four years ago. Most companies pulled up stakes and went to the Bakken.
Recently however four or five companies have been successful aided by core labs. This a new story.
So ? that would give us 41.07 years of oil.
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BP put out an estimate on oil demand last year which predicted that total oil demand would start to decline after 2030.
Why?
There’s a pretty large shift over into natural gas trains trucks busses and buildings. As well, a much much larger shift into electric cars is being jerked into motion by elon musk’s tesla.
We’ll never see the end of oil. Rather what will happen will be that it will occupy an ever smaller part of the economy starting in 10-15 years.
Hope I can still drive my petro fueled car in 15 years, or so I should say keep it running in the next 15 years, can’t afford a electric car.
Drill Frack baby, drill frack
If we started exploring ANWR 10 years ago as GWB suggested, we could be reaping the benefits from that oil right now.
But the media kept running clips of the “pristine” Alaska wilderness, failing to mention that the oil is literally seeping up thru the ground there.
A billion barrels is about 45 days of US domestic consumption at current rate. 200 billion barrels = 200 x 45 = 9000 days, which is something like 27 years worth.
However, that domestic reserve could be used to leverage down the world price of oil for far longer than that, if managed prudently.
The key words are, “we could” but unfortunately, we WON’T.
However, that domestic reserve could be used to leverage down the world price of oil for far longer than that, if managed prudently.
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I think US consumption of oil will start to go into decline after about 2020. Further that decline will start to steepen by 2025. By 2030 there will be a price collapse on oil. It will be hell on oil producers but heaven for American consumers and the worldwide economy. Oil prices will wind up about $+-35 a barrel — which on a btu basis is about where coal and natural gas are today.
There will always be oil in the ground mostly because it will no longer be used so much.
As a saudi sheik once said, “the stone age didn’t end because we ran out of stones.”
Hope I can still drive my petro fueled car in 15 years, or so I should say keep it running in the next 15 years, can’t afford a electric car.
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The only way sales volumes for electric cars will go up will be is prices come down. According to the Tesla guy —that’s going to happen in about 3 years—like it did with the first cars at the 20th century. The first cars were rich people’s toys. Ford’s model T changed that so that everyone could drive. That’s what Tesla aims to do with electric cars.
If we started exploring ANWR 10 years ago as GWB suggested, we could be reaping the benefits from that oil right now.
But the media kept running clips of the “pristine” Alaska wilderness, failing to mention that the oil is literally seeping up thru the ground there.
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All true. The Alaskans currently have chipped in to help oil companies construct a huge new pipeline to ship natural gas south from the north slope. So they’ll be able to get that out of the north slope.
Remember when Bush said “drill baby drill” and Obama said it would never work?
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Hell its even worse than that. The Obama administration is currently trying to take credit for the oil boom when they have done nearly everything they could to stifle it. Similar things happened in the Clinton administration,.
If we had a Congress and President with half a brain, we could be exporting oil in 5 years.
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It currently looks like the USA will be oil independent by the end of 2019.
“I am not sure if this question has been explored here on FR but whats the fracking world concerning fracking for oil in the oceans ?
Is it more difficult in the oceans ?
Not counting the difficulty of drilling for conventional oil deep in the oceans is the geology more difficult or more easy for fracking in the oceans ?
The subsurface does not care if the surface is under water or not.
Fraccing is done offshore but not very frequently. Basically, it takes too much equipment to frac, equipment that is difficult to handle on a platform or attendant barge.
Makes it very expensive and must be wisely undertaken on proper wells.
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