Category: Peak Oil

Apparently, the possibility that some innovations might be introduced, if they aren’t already in an undefined but probably—or at least likely—manner in certain instances where there could be some potentially good news provided that certain other events fall into place exactly as some are hoping for at some point, but in a good way (just not consistent with facts or reality, but why quibble), then by golly we might possibly see oil prices drop, which, coupled with the distinct possibility that certain savings could be achieved immediately after magic happens, could result in something good—perhaps. (Of course, lower oil prices would lead to lower profits and lower investment funds available and thus end a lot of exploration and production, but hey! Prices will be lower.) We won’t have anything to buy, but it will be cheaper…. That’s the essential point offered in a recent addition to the endless parade […]

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“Wait a minute,” you must be saying. “Haven’t we been hearing from the oil industry and from government and international agencies that worldwide oil production has been increasing in the last several years?” The answer, of course, is yes. But, the deeper question is whether this assertion is actually correct. Here is a key fact that casts doubt on the official reporting: When the industry and the government talk about the price of oil sold on world markets and traded on futures exchanges, they mean one thing. But, when they talk about the total production of oil, they actually mean something quite different–namely, a much broader category that includes all kinds of things that are simply not oil  and that could never be sold on the world market as oil. I’ve written about this issue of the true definition of oil before.  But Texas oilman Jeffrey Brown has been […]

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Rigzone Staff 4/16/2014URL: One of the criticisms levied against hydraulic fracturing, particularly during recent periods of drought, is the amount of water used in the process. However, energy companies are seeking to reduce water use during hydraulic fracturing, even as research shows more water is used in other activities. The numbers put things into perspective. The amount of water used to frack a well varies, but most reporting entities put the figure in a range of about 3 to 6 million gallons of water. In Pennsylvania, the average amount of water per well is about 4.4 million gallons, according to State Impact Pennsylvania, a reporting project of National Public Radio (NPR). Using a range of 3-5 million gallons of water per well in the Marcellus Shale, the State College Borough Water Authority calculated that about 12-20 million gallons of water were used in the formation each day. In Texas, the […]

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We live in a society where it is impossible to live a functional lifestyle and not consume products made from petro-chemicals every single day — electronics, fabrics, painkillers, food additives, cosmetics, fabrics, cleaning supplies, building materials, the list goes on. More than ever, it is precisely because it is incredibly difficult to survive outside of our wasteful, exploitative and fossil fuel-obsessed system that we need environmentalists and other activists — yes, even if they own a cellphone and wear cheaply manufactured clothing — advocating for alternative means of production and modes of consumption. (links in original) [1] Waiting for industry officials or their paid media mouthpieces—or political leaders with votes to gather—to deliver the truthful but sobering set of facts about our future energy supply will guarantee a long wait. Too many self-serving and short-term interests to be tended to make it unlikely we’ll get the honest and full […]

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By Competition often breeds excellence. Nowhere else does this cliché hold more true than in the shale boom that’s currently underway. In North Dakota, we see drillers are consistently improving their operational efficiencies with practically every new well drilled. Independent companies like Continental Resources have lowered their average well costs in the Bakken by almost 20%. Their success is far from an anomaly, and it has become a standard for every other operator. What’s more is that this isn’t restricted to just North Dakota. Today, competition has helped the oil bonanza spread like wildfire across the lower 48 states as new drilling technology unfolds. Unfortunately, that simply isn’t the case for everyone. Boom to Bust for Big Oil Take a look at the other side of the spectrum. Alaska has arguably been the most sensational disappointment in the U.S. oil industry since the 1980s, and the blame rests squarely […]

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Competition often breeds excellence. Nowhere else does this cliché hold more true than in the shale boom that’s currently underway. In North Dakota, we see drillers are consistently improving their operational efficiencies with practically every new well drilled. Independent companies like Continental Resources have lowered their average well costs in the Bakken by almost 20%. Their success is far from an anomaly, and it has become a standard for every other operator. What’s more is that this isn’t restricted to just North Dakota. Today, competition has helped the oil bonanza spread like wildfire across the lower 48 states as new drilling technology unfolds. Unfortunately, that simply isn’t the case for everyone. Boom to Bust for Big Oil Take a look at the other side of the spectrum. Alaska has arguably been the most sensational disappointment in the U.S. oil industry since the 1980s, and the blame rests squarely on […]

Click here to view full article at peakoil.com

"Wait a minute," you must be saying. "Haven’t we been hearing from the oil industry and from government and international agencies that worldwide oil production has been increasing in the last several years?" The answer, of course, is yes. But, the deeper question is whether this assertion is actually correct. Here is a key fact that casts doubt on the official reporting: When the industry and the government talk about the price of oil sold on world markets and traded on futures exchanges, they mean one thing. But, when they talk about the total production of oil, they actually mean something quite different–namely, a much broader category that includes all kinds of things that are simply not oil and that could never be sold on the world market as oil. I’ve written about this issue of the true definition of oil before. But Texas oilman Jeffrey Brown has been […]

Click here to view full article at www.resilience.org

Saved Save Article My Saved Items « » 2014-04-10T05:30:00Z Commentary: The Greens’ Peak-Oil Limits-to-Growth Apocalypse that wasn’t By RON KNECHT Elko Daily Free Press A few years ago, some experts predicted the world was about to reach a peak in global oil and gas production to be followed soon by marked decline. It would cause “war, famine, pestilence and death” — the biblical Four Horsemen of the Apocalypse. Another version: “war, starvation, economic recession, possibly even the extinction of homo sapiens.” Or, peak oil and gas “represents a mortal threat to the U.S. economy” and we “could plunge into a new Dark Age … in an overheated world.” This one lamented that it might well exacerbate “global warming” and thus it called for higher energy taxes and increased limits on coal alternatives. Besides the extravagant rhetoric typical of environmentalists, the Politically Correct and other statist liberals, even when these […]

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