Very good article:
Chris Skrebowski, editor of the British oil industry journal Petroleum Review, would not agree. He has just published his annual Megaprojects report. The numbers show the global oil industry implemented oilfield projects providing an extra 3.2 million barrels a day to the market last year.
This is a historically high level of activity. So why was production flat, and even falling in many countries? The answer begins with "d" and gets to the heart of the debate about when global oil production will finally peak and begin its terminal decline: depletion.
http://www.theage.com.au/news/business/ ... 55422.html
PeakOil is You
Depletion affects major oil companies
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Depletion affects major oil companies
by Newsseeker » Fri 16 Mar 2007, 08:59:12
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Re: Depletion affects major oil companies
by Tanada » Thu 10 May 2007, 18:52:50
Crap! I have been waiting for this to come out and it happenned when I was on vacation so I missed it completely!
$this->bbcode_second_pass_quote('Alfred Tennyson', 'W')e are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
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Re: Depletion affects major oil companies
by shortonoil » Thu 10 May 2007, 20:59:41
from Newsseeker:
$this->bbcode_second_pass_quote('', 'E')ither way, the fate of the world's largest economy may already be sealed.
$this->bbcode_second_pass_quote('', 'E')ither way, the fate of the world's largest economy may already be sealed.
Does this have the ring of nuclear winter. The victor gets to live two weeks longer than the loser! I am convinced that when the US goes down, the rest of the world will soon follow.
Great post! Thanks.
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Re: Depletion affects major oil companies
by TreebeardsUncle » Thu 10 May 2007, 22:27:53
Yep, depletion is often swept under the rug by tptb. Still, this will be very advantageous. All these fields being pumped hard well past their peak will lead to a drastic increase in rig counts and day rates in a vain attempt to keep up production (trading a moderate decline for a plateau or slight decline and then a steep drop off). That should really boost the earnings of the offshore drilling rig contractors (in which 6 of whom I have bought stock 
).
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Re: Depletion affects major oil companies
by NEOPO » Thu 10 May 2007, 22:34:24
$this->bbcode_second_pass_quote('shortonoil', 'f')rom Newsseeker:
$this->bbcode_second_pass_quote('', 'E')ither way, the fate of the world's largest economy may already be sealed.
$this->bbcode_second_pass_quote('', 'E')ither way, the fate of the world's largest economy may already be sealed.
Does this have the ring of nuclear winter. The victor gets to live two weeks longer than the loser! I am convinced that when the US goes down, the rest of the world will soon follow.
Great post! Thanks.
Wishful thinking perhaps?
Lemme guess, there is no happy sustainable ecovillage in your vision of the future?
It is easier to enslave a people that wish to remain free then it is to free a people who wish to remain enslaved.
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