[dissident]

$this->bbcode_second_pass_quote('pstarr', 't')here's that old EROEI buggaboo again. if it cost more energy to compress the energy than there is no energy left over for mom and the kids and the dog. and the mall.

but then we don't know because, no one has felt the need to engage in a robust, boundry-controlled recursive, life-cycle study of the NG tranport-fuel energy account. Until then, history tells us that natural gas will always be more expensive than liquid petroleum as the primary transport fuel. Why? Because the necessary infrastructure ([pipelines especially) were never built when the petroleum was cheap. Now if we had NG backhoes, excavators, tractors, bulldozers things might be different.

[Graeme]

Platts: OPEC Oil Production Climbs to 31.27 Million Barrels Per Day in February

$this->bbcode_second_pass_quote('', 'C')rude oil output from the Organization of the Petroleum Exporting Countries (OPEC) climbed by 400,000 barrels per day (b/d) to 31.27 million b/d in February from 30.87 million b/d in January, the highest volume from the 12 producing countries since the autumn of 2008, a Platts survey of OPEC and oil industry officials and analysts showed Wednesday.

Continuing recovery in Libyan production accounted for 250,000 b/d of the month-on-month increase. Smaller increments came from Angola, Kuwait, Nigeria, Saudi Arabia and Venezuela.

"What's fascinating about these numbers is that they are so much above what the International Energy Agency has said is necessary for OPEC to produce to keep inventories flat - what's known as the OPEC 'call,'" said John Kingston, Platts global director of oil. "For all of 2012, the call is 29.9 million b/d. Instead, OPEC is producing well over a million barrels per day above that, yet oil prices continue to climb."

[Wootan]

They sell a lot of cars in Chindia. Will they actually use them? Probably. So it should be possible to have some sort of Peak Oil-experience long before we actually reach PO. (If we haven't reached it already.) That would be like a placebo PO: All the pain and conflicts associated with resource depletion.

[Pops]

It will be interesting to see the IEA OMR for the stock situation in a week or so.
OECD stocks are down absolutely but since demand is down as well, the days of forward cover isn't bad.

[misterno]

something is wrong with this picture

OPEC is producing 1MMbd more than stated before and oil is above $123????

This is a proof that there is discorrelation between demand/supply and price.

[AirlinePilot]

Oh we got PLENTY of oil in the ground....just ask Larry Kudlow! he is an expert isn't he???

Go to about a 1:15.... the money quote is at about 1:25 ish.

http://video.cnbc.com/gallery/?video=30 ... giOiIifQ==

[DomusAlbion]

$this->bbcode_second_pass_quote('pstarr', 'T')hen we can tackle the really really really difficult job of encouraging populations into beautifully designed, densely clustered, walkable cities.

[MD]

How much?

More than we will ever use!

It will end as a mining operation, eventually. Hundreds of years from now.

At the end of the cycle, it won't be considered an energy source at all. It will be harvested for its other properties.

It's as obvious as could be.

[ralfy]

$this->bbcode_second_pass_quote('ian807', 'W')e might extend powerdown time by decades if we moved most private cars to alternatives to petroleum like butane or straight natural gas, for that matter.

Successful capitalism, of course, means never having to think about tomorrow.

[Kristen]

Even if there is an abundant supply of expensive oil, it's still expensive! Not too mention Global Warming, Surely such "exotic" technologies come with climate destruction. It's 80 in Minneapolis in March today! As much as I love summer it;s awkward. Our trees need cooling days or they would die!

[ralfy]

$this->bbcode_second_pass_quote('babystrangeloop', 'W')ho cares how much oil there is in the ground? There's always oil and that's all you need to know.

[peripato]

$this->bbcode_second_pass_quote('ralfy', '')$this->bbcode_second_pass_quote('ian807', 'W')e might extend powerdown time by decades if we moved most private cars to alternatives to petroleum like butane or straight natural gas, for that matter.

Successful capitalism, of course, means never having to think about tomorrow.

[peripato]

$this->bbcode_second_pass_quote('babystrangeloop', 'W')ho cares how much oil there is in the ground? There's always oil and that's all you need to know.

[ralfy]

$this->bbcode_second_pass_quote('peripato', '
')But first there will be war! Then famine, pestilence and disease...

[Rod_Cloutier]

Here we go people, the deepwater horizon disaster part II -!

$this->bbcode_second_pass_quote('', 'D')ubbed "the well from hell" by a Norwegian environmentalist who said the high pressure of the undersea reservoirs in the field made it especially hard to shut off, a plume of gas was visible over the platform, officials said, and a sheen of oil, also produced from the rig, was spreading over the water.

Officials imposed an air and sea exclusion zone around the platform, which had been pumping 9 million cubic meters of gas per day or three percent of Britain's natural gas output and lies some 150 miles east of the city of Aberdeen.

A senior Total manager said the firm was looking at two main options - drilling a relief well, which could take six months, or the faster - potentially riskier - alternative of sending in engineers to "kill" the leak affecting a platform that also accounts for some 5.5 percent of Britain's total oil production.

But, Total manager David Hainsworth added: "The well itself could die on its own. This is the dream option."

Otherwise, "There are two options for intervening," said Hainsworth, who is health, safety and environment manager at Total Exploration and Production UK Ltd. "One is drilling a relief well which could take about six months. The other is a platform intervention to kill the well," he told Reuters.

[Rod_Cloutier]

Come on people- this post has been here 8 hours and not even one post here.

I long for the 2010's heyday's of 'lets nuke the wellhead' for the deepwater horizon site, exciting times! Bring'em back.

[Colorado-Valley]

I say we nuke it!

[Keith_McClary]

$this->bbcode_second_pass_quote('Repent', 'C')ome on people- this post has been here 8 hours and not even one post here.

I long for the 2010's heyday's of 'lets nuke the wellhead' for the deepwater horizon site, exciting times! Bring'em back.