by peakoilwhen » Tue 14 Feb 2017, 15:13:36
$this->bbcode_second_pass_quote('', 'B')ut it doesn't matter if oil (abiotic or biotic) is accumulating quickly or not. As explained above we still have to find it.
You've lived and worked thru a time when oil sells for 1% of its energy value. The extract costs are less than 1% of its energy value. If its unthinkable that oil would still be a worthwhile dig if the costs were $3000 per barrel, its not because it wouldn't be energetically worth while, its because other energy sources are cheap. All energy sources are plentiful, and worthwhile compared to human labour.
Just imagine the extraction machines the industry could have if the budget was x100 what it is today. You could extract oil from under the ocean abyssal floor with a giant submarine \ ocean floor station. Its all energetically viable, just not economic ( and never will be ) because so many competitor energy sources are so cheap, easy and plentiful.
You say yourself, the Russians drill deeply into igneous rock and get the world's greatest oil supply. Deep igneous has been ignored by the west thruout all oil history. Once the shale frack boom is over, you've got the far greater reserve of deep igneous.
The people at the top of the oil cartel don't like to point everyone to these great sources of oil. You are given drills, techniques, budgets and instructions to only extract only from a subset of geologic formations. Hence a stigma sets into the industry that all the places have been explored, and oil will soon run out. Sure, all the places in the narrow range dictated by the oil cartel. It fooled rockdoc. But then they 'discover' oil in a new set of formations, or a new technique, or a new tool, or the available budget jumps up which undermines the stigma of 'oil only found in x formations', but sets a new one, with a slightly greater range.
I think that's why Rockefeller is going after the Russians. They are breaking the rules by drilling deep into igneous formation. That can't be allowed to become a standard, else every country will do the same, become rich in oil, and Rockefeller and pals will lose their grip on the world oil economy.