by peakoilwhen » Sun 24 Mar 2019, 01:48:24
> The analysis I did only factored in what was economic at the time, and shale was not.
Yes you've made that clear already. What a foolish mistake.
$this->bbcode_second_pass_quote('', 'p')lease show a quote from me in 2012 where I said I was sticking with a 2012 - 2015 peak. I didn't say that and did not think that. It was clear as the shales became more important that they would change the face of global peak.
Don't try that. As late as December 2012 I was still polling you to change your 2013-2015 prediction of peak oil. You had ample time to revise to a later time period for peak. But you wouldn't budge.
$this->bbcode_second_pass_quote('rockdoc123', '')$this->bbcode_second_pass_quote('meemoe_uk', 'W')hen you and me had an exchange in the summer I was saying that unrecoverable oil would become recoverable if the market price of oil went up, and that it can go up way higher than it is today, and that oil is still very cheap today.
You were saying that increasing the market price of oil wouldn't impact our ability to extract oil much, so that peak oil would be around 2013-2015.

Now with your latest post you seem to have agreed with my previous stance. A 75% recovery rate for all the fields we've found will give plenty of oil for decades.
" the course of the economy " ?
You see what happens when the oil industry decides it needs more oil. Suddenly and 'fortunately' an oil rich nation is 'evil' and needs invading, and all the surrounding oil rich nations need revolutions as well.
This supports my thinking you were being too pessimistic with your ' oil technology and discovery have run their course and now we will peak ' idea.
you probably missed my latest post where I pointed out that despite very high oil prices companies have not increased exploration and indeed are retrenching. The point is they need investors money to be able to explore and they aren't getting any due to economic woes and pessimistic investor outlook. The same can be said for R&D, very little in the way of investment dollars for it currently so it is curtailed. I said that 75% ultimate recovery rate might be possible technically but I did not say at what expense, effort or time frame, all of which have to be taken into account. For simpler reservoir issues it could happen quickly and could be quite economic, however for more difficult problems such as oil wet reservoirs or viscous essentially dead oil it remains to be seen at what time a solution could be achieved or whether it could be done economically. It's not like you can just snap your fingers and we suddenly have high recovery rates in all fields.