[paoniapbud]

$this->bbcode_second_pass_quote('Taskforce_Unity', '@')Americandream


@poaniapbud

In two to five years is impossible. Recent Scientific research carried about by Charles Hall from New York State University with data from J.S. Herold Inc and BP showed that the EROEI of oil production is currently an aggregrate of 1:25. It has been declining somewhat in recent years due to the addition of various unconventional projects. It will decline further, but stay positive enough until at least 2030.

[Oil-Finder]

--> Reuters <--

--> DOE News Release <--

[killJOY]

from the article:

$this->bbcode_second_pass_quote('', 'T')hrough 2050, the North Slope COULD yield up to 36 billion barrels of oil and 137 trillion cubic feet of natural gas UNDER OPTIMISTIC ASSUMPTIONS, the Energy Department said.

[cipi604]

Great, one more year.

[MD]

It won't be long before it will be political suicide to oppose exploiting that resource.

[gampy]

Well, perhaps the US can start destroying some of it's own territory to pay for their population's oil consumption, instead of destroying other countries' environment. Seems fair.

I guess when northern Alberta is maxed out, and and Mexico gives up the ghost, the environmental lobby will not have as much leverage.

What kind of oil does the north slope have? Good stuff? Light crude?
Or a mix of light and heavy?

Are the oil companies thinking of investing up there right away? Or are they too heavily invested in Alberta, Iraq, Nigeria?

Waiting for the right climate to lobby their puppets in D.C.?

I dunno, I don't see the big deal about drilling for oil up there. It's not as if they are going to scraping off the boreal forest, and making lakes of poisonous sludge like they do in Canada.

[Tanada]

$this->bbcode_second_pass_quote('MD', 'I')t won't be long before it will be political suicide to oppose exploiting that resource.

[Oil-Finder]

Seems like there's a lot of interest in the Chukchi Sea portion of this.

--> Reuters <--

It'll be interesting to see what happens with the environmental lawsuits.

[TheDude]

$this->bbcode_second_pass_quote('', 'I')f all assumptions were to occur, an additional 36 billion barrels of oil and 137 trillion cubic feet of natural gas would be added over current reserve estimates. This result would help limit oil imports and increase America's energy security.

[Oil-Finder]

$this->bbcode_second_pass_quote('TheDude', '')$this->bbcode_second_pass_quote('', 'I')f all assumptions were to occur, an additional 36 billion barrels of oil and 137 trillion cubic feet of natural gas would be added over current reserve estimates. This result would help limit oil imports and increase America's energy security.

[Tyler_JC]

Why does everyone always turn each discovery into a reserve/consumption ratio?

[Oil-Finder]

$this->bbcode_second_pass_quote('Tyler_JC', 'W')hy does everyone always turn each discovery into a reserve/consumption ratio?

[Tyler_JC]

$this->bbcode_second_pass_quote('Oil-Finder', '')$this->bbcode_second_pass_quote('Tyler_JC', 'W')hy does everyone always turn each discovery into a reserve/consumption ratio?

[pup55]

$this->bbcode_second_pass_quote('', ' ')Through 2050, the North Slope could yield up to 36 billion barrels of oil and 137 trillion cubic feet of natural gas under optimistic assumptions, the Energy Department said.

That would be enough to meet current U.S. oil demand for about five years and natural gas for a year and a half, but some major obstacles stand in the way of hitting those goals.

[dinopello]

$this->bbcode_second_pass_quote('Tyler_JC', '')$this->bbcode_second_pass_quote('Oil-Finder', '')$this->bbcode_second_pass_quote('Tyler_JC', 'W')hy does everyone always turn each discovery into a reserve/consumption ratio?

[TheDude]

And the winner is Royal Dutch Shell.

$this->bbcode_second_pass_quote('', 'S')hell Is High Bidder to Drill for Oil and Gas Off Alaska

By BLOOMBERG NEWS
Published: February 7, 2008

ANCHORAGE (Bloomberg News) — Royal Dutch Shell, the oil company, offered to pay $2.1 billion in an oil and natural gas lease sale, becoming the biggest bidder for the rights in the Chukchi Sea off the coast of Alaska.

The Interior Department’s Mineral Management Service received $2.7 billion in winning bids for 488 tracts. The sale, a record for Alaska, generated 667 bids totaling $3.4 billion for the tracts on 2.7 million acres. The previous record was $2 billion in a 1982 sale in the Beaufort Sea.

The highest single bid was also from Shell, which offered $105.3 million on one tract.

“We see this as a proven, prolific hydrocarbon basin,” said Annell Bay, Shell’s vice president for exploration for the Americas.

ConocoPhillips had the second-highest accepted bids, totaling $506 million.

[TheDude]

$this->bbcode_second_pass_quote('Tyler_JC', 'T')his forum is a joke...

[Oil-Finder]

$this->bbcode_second_pass_quote('pup55', '
')
$this->bbcode_second_pass_quote('', 'D')evelopment of these fields should provide production rates of about 900,000 BOPD until about 2015.

[AirlinePilot]

$this->bbcode_second_pass_quote('pup55', 'A')nyhow, the impression that there is some huge, previously unknown oilfield out there, and that there is an immense flood of new oil imminently ready to be pumped is not supported by the actual report. A lot of the volume in the short term is arrived at the hard way, by smaller fields and slowing the decline of current fields, and amounts to less than 1 mbpd if, and it's a big if, the operators choose to do the projects, versus some other more interesting investments that they may have elsewhere.

[rockdoc123]

OK some of the stuff I know from experience...there is a ton of oil yet to be found in Alaska. Much of it will be in somewhat difficult reservoirs (low permeability). All of it will be extremely difficult to find. All of it will be extremely difficult to develope. All of it will be extremely expensive to produce.
To put things in perspective for those of you who have never been there think of the John Carpenter movie Thing. The weather you see is a good day in the winter. There are extended times where you have to stop drilling because it is so cold the metal parts such as the kelly will crack.
Peak oil is not about how much we have left out there, it is about the timing in which we can retrieve it and how that matches up against worldwide depletion.
I'm not a doomer by any stretch of imagination but I do realize the the timeframe for anything new coming out of Alaska is 2015 even if we discovered it in 2009....which means we are basically ready to drill it today because of the timelines that are imposed by access to most of the area. In my model 2015 just extends the bumpy plateau...and most people here think I'm a cornocopian.
My view is Alaska or the Arctic Islands have no chance of changing when the peak will occur.