[seahorse2]

Extractionengineer,

I'm glad you're here and interested and look forward to reading your posts. As JT has pointed out by starting this thread, people in the industry bring a much needed perspective to the issue of PO and energy issues in general.

I've said before that I think all problems are solvable. However, problems only get solved is people are aware of the problem and then only act if they believe the problem to be serious. With PO and energy issues in general, the problems are too big for any one company to solve. They truly are national issues and require a national response. So far, Americans have not responded because Americans are simply ignorant to the issue. Right now, they simply believe that fuel prices are high because the are being gouged by a greedy Opec or greedy oil majors. Because they are ignorant and believe they are just being gouged, the risk is they will "react" to the problem instead of addressing the problem. For example, the CEOs of various oil majors were chastised last year by Congress, there is talk of increasing taxes (which would hurt exploration), Congress is now publicly mad at Opec (where will this lead?). These are the wrong kind of reactions brought about out of public ignorance. So, instead of understanding and addressing the issue, we do nothing, but what we have done so far hurts, not helps (turn food into fuel for example).

Its my belief that people will not receive the message until industry insiders like yourself are willing to give credibility to the issue and educate people about the issue. That's why I'm glad you took the time to post. I have enjoyed the posts that others like you have made here on PO. Rockdoc, Energydigger, Gasmon, Shakespear, and others.

What is interesting to me is what you said in your above post and what Gasmon said in his above post, about a lack of appreciation or understanding of the PO issue even within the energy business. For example, Gasmon wrote this:

$this->bbcode_second_pass_quote('', 'I')n my experience, people working in the (gas) industry at the sharp end do not know very much about the overall picture.

[ExtractionEngineer]

seahorse2,

Work is being done to educate. From a personal perspective I speak about peak oil whenever I get a chance in professional environments. I have no direct line of contact (yet) with top level policy makers, though.

I will attend the Offshore Technology Conference in Houston next week. There are many peak-aware folks/entities there. Last year nearly 70,000 people attended and even more are expected this year. In fact, Matt Simmons typically attends and occassionally presents at OTC.

Here's a question for you. What is a rational response from an oil company that recognizes peak oil and it's implications? The answers are as many as the myriad of individual responses to the same recognition. I agree, long past time to put the sirens on full blast.

[catbox]

Don't work in the industry but our company depends on oil to move the products to us, then to our customers via UPS, USPS, and FedEx.

Also...the whole surf, skate, and snowboard industry is a wash in oil due to the products produced.

Bonkers I tell ya!

cb

[big_rc]

$this->bbcode_second_pass_quote('ExtractionEngineer', 's')eahorse2,

Here's a question for you. What is a rational response from an oil company that recognizes peak oil and it's implications? The answers are as many as the myriad of individual responses to the same recognition. I agree, long past time to put the sirens on full blast.

[joeltrout]

$this->bbcode_second_pass_quote('big_rc', ' ') Newbie petroleum engineers coming straight out of college are getting $70-80k/year + signing bonus.

[LID]

I work up in the oilsands of Alberta. Things are full speed ahead up here with most people worried about how to pay 700,000 for a crappy little cookie-cutter house. I've worked as a surveyor all over the province for over 10 years and must say there's very few who have any real knowlege of the huge slowdown of the 80's up here, let alone what may be coming in the future. Most that have moved here in the last few years think there's a "sustainable" economy on the go. Record housing increases have dropped flat but not so bad overall since we couldn't get the fisher-price loans they were giving out down in the states (darn government regulations). Looking to save up and get some land in the mountains for a safe haven, but mostly for sledding, skiing and dirt biking for now.

[seahorse]

EE,

You're question as to what is a rational response by an oil company is a good one. Unfortunately, I'm not sure a response can be made by the industry until the industry itself becomes "PO" aware. I say this bc big_rc reiterates what you and Gasmon have both said, which is there is little understanding of the issue even in the industry. For example, BigRC wrote:

$this->bbcode_second_pass_quote('', 'A')lso I have had some conversations about Peak Oil with pretty high up people and there is some knowledge about it but at the same time things are getting pretty difficult within the industry.

[KillTheHumans]

$this->bbcode_second_pass_quote('joeltrout', '')$this->bbcode_second_pass_quote('big_rc', ' ') Newbie petroleum engineers coming straight out of college are getting $70-80k/year + signing bonus.

[joeltrout]

$this->bbcode_second_pass_quote('KillTheHumans', ' ')but is there actually a major somewhere called "Landman"?

[joeltrout]

The University of Tulsa just started their program. They show the average monthly salary for summer INTERNS is $4239.56 and then they also have living/moving allowances up to $2,000 per month.

Not bad for a college student in their sophmore or junior year.

When I was at the University of Oklahoma we had 7 years straight of 100% job placement before the seniors graduated. Which is a huge relief for graduates.

joeltrout

[KillTheHumans]

$this->bbcode_second_pass_quote('joeltrout', '')$this->bbcode_second_pass_quote('KillTheHumans', ' ')but is there actually a major somewhere called "Landman"?

[joeltrout]

$this->bbcode_second_pass_quote('KillTheHumans', ' ')I've never known a landman with the degree you mention though.

[big_rc]

$this->bbcode_second_pass_quote('seahorse', 'O')n a side note, I'm curious as to why there is so little recognition of the issue in the industry?

[joeltrout]

$this->bbcode_second_pass_quote('big_rc', '')$this->bbcode_second_pass_quote('seahorse', 'O')n a side note, I'm curious as to why there is so little recognition of the issue in the industry?

[seahorse2]

Big_RC

You asked if I was referring to SEC reporting requirements or NOCs, which don't report. Obviously, in an ideal world, the NOCs would have to report, but I don't think that's going to happen.

However, from what little I understand, even though the SEC has reporting requirements and I guess definitions of those requirements, there is still disagreement as to how certain terms are defined. For example, in the Oil and Gas Journal editorial of April 21, 2008, it discusses the recent publicity of the Brazilian finds and how the press often confuses certain terminology, but also, how in the industry itself there is no agreement on the definition of "reserves."

$this->bbcode_second_pass_quote('', 'I')n the ambiguous realm of oil and gas reserves, confusion is understandable. The industry that finds and produces fluid hydrocarbons, after all, has yet to agree even on a definition of the term. Enthusiastic officials and news reporters can be forgiven their occasional mishandling of the numbers.

[KillTheHumans]

$this->bbcode_second_pass_quote('joeltrout', ' ')

In the past a PLM or EM degree wasn't necessary. Actually no degree was necessary if you knew how to run title and had good negotiating skills.

[KillTheHumans]

$this->bbcode_second_pass_quote('big_rc', '')$this->bbcode_second_pass_quote('seahorse', 'O')n a side note, I'm curious as to why there is so little recognition of the issue in the industry?

[big_rc]

$this->bbcode_second_pass_quote('seahorse2', 'B')ig_RC

You asked if I was referring to SEC reporting requirements or NOCs, which don't report. Obviously, in an ideal world, the NOCs would have to report, but I don't think that's going to happen.

However, from what little I understand, even though the SEC has reporting requirements and I guess definitions of those requirements, there is still disagreement as to how certain terms are defined. For example, in the Oil and Gas Journal editorial of April 21, 2008, it discusses the recent publicity of the Brazilian finds and how the press often confuses certain terminology, but also, how in the industry itself there is no agreement on the definition of "reserves."

[big_rc]

Double post

[misterno]

$this->bbcode_second_pass_quote('joeltrout', '')$this->bbcode_second_pass_quote('KillTheHumans', ' ')but is there actually a major somewhere called "Landman"?