by shortonsense » Wed 11 Nov 2009, 21:51:05
$this->bbcode_second_pass_quote('Novus', 'I') call BS on that assessment short. Oil fields never go empty.
Really? Well, perhaps you should tell that to this one which apparently petered out in 1911 or so.
http://en.wikipedia.org/wiki/Lima,_OhioThe exciting part!!!!
"With the discovery of oil in Lima in 1885, Ohio began what came to be called the “Oil Boom of Northwest Ohio.” Discovery actually began in Findlay, Ohio, a city forty miles north of Lima. The discovery of natural gas deposits there in 1884 led to national marketing efforts advertising free gas, as Findlay’s business leaders tried to “boom” the town."
The death.
"In 1911, the courts declared Standard Oil Trust a monopoly and broke it into several companies. Between 1887 and 1905, the Lima Oil Field was a world-class producer, yielding 300 million barrels (48,000,000 m3). Lima was also a pipeline center; within three years of the discovery of oil, a trunk line reached Chicago. Lima oil lit the buildings of the 1893 World’s Fair. Production peaked in 1904, and then dropped off rapidly. By 1910, the field was regarded as virtually played out."
$this->bbcode_second_pass_quote('Novus', '
')The oldest oil well in the world still pumps out a barrel of the black stuff every few days. West Texas still produces tens of thousands of barrels a day and those fields are pushing 90 years of continuous production. Ghawar will still be producing some oil in the year 2103. Peak Oil is not about fields going dry but fields peaking and then declining. When Ghawar peaked the KSA peaked as well and thus the world peaked.
Sorry, this isn't the place for an oil discussion. So I will simply reference JD's calculations on what people said Ghawar had in it, and how much has been produced, and presto!! Contemporaneous to the 1970's, it should be empty. Fact.