[C8]

Suddenly faster all of the sudden- we are finally at parity with Uganda

[jackmehoffer]

You like charts? WTIC crude Point and FIgure Chart,

Bullish Double Top Breakout May 3, target $110 US

....30 C in early May, might be some strong storms in the Gulf should they develop

[SamInNebraska]

$this->bbcode_second_pass_quote('Econ101', '')$this->bbcode_second_pass_quote('', 'W')e are now resorting to shale, etc., because conventional production has hardly caught up with global demand, and production for the majors has been dropping:

[Keith_McClary]

$this->bbcode_second_pass_quote('Tanada', 'H')ey as someone who started accessing the Internet with a 300 baud modem I was excessively thrilled to get up to 9600 in 1986 and 14.4 in 1988!

[careinke]

Who ever fixed the site.....bless you.

[Econ101]

$this->bbcode_second_pass_quote('SeaGypsy', '')$this->bbcode_second_pass_quote('Econ101', '')$this->bbcode_second_pass_quote('', 'W')e are now resorting to shale, etc., because conventional production has hardly caught up with global demand, and production for the majors has been dropping:

[Econ101]

$this->bbcode_second_pass_quote('SamInNebraska', '')$this->bbcode_second_pass_quote('Econ101', '')$this->bbcode_second_pass_quote('', 'W')e are now resorting to shale, etc., because conventional production has hardly caught up with global demand, and production for the majors has been dropping:

[SeaGypsy]

Explored from your desktop shorty. You are forgetting some of us here have known you for years, lifetimes even.

[Econ101]

You mad bro? Sometimes your mind seems closed and you are emotional in a negative way when faced with facts conflicting with your belief system. Am I right bro?

The substance of the worlds known oil supply is sufficient for one hundred yrs. Even today "text books" might admit that. We know we already have that. The industry says 200 or more! It is enough to meet our demand without exploring for more. All we have to do is develop it!

Peak oil is delayed for at least 100 yrs at which time zero point energy should be available or at least a personal cold fusion reactor.

[ralfy]

$this->bbcode_second_pass_quote('Econ101', '
')These concepts you refer to are political in nature. Some balance is needed. Why you would attempt to denigrate a person expressing an opinion different from yours is a mystery?

The concepts of eroei and peak oil are very convoluted and fluid. They are nonesensical when held up to the mirror of reality: ample oil and an ever growing world economy.

Peak oil is a a concept that has been proven wrong at every step of the way. Each time new evidence arises showing that fact to be true the "concept" changes. Now, you are right, I have no idea what peak oil is because the world is awash in crude and will be, even if we dont invest another dime in exploration, for the next 100 years or so. That means we will maintain our current supplies and continue to expand into demand without doing a thing for 100 yrs or so.

Unlikely we wont explore and develop but politics is doing what it can to see that happens. But if we dont, your concept of peak oil will start to kick in then if oil hasnt been relegated to a secondary energy supply by other advancing technologies.

[John_A]

$this->bbcode_second_pass_quote('Econ101', '
')
Peak oil is delayed for at least 100 yrs at which time zero point energy should be available or at least a personal cold fusion reactor.

[John_A]

$this->bbcode_second_pass_quote('ralfy', '
')The only "politics" involved in this issue involves referring to reserves rather than production rate and decline curves, and claiming that we need to "explore" more, as if by doing so production rate will suddenly go up. This reminds me of Saudi claims a few years back of easily reaching 15 Mb/d by 2011.

[ROCKMAN]

John - "As opposed to Hubbert claiming that the world would only produce 12 billion barrels a day at peak?" Since the world had produced more than that amount of oil by Hubbert's time I assume you miss spoke. Care to make your point again? Thanks

And I fully agree with you about projections of future oil rates. It seems that often such projections, both high and low, fail to include the most important aspect of such projections: the future price assumptions. As an example one can easily project increased US oil production IF oil prices stay at or above present levels. OTOH it would seem foolish to do so if one used much lower prices than we now have. It was only a few years ago that many folks had to eat their words regarding a continued boom in shale gas drilling. Whether they stated it or not those projection assumed high NG prices. And then prices collapsed and the rig count for such efforts dropped 75%. If one had stated their price assumptions for those optimistic drilling projections they at least would have a readymade excuse for being incorrect.

No one, not the biggest optimist on the planet, would have projected the current increase in US oil production had they assumed the oil price had remained at the levels of the late 90's. IMHO any projection of future oil/NG production rates isn't worth debating if it doesn't include the assumed price platform. Pricing is and always has been a more important factor in what gets drilled than the geology. I’m about to try an EOR project I developed 12 years ago. Couldn’t get funding until now. The geology hasn’t improved at all in the last decade…oil prices have. As I've stated before the oil patch would have drilled thousands of the current unconventional reservoir wells back in the 90's had oil prices been where they are today. We had the technology to do so at the time: we were using it to develop the fractured Austin Chalk carbonate shale at the time. And we knew of those proven but non-commercial reserves in the Bakken and Eagle Ford Shale for decades. All we lacked was higher oil prices.

[Econ101]

$this->bbcode_second_pass_quote('ROCKMAN', 'A')s I've stated before the oil patch would have drilled thousands of the current unconventional reservoir wells back in the 90's had oil prices been where they are today. We had the technology to do so at the time: we were using it to develop the fractured Austin Chalk carbonate shale at the time. And we knew of those proven but non-commercial reserves in the Bakken and Eagle Ford Shale for decades. All we lacked was higher oil prices.

[John_A]

$this->bbcode_second_pass_quote('ROCKMAN', ' ')And we knew of those proven but non-commercial reserves in the Bakken and Eagle Ford Shale for decades. All we lacked was higher oil prices.

[John_A]

$this->bbcode_second_pass_quote('Econ101', '
')Its true the price of oil helped spur the development in the Bakken but it is nowhere near as crticial as it was 15-20 yrs ago. It really doesnt matter what the price of oil is now, they are going to drain the Williston Basin of its billions and billions of barrels, unless of course we get zero point or cold fusion reactors in our basements. ?

[ROCKMAN]

John – If the US govt turned losev a few Marine Expeditionary Forces lose in a couple of unnamed countries our Texas independents could roll in behind and start turning to the right as fast as possible. Wouldn’t be the first time I sat on a rig ringed with armed men. A few years ago I would watch a navy patrol boat circle the rig while I was drilling. Made for a more restful sleep not worrying about Nigerian pirates. Expat pay is great…hazard duty pay is even sweeter. LOL.

Then we might see a global bump. Otherwise I just don’t think those boys over there, even with the help of Blue and Big Red, could get ‘er done anytime soon. But our MEF’s are standing by to keep the Middle East stable so the Chinese can continue their plans uninterrupted. LOL.

[Econ101]

$this->bbcode_second_pass_quote('John_A', '')$this->bbcode_second_pass_quote('Econ101', '
')Its true the price of oil helped spur the development in the Bakken but it is nowhere near as crticial as it was 15-20 yrs ago. It really doesnt matter what the price of oil is now, they are going to drain the Williston Basin of its billions and billions of barrels, unless of course we get zero point or cold fusion reactors in our basements. ?

[davep]

$this->bbcode_second_pass_quote('', 'I')f there is oil American companies are there, one way or another, because they know how to get it and get it to market.