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Keeping Oil Production From Falling thumbnail

Keeping Oil Production From Falling

Production flows from a given oil field naturally decline over time, but we keep trying harder and technology keeps improving. Which force is winning the race? An oil reservoir is a pool of hydrocarbons embedded and trapped under pressure in porous rock. As oil is taken out, the pressure decreases and the annual rate of flow necessarily declines. A recent study of every well drilled in Texas over 1990-2007 by Anderson, Kellogg, and Salant (2014) documents very clearly that production flows from existing wells fall at a very predictable rate that is quite unresponsive to any incentives based on fluctuations in oil prices. If you want to produce more oil, you have to drill a new well, and in contrast to production from existing wells, drilling effort clearly does respond to price incentives. When a given region is found to be promising, more wells are ...

Production

Terrorism and the Electric Power Delivery System Part 2

My Summary of the 2012 National Academy of Science report written for the Department of Homeland Security: “Terrorism and the Electric Power Delivery System" There are many Really Stupid Energy-Electric Grid Interdependencies that will make terrorism, outage from natural disasters and other failures much worse Here are some other factors that I think will exacerbate the problems in the future as the system ages and there’s less oil to fix all the growing problems of society: Natural gas power plants are fed by natural gas pipelines that use electricity to keep the natural gas flowing. So when the electricity goes out, the natural gas will stop flowing to power plants. Terrorists are also likely to take out natural gas transmission lines when they attack the electric system as well. Natural gas pipelines used to use the natural gas flowing through them to power ...

Alternative Energy

Wave, Tide, Ocean Current, In-stream, and OTEC power

An Evaluation of the U.S. Department of Energy’s Marine and Hydrokinetic Resource Assessments. 2013. Marine & Hydrokinetic Energy Technology Committee; National Research Council. Introduction The U.S. Department of Energy (DOE) hired contractors to evaluate five Marine and Hydrokinetic Resources (MHK) globally: 1) Ocean tides 2) Waves 3) Ocean Currents 4) Temperature gradients in the ocean (OTEC) and 5) Free-flowing rivers and streams. Then DOE asked the National Academy of Sciences (NAS) to evaluate the results, so NAS assembled a panel of 71 experts to write this assessment. The NAS replied it was a waste of time for DOE to ask the contractors what the global theoretical maximum power generation from MHK resources might be. For example, solar power plants provide less than .1 % of electricity in the United States, even though the theoretical amount would be staggeringly enormous if you plastered the ...

Hard Facts About Fracking thumbnail

Hard Facts About Fracking

A new book evaluates whether natural gas is a 'transitional fuel' to a low-carbon future—or perhaps, more like a methadone addiction that's tearing apart rural communities. Growing up in northern West Virginia in the 1970s, I remember seeing a lot of big white plastic candy canes sticking out of the ground, marking the natural gas pipelines that ran just below the surface. You’d encounter them along streams and fence lines and the backcountry roads that always made me carsick. What I didn’t realize as a kid was how much of my family history was intertwined with those hidden gas lines. The Boom: How Fracking Ignited the American Energy Revolution and Changed the World by Russell Gold, Simon & Schuster, 384 pp., $26. My great-great-grandfather, William Dodd, helped lay some of the first pipe across the state, working for a subsidiary of Standard Oil at ...

Consumption

Peak Oil: Abundance? Not Really

It’s certainly understandable and indeed common practice in probably every sales conversation in every profession known to man that putting the best spin on the story told is a given. Most buyers/consumers would be surprised at the very least if a presenter offered up her or his best but then immediately discounted that version with other information contradicting it all and discouraging the consumers from even considering what’s being offered. We all understand there’s a game to be played. While that may be standard practice and simply part of the bargain to eventually be struck in the great majority of consumer transactions where the parties tend to be on equal footing, energy supply conversations don’t fall into that category when the discussion is between everyday consumers and industry officials or their representatives. Matters of such scope tend to be outside the range ...

Business

Asian, Western Firms Bid for UAE Oilfields

Asian and western firms have bid to help operate the UAE's biggest oilfields after a deal with oil majors expired this year but the Gulf Arab state is yet to decide whether to let Asian oil buyers in for the long haul, sources said. A final decision on the winning firms is unlikely before early 2015 as political leaders in Abu Dhabi, the capital of the United Arab Emirates, weigh whether to bring in Asian firms or stick with old partners, industry and diplomatic sources said. At least one oil major, ExxonMobil, appears to have decided against bidding, the sources told Reuters. ExxonMobil, Royal Dutch Shell, Total and BP - have each held 9.5 percent equity stakes in the Abu Dhabi Company for Onshore Oil Operations (ADCO) concession since the 1970s. Portugal's Partex had a 2 percent stake, and the rest was held ...

Global Fuckin Warming thumbnail

Global Fuckin Warming

This week: 1. Kayapo’s revenge 2. Antarctic meltdown 3. California’s lettuce killing drought 4. Global Fuckin Warming kills! 5. Eco Anxiety 6. Blockades work 7. Women stop Utah tar sands 8. Rising tide blockades line 9 9. Support Marius Mason 10. Savage Fam & Alas 11. Unist’ot’en Camp

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Orlov: Fact-Free Zone thumbnail

Orlov: Fact-Free Zone

The fog of war that has been hovering over eastern Ukraine has now spread to the shores of the Potomac, and from there has inundated ever pore of western body politic. The party line is that pro-Russian rebels in eastern Ukraine have shot down Malaysia Airlines flight MH-17, using a surface-to-air missile provided by Russia, with Russia's support and complicity. The response is to push for tougher sanctions against Russian companies and Mr. Putin's entourage. None of this is based on fact. To start with, it isn't known that MH-17 was brought down by a surface-to-air missile; it could have been an air-to-air missile, a bomb on board, a mechanical failure, or the same (or different) mysterious force that brought down MH-370 earlier this year. Mysteries abound, and yet western media knows it's Mr. Putin's fault. Step through the looking glass ...

North Dakota’s Oil Bonanza Is Unsustainable thumbnail

North Dakota’s Oil Bonanza Is Unsustainable

A decade ago, North Dakota was a wind-swept also-ran in the oil industry. Wildcatters struck oil there in the 1950s, but the rock was too dense to get most of it out, and the fields never amounted to much. The state produced about 30 million barrels of oil in 2004, enough to satisfy U.S. demand for about a day and a half. Then everything changed. In the mid-2000s, companies in Texas had figured out how to extract natural gas from dense shale rock near Fort Worth. A few enterprising oil men figured the same approach might work in North Dakota’s oil fields, and after a few false starts, they proved correct. Between 2004 and 2008, North Dakota’s oil production doubled. Then it doubled again. And again. This month, the Energy Information Administration said North Dakota produced 30 million barrels of oil ...

Public Policy

Tech Talk – and things continue to get worse

It is difficult to see any positive interpretation of the changes and conflicts that are increasingly filling the headlines of the press. Fluctuating optimism over the return to credible export production from Libya, to take but one example, is no sooner reported when the news comes of increased fighting in Tripoli, including the international airport. At the same time violence is spreading towards Egypt. Without a strong central government it is likely that the conflicts in that country will continue into the foreseeable future, with continued negative impacts on the export of oil from the country. Transient attempts to maintain a cease-fire and stabilize South Sudan have apparently failed again. The fighting has shut down local oil production, while overall production from South Sudan has been cut to 165 kbd. Capital continues to leave Russia (h/t Nick) and that flight is only ...

Michael C. Ruppert Evolutionary Collapse thumbnail Michael C. Ruppert Evolutionary Collapse
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Mike Ruppert is the publisher/editor of the newsletter, From the Wilderness. Most people probably ...
Business Peak Prosperity and Peak Cheap Oil: Chris Martenson Interview
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Published on Jul 13, 2014 GUEST: http://PeakProsperity.com VISIT US: http://FutureMoneyTrends.com
Peak Oil – Oil Addicted America thumbnail Peak Oil – Oil Addicted America
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Peak Oil - Oil Addicted America
Operation Protective Edge: One Hundred Thirty Nine Square Miles of Sand, Part I thumbnail Operation Protective Edge: One Hundred Thirty Nine Square Miles of Sand, Part I
""Mr. Balfour, supposing I was to offer you Paris instead of London, would you ...

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#peakoil Terrorism and the Electric Power Delivery System Part 2: My Summary of the 2012 National Academy of S... bit.ly/1tuIyRH

#peakoil Keeping Oil Production From Falling: Production flows from a given oil field naturally decline over t... bit.ly/1tuIyRQ

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