We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.
Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.
We are going to have to import more of our oil. Period.
Nationwide cuts shut down basic services across Zambia and Zimbabwe for hours over the weekend and at home on Sunday the DA called on the government and Eskom to investigate power exports in view of the fact that South Africa was suffering its own shortages.
Reports on the radio this morning also mention Mozambique and Zimbabwe suffering bad power shortages. Botswana and Namibia are also heavily reliant on SA for their power - so things are looking progressively worse and worse in the whole of southern Africa at the moment.
Posted: Mon Jan 21, 2008 8:52 pm Post subject: Re: Global Fuel Shortage Reports
I saw that on a wire, Mbeki admitted being wrong in ignoring Eskom's demand projections and calls for adding capacity. He figured they would be wasting money building excess capacity and it could be done later when needed. Lead times, man, lead times. _________________ At $20 per barrel, the US was 5% of the world's population using 25% of the world's oil.
At $120 per barrel, the US is 5% of the world's population paying for 25% of the world's oil.
Posted: Mon Jan 28, 2008 8:47 pm Post subject: Re: Global Fuel Shortage Reports
Quote:
China issued a severe weather warning on Monday for large swathes of the country already reeling from transport havoc and power shortages caused by the heaviest snowfalls in decades.
The forecast of further severe snowstorms came as hundreds of thousands of travellers remained stranded in airports, train stations, and on highways as they struggled to join their families for the Lunar New Year holiday
Quote:
"Due to the rain, snow and frost, plus increased winter use of coal and electricity and the peak travel season, the job of ensuring coal, electricity and oil supplies and adequate transportation has become quite severe," Wen said at a cabinet meeting.
Quote:
A government official said on Monday the country's stockpile of coal for electricity generation had dropped to 21 million tonnes, less than half normal levels at this time of year.
Meanwhile, 17 provinces had taken power-rationing measures including deliberate blackouts in some areas, the official added, amid reports many power lines were knocked out by snow and frost.
Indonesia produced 830,553 barrels of crude oil in January compared with 837,847 barrels a day in December, BPMigas said today. _________________ Everything is Impermanent. Shakyamuni Buddha
Indonesia produced 830,553 barrels of crude oil in January compared with 837,847 barrels a day in December, BPMigas said today.
A seven thousand barrel a day change is not a HUGE drop, at these leves percentages are unimportant, its the total that matters. Add in the fact that their condensate production went up five thousand bbl/d over the same period and you have a total drop of 2,000 bbl/d. A lot for an individual or larger corporation, a pitenec for a country. Indonesia is a net importer at this point so really they just added 2,000 bbl/d to world demand in January, which is a very tiny amount on a scale of 85,000,000 bbl/d. _________________ Oxygen: - An intensely habit-forming accumulative toxic substance. As little
as one breath is known to produce a life-long addiction to the gas, which addiction invariably ends in death.--Isaac Asimov
Joined: Dec 18, 2004 Posts: 3561 Location: One Mile From the Columbia River
Posted: Mon Feb 04, 2008 11:33 am Post subject: Re: Global Fuel Shortage Reports
Yeah, maybe for a giant like SA or Russia.
But Indonesia is getting used to serious declines like this now. As most of us know, Indonesia was the key oil player in Asia for many decades and now look at them. Dropping from around 1.5 mbp/d to 830,000 bbls/d in 9 years.
If they continue this pace of decline, and there is no reason to believe otherwise, it would mean well over 250,000 bbls/d less production in the next three years. The very structure of their society could soon be crushed.
That's HUGE! _________________ Everything is Impermanent. Shakyamuni Buddha
Feb. 8 (Bloomberg) -- Daily shipments of North Sea Brent crude, part of the price benchmark for almost two-thirds of the world's oil, will fall by about 15 percent in March.
Tankers are set to load 157,346 barrels a day of Brent crude in March, down from 184,552 barrels a day scheduled for February, according to the loading program of field operator Royal Dutch Shell Plc, Europe's largest oil company.
A total of 4.88 million barrels will be shipped next month, compared with 5.35 million barrels in February. _________________ Everything is Impermanent. Shakyamuni Buddha
Joined: Dec 18, 2004 Posts: 3561 Location: One Mile From the Columbia River
Posted: Fri Feb 08, 2008 7:32 pm Post subject: Re: Global Fuel Shortage Reports
Not by me, it wasn't... and I try to watch this stuff pretty close.
Also, did you happen to notice February with 28 days March with 31 days makes this shortfall significantly greater! It appears the NS collapse is moving along at a somewhat faster than expected pace.
Edit: March has 31 days. _________________ Everything is Impermanent. Shakyamuni Buddha
LONDON, Feb 6 (Reuters) - French energy firm Total (TOTF.PA: Quote, Profile, Research) confirmed on Wednesday that it halted oil and gas output from its Elgin/Franklin fields in the North Sea, shutting around 280,000 barrels of oil equivalent per day, a spokeswoman said.
"Production will restart as soon as the technical issues have been resolved," a company spokeswoman said.
_________________ Cogito, ergo non satis bibivi
You got the wrong guy. I'm the Dude, man.
"We can find a needle in a haystack, but it is still a needle." - Colin Campbell on oil exploration.
Posted: Sat Feb 09, 2008 10:52 am Post subject: Re: Global Fuel Shortage Reports
Quote:
The Elgin-Franklin zone, which has been producing since 2001, has made a significant contribution to the Group’s activities in the United Kingdom. This project, the largest investment made in the British North Sea over the past twenty years, constitutes a technical milestone, combining the development of the deepest reservoirs in the North Sea (5,500 meters) with temperature and pressure conditions that are among the highest in the world.
Energy crisis and shortage of electricity as well as severe cold have damaged infrastructures in Tajikistan seriously and caused closeness of 90 percent of the country's factories and production centers.
Some of the European countries have closed their offices in Tajikistan due to lack of electricity in the freezing temperature.
Tajikistan people use electricity as their main fuel for cooking and heating houses.
FUEL shortages that were earlier sparked by Kenya's sudden slide into chaos after the disputed December 27 poll are creeping back, with major dealers reporting fast dwindling stocks.
Although the situation has not yet reached the early January crisis levels when a litre of petrol sold as high as Shs10,000, industry insiders yesterday expressed concerns that if supplies fail to improve, acute scarcities would soon set in.
"For the last three days no fuel tanker has come in and obviously that means our dealers are soon running out of stock," Shell's Ivan Kyayonka said.
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