It's official: New monthly world crude oil production record

[OilFinder2]

EIA Table

Crude & Condensate:
July 2008: 74,669.571 bpd
Dec. 2010: 74,795.725 bpd

I mean . . . Is it OK for me to laugh? Do I need to point out how many times someone here told me we were past peak, and that production was about to fall off a permanent cliff? And how many times I was scoffed at and ridiculed because I thought production would reach new highs in the future? I do believe I'm allowed the following:

AHAHAHAHAH!!!!!

[OilFinder2]

And BTW, the yearly average is greater than 2008 also:

2008: 73,657 bpd
2010: 73,675 bpd

[Maddog78]

troll.

[OilFinder2]

And BTW, the yearly average is greater than 2008 also:

2008: 73,657 bpd
2010: 73,675 bpd

But the year is still just shy of 2005:

2005: 73,712 bpd

Oh well, should be no problem exceeding that in 2011.

[Pops]

Yeah read this a coupple days ago.

Wait a minute, wasn't the unlimited resources crowd just a year ago crowing about Peak Demand?

What happened to the whole "we'll all drive electric cars" bit?

Algae and switchgrass and whatever the press release of the day was fluffing?

and nukes...?


Looks to me like the only substitute for cheap oil is expensive oil (or a reasonable facsimile).

[dolanbaker]

We're still on the plateau of production, Yippie!
As it is, those figures are really in the "noise" and the only reason Chindia etc, are still growing is because the west is declining, were it not for the western recession, we'd have hit the production wall head-on a couple of years ago. Well we did give it a glancing blow!

[ian807]

I don't doubt that if you drill some new wells in Saudi, or bring more old ones on-line, in Saudi and a few other places, you can increase production for a while. I also don't doubt that if we do this, we eventually hit the downslope harder and faster.

At any rate, I'm still pretty sure that economics and the ability to support a complex supply chain will kill oil as a popular fuel way before we're even close to running out. When it gets scarce enough and expensive enough, oil become the sole property of governments and the military - entities less sensitive to price. You and I will either buy an overpriced electric car, use electric public transport, or walk.

But hey, there'll still be plenty of oil.

[AdTheNad]

Crude & Condensate:

How would the figures for net energy produced from crude and condensate compare?

[Dreamtwister]

Hooray! We're in the middle of the ocean, clinging to a piece of driftwood! The myth of drowning is completely dispelled!

[TheDude]

Hooray! We're in the middle of the ocean, clinging to a piece of driftwood! The myth of drowning is completely dispelled!

china oil demand - Google News Search

PetroChina Plans to Add Gas Assets as Japan Quake Boosts Demand

“There will be a continued growth momentum in China’s oil and gas demand even if we don’t consider the impact of the Japan earthquake,” Zhou said. “There’s tremendous demand for natural gas in China, providing a huge potential for PetroChina.”

“What is happening in Japan means China will use more fossil fuels in coming years than originally planned,” said Neil Beveridge, an analyst at Sanford C. Bernstein & Co. in Hong Kong. “China will have to speed up the development of its gas resources at home and look for more resources overseas.”

[meemoe_uk]

Is it official? Are both the IEA and EIA now trolling PO.com?

I don't doubt that if you drill some new wells in Saudi, or bring more old ones on-line, in Saudi and a few other places, you can increase production for a while. I also don't doubt that if we do this, we eventually hit the downslope harder and faster.

At any rate, I'm still pretty sure that economics and the ability to support a complex supply chain will kill oil as a popular fuel way before we're even close to running out. When it gets scarce enough and expensive enough, oil become the sole property of governments and the military - entities less sensitive to price. You and I will either buy an overpriced electric car, use electric public transport, or walk.

But hey, there'll still be plenty of oil.

That's the same generic drivel POer have been pedaling for 30 years.
POisNow doomer method :
If new record supply high achieved
Say " No doubt producers can supply record oil, even though we are past 'natural' peak. But doing so just accelerates the problem and the doom "

We're still on the plateau of production, Yippie!
As it is, those figures are really in the "noise" and the only reason Chindia etc, are still growing is because the west is declining, were it not for the western recession, we'd have hit the production wall head-on a couple of years ago. Well we did give it a glancing blow!

So the world energy budget just got lucky there? the west declined just as the east boomed, by pure coincidence? Er no. Western industry was moved east for the cheap labour. The idea that, had a dice rolled a different result a decade ago, we could just have easily been in an economy with a fully industrialised west and eastn world is BS fiction cooked up to serve doomer fantasies.

>Wait a minute, wasn't the unlimited resources crowd just a year ago crowing about Peak Demand?
Not really.

What happened to the whole "we'll all drive electric cars" bit?
That's a misdirected idea cooked up to serve the tree hugger, AGW, peakOilDoomIsNow paradigm. Cornys aren't part of that.

Algae and switchgrass and whatever the press release of the day was fluffing?
That was a misdirected idea cooked up to serve tree hugger, AGW, peakOilDoomIsNow paradigm. Cornys aren't part of that.
That these ideas have failed to gain an economic foothold other than token uptake by the zealot tree hugger, AGW, peakOilDoomIsNow paradigm types, is evidence against any peak oil supply forcing the western economy to change. i.e. it's supports cornucopian outlook. And evidences that PeakOilDoomIsNow is dead wrong. In yer face!

and nukes...?
Nuclear power is fine. But the oil industry and it's pet western mass media have always smeared nuclear because it threatens the oil energy economy because it's even cheaper. The events in Japan have been mana from heaven for the purpose of smearing nuclear power.

>Looks to me like the only substitute for cheap oil is expensive oil (or a reasonable facsimile).
Expensive oil is one of many alternatives. But we won't know by experience for likely another 100 years. Any oil under $1000 a barrel is very cheap.

[ColossalContrarian]

and nukes...?
Nuclear power is fine. But the oil industry and it's pet western mass media have always smeared nuclear because it threatens the oil energy economy because it's even cheaper. The events in Japan have been mana from heaven for the purpose of smearing nuclear power.
[i]

Not to get too off topic but you continually bring this up meemoe_uk as if GE has no influence over the US .gov, I would say GE is too integrated into our .gov than any oil company and GE has been there a lot longer too. Sorry, I still don't follow, GE vs. BP, is that what you're saying? I don't buy the nuc vs oil for this reason.

[meemoe_uk]

>Not to get too off topic but you continually bring this up meemoe_uk as if GE has no influence over the US .gov
I haven't said that explicitly. General Electric has some influence. But at some point General Electric interests had to go against Standard Oil interests. Standard Oil won. General electric just has to allow oil interests to take president over electric.
>GE has been there a lot longer too
GE founded in 1892, standard oil founded in 1870.
>Sorry, I still don't follow, GE vs. BP, is that what you're saying?
Electric interests vs Oil interests. Yes. Oil won. Why? Because oil is more marketable. Why? Because it's more versatile, transportable, cheaper ( before nuke power was availble ), easier to utilise, and has more market fluidity.

[pedalling_faster]

also known as

Undulating Plateau.

an increase of less than 1% over previous maximum ?

not significant - unless you've got a bet with someone.

like, a 5 gallon can full of gasoline (summer formulation.)

[seahorse3]

And BTW, the yearly average is greater than 2008 also:

2008: 73,657 bpd
2010: 73,675 bpd

But the year is still just shy of 2005:

2005: 73,712 bpd

Oh well, should be no problem exceeding that in 2011.

I'm trying to understand something, it is agreed that 2005 production is the high or not? I've gotten confused.

[dsula]

Because oil is more marketable. Why? Because it's more versatile, transportable, cheaper ( before nuke power was availble ).

At least Shorty and sidekick Xeno had some good arguments to defend their position, with you I can only wonder if you're a professional moron or a gifted amateur.

[OilFinder2]

I'm trying to understand something, it is agreed that 2005 production is the high or not? I've gotten confused.

The title of the thread is "monthly" production record. 2005 is still the "yearly" production record, but just barely.

[vision-master]

an it came to pass............

[FarQ3]

Oilfinder, I'm laughing too! it's a big joke really. We're still at the same plateau that we were at in 2004, and you're claiming victory over one months production? Quite weird really!

I was just about rolling around on the floor, but tell me will you respectfully eat humble pie on any month when the published monthly production figure is lower? I think that would be just as funny! I'm laughing either way! thanks OF for your light-hearted posting of the monthly oil figures. It's good to have balance yes, but it is even better when someone can make it laughable as well.

As a matter of interest what does the oil market report show Libya's exports in February? I ask this of you because I work for an international oil company and I had it on good authority that oil terminals in Libya were pumping out at maximum rates drawing down on their storage as much as possible due to the impending political turmoil. For obvious reasons I cannot divulge which oil company I work for as I am currently on site using the company network. I have worked for BP, Exxon Mobil & ConocoPhillips. I've been around & I know how the industry works. Oil companies have secrets ......

[OilFinder2]

Oh, but you see Mr. Far, we were supposed to be at, like, 66 mbpd right now, not 73.6. And it was supposed to be going down! deleted


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