Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

On The Thermodynamic Model of Oil Extraction by Hill’s Group

Discuss research and forecasts regarding hydrocarbon depletion.

Re: On The Thermodynamic Model of Oil Extraction by Hill’s G

Unread postby onlooker » Mon 27 Mar 2017, 16:27:04

The question has been for some time now been, is the excess inventory from oversupply or under demand? In turn this begs another question and that is why would producers be consistently oversupplying the market, when all that "dead" excess inventory represents expenses and no profits.
So one must deduce logically that the problem is under demand and they are simply producing to the max to both garner as much revenue as possible and to hopefully see a rebound in demand at some point.
All of which validates the Etp and its contention that demand will be inexorably falling in conjunction with a withering oil industry. Hence the oil price refusal to increase and conversely continues to decrease
"We are mortal beings doomed to die
User avatar
onlooker
Fission
Fission
 
Posts: 10957
Joined: Sun 10 Nov 2013, 13:49:04
Location: NY, USA

Re: On The Thermodynamic Model of Oil Extraction by Hill’s G

Unread postby shortonoil » Mon 27 Mar 2017, 17:06:41

"So one must deduce logically that the problem is under demand and they are simply producing to the max to both garner as much revenue as possible and to hopefully see a rebound in demand at some point."


There can be no doubt about what is happening, demand has tanked. If we look at the EIA's data it tells us that refinery input has been going up for the last 12 years while refinery output has been going down. It is taking more, and more crude to produce less and less finished product. With finished product inventories hitting record highes demand must be hitting record lows. It looks like the whole thing is running right on schedule.

click to enlarge, and save this before it evaporates
.
You do not have the required permissions to view the files attached to this post.
User avatar
shortonoil
False ETP Prophet
False ETP Prophet
 
Posts: 7132
Joined: Thu 02 Dec 2004, 04:00:00
Location: VA USA

Re: On The Thermodynamic Model of Oil Extraction by Hill’s G

Unread postby marmico » Mon 27 Mar 2017, 17:43:45

EIA Figure 3.2, Refinery and Blender Net Inputs and Net Production (Million Barrels per Day)

https://www.eia.gov/totalenergy/data/mo ... sec3_4.pdf

The EIA graphs will not evaporate.
marmico
Heavy Crude
Heavy Crude
 
Posts: 1112
Joined: Mon 28 Jul 2014, 14:46:35

Re: On The Thermodynamic Model of Oil Extraction by Hill’s G

Unread postby shortonoil » Mon 27 Mar 2017, 18:05:23

User avatar
shortonoil
False ETP Prophet
False ETP Prophet
 
Posts: 7132
Joined: Thu 02 Dec 2004, 04:00:00
Location: VA USA

Re: On The Thermodynamic Model of Oil Extraction by Hill’s G

Unread postby marmico » Mon 27 Mar 2017, 18:20:05

What a doofus. Why do you persist in this idiocy? Your numerator is refinery and your denominator is refinery and blender.
marmico
Heavy Crude
Heavy Crude
 
Posts: 1112
Joined: Mon 28 Jul 2014, 14:46:35

Re: On The Thermodynamic Model of Oil Extraction by Hill’s G

Unread postby Rockoil » Mon 27 Mar 2017, 23:53:29

I see Short's graphs as being correct. It is the official EIA numbers of input and output plotted on to a graph. It clearly show that more crude oil input needed every year to produce the same refined output.
Also, it took me a while to find out where this tread had been moved to. Why does every tread shortonoil post on have to be moved ?
Rockoil
Wood
Wood
 
Posts: 4
Joined: Fri 17 Mar 2017, 23:14:02

Re: On The Thermodynamic Model of Oil Extraction by Hill’s G

Unread postby Cog » Tue 28 Mar 2017, 06:54:09

How many sock puppet accounts must you create to complain about threads being moved?
User avatar
Cog
Fusion
Fusion
 
Posts: 13416
Joined: Sat 17 May 2008, 03:00:00
Location: Northern Kekistan

Previous

Return to Peak oil studies, reports & models

Who is online

Users browsing this forum: No registered users and 17 guests