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Peak Permian means Global Peak Oil will happen in 2020

General discussions of the systemic, societal and civilisational effects of depletion.

Re: Peak Permian means Global Peak Oil will happen in 2020

Unread postby zoidberg » Wed 27 Dec 2017, 10:23:38

Im pretty sure theres more resources globally awaiting proper investment conditions to come online. If north america alone had all this potential surely theres a lot more waiting in the wings.
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Re: Peak Permian means Global Peak Oil will happen in 2020

Unread postby AdamB » Wed 27 Dec 2017, 11:12:02

zoidberg wrote:Im pretty sure theres more resources globally awaiting proper investment conditions to come online. If north america alone had all this potential surely theres a lot more waiting in the wings.


400+ billion barrels globally, call it 325 billion if you take out the US for anyone who wants to take the time to keep up with such things.
Peak oil in 2020: And here is why: https://www.youtube.com/watch?v=2b3ttqYDwF0
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Re: Peak Permian means Global Peak Oil will happen in 2020

Unread postby tita » Wed 27 Dec 2017, 11:28:00

zoidberg wrote:Im pretty sure theres more resources globally awaiting proper investment conditions to come online. If north america alone had all this potential surely theres a lot more waiting in the wings.

Probably. But North America had a head start in shale in the presence of a large oil service industry and oil infrastructure, coupled with the availability of investment risk. It would require a huge investment to reproduce what happened in the US.

The most advanced project appears to be Vaca Muerta, in Argentina. But we talk about a 0.7 MMbbls/d growth in 5 years, less than the growth expected in the US just for 2018.

Remember also that in 5 years of high oil prices, there wasn't much increase outside North America and Middle East.
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