[Newfie]

Puff piece on offshore production around Newfoundland.

https://rbnenergy.com/i-am-a-rock-build ... production

[AdamB]

Puff piece on offshore production around Newfoundland.

https://rbnenergy.com/i-am-a-rock-build ... production

Another revival? When it comes to volumes needed to feed the beast at the global level, there was never a first revival.

[Newfie]

Bloomberg Peak Oil article.

America’s shale industry is about to undergo its latest transformation, and this time, consumers aren’t going to come out on top.

Javier Blas visited Midland, Texas, the capital of the Permian Basin and an epicenter of US oil production. What he found there was an interesting consensus: Output will likely reach its peak in a few years and remain flat. That leaves the question of what a post-peak planet will look like — and right now it looks like shareholders are going to be the big winners of the shale slowdown.

The American Oil Boom

https://www.bloomberg.com/opinion/artic ... ify%20wall

[theluckycountry]

How did consumers come out on top last go around? The whole shale industry appears to have been a way of manipulating GDP higher through financial growth, not actually increasing the wealth of the nation. That's really all that's left now, financial shell games, people making money off money. Stocks are pumped up and dumped, Wizz-bang new companies draw in billions with IPO's then go defunct within a couple of years. All the while tried and true scams like the health insurance cartel milk the population like a herd of cows.

I still hold that the peak of conventional oil in 2008 was "peak-oil". That was the natural peak, using massive amounts of that conventional oil to extract shale oil and push the total figure a little higher means nothing, they could just have easily done it with all the cheap coal

We calculate that the energy efficiency of the best existing Fischer–Tropsch (FT) process applied to average coal in Montana is less than 1/2 of the corresponding efficiency of an average crude oil refining process. The resulting CO2 emissions are 20 times (2000%) higher for CTL than for conventional petroleum products

https://www.researchgate.net/publicatio ... _Synthesis

Shale is a shell game too, if the true returns were stated upfront no one would have ever invested in it.

Jul 16, 2021
The U.S. shale industry has lost hundreds of billions of dollars in the past decade producing oil and selling it for less than it cost to produce.

This was possible because despite the losses, investors kept giving the industry money. But now investors appear to have grown tired of losing money on U.S. shale companies and new lending to the industry has dropped dramatically.

https://www.desmog.com/2021/07/16/us-sh ... nvestment/

That article is a year old, and today, 10 years and more down the track, some media stories are claiming that shale is finally profitable. But that was the lie they had been saying for a decade so take it with a pinch of salt. If anyone hasn't figured it out yet, the whole business/finance structure is totally corrupt and based on lies. It used to be just a casino, but we passed that phase. It's more like an opium den now.

[AdamB]

I still hold that the peak of conventional oil in 2008 was "peak-oil".

Peak oilers have been making up peak oils for decades now. 2008 was the 4th claimed or occurred peak of this century. We are currently post claim or occurred Peak #6, waiting to see if #7 does what #6 did to numbers 1 thrugh 5. No one has claimed you know anything about oil, economics, geology, oil engineering, so make believe whatever you wish.

Shale is a shell game too, if the true returns were stated upfront no one would have ever invested in it.

When US shale gas production started in 1821, and shale oil circa 1860-1880, you would have thought people would have learned, right? Instead, Americans being exceptional, we did what no one thought could be done...took an old rock and made it bury the world in oil and gas. Again.

Any other facts you would like presented to correct your usual, and expected, ignorance on a topic? Or is asking that question slanderous?

[jato0072]

Hubbert's Peak is Finally Here

Hubbert's Peak is Finally Here
06/ 15/ 2023
Topics: Commodities, Natural Resources, Contrarian, Oil
The article below is an excerpt from our Q1 2023 commentary.

Conventional oil production has now unequivocally rolled over. Unconventional production, the only source of growth in global oil supply over the last 12 years, has also significantly slowed. The only growing non-OPEC basin is the Permian in West Texas. Never before has oil supply growth been so geographically concentrated. Six counties in West Texas are now 100% responsible for all global production growth.

Conventional non-OPEC oil production peaked in 2007 at 46.2 mm b/d and now stands at 44.2 mm b/d – 4% below its peak. Including OPEC, conventional global output peaked in 2016 at 84.5 mm b/d and now stands at 81.3 m b/d – 5% below its peak. Even if OPEC has its alleged 4 mm b/d of unused production capacity (something we do not believe), conventional production would barely regain its 2016 peak.

[AdamB]

Hubbert's Peak is Finally Here

Hubbert's Peak is Finally Here
06/ 15/ 2023
Topics: Commodities, Natural Resources, Contrarian, Oil
The article below is an excerpt from our Q1 2023 commentary.

I think the "Finally" is the most amusing part of the title. Hubbert scheduled his original 1956 world peak oil for mid-1990's I believe, at a rate of (wait for it!) something like 12.5 billion barrels a year (I'm doing this from memory so lets not consider it "scientifically accurate", even around here where such terms are bandied about without them even being true) which is like 35 mmbbl/d. By the time 1989 arrived and Colin Campbell declared his first global peak oil in publication in 1990, he was discussing a peak oil nearly double that. And as we know, world oil production has been running at or near 80+ mmbbl/d for a big chunk of this decade.

So the "Finally" is more than a little ironic. And as with Hubbert's method of slapping bell shaped curves on things, we are now going to have to wait a couple decades to see if it is true. As we all know, Hubbert's methods was used to predict most of the OTHER global peak oils of this century as well. While the referenced source appears to have done far better research than the likes of the bloggers and doomers and PhD's without a lick of experience in the geosciences, engineering and economics of oil production, they have some core assumptions within their work that quite interestingly exclude exactly the mechanisms that dispatched the Hubbert method all those other times.

Not of interest to the oil amateurs of the world, but during a video of their work that I posted at this site a few days back they missed some interesting details that are publically available in their explanations, some of it published science. Critical details, as they tied directly to why past Hubbert claims have been so far off.

You would think folks would have learned? Oh wait! Some did!

I am also distressed that Peak Oil #6 has been with us for 5 years now, perhaps the reason why these folks don't use the science and known experience with why Hubbert was wrong (prior to recycling similar ideas), is because it seems safe? Nothing quite like declaring you know the numbers for last nights lottery drawing to prove how precognitive you are, right?

[theluckycountry]

Hubbert's Peak is Finally Here
06/ 15/ 2023
Conventional oil production has now unequivocally rolled over. Unconventional production, the only source of growth in global oil supply over the last 12 years, has also significantly slowed.

The extra oil produced over the past decade or so is uneconomic oil, it's extraction has done nothing to boost living standards across the globe aside from the lives of those benefiting directly from it. In every nation you can see poverty increasing among the vast majority of the population, even here in Australia, and the only thing propping many people up has been the lowest interest rates in recorded history.



This image is typical of what you find in a search now, it ends around 2010. The same for other searches for nation by nation oil consumption. Censorship online is very effective in hiding inconvenient truths but we all know how much lower interest rates went over the past 10 years. So yes the US has produced a vast amount of oil in the decade, but net net once you subtract the oil used to extract it the end result is an economic sink.

The low interest rates on CC, housing and autos is what has given the middle-classes the illusion that they are still doing ok, but as soon as they lose their job and can no longer afford the interest repayments their lifestyle collapses in a heap and they are living in penury. Abundant cheap energy is what we need to provide jobs and raise living standards and those days are long gone. The American decline began in the early 1970's and in Australia in the early 2000's when we had our own peakoil moment.

[jato0072]

The future is Mad Max?

In Mexico, drug cartels are taking the monster truck concept to another terrifying level, retrofitting popular pickups with battering rams, four-inch-thick steel plates welded onto their chassis and turrets for firing machine guns.

Some of Mexico’s most feared criminal groups, including the Jalisco New Generation Cartel, are using the vehicles in pitched gun battles with the police. Other organizations, like the Gulf Cartel and the Northeast Cartel, use the armored trucks to fight each other.

Mexican security forces call these vehicles monstruos (monsters), but they are also known as rinocerontes (rhinos) and narcotanques (narco-tanks). Cartels emblazon the exteriors with their initials or the latest in camouflage patterns, at times making them hard to distinguish from official military vehicles.

Flashy interiors of larger trucks feature front seats with a cockpit-like array of buttons and lights, metal seats from where gunmen can lean their rifles through holes and, in the middle, a hatch similar to that of a tank.

Link

The Spice must flow!

[Plantagenet]

More oily lies from the Biden administration.....

After draining almost half of the strategic petroleum reserve to save the US from a crisis that didn't exist, the Biden administration promised to refill the SPR.

But today they said they aren't going to refill the SPR......

Biden lied about refilling the strategic petroleum reserve

Oh well.....it's not like we have to worry about peak oil or wars or embargoes on the US or global oil supply shortages due to sanctions on Russian oil.

There will always be plenty of oil.....won't there??????


Biden used up half the oil in the SPR for no reason......but not to worry....if we ever run short of oil then they have oil.....all we have to do is invade and get it.....

Cheers!

[theluckycountry]

The drawdown being announced Wednesday would complete the release of 180 million barrels authorized by Biden in March that was initially supposed to occur over six months... The reserve now contains roughly 400 million barrels of oil... America’s Strategic Petroleum Reserve is a collection of underground salt caverns in Texas and Louisiana that can hold more than 700 million barrels of oil

The United States consumes an average of 20.6 million barrels of oil a day
700/20= 35 days supply.
Hardly worth it in the scheme of things isn't it.

https://www.pbs.org/newshour/politics/w ... um-reserve
https://www.eia.gov/tools/faqs/faq.php?id=33&t=6

[mousepad]

The United States consumes an average of 20.6 million barrels of oil a day
700/20= 35 days supply.
Hardly worth it in the scheme of things isn't it.

very much worth it for emergencies.

[AdamB]

The United States consumes an average of 20.6 million barrels of oil a day
700/20= 35 days supply.
Hardly worth it in the scheme of things isn't it.

very much worth it for emergencies.

Particularly when the "emergency" wasn't ever envisioned to be the world's largest producer of oil and gas shutting in all their wells. So that whatever volumes are laying around in salt caverns lasts just that much longer.

[theluckycountry]

The United States consumes an average of 20.6 million barrels of oil a day
700/20= 35 days supply.
Hardly worth it in the scheme of things isn't it.

very much worth it for emergencies.

Can you suggest an emergency that wouldn't last more than 35 days? A nasty hurricane perhaps? Another gulf oil rig disaster? Imagine if the Taiwanese hotspot blew up into war, which it will eventually of course. And imagine the oil route through those seas is closed? Personally I don't know what all the concern is about anyway, isn't the US now the leading producer in the world? What do you need a reserve for when it gushes out of the ground. Oh, sorry, that was 1970 wasn't it, I have my centuries confused. Now it has to be pumped out after millions of tons of sand is pumped in.

[Plantagenet]

The United States consumes an average of 20.6 million barrels of oil a day
700/20= 35 days supply.
Hardly worth it in the scheme of things isn't it.

very much worth it for emergencies.

Can you suggest an emergency that wouldn't last more than 35 days?

According to the Biden administration we're living in a big emergency right now that has already lasted over a year. This emergency was so bad it required Biden to tap the SPR.

The emergency is Biden's low poll numbers!!!!

Ohmigosh....Joe Biden is so obsessed with his poll numbers that he has already been pumping 1-2 million bbls of oil on most days, amounting to hundreds of millions of barrels of oil out of the SPR in a failed effort to boost his poll numbers.


must........raise.........my.........poll..........numbers

Given the fact he's already pumped huge amount of oil out of the SPR for his own political benefit, I think Joe Biden is now going to decide to pump the rest of the oil out of the SPR to try to boost his poll numbers before the next elections!!!!!

Cheers!

[Wm-scott]

There is a chance that what the American government is doing, selling off the strategic oil reserve, actually makes perfect sense, if, they have a plan. What the plan maybe is, it really is all about the oil. The coming war with Russia and China is all about maneuvering events into a situation where the US appears to be justified in launching a first strike on both of them. Leaving the US as the sole world super power. The US then occupies the oil fields of the world and has total control over the world oil supply. This creates the second American Pax, a peace enforced by cutting off oil supplies to any nations that fail to comply with the American agenda. Having nearly total economic control, the US then uses the United Nations as a puppet to make it appear that the UN is governing the world, as a front and a justification for US actions. The US would of course have nearly unlimited access to low cost oil, and most of the money from global oil sales would go to the US. With such a 'golden energy age' about to dawn in America, it makes sense to sell off the strategic reserve to keep America going to bridge the gap until then. Of course this is just a silly conspiracy theory that I dreamed up which is easily disproved in time, since if it was true I would expect to see US or NATO troops in control of Russian oil fields in less than a year. It is of course far more likely nobody has a plan and chaos is about to descend on the world on a scale unseen before in human history.

You can support my insanity by buying my new book "Dawn of the Flat Earth" at Amazon.com It is an adventure farce about science suddenly discovering the earth is flat, which is only slightly crazier than the world we are currently living in, and considering current US politics, it could actually happen.

[theluckycountry]

The coming war with Russia and China is all about maneuvering events into a situation where the US appears to be justified in launching a first strike on both of them. Leaving the US as the sole world super power. The US then occupies the oil fields of the world and has total control over the world oil supply.

You can support my insanity by buying my new book "Dawn of the Flat Earth" at Amazon.com

Another one for the Foe List

[Plantagenet]

There is a chance that what the American government is doing, selling off the strategic oil reserve, actually makes perfect sense, if, they have a plan.

How likely is it that the Biden administration actually has a sensible plan?

hahahah----well, I though It was funny anyway.

More seriously, the purpose of selling of the SPR oil is to boost Biden's poll ratings---is't that obvious?

The coming war with Russia and China is all about maneuvering events into a situation where the US appears to be justified in launching a first strike on both of them.

Thats a very silly idea.

The US then occupies the oil fields of the world and has total control over the world oil supply. This creates the second American Pax, a peace enforced by cutting off oil supplies to any nations that fail to comply with the American agenda. Having nearly total economic control, the US then uses the United Nations as a puppet to make it appear that the UN is governing the world, as a front and a justification for US actions. The US would of course have nearly unlimited access to low cost oil, and most of the money from global oil sales would go to the US. With such a 'golden energy age' about to dawn in America, it makes sense to sell off the strategic reserve to keep America going to bridge the gap until then.

Thats a silly conspiracy theory.

Of course this is just a silly conspiracy theory that I dreamed up which is easily disproved in time

Aha.. So we agree on something at last!

You can support my insanity by buying my new book "Dawn of the Flat Earth" at Amazon.com It is an adventure farce about science suddenly discovering the earth is flat, which is only slightly crazier than the world we are currently living in, and considering current US politics, it could actually happen.

Oh......you are an author. Cool.

Your book sounds like a fun read.

And you're in good company with the Flat Earth idea----you do know that Terry Pratchett set his fantasy novels on a FLAT EARTH don't you?


Terry Pratchett set his fantasy novels on a FLAT EARTH

I just checked out your AMAZON page and it looks like you've written something like 9 books. CONGRATULATIONS!!!!!

William Scott Anderson's Amazon book store

And some of them look like the kind of thing Hollywood could turn into real science fiction epics, assuming you get paid millions for the rights and then the right Hollywood agent and producer and director and movie stars and starlets all buy into the project!!

Good luck to you.

Cheers!

[Newfie]

Plant,

How are are you embedding images????

The method I had been using has crapped out?

I am trying to post a photo.

[Newfie]

The future is Mad Max?

In Mexico, drug cartels are taking the monster truck concept to another terrifying level, retrofitting popular pickups with battering rams, four-inch-thick steel plates welded onto their chassis and turrets for firing machine guns.

Some of Mexico’s most feared criminal groups, including the Jalisco New Generation Cartel, are using the vehicles in pitched gun battles with the police. Other organizations, like the Gulf Cartel and the Northeast Cartel, use the armored trucks to fight each other.

Mexican security forces call these vehicles monstruos (monsters), but they are also known as rinocerontes (rhinos) and narcotanques (narco-tanks). Cartels emblazon the exteriors with their initials or the latest in camouflage patterns, at times making them hard to distinguish from official military vehicles.

Flashy interiors of larger trucks feature front seats with a cockpit-like array of buttons and lights, metal seats from where gunmen can lean their rifles through holes and, in the middle, a hatch similar to that of a tank.

Link

The Spice must flow!

Check out this…


NARCO SUBS

Apparently some have actually crossed the Atlantic to Europe.

http://www.hisutton.com/Narco%20Subs%20101.html