John_A wrote:Point of order, which plateau? The one we just left a year or so back, or what is expected to be the new one?
pstarr wrote:Glut? Referring to the scant 750,000bpd tight shale we've managed to yank out in the last five years?
pstarr wrote:If I recollect Cantarell lost that much production in only a few years. You may have noticed that shale seems to entered its own plateau, at least base on drilling activity. Don't forget that without constant drilling, shale production plummets, at around 69%/year. So with the rest of the world's crude declining 4%-6%/year decline, I imagine the plateau will soon be history. And then there is ELM
John_A wrote:And we still don't know which plateau we are talking about yet, the old 83 mb/d one or the new 90+ one!
Palpatine wrote:John_A wrote:And we still don't know which plateau we are talking about yet, the old 83 mb/d one or the new 90+ one!
But I thought after we peak, it doesn't matter how many holes we poke in the ground, production levels will never rise again... EVER !!!
Loki wrote:So John and Palpatine, when do you think the US will blow past our previous peak in 1970?
Loki wrote:Yes, yes, but surely this new production falsifies the peak oil hypothesis. Your multiple posts on the subject have convinced me. This plateau nonsense is just code word for peak oil, which we agree is a bunk concept.
Loki wrote:This apparent plateau is just a lull before the storm of oil that's too cheap to meter. Peak oil my ass, it'll be flowing like the river Ganges in no time. Just wait.
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