Darian S wrote:Can that ramp go up significantly above the previous peak? Can it sustain it for the indefinite future, at least the coming decades? Is the word that the newer wells drop production rapidly wrong?
Darian S wrote:The idea of a peak is not the end of oil, but merely a peak in production, unable to sustain significant increases above the peak for the relative near future.
Darian S wrote: Can the U.S. increase production significantly above their prior peak and sustain it for decades. If not at least for the U.S. it has peaked.
shortonoil wrote: It takes 50% more Shale to produce a barrel of finished product than it does light sweet crude.
Observerbrb wrote:Why are you still talking about volume? The drilling and extraction of oil volumes don't really matter. What it really matters is the final amount of energy that reachs Joe the Plumber.
pstarr wrote:Observerbrb wrote:Why are you still talking about volume? The drilling and extraction of oil volumes don't really matter. What it really matters is the final amount of energy that reachs Joe the Plumber.
There are several other measures more important than total volume. The oil exporters gain wealth through oil sales and oil-field employment, and then typically subsidize oil consumption among the general population. The Export Land Model demonstrates that exports decline faster than production increases, wealth and the ability to pay for oil is redistributed away from the importers. Hence the collapse of oil prices down from $100/barrel.
pstarr wrote:Not only does ETP show that less energy reaches the consumer, it also suggests that money spent on low quality oil production has less economic value. Less money and oil to add value to the final product. Less oil to convert NGL's into plastic goodies.
pstarr wrote: Though few are able/willing to admit it, the Greatest Recession ever was sparked in large part by the 2005 conventional oil peak and half-decade of $100/barrel oil (from $40).
pstarr wrote:My plan would lock up each of our monies in a secure account until August 20, 2018 or the 1970 peak is exceeded. That way neither can weasel. I have no idea how to manage such things.
pstarr wrote:shortonoil wrote:Your bet seems to be more about when the monetary/ financal system will take a high dive into a shallow pool than about oil, but, Good Luck.
TheHillsInfo
That is certainly a component of my confidence/bet. Though few are able/willing to admit it, the Greatest Recession ever was sparked in large part by the 2005 conventional oil peak and half-decade of $100/barrel oil (from $40). Each year the US sent an additional $300 billion overseas in oil-payments. The world is in debt and broke. Comfortable americans have no idea how low economies everywhere have already sunk.
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