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Is EROEI Important Pt. 5

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

Re: Is EROEI Important Pt. 5

Unread postby marmico » Mon 01 Apr 2019, 23:54:07

At some stage the manipulation of gold Seychelles sea shell prices via "paper" gold Seychelles sea shell sales will fail. Paper gold Seychelles sea shells vouchers which are what most buyers actually pay for are a scam which is an over-subscription on the actual gold Seychelles sea shells amount. These vouchers form a type of commodity market when it is not possible to have such a market for a severely limited supply item such as gold Seychelles sea shells.

Diversify your portfolio of real estate, stocks, bonds with 5% of Seychelles sea shells.
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Re: Is EROEI Important Pt. 5

Unread postby Yoshua » Tue 02 Apr 2019, 01:16:32

Venezuela: "According to preliminary internal estimates from state-owned PdV, March average crude production could be as low as 500,000 b/d, half of the February average, factoring in multiple days of shut-in output because of the collapse of the power grid."

Venezuela has equal "reserves" with Saudi Arabia...but the quality of the reserves in Venezuela are far lower.
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Re: Is EROEI Important Pt. 5

Unread postby Cog » Tue 02 Apr 2019, 03:53:34

I want to hear more about the chickens.
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Re: Is EROEI Important Pt. 5

Unread postby Yoshua » Tue 02 Apr 2019, 12:48:56

"BRAZIL OIL OUTPUT -4.9% YOY IN FEB., TO 3,182M BARRELS/DAY"

Another South American nation post peak oil?

Petrobras is an over indebted oil company. Can Petrobras even produce oil from the pre salt reservoirs economically?
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Re: Is EROEI Important Pt. 5

Unread postby shortonoil » Tue 02 Apr 2019, 13:28:42

Petrobras is an over indebted oil company. Can Petrobras even produce oil from the pre salt reservoirs economically?


No, and they never could. These are mostly small deposits in 15k+ feet of water, under 5,000 feet of salt. This was all PR from the get go. Tell people that over there is a whole lot of oil, and someone will be dumb enough to finance it. Peak is here, and we had better start dealing with it, or we will be eating the weeds out of our lawns very soon.
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Re: Is EROEI Important Pt. 5

Unread postby rockdoc123 » Tue 02 Apr 2019, 16:53:19

No, and they never could. These are mostly small deposits in 15k+ feet of water, under 5,000 feet of salt. This was all PR from the get go. Tell people that over there is a whole lot of oil, and someone will be dumb enough to finance it. Peak is here, and we had better start dealing with it, or we will be eating the weeds out of our lawns very soon.


Good God do you actually believe the complete and utter nonsense that you continually spew here?
Here are the facts regarding Brazils pre-salt:

Petrobras has been producing from the pre-salt for just short of a decade. In 2010 their production from pre-salt was 41,000 bpd and in 2018 it was 1.5 million bbls/d. The 2018 production comes from 77 producing wells. They note the most productive well in Lula flowing at an average of 36,000 bopd. At Libra oil columns are up to 400 m thick. Lula field now has 9 production platforms active and recoverable reserves are estimated at 7 billion bbls. So yes they could produce it, no it isn't small deposits and it has been producing for a long time at high rates almost entirely the exact opposite of what you infer. Why am I not surprised. :roll:
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Re: Is EROEI Important Pt. 5

Unread postby StarvingLion » Thu 04 Apr 2019, 11:32:49

The rockdoc has no credibility post:

1. Global Shale has heterogeneous geology with never ending learning curve and exponential rising costs.
2. rockdoc: "Increase production from Canada"

Canada is totally broke, 1 step away from Venezuela status:

https://www.rigzone.com/news/wire/exxon ... 8-article/

Exxon Hits the Brakes on $1.9B Project

Any decision to resume normal activity will depend on future government actions and general market conditions, Imperial said Friday.

3. Productivity improvements

See Well Spacing Disaster, equipment breaking down in new shale areas in Argentina (endless learning curve), etc

4. Decline Rate will remain steady

Bzzzt wrong. Already the reports are coming in that Conventional Oil is now in a significantly higher decline rate.

rockdoc has no credibility. He doesn't want to tell you that Conventional Oil Fields will require 100's of trillions in EOR just to maintain existing production plateau. Shale is a total disaster, hence the umpteenth time a KSA IPO is "in the works".

rockdoc's "pals", The Rockspam and Coffeeguise have abandoned him.

I'm downgrading rockdoc from BuzzardMeat to WormFood.
You will all be dead by 2025.
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Re: Is EROEI Important Pt. 5

Unread postby StarvingLion » Thu 04 Apr 2019, 11:41:02

The Gold Whackos have no credibility either.

Primary Energy Pursuit with Infinite Fiat: Fracking

Primary Energy Pursuit with new Gold Currency: Fracking

As I have indicated in the post above, Fracking is strictly:

A Bloody Waste of Time

I guess "Armageddon", BW Hill, and The Dissident will have to delude themselves with something else.
You will all be dead by 2025.
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Re: Is EROEI Important Pt. 5

Unread postby StarvingLion » Thu 04 Apr 2019, 11:54:12

Europe is so broke, it can't afford Used Toasters, nevermind EV's. The EV'ers remind me of The Band Playing on the Titanic; it seems civilized and proper and all, but irrelevant in context.

Physics is Bankrupt. Can't afford a useless Particle Accelerator because, well, these stupid devices are very good at using lots of energy, and not so good at ever generating any energy. Particle Accelerators are an EROEI disaster. The CERN scam has to be shut down because there is no cheap oil.

http://backreaction.blogspot.com/2019/0 ... igger.html

Nonsense arguments for building a bigger particle collider that I am tired of hearing (The Ultimate Collection)
You will all be dead by 2025.
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Re: Is EROEI Important Pt. 5

Unread postby vtsnowedin » Thu 04 Apr 2019, 12:38:12

StarvingLion wrote:As I have indicated in the post above, Fracking is strictly:

A Bloody Waste of Time


A waste of time that is producing 7.2 million barrels of oil a day plus a good bit of natural gas. 8)
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Re: Is EROEI Important Pt. 5

Unread postby Yoshua » Fri 05 Apr 2019, 05:26:08

The WTI crude oil price $62.

The price is right at the line of resistance. Will it brake to the up side...or will it crash? Well...we will just have to wait and see...
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Re: Is EROEI Important Pt. 5

Unread postby Yoshua » Fri 05 Apr 2019, 09:10:25

The coal price has collapsed from resent high.

https://www.reuters.com/article/us-aust ... SKCN1RH0IQ
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Re: Is EROEI Important Pt. 5

Unread postby onlooker » Fri 05 Apr 2019, 17:38:33

https://oilprice.com/Energy/Crude-Oil/S ... rades.html


Saudi Arabia Threatens To Drop Dollar For Oil Trades

Seems more like the ongoing process of abandoning the Dollar
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Re: Is EROEI Important Pt. 5

Unread postby dissident » Sat 06 Apr 2019, 13:53:39

StarvingLion wrote:The Gold Whackos have no credibility either.

Primary Energy Pursuit with Infinite Fiat: Fracking

Primary Energy Pursuit with new Gold Currency: Fracking

As I have indicated in the post above, Fracking is strictly:

A Bloody Waste of Time

I guess "Armageddon", BW Hill, and The Dissident will have to delude themselves with something else.



Take some lithium Bozo. Your rambling BS above seems to indicate that you think fracking will go on forever. Get a grip.
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Re: Is EROEI Important Pt. 5

Unread postby shortonoil » Sun 07 Apr 2019, 05:19:12

Saudi Arabia Threatens To Drop Dollar For Oil Trades


With the BIS, and even the IMF calling for a new world cyrpto currency the $ is rapidly being demoted to the trash bin of history. Oil is no longer the standard by which a currency can be valued. That is the result of its falling energy delivery capability to the economy, but since we are at Peak, and maintenance of the world's $247 trillion in debt is no longer even remotely possible with the existing system the CB can only continue to exist by introducing a currency system that can be maintained with a negative interest rate. A debt based system can not, so it has to go! The CB will continue to do what they have always done; that is stealing everyone's money. Gold, and silver (to some extent) are the most likely commodities to retain any value in this world where cannibalization of existing assets is the only means of survival.

So let's not kid ourselves, the Saudi will eventually drop the dollar because they won't have any other choice. Since they soon won't have any oil either, it most likely won't make that much difference. The association between world GDP and petroleum production is coming to its end, and when it does so will everything else. The end of the oil age will be preceded by a world in economic ruin.

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Re: Is EROEI Important Pt. 5

Unread postby Yoshua » Sun 07 Apr 2019, 05:33:00

By Rajhi Capital

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Re: Is EROEI Important Pt. 5

Unread postby onlooker » Sun 07 Apr 2019, 07:26:52

The Massive Increase Of Central Bank Paper Assets Warns Of Financial Danger AheadBy purchasing increasingly worthless paper assets, we can thank the central banks for propping up the global economy for the past decade.



https://srsroccoreport.com/the-massive- ... ger-ahead/
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Re: Is EROEI Important Pt. 5

Unread postby dissident » Sun 07 Apr 2019, 10:20:52

onlooker wrote:
The Massive Increase Of Central Bank Paper Assets Warns Of Financial Danger AheadBy purchasing increasingly worthless paper assets, we can thank the central banks for propping up the global economy for the past decade.



https://srsroccoreport.com/the-massive- ... ger-ahead/


A natural development in the debt Ponzi racket that has been driving GDP "growth" of the developed world for decades. This sort of debt quality degradation entropy was to be expected. Sort of like printing money like Pancho Villa gives you hyperinflation. There is no free lunch in the form of debt.

The reliance on the debt Ponzi begs the obvious question as to why real growth was inadequate and needed to be doped up. Looks like the winning economic system ain't so hot after all.

All those people who think that paper instruments will drive the real economy and real resource extraction into the indefinite future are terminally deluded.
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Re: Is EROEI Important Pt. 5

Unread postby rockdoc123 » Sun 07 Apr 2019, 10:22:47

By Rajhi Capital



that graph is labeled incorrectly....the numbers shown are finding and development costs, not operating costs. Concho Resources, as an example, reports their lease operating costs in their quarterly reports and for the 4th quarter of 2018 it was $6.00 - $6.50 per boe. They also point out their break even cost on average is around $28/boe which jives with the F&D number of $29.
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Re: Is EROEI Important Pt. 5

Unread postby Yoshua » Sun 07 Apr 2019, 10:57:11

Thanks. I actually thought that the operating costs looked too high.
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