Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

THE Fracking Thread pt 4

Discussions of conventional and alternative energy production technologies.

Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Sun 03 Nov 2019, 16:22:37

Richter readings of 2.0 have been recorded at Seattle Seahawks games when stadium filled fans were stomping their feet.
Cuadrilla had to shut down frac'ing when .5 (that's POINT 5) readings were registered.
Shame, that, as the recoverable hydrocarbons could have helped the UK immensely for decades to come.
The wind industry, amongst others, was the big, behind the scenes player knee capping these shale extraction efforts.
coffeeguyzz
Lignite
Lignite
 
Posts: 326
Joined: Mon 27 Oct 2014, 16:09:47

Re: THE Fracking Thread pt 4

Unread postby Tanada » Mon 04 Nov 2019, 09:41:14

coffeeguyzz wrote:Richter readings of 2.0 have been recorded at Seattle Seahawks games when stadium filled fans were stomping their feet.
Cuadrilla had to shut down frac'ing when .5 (that's POINT 5) readings were registered.
Shame, that, as the recoverable hydrocarbons could have helped the UK immensely for decades to come.
The wind industry, amongst others, was the big, behind the scenes player knee capping these shale extraction efforts.


I have long suspected in most of these cases that when Peak Gas and Petroleum start biting the world the authorities will suddenly see things differently than they do while the market is plush with resources.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
User avatar
Tanada
Site Admin
Site Admin
 
Posts: 17050
Joined: Thu 28 Apr 2005, 03:00:00
Location: South West shore Lake Erie, OH, USA

Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Mon 04 Nov 2019, 16:07:36

Tanada
There is a somewhat subtle "layer", if you will, beneath the scarcity paradigm ... namely the OTHER guy's resources will supplant MY current foothold in the marketplace.
Cost/pricing plays a fundamental role, but other factors - primarily political - come into play.
The fear of hydrocarbon scarcity is apt to be grossly misguided for several reasons.
Chief amongst them is the unfathomable amounts of natgas to be had throughout the world.

Case in point may illustrate ....
Recent brouhaha surrounding pipelines/terminals in the Turkey and Greece region highlighted that Russian outfit (Gazprom?) was piping fuel to the region at about $7.50/mmbtu.
LNG was then being marketed at under $5.00/mmbtu.

Crucial, if seemingly esoteric point here ... natgas was being extracted out of the Permian, Marcellus, Haynesville and piped to Looeezeeanna/Maryland, liquefied, loaded and shipped halfway around the world to be sold for under 5 bucks per mmbtu.
That is both revolutionary and completely paradigm shattering for the oil boys, coal producers, and ALL of the renewable advocates.

Another example is unfolding in northern Brazil where a second FSRU port is planned to support a new CCGT plant in Barcarena.
(Check out the massive Sergipe project as well as the proposed Santa Catarina operation).
Of particular interest with the Barcarena effort is that Golar is working to develop smaller capacity maritime vessels with which to transport LNG to regional industrial plants (think aluminum) so they can more economically produce their own power.

These innovations are rapidly spreading worlwide to Bangladesh, New Caledonia, the Phillipines and a few DOZEN other countries.

Vietnam is particulary instructive as simply massive amounts of power generation are coming online in the next 5 years ... primarily through Combined Cycle Generating Plants, fueld by LNG which is made available - in the early years, at least - with FSRUs.

Big, big changes are underway.
coffeeguyzz
Lignite
Lignite
 
Posts: 326
Joined: Mon 27 Oct 2014, 16:09:47

Re: THE Fracking Thread pt 4

Unread postby Subjectivist » Thu 09 Jul 2020, 09:56:56

Pa. grand jury ‘indicts’ fracking. Now what?

Outside, you’re going to sizzle in the 92-degree heat. Inside, you’re a sitting duck for the coronavirus. It’s a perfect day to quarantine in place with The Will Bunch Newsletter. Did someone forward you this email? Sign up to receive this newsletter weekly at inquirer.com/bunch. Then forward this to 50 of your best friends. It will help pass the time.

A long overdue grand jury exposes the truth about fracking, but will anything come of it?

Many of those living in close proximity to a well pad began to become chronically, and inexplicably, sick. Pets died; farm animals that lived outside started miscarrying, or giving birth to deformed offspring. But the worst was the children, who were most susceptible to the effects. Families went to their doctors for answers, but the doctors didn’t know what to do. The unconventional oil and gas companies would not even identify the chemicals they were using, so that they could be studied; the companies said the compounds were “trade secrets” and “proprietary information.”

— Pennsylvania grand jury report on fracking, June 2020.

It got lost in the shuffle of coronavirus and food lines and protesters on the Vine Street Expressway and whatnot, but in late June a state grand jury, steered by Attorney General Josh Shapiro, issued a damning 235-page report that in a world with any logic would have ended unconventional natural-gas drilling, or fracking, as we know it in Pennsylvania.

These citizen grand jurors did something that state leaders have almost never done since the hypesters and hucksters of Big Oil and Gas were welcomed into Pennsylvania with open arms amid the 2000s’ desperate desire for economic development at any cost.

They listened to the people.

For some 287 hours, the panel heard from folks directly affected by more than 12,500 fracking wells drilled in Pennsylvania during the 21st century. They listened to parents whose little girls woke up in the middle of the night with blood pouring down their noses, whose tap water smelled like sulfur and who found black sludge in the toilet, or who described getting a “frack rash” that felt like alligator skin.

The grand jury report was an indictment with a small “i” of a dirty industry’s disregard for the public (and to be fair, one major company firm pleaded no contest and paid a small $150,000 pollution fine, and a second has been charged) but also of regulators from the state Departments of Environmental Protection and Health who too often were too blasè about citizen complaints and too cozy with the natural-gas industry, sometimes leaving government for lucrative jobs there.

And yet there was also something maddening about this whole enterprise. It all smacked of too little, too late — where was this quest for justice a decade ago, when the worst violations were taking place? The report was hard on the GOP administration of ex-Gov. Tom Corbett and yet way too kind to Gov. Wolf, Shapiro’s fellow Democrat whom he hopes to follow into the Governor’s Mansion in 2022. And its recommendations for reforms are OK but not earth-shaking, and yet anyone who’s even driven through Harrisburg knows the GOP-led legislature will fight them to the death. It was great political theater for the ambitious Shapiro, who posed for the cameras with a jar of brown tap water, but what is going to change?

“It was clearly a missed opportunity,” Joseph Minott, executive director of the Philadelphia-based Clean Air Council, told me, “because everything that was said by the members of the grand jury — which stated upfront that they weren’t anti-gas — are very much the things that we experienced in those communities,” going back more than a decade, Minott said that the arrogance of the fracking industry, the penchant for secrecy, the indifference of regulators — it was all hiding in plain sight

Think about this: The Wolf administration stood up to opposition and has won high marks for shutting down the state for weeks to curb the spread of coronavirus, to stop Pennsylvanians from getting sick and maybe dying. But children getting sick and cows dying — with reports of childhood cancer clusters and studies projecting multiple deaths from air pollution — gets something closer to a shrug. New York to the north and Maryland to the south have banned unconventional drilling, but the Pennsylvania grand jury went out of its way to declare that “we are not ‘anti-fracking.‘”

I am, and so are a growing number of Pennsylvanians. In 2020, the grand jurors and state leaders like Shapiro and Wolf are where we should have been in 2010; meanwhile, in the reality-based world, clean renewable energy is now a cheaper option than fossil fuels, including fracked natural gas, and firms like one-time industry leader Chesapeake Energy — which recently filed for bankruptcy protection — are paying the price for their short-sightedness and greed. Some day in the near future, moms with sludge in their toilet and blood smearing their daughters’ faces will get the relief they deserve. It just won’t come from our state’s feckless politicians.


https://www.msn.com/en-us/health/wellne ... r-BB16rRno
II Chronicles 7:14 if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land.
Subjectivist
Volunteer
Volunteer
 
Posts: 4701
Joined: Sat 28 Aug 2010, 07:38:26
Location: Northwest Ohio

Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Thu 09 Jul 2020, 13:41:58

While the above posting from subject is beyond vile in its deceitfulness, inaccuracies, and grotesque fraud, it nevertheless offers an outstanding example of how Communists operate by spewing the most outrageous lies in their unending zeal to control narratives ... and, consequently, public policy.

The Pennsylvania Department of Health has declared the 'secret' Grand Jury findings as having "factual errors" and "erroneous conclusions".

The Pennsylvania Department of Environmental Protection needed court intervention to access the Grand Jury transcripts and responded thusly ...
"DEP was surprised by the extent of the factual inaccuracies and confused articulation of the relevant law ...".

The DA who launched this weaponized legal assault on the Marcellus gas industry - uber Marxist Josh Shapiro - is running for re-election in a few months and hopes to be governor in 2 years.
THIS, dear readers, is how Communist scum operate when given any control over governmental functions.

I will not bore anyone with the background of the decade old cases which form the fraudulent "basis" for this current repugnant assault on our current legal structure.
Suffice to say - and ANYONE can verify the truth for themselves with some research - some disgruntled leaseholders in Washington county wanted to renegotiate terms for EXISTING wells on their land.
Rebuffed, the property owners ran to sympathetic journalists - one of whom is actually a relative of the disgruntled property owners - and interest groups and started spinning the most outrageous falsehoods that have been shot down EVERY time.
Know Nothings will continue to wallow in lies as that is all that remains of their 'strategies' to hobble a free market and a free country.
coffeeguyzz
Lignite
Lignite
 
Posts: 326
Joined: Mon 27 Oct 2014, 16:09:47

Re: THE Fracking Thread pt 4

Unread postby sparky » Sat 18 Jul 2020, 06:56:55

.
The Texas railroad comission has been holding hearing on the proper production controls on the industry
this led to this quite telling contribution

" April 14, 2020 (IEEFA U.S.) – At a public hearing held on Tuesday by the Texas Railroad Commission (RRC) closely followed by industry experts and analysts, IEEFA’s Director of Finance, Tom Sanzillo urged production cuts (“prorationing”) to deal with the ongoing turbulence and oversupply in the oil and gas sector.

“The problems of oversupplied markets and low prices, aligning interests within the industry, technological competition and the changing composition of economic growth predate the coronavirus outbreak and will persist long after the pandemic passes,” he said.

Sanzillo reminded the Commissioners that from 1970 to 2000, the energy sector led the market occupying 28% of the S&P 500, today representing only 2.9%. "

I would be curious to know in which industries the 25% gain are
probalby software , vaporware , dataware ....etc
User avatar
sparky
Intermediate Crude
Intermediate Crude
 
Posts: 3587
Joined: Mon 09 Apr 2007, 03:00:00
Location: Sydney , OZ

Re: THE Fracking Thread pt 4

Unread postby Subjectivist » Sat 18 Jul 2020, 11:22:42

sparky wrote:.
The Texas railroad comission has been holding hearing on the proper production controls on the industry
this led to this quite telling contribution

" April 14, 2020 (IEEFA U.S.) – At a public hearing held on Tuesday by the Texas Railroad Commission (RRC) closely followed by industry experts and analysts, IEEFA’s Director of Finance, Tom Sanzillo urged production cuts (“prorationing”) to deal with the ongoing turbulence and oversupply in the oil and gas sector.

“The problems of oversupplied markets and low prices, aligning interests within the industry, technological competition and the changing composition of economic growth predate the coronavirus outbreak and will persist long after the pandemic passes,” he said.

Sanzillo reminded the Commissioners that from 1970 to 2000, the energy sector led the market occupying 28% of the S&P 500, today representing only 2.9%. "

I would be curious to know in which industries the 25% gain are
probalby software , vaporware , dataware ....etc


The TRRC has not issued restrictions on production since the 1970's. While they may retain the authority I find it highly dubious that they would exercise that power after so long leaving it idle. I also suspect if they do try and exercise their power the Congress would immedietly pass a law eliminating their authority.
II Chronicles 7:14 if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land.
Subjectivist
Volunteer
Volunteer
 
Posts: 4701
Joined: Sat 28 Aug 2010, 07:38:26
Location: Northwest Ohio

Re: THE Fracking Thread pt 4

Unread postby rockdoc123 » Sat 18 Jul 2020, 12:03:38

the railroad commission decided they would not impose production restrictions. Many of the smaller producers wanted to see this happen but it seems Exxon and Chevron have more of the commission executive in their collective pockets. XOM and CVX benefit from lots of supply hence low prices as it puts small companies in extreme stress and makes them vulnerable to take over.
Alberta had restrictions of production in a ploy to raise prices for Alberta crude throughout much of 2019. It seemed to be working up and until the Covid demand decrease combined with Saudi production increase.
User avatar
rockdoc123
Expert
Expert
 
Posts: 7685
Joined: Mon 16 May 2005, 03:00:00

Re: THE Fracking Thread pt 4

Unread postby sparky » Sun 19 Jul 2020, 21:52:21

.
it looks like legalities are being overtaken by financialities
With the European glut in natural gas , storage full summer at hand and the covirus messing things some
the world price of LNG has dropped to close of the piped gas price
this means that the liquefaction and transport are dead costs
in an interesting marketing tool Cheniere has an option for buyers to cancel deliveries for a fee
they are now taking it with a vengeance , for the third month in a row
the result is that Cheniere is now making ( a little ) money from not shipping LNG

From Reuters
https://uk.reuters.com/article/us-usa-l ... SKBN23T2GJ
User avatar
sparky
Intermediate Crude
Intermediate Crude
 
Posts: 3587
Joined: Mon 09 Apr 2007, 03:00:00
Location: Sydney , OZ

Re: THE Fracking Thread pt 4

Unread postby dissident » Mon 20 Jul 2020, 15:06:55

sparky wrote:.
it looks like legalities are being overtaken by financialities
With the European glut in natural gas , storage full summer at hand and the covirus messing things some
the world price of LNG has dropped to close of the piped gas price
this means that the liquefaction and transport are dead costs
in an interesting marketing tool Cheniere has an option for buyers to cancel deliveries for a fee
they are now taking it with a vengeance , for the third month in a row
the result is that Cheniere is now making ( a little ) money from not shipping LNG

From Reuters
https://uk.reuters.com/article/us-usa-l ... SKBN23T2GJ


The current prices say zero about the future price. LNG cannot be supplied for cheap since it costs to liquify to the tune of 30% out of a given unit of gas. That is not 3%. So all the current de facto dumping on the European market is a political ploy to con the suckers. After things settle down into a Brave New World, Europeans are going to pay for this magical LNG through every orifice.

The attention span of the average sucker is a few days. Unless reminded by the fake stream media they have no way to recall what happened a year ago. This is why western civilization is crumbling. The easy life rots the brain.
dissident
Expert
Expert
 
Posts: 6458
Joined: Sat 08 Apr 2006, 03:00:00

Re: THE Fracking Thread pt 4

Unread postby sparky » Tue 21 Jul 2020, 04:01:59

.
A bit harsh , but the truth is a cruel thing
User avatar
sparky
Intermediate Crude
Intermediate Crude
 
Posts: 3587
Joined: Mon 09 Apr 2007, 03:00:00
Location: Sydney , OZ

Re: THE Fracking Thread pt 4

Unread postby JuanP » Wed 22 Jul 2020, 09:44:02

"Will US shale ever see another Golden Age?"
https://oilprice.com/Energy/Crude-Oil/W ... n-Age.html
"Human stupidity has no limits" JuanP
JuanP
Heavy Crude
Heavy Crude
 
Posts: 1957
Joined: Sat 16 Aug 2014, 15:06:32

Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Wed 22 Jul 2020, 14:04:13

The above linked oilprice article contains a wealth of information to a discerning observer.
The final 4 paragraphs point the way forward to those wondering what to expect 12/18 months out ... barring the all-too-common cataclysmic upheavals the world seems to be routinely witnessing lately.

Setting aside the "$300 billion in debt, $450 billion in writeoffs" drama we all have been hearing for a decade now, the authoress of that article DOES acknowledge that world leading production from the US has resulted.
Exactly ... but, wait, there's MORE!!

In addition to the tangible assets that include over 100 000 producing wells, millions of productive acres of land held indefinitely, infrastructure to store and economically transport this fuel GLOBALLY (US LTO is THE preferred feedstock for marine fuel LSFO), the biggest asset of all was not even mentioned in that article ... namely the undisputed lock on the technology of production in this world of 'unconventional' hydrocarbon production.
From drilling, completing, data analyzing, marketing ... US operators have amassed an insurmountable (for now) advantage that is ALREADY, demonstrably pushing aside competing sources of hydrocarbons.

If anyone reads/re-reads that above article, notice something missing?
Yes, of course it is the impact of $40/bbl oil on producing nations' economies.
KSA needs ~$83/bbl to pay the 16,000 princes' monthly stipends, the free health care, subsidized housing, fuel, etc that underlies the 'legitimacy' of the House of Saud.
The Al Sabah, Al Thani, et al regimes are in identical positions.
This is why the frenzy to kneecap US 'Shale'.

Allied with friends du jour in the 'environmental movement' and others (check out the indictments in Ohio stemming from nuke plant owner payoffs), you folks who are unable to recognize that US 'shale' operators are ALREADY able to produce oil at the incredible price points of $45/$55 bbl, $2/$2.50 mmbtu, will continue to be dumbfounded, perplexed, and - probably - enraged when the upstream boys come roaring back in the coming months.

Cowboyistan now and foevuh!
coffeeguyzz
Lignite
Lignite
 
Posts: 326
Joined: Mon 27 Oct 2014, 16:09:47

Re: THE Fracking Thread pt 4

Unread postby sparky » Thu 23 Jul 2020, 05:55:26

.
I read the article above as "peak drilling rigs " at least for a few coming years

A point to consider is that "conventional" oil is also hitting the wall with development of a field ever more costly
especially the deep offshore ,
the return on considerable investments will get a few pen pushers to scratch their heads
the oil companies have slashed their Capex budget , Oil is not such a star anymore for investment bankers
the article prediction of a tightening of supply by 2025 ,
leading to a rise in price above fracking costs , looks like a safe prediction
User avatar
sparky
Intermediate Crude
Intermediate Crude
 
Posts: 3587
Joined: Mon 09 Apr 2007, 03:00:00
Location: Sydney , OZ

Re: THE Fracking Thread pt 4

Unread postby coffeeguyzz » Thu 23 Jul 2020, 20:58:33

Sparky
If you have been following this 'oil' drama for several years, surely you must be familiar with the roller coaster, frequently inaccurate predictions from analysts, industry professionals, armchair pundits, and others who have SO much difficulty in attempting to peer into the future.
I never make claims of any sort (despite noticing build ups of market tensions) other than to be assured that - 12 months hence - things will be somewhat different than today.

At the moment, an under appreciated aspect is just how economical much US unconventional development has become.
Absent changes in government/social policies in countries in the Middle East and elsewhere, those governing regimes are apt to face strong (extreme?) pressure from their populations as reduced hydrocarbon revenues stress the status quo.

Destroying the 'shale' industry is akin to whacking a water puddle with a hammer.
Won't work.

If/when WTI gets back to 50 bucks, watch the tempo increase.
With ~8,000 DUCs just sitting there (maybe 6 month turn in line supply), the operators will continue to tread water for a bit.

This is a global game of chicken with the highest of stakes.
The speech today by Secretary Pompeo at the Nixon Library should send shivers up and down the spines of discerning observers worldwide.
Interesting times be a'comin.
coffeeguyzz
Lignite
Lignite
 
Posts: 326
Joined: Mon 27 Oct 2014, 16:09:47

Re: THE Fracking Thread pt 4

Unread postby sparky » Fri 24 Jul 2020, 08:32:24

.
a factor which might matter some , is that the US dollar has the wobbles
oil price being priced as a world commodity ,
this result in domestic producers getting more greenbacks for their production
but I totally agree that all predictions are likely to be failures
User avatar
sparky
Intermediate Crude
Intermediate Crude
 
Posts: 3587
Joined: Mon 09 Apr 2007, 03:00:00
Location: Sydney , OZ

Previous

Return to Energy Technology

Who is online

Users browsing this forum: No registered users and 59 guests