marko wrote:nth wrote:marko wrote:I suspect that the EROEI would be less than 1. That is, I think that extracting and exporting oil from Antarctica would probably take more energy than it would produce..
Back to energy requirements, EROIE are not being used in the oil industry. I really don't think it will play a role in whether they go drill there or not.
No, but EROIE is a proxy for profitability. The oil companies will not extract and ship oil from Antarctica unless they can make a profit at it. If it ends up taking them 2 barrels of oil (at let's say $150/bbl) to deliver 1 barrel of Antarctica oil to China or some other market, then they have lost $150 dollars on that barrel, in addition to the overhead costs of constructing the well, the pipeline, the port, and the tanker. Oil companies are not in business to lose money, and when EROIE on a given oil field less than one, they will not be interested in that oil field. This is all but certainly the case for Antarctica, or at least the bulk of the continent that is under the ice. The EROIE on a coastal or offshore oil field just might be greater than one.
Hrm... that is exactly my point! If it is economicly not feasible, then they won't do it. Economics is not exactly the same as EROIE. Oil will become more valuable than say Natural Gas or Wood or bad quality charcoal even if in measured by energy yield that can be harnest from the other sources.
As for offshore, they are doing in the Arctic and their costs are under $18, so Antartica offshore is feasible in the future.