Re: Conventional Oil Hits New High
Posted: Thu 11 Jun 2015, 07:52:10
Mucho thanks k. Heading out to perf a well at the moment. Will study later.
Exploring Hydrocarbon Depletion
https://peakoil.com/forums/
https://peakoil.com/forums/conventional-crude-oil-production-t69430-140.html
Revi wrote:Fascinating to read your posts Rockman. I feel like this high is another point on the bumpy plateau. It may end up being the peak or it might not, but what really matters is when we fall off the plateau. That's when the consequences really begin. Right now we are limping along as a global society. When the amount coming out of the ground starts to decline at 2 or 3% per year we are going to have real problems.
Subjectivist wrote:Revi wrote:Fascinating to read your posts Rockman. I feel like this high is another point on the bumpy plateau. It may end up being the peak or it might not, but what really matters is when we fall off the plateau. That's when the consequences really begin. Right now we are limping along as a global society. When the amount coming out of the ground starts to decline at 2 or 3% per year we are going to have real problems.
I agree, this might be the all time world record conventional oil production, or it might just be one data point as we frantically try harder and harder. Either way when decline of conventional sets in the tar sands and shale tight oil won't be able to hide that fact for very long. A year, maybe even five years with a drill everywhere ASAP strategy, but if won't last for long with conventional depletion eating away 2-3 percent every year.
Outcast_Searcher wrote:
Except it's not as if oil is the ONLY reliable energy source we have. Both natural gas and green electricity sources are projected to grow significantly through 2040. Now, add to this the unconventional oil sources, and it's not as if conventional production slowly declining (if it does) is a tragedy.
tita wrote:Well, we all know that conventional oil peaked 10 years ago, right?
"...can the unconventionals be scaled up to 50Mb/d ? can it even be scaled to 10 M/b/d ?"
AdamB wrote:Define conventional oil please.
These oil sands resources are called unconventional oil to distinguish them from oil which can be extracted using traditional oil well methods