tag:blogger.com,1999:blog-1592992209402300549.post4590885169747470315..comments2024-03-28T08:06:43.198-04:00Comments on The Silicon Graybeard: Two Massive US Oil Finds Have to Shake Up the Long Term SiGraybeardhttp://www.blogger.com/profile/00280583031339062059noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-1592992209402300549.post-77284055097096369152019-01-21T09:19:24.066-05:002019-01-21T09:19:24.066-05:00The article on the Dept. of the Interior site said...The article on the Dept. of the Interior site said, <i>This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources.</i> So it is considered recoverable. (As I understand it, "technically recoverable" means "with existing technology")<br />SiGraybeardhttps://www.blogger.com/profile/00280583031339062059noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-62122144290863840672019-01-21T07:36:38.396-05:002019-01-21T07:36:38.396-05:00My bet is it ain't booked if it ain't reco...My bet is it ain't booked if it ain't recoverable. And actual cost per barrel depends on how mature the extraction and refinement methods are at time of extraction. Further info if you're interested:<br />https://en.wikipedia.org/wiki/Oil_shale_economics<br /><br />But please do understand the Communist politics of Wikipedia and read that through the appropriate filter.Mark Matisnoreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-86051492503422286092019-01-21T02:28:20.110-05:002019-01-21T02:28:20.110-05:00Question is, are they "recoverable" barr...Question is, are they "recoverable" barrels, and at what cost per barrel.Don in Oregonnoreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-62398395768254139112019-01-21T02:25:18.966-05:002019-01-21T02:25:18.966-05:00In other news, hardback books on "Peak Oil&qu...In other news, hardback books on "Peak Oil" are now selling on Amazon for <$1.<br />Right next to Bigfoot tomes.Aesophttps://www.blogger.com/profile/07834464741531503378noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-56078026128245289372019-01-20T23:28:17.105-05:002019-01-20T23:28:17.105-05:00Agree with LL about the critical need to get some ...Agree with LL about the critical need to get some NEW refineries on-line. <br /><br />I don't think there's been a big refinery built in the U.S. since the 1970's.drjimhttps://www.blogger.com/profile/05647484115197408897noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-24046814329380824442019-01-20T23:12:22.192-05:002019-01-20T23:12:22.192-05:00BP announced
[sarcastic voice] Like the executive...<i>BP announced</i><br /><br />[sarcastic voice] Like the executive suites of every big oil company didn't already know since 1970 when computers got useful that the reserves were down there. Like all the US national legislators who cared to wonder didn't already know the Middle Eastern oil wasn't actually important to the US. Meanwhile, there's a 200 year reserve of coal at current usage rates, and Thorium in the coal has 10X the energy, meaning a 2,000 year reserve. [/sarcasm]<br /><br />The population bomb is fiction. Peak oil is fiction. Global warming, requiring less fossil fuel burning as a remediation, is fiction. These are all hoaxes to get you to accept a lower standard of living instead of an exponentially growing one.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-55960887560097361432019-01-20T22:19:18.039-05:002019-01-20T22:19:18.039-05:00All oil is not equal. Light sweet crude is much ea...All oil is not equal. Light sweet crude is much easier to refine than the thick, sulfurous, green goo that comes out of the ground in Venezuela. Likewise the cost of development of a field is not equal. The US needs to build refining infrastructure and it needs to happen before President Trump leaves office. Some of that is underway. <br /><br />The Saudis can out pump everyone because they have the gold standard in oil infrastructure, but the US can match and exceed that if we want to. We certainly have the oil and gas and its less expensive to develop an oil field in Texas and NMexico than it is for BP to develop their ocean floor field. But both can be very profitable for the US, and can work to decrease our deficit if the legislators are willing to curb spending. (good luck with that)LLhttps://www.blogger.com/profile/05538854359365988863noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-60177936360433941152019-01-20T22:17:54.432-05:002019-01-20T22:17:54.432-05:00“I suspect the exact price an oil company can sell...“I suspect the exact price an oil company can sell at depends on the oil field.“<br />Exactly right. The Permian Basin price is reduced because infrastructure is maxed out. Several pipelines are in construction that will help relive this but Permian Basin production tripled over the last ten years. GeoManhttps://www.blogger.com/profile/15052179938496112347noreply@blogger.com