|March 18th, 2017, 10:27 AM||#31|
Join Date: Apr 2013
Location: LA LA Land North
When the crude prices were $100+ I worked on a heavy oil exploitation plan for Saudi. But the prices dropped before the initial planning was done, let alone the detailed engineering began and we thus far have never gotten those prices again.
That is true of Venezuela also, but in their case they started running out of light crude so just started exploiting their heavy oil. Then Chavez nationalized and became more and more intrusive, virtually destroying their technical capabilities.
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|March 19th, 2017, 12:09 PM||#32|
forgot my old user name
Join Date: Dec 2016
I discovered the Oil Drum at the time I was looking for real and relevant information about the BPGulf Blowout, that wasn't coming through mainstream sources. The Oil Drum was just a small group blog made up mostly of engineers and technicians in the oil industry talking about problems and future problems as oil exploration and development was having to go deeper underground and even underwater to maintain supplies for growing demand for oil.
Over time, the Oil Drum started getting discovered by thousands and even millions of online searchers, driving up their hits/but also their bandwidth costs! The contributors were mostly working or recently retired, but did not want to go into online marketing etc., so they never considered developing revenue streams and such for their blog; and a couple of years after the Gulf disaster, they were still having more visitors than expected, so they decided to slowly close it down, and contributors who joined them and wanted to continue on announced separate blogs or groups they were joining to pursue their activities.
One of them, an insurance actuary named Gail Tverberg started the Finite World blog to pursue the topics that drew her into the discussion: peak resource capabilities, environmental costs etc.. In one of her Oil Drum posts before the closure, she was starting to make a point about "peak oil" that most did not expect or forecast at the time: the collapse of high oil prices would become a permanent impairment/ not a temporary setback for tight oil developers, as capitalism would keep trying to grow and demand more product/but global capitalism would seize up each time, and prices would fall each time as recession replaced the boom.
Gail's main message was: of the essential non-renewable resources needed by modern industrial capitalist economies, cheap energy supplies are the most crucial! Without cheap energy, economic growth stalls out, and can no longer provide 2%, let alone 3% annual growth to keep our debt-fueled economies functioning!
What happens when energy resources deplete?
Posted by Gail the Actuary on June 19, 2010 - 10:12am
The Oil Drum | What happens when energy resources deplete?
So, after all that, Gail's and other peak resource writers' message is: the future is a world where there may be lots of oil and petroleum supplies/but their too costly for those who need them to continue to pay the price! Same goes for Saudi's heavy oil as it does for Alberta's tarsands, Venezuela's tarsands, the deep ocean oilfield off the coast of Brazil, and North Dakota's shale developments: energy return on energy invested is going to price carbon fuels out of business. Even now, one of the main reason why there are some speculators predicting oil will rise in price, is because so many tight oil developments have been shelved or drastically scaled back and take years and billions of dollars to see them through.
The problem for some of the peak oil/resource people who were focused on climate change and other environmental hazards, as we are now witnessing, is as supplies have dwindled, economies do not just shift over to cleaner, renewable sources of energy like could be expected in a perfect world case! Instead, the trend is for bar of environmental standards to keep being lowered so unconventional, dirty carbon-based energy supplies can continue development...even as it gets more and more expensive to do so!
This is usually how empires die and go out: not with a bang, but a whimper! For the Roman Empire, the problem wasn't invasions or even new virulent diseases/instead it was being rigid and unable to change their ways of doing things. That didn't happen until the total collapse of the dark ages ended Rome and the old system, and had to build a new system that was capable of functioning under the new, imposed constraints left after mines were exhausted and food-growing regions depleted.
The problem today with collapse, is that it will not stop the continued dangerous carbonizing of the atmosphere that will go on for several more centuries after we're gone. It would be easier if modern, global industrial capitalism could be brought to a close, but there are too few people even aware of the predicament/let alone trying to come up with ways to circumvent it and prevent destruction.
|March 19th, 2017, 12:30 PM||#33|
Join Date: Dec 2012
In this matter I support Canada. They can have them all. In fact, we've got between 11 and 20 million illegal alien parasites we could send them to jumpstart their bleeding-heart program.
|March 19th, 2017, 12:35 PM||#34|
Join Date: Dec 2013
|March 19th, 2017, 03:40 PM||#35|
Join Date: Oct 2010
Location: Western Slope, Colorado
A big thank you to RTL and RNG for an interesting, informative and civil discussion. DTT could use a lot more of it. Thanks again.
|1000%, canada, correct, trump|
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