Peak Oil is Here - Page 3

Anders Lindman · 29-10-2007, 11:42 AM

Quote:

Originally Posted by utukxul

peak oil or not. this thing even if its fake will affect us even if we dont want it.

Yeah, although I have great faith that it will turn out good eventually. It could be that we are at the end of the oil age and that there will be rapid changes happening in the next few years.

niftygifter · 29-10-2007, 03:29 PM

The lies about oil continue.
The price stays high ;-)

http://www.lwoil.com/

Apparently enough in the alaskan pipeline alone to supply America for 200 years.

Nifty

Anders Lindman · 29-10-2007, 05:15 PM

Quote:

Originally Posted by niftygifter

The lies about oil continue.
The price stays high ;-)

http://www.lwoil.com/

Apparently enough in the alaskan pipeline alone to supply America for 200 years.

Nifty

Yes, I watched a video about that. Didn't sound convincing though. U.S. oil production peaked in the 70s. I don't see how they could have kept their fingers away from that jam jar for so long if it was real.

veritas2007 · 29-10-2007, 07:07 PM

I've worked in oil exploration for the last 13 years and right now there is a boom in exploration. An unprecedented 57 new or converted vessels will be delivered in 2007 (my company is responsible for 7 of them).

In the last 24 months we've surveyed offshore in the following areas (in no particular order):

West Africa (Sierra Leone, Congo, Senegal, Angola (Cabinda), Guinea)
Gulf of Mexico (Louisiana, Missisippi)
Iran
Norway
Libiya
India (Paradip and Mumbai)
Falklands
Brazil (Amazon basin and Espiritu Santo)

We have vessels on their way to Australia.

The oil companys are throwing millions into exploration right now in every concievable part of the world (granted though, that some of the exploration is of existing fields as technology has developed).

I'd say that this is a very good indication that peak oil is a reality.

Anders Lindman · 29-10-2007, 07:21 PM

Quote:

Originally Posted by veritas2007

I've worked in oil exploration for the last 13 years and right now there is a boom in exploration. An unprecedented 57 new or converted vessels will be delivered in 2007 (my company is responsible for 7 of them).

In the last 24 months we've surveyed offshore in the following areas (in no particular order):

West Africa (Sierra Leone, Congo, Senegal, Angola (Cabinda), Guinea)
Gulf of Mexico (Louisiana, Missisippi)
Iran
Norway
Libiya
India (Paradip and Mumbai)
Falklands
Brazil (Amazon basin and Espiritu Santo)

We have vessels on their way to Australia.

The oil companys are throwing millions into exploration right now in every concievable part of the world (granted though, that some of the exploration is of existing fields as technology has developed).

I'd say that this is a very good indication that peak oil is a reality.

Interesting information. So oil companies are now frantically looking for more oil fields. I saw a graph that showed that oil discoveries peaked some 40 years ago. The only fields they find now are very small, and most of the big ones are very old, and as I suspect, very depleted.

veritas2007 · 29-10-2007, 07:39 PM

A few years ago in Gulf of Mexico, they found reserves deeper than they had been originally drilling which led to increased activity in the area.

I worked for a company in the '90s that surveyed Falklands but nothing really came of it. The company I work for now revisited it because technology had moved on but I don't think the oil companies have deemed the area viable yet.

Some areas seem to have large resources, some pan out to nothing but they're definately looking for it. The oil industry is cyclic and exploration peeks every 5-7 years. This current peak seems to be holding longer than usual but I dare say the ridiculous price of oil has something to do with it.

If I hear any more info, I'll post it up.

Personally, I'm all for free energy and I've been watching the SEG progress with great interest

Anders Lindman · 29-10-2007, 07:48 PM

Quote:

Originally Posted by veritas2007

If I hear any more info, I'll post it up.

Thanks. It's important to know about oil if one is to have some understanding of the world today. Our modern society is more or less created out of oil.

Anders Lindman · 31-10-2007, 08:04 PM

"Stockpiles dropped 3.89 million barrels to 312.7 million barrels last week, the department said. It was the lowest since October 2005. A 400,000 barrel gain was expected, according to a Bloomberg News survey. Supplies at Cushing, Oklahoma, the delivery point for New York futures, fell 17 percent."

http://www.bloomberg.com/apps/news?p...yeA&refer=home

They go on to say in the article that: "There is no reason I can think of for a refiner to buy a single barrel to put a barrel in inventories", quoting an expert.

That could be a valid point. But what if the real reason for smaller oil stockpiles is that there isn't enough oil exported to fill the demands?

Anders Lindman · 01-11-2007, 05:57 AM

"Saudi Arabian oil reserves may be dwindling and the impact will adversely affect the world's economy, according the Web site of oil-industry analyst Matthew Simmons, who is speaking at UK tonight."

From: http://media.www.kykernel.com/media/...-3071006.shtml

Compare with one of my previous posts:

Quote:

"Attention at those meetings will focus on Saudi Arabia, which takes the lead role in the cartel's decisions because it is the group's largest producer and the only member with major excess production capacity."

From: http://online.wsj.com/article/SB1193...googlenews_wsj

In your dreams Mr. Neil King Jr. from The Wall Street Journal. Saudi Arabia has already peaked in oil production a looong time ago. Excess production capacity my ass.

So here we have that Saudi Arabia is the ONLY member with excess production capacity according to The Wall Street Journal. But according to Matthew Simmons even Saudi Arabia's oil reserves may be dwindling. And so if that is true then oil in THE ENTIRE WORLD is dwindling!!!!!!!!!!!!!!!!!

Anders Lindman · 01-11-2007, 07:05 AM

Check out the below chart. Notice the production plateau starting around 2005. Does anyone seriously believe that the demand for oil has reached a natural plateau? Not likely, with China having an economic growth rate of 17% per year. China's demand for oil is bigger than ever. This means that the plateau is because the global production of oil has peaked. It may have peaked because some conspiracy keeping the production down on purpose, but to me that seems extremely far-fetched. More likely, the plateau is caused by the world's actual oil reserves - taken as a total - have started to become depleted.

Another interesting graph is the one below. Notice the stepwise increase in Saudi Arabia's 'proven' reserves. Does that look natural to you? And does the flat curve after the increase look natural? Are we supposed to believe that Saudi Arabia's proven reserves remain at the same level no matter how much oil they produce from those reserves??? Please!

http://graphoilogy.blogspot.com/2007...rt-of-day.html

Anders Lindman · 02-11-2007, 08:37 AM

"Oil producers, including the Organization of Petroleum Exporting Countries [OPEC], are powerless to stop prices from reaching $100 as few countries can produce more crude, Oman's energy minister said yesterday.

Oman's Mohammed bin Hamad al-Rumhy said he didn't know of one oil-producing country that isn't at maximum output."

From: http://www.bloomberg.com/apps/news?p...voo&refer=asia

Anders Lindman · 02-11-2007, 06:28 PM

"Refinery problems also contributed to Friday's gains. Operations at a 172,000 barrel-per-day Petroplus Holdings AG refinery in England are expected to be limited for a month due to a fire earlier this week. And Chevron Corp. said Friday its 330,000 barrel-per-day refinery in Pascagoula, Miss., will run at reduced rates until early next year due to an August fire."

From: http://news.yahoo.com/s/ap/20071102/...oil_prices_144

It would be interesting to know how common fires are in refineries. If fires are rare events in the oil refinery industry, then this news about fires is highly suspicious. Could it be that the fires were fabricated in order to hide the truth that they have not enough oil to refine?

Anders Lindman · 03-11-2007, 09:41 PM

"Net income at Chevron's flagship business of producing and selling oil and natural gas fell 2% to $3.4 billion. Worldwide production was the equivalent of 2.6 million barrels a day of oil, a 4% decline attributed in part to revised operating terms in Venezuela."

From: http://www.latimes.com/business/inve...usiness-invest

Now, this is interesting. The article starts with:

"Anyone who filled a gas tank this summer might be surprised by what Chevron Corp. reported Friday: For the first time in years, Chevron lost money making and selling fuel in the U.S.

A decline in pump prices was partly to blame for the company's 26% drop in third-quarter profit, which was bigger than Wall Street had expected. Still, the average price in California was above $3 for a gallon of self-serve regular gasoline during nearly half of the quarter."

So the markets were surprised by Chevron's lower profit in producing and selling fuel. But the big surprise to me is the first quote about Chevron's flagship business which is producing and selling oil and natural gas. With the high oil price, shouldn't that mean that Chevron is able to get much more money for the oil they produce?

Mustn't that mean that the reason for the lower profit in Chevron's flagship business is because they have not been able to produce enough oil and natural gas? Producing oil is one thing, and refining oil to make fuel etc is an entirely other thing. Producing oil depends on oil wells. Are the oil wells running out?

29-10-2007, 03:29 PM	#42
niftygifter Senior Member Join Date: Jun 2007 Posts: 1,064	Oil shortage bullshit The lies about oil continue. The price stays high ;-) http://www.lwoil.com/ Apparently enough in the alaskan pipeline alone to supply America for 200 years. Nifty

29-10-2007, 07:07 PM	#44
veritas2007 Senior Member Join Date: Sep 2007 Location: Kent Posts: 259	I've worked in oil exploration for the last 13 years and right now there is a boom in exploration. An unprecedented 57 new or converted vessels will be delivered in 2007 (my company is responsible for 7 of them). In the last 24 months we've surveyed offshore in the following areas (in no particular order): West Africa (Sierra Leone, Congo, Senegal, Angola (Cabinda), Guinea) Gulf of Mexico (Louisiana, Missisippi) Iran Norway Libiya India (Paradip and Mumbai) Falklands Brazil (Amazon basin and Espiritu Santo) We have vessels on their way to Australia. The oil companys are throwing millions into exploration right now in every concievable part of the world (granted though, that some of the exploration is of existing fields as technology has developed). I'd say that this is a very good indication that peak oil is a reality. __________________ "In complete darkness, we are all the same, It is only our knowledge and wisdom that separates us, Don't let you eyes decieve you"

29-10-2007, 07:39 PM	#46
veritas2007 Senior Member Join Date: Sep 2007 Location: Kent Posts: 259	A few years ago in Gulf of Mexico, they found reserves deeper than they had been originally drilling which led to increased activity in the area. I worked for a company in the '90s that surveyed Falklands but nothing really came of it. The company I work for now revisited it because technology had moved on but I don't think the oil companies have deemed the area viable yet. Some areas seem to have large resources, some pan out to nothing but they're definately looking for it. The oil industry is cyclic and exploration peeks every 5-7 years. This current peak seems to be holding longer than usual but I dare say the ridiculous price of oil has something to do with it. If I hear any more info, I'll post it up. Personally, I'm all for free energy and I've been watching the SEG progress with great interest __________________ "In complete darkness, we are all the same, It is only our knowledge and wisdom that separates us, Don't let you eyes decieve you"

31-10-2007, 08:04 PM	#48
Anders Lindman Senior Member Join Date: Jan 2007 Posts: 17,833	"Stockpiles dropped 3.89 million barrels to 312.7 million barrels last week, the department said. It was the lowest since October 2005. A 400,000 barrel gain was expected, according to a Bloomberg News survey. Supplies at Cushing, Oklahoma, the delivery point for New York futures, fell 17 percent." http://www.bloomberg.com/apps/news?p...yeA&refer=home They go on to say in the article that: "There is no reason I can think of for a refiner to buy a single barrel to put a barrel in inventories", quoting an expert. That could be a valid point. But what if the real reason for smaller oil stockpiles is that there isn't enough oil exported to fill the demands?

01-11-2007, 07:05 AM	#50
Anders Lindman Senior Member Join Date: Jan 2007 Posts: 17,833	Check out the below chart. Notice the production plateau starting around 2005. Does anyone seriously believe that the demand for oil has reached a natural plateau? Not likely, with China having an economic growth rate of 17% per year. China's demand for oil is bigger than ever. This means that the plateau is because the global production of oil has peaked. It may have peaked because some conspiracy keeping the production down on purpose, but to me that seems extremely far-fetched. More likely, the plateau is caused by the world's actual oil reserves - taken as a total - have started to become depleted. Another interesting graph is the one below. Notice the stepwise increase in Saudi Arabia's 'proven' reserves. Does that look natural to you? And does the flat curve after the increase look natural? Are we supposed to believe that Saudi Arabia's proven reserves remain at the same level no matter how much oil they produce from those reserves??? Please! http://graphoilogy.blogspot.com/2007...rt-of-day.html

02-11-2007, 08:37 AM	#51
Anders Lindman Senior Member Join Date: Jan 2007 Posts: 17,833	"Oil producers, including the Organization of Petroleum Exporting Countries [OPEC], are powerless to stop prices from reaching $100 as few countries can produce more crude, Oman's energy minister said yesterday. Oman's Mohammed bin Hamad al-Rumhy said he didn't know of one oil-producing country that isn't at maximum output." From: http://www.bloomberg.com/apps/news?p...voo&refer=asia

02-11-2007, 06:28 PM	#52
Anders Lindman Senior Member Join Date: Jan 2007 Posts: 17,833	"Refinery problems also contributed to Friday's gains. Operations at a 172,000 barrel-per-day Petroplus Holdings AG refinery in England are expected to be limited for a month due to a fire earlier this week. And Chevron Corp. said Friday its 330,000 barrel-per-day refinery in Pascagoula, Miss., will run at reduced rates until early next year due to an August fire." From: http://news.yahoo.com/s/ap/20071102/...oil_prices_144 It would be interesting to know how common fires are in refineries. If fires are rare events in the oil refinery industry, then this news about fires is highly suspicious. Could it be that the fires were fabricated in order to hide the truth that they have not enough oil to refine?

03-11-2007, 09:41 PM	#53
Anders Lindman Senior Member Join Date: Jan 2007 Posts: 17,833	"Net income at Chevron's flagship business of producing and selling oil and natural gas fell 2% to $3.4 billion. Worldwide production was the equivalent of 2.6 million barrels a day of oil, a 4% decline attributed in part to revised operating terms in Venezuela." From: http://www.latimes.com/business/inve...usiness-invest Now, this is interesting. The article starts with: "Anyone who filled a gas tank this summer might be surprised by what Chevron Corp. reported Friday: For the first time in years, Chevron lost money making and selling fuel in the U.S. A decline in pump prices was partly to blame for the company's 26% drop in third-quarter profit, which was bigger than Wall Street had expected. Still, the average price in California was above $3 for a gallon of self-serve regular gasoline during nearly half of the quarter." So the markets were surprised by Chevron's lower profit in producing and selling fuel. But the big surprise to me is the first quote about Chevron's flagship business which is producing and selling oil and natural gas. With the high oil price, shouldn't that mean that Chevron is able to get much more money for the oil they produce? Mustn't that mean that the reason for the lower profit in Chevron's flagship business is because they have not been able to produce enough oil and natural gas? Producing oil is one thing, and refining oil to make fuel etc is an entirely other thing. Producing oil depends on oil wells. Are the oil wells running out?