Oil peaked in 2006. Production will fall 7% a year study finds.

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Comments

  • South of Seattle
    South of Seattle West Seattle Posts: 10,724
    Drowned Out wrote:
    nah, just a typical midsize kid-hauler :(....I am getting a more efficient vehicle next month tho.

    1 gallon [US, liquid] = 3.785 litres
    60L = about 16 gallons.

    Ouch 16 gallons for $100

    Maybe I don't want to live in BC after all :)

    my $45 is for about 13 to 14 gallons. In my little Sedan.
    NERDS!
  • Drowned Out
    Drowned Out Posts: 6,056
    South of Seattle wrote:
    Ouch 16 gallons for $100

    Maybe I don't want to live in BC after all :)

    my $45 is for about 13 to 14 gallons. In my little Sedan.

    sorry, the $100+ was in a vehicle with a 100L tank...but it did get significantly over $100...up to like $115...I've paid up to $70 for this tank.
  • jlew24asu
    jlew24asu Posts: 10,118
    MrSmith wrote:
    well the rumor is that Saudi Arabia has fucked up its largest oil field by drilling it wrong and now couldnt increase demand if it wanted to.

    we're running out.

    seriously, true story?


    but even if they "drilled it wrong" cant they just re-drill it right?
  • DriftingByTheStorm
    DriftingByTheStorm Posts: 8,684
    even flow? wrote:
    Not to knock this read but haven't we been hearing the end of peak oil for at least 20 years or so.

    The United States DID reach peak oil in 1970 ... the EXACT year Dr. Hubbert predicted we would hit the 50% mark (peak oil).

    The only reason the people were fooled (or "tricked") was because when we hit peak oil (for DOMESTIC production -- the oil under OUR land), we were at odds with the OPEC regime and therefore Americans actually FELT that peak.

    In otherwords, since we weren't getting much foreign oil, and our oil production was no longer going UP, we felt the peak oil.

    BUT THEN 2 years later, Alaska came on line ... that doesn't mean there was suddenly more oil under us, it just ment we stuck another straw into the half empty soda can ...

    the fact that we found "another straw" to suck from (and the resuming of trade with OPEC) made Americans totaly forget that we had indeed hit the 50% mark on our oil soda can ...

    but the world will soon wake up again!

    :(
    If I was to smile and I held out my hand
    If I opened it now would you not understand?
  • LikeAnOpeningBandForTheSun
    LikeAnOpeningBandForTheSun Posts: 6,097
    jlew24asu wrote:
    seriously, true story?


    but even if they "drilled it wrong" cant they just re-drill it right?

    probably not in a cost effective way if its true

    from wiki (http://en.wikipedia.org/wiki/Oil_reserves):
    The challenge is that the Ghawar field (Saudi Arabia), found in 1948, has produced about half its total reserves, and is starting to run into production problems — notably, there are rumors that it is now producing more water than oil.

    In addition to his belief that the Saudi fields have hit their peak, Simmons also argues that the Saudis may have irretrievably damaged their large oil fields by overpumping salt water into the fields in an effort to maintain the fields' pressure and thus make the oil easier to extract. Simmons interpretation of normal oilfield practice into a future crisis has been refuted by reservoir engineers at CERI.

    My dad was a driller on an oil rig for about 25 years and tried to explain the whole drilling thing to me, but its way over my head (a lot of chemistry and pressure stuff). I do know its not as easy as just sticking a pipe in there and sucking out the oil. You have to pump stuff back into it to maintain pressure.

    thought this was interesting too.
    Since 1982 the Saudis have withheld their well data and any detailed data on their reserves, giving outside experts no way to verify the overall size of Saudi reserves and output. However, experts question the Saudi claim that recent declines in production are due to lack of demand (which no other producer has experienced), and pointed to the fact that the number of drilling rigs in Saudi Arabia has tripled with no comparable increase in production as similar to what happened in Texas when US production peaked and started to decline in the 1970s. This could mean that many Saudi oil wells have peaked and have begun the decline toward the end of their economic usefulness.

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