Oil Reserves in the U.S. Upped

At least we drew OIS and BR to the same thread, so they are not going to spread unscience in the rest of Sciforums. I don't know what's harder trying to explain to these guys simple things or debating religious people...

OilIsMastery said:
OK now I have a few questions.
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No shit, shot...

How do you explain the facts that global reserves are the highest in world history,
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Very simple, let's start with a fairy tale. Once upon a time in Pennsylvania...

...anyway, in short, obviously 150 years ago there were lots of reserves that they didn't know about. As the world kept using oil, they needed to keep discovering newer and newer reserves, which they did. But the new discoveries were smaller and smaller and they were in harder to reach places and worse quality oil. The end....
 
From the graphs it easy to see the oil production has loss it growth rate seen in the decade before, now oil has a far more marginal or level out growth rate, yet demand has continue going up causing todays record breaking prices. I think it would be best to simply see what happens, will oil production go back to matching demand, will continue to level off or grow at marginal rates, or will it fall off.
 
OilIsMastery said:
Want to debate?
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With you? Seriously, no. You are a worse version of BR, using pretty much exactly the same and stupid arguments. Debate is unnecessery after your president, the OPEC and a few oil executives ALL acknowledged the fact of peak oil.

CASE FUCKING CLOSED!

And yes, I am very openminded, although I don't believe one can convince religious people or peak oil deniers....
 
Syzygys said:
obviously 150 years ago there were lots of reserves that they didn't know about.
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Amazing how that works. Guess what? 150 years from now people will be saying the exact same thing.

As the world kept using oil, they needed to keep discovering newer and newer reserves, which they did.
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Amazing how that works isn't it?

But the new discoveries were smaller and smaller
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What planet do you live on? The discoveries keep getting bigger and bigger.

http://peakoildebunked.blogspot.com/2006/03/263-are-largest-fields-discovered.html

if the largest fields are discovered first, why did it take roughly 90 years after oil drilling began to find Ghawar (the world's largest field)? Similarly, Iran recently discovered 2 super-giant oil fields: Azadegan (2001) and Ferdows/Mound/Zagheh (2003). Azadegan was the largest field discovered in Iran in 30 years, and Ferdows is even larger. Oil exploration in Iran began in 1901. So why did it take 100 years to find these large fields if large fields are discovered first? Similarly, Kazakhstan discovered the gigantic Kashagan field (the country's largest field) in 2000, even though oil exploration in the area began prior to WWII. Prudhoe Bay, the largest field in the U.S., was discovered in 1968, even though Colonel Drake drilled the first U.S. well in 1859. Why did it take the U.S. 109 years to find its largest field? Norway recently discovered gargantuan coal deposits in the North Sea holding 3 times more coal than all the previously known coal resources in the rest of the earth's crust. It was the biggest coal discovery ever, and it happened more than 500 years after people began mining coal. That would seem to be a case of the largest deposit being found LAST.
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and they were in harder to reach places and worse quality oil. The end....
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Let me guess: Matt Simmons taught you that LOL.
 
OilIsMastery said:
http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html

http://www.eia.doe.gov/ipm/
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According to your source it says 85.9 with 85.7 being the 2 month average. It also says monthly data is often preliminary, and they give a source for historical values:
http://www.eia.doe.gov/emeu/ipsr/t44.xls

2006 average: 84.598
2007 average: 84.594

The Oil Drum.com is using the same source anyway, the EIA. The only rise was in Natural Gas Plant Liquids, whatever that is.


A second and equally serious issue lies in the energy density of the new liquids being produced. In energy terms, 1 barrel of ethanol or a barrel of liquefied natural gas is not the same as a barrel of crude oil. The latter contains significantly more energy. Hence measuring energy production by the volumes produced (barrels) is misleading and presents an over-optimistic picture.

In summary, the picture of rising liquids volume production up top is deceptive. With the passage of time the energy content of those liquids is falling steadily and the amount of energy used to produce them is rising. This means less energy for society to use at a higher cost.​
 
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Ah, they don't include 2008, since by the EIA's own admission, current numbers may be preliminary estimates.
 
The February 2008 number isn't current or an estimate. It's the past and it's the actual production number which is why it was included.
 
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OilIsMastery said:
The February 2008 number isn't current or an estimate. It's the past and it's the actual production number which is why it was included.
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More good news in the E&P................

The Kitchen's are open for exploration...........

and

White Rose O-28 delineation well in its White Rose field offshore Newfoundland . The well found a 919-ft (280-m) oil column with a multi-layered reservoir in the Ben Nevis Avalon. Husky is drilling a sidetrack to evaluate the reservoir, but 3-D seismic and results from the O-28 well indicate a potential 40 million to 90 million bbl of recoverable oil in addition to the 240 million bbl already proved at White Rose. The company plans further delineation drilling in coming years. Meanwhile, it will tie its latest discovery back to the SeaRose floating production, storage and offloading vessel that serves White Rose field. The field currently produces 85,000 b/d of oil from four wells. A fifth well being completed now will raise production to approximately 110,000 b/d of oil. A sixth well, due on line near the end of this year, will boost production to 125,000 b/d.
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This is all entirely expected given the high demand and high price of oil. It doesn't change the game in any significant way.
 
spidergoat said:
This is all entirely expected given the high demand and high price of oil. It doesn't change the game in any significant way.
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I'm glade you consider it only a game, that is the problem with far to many liberals, they consider everything a game, and the game is crooked.

The fact is that a new source of oil is open to exploration.

80 % of the Federal Lands are not open to exploration or drilling, even though there is evidence that there is large amounts of oil to be found.

The really sad thing is it is congress who through their short sighted energy policies that has put us in this situation.

It isn't that they don't know about these sources, or that they haven't done any thing about them, it is that they consciously vote to not even explore those resources, and utilize them.

Congress, refuses to let energy flow into the market, and is strangling the economy with their short sighted view, as engendered by the radical environmentalist, and enforced by the Left in Congress, with the help of RHINO's in the Republican Party.
 
Oil is going to peak yesterday.

Oil is peaking, five years from now.

Woops! :eek:
Oil jussst peaked a minute ago.

No. It's going to peak tomorrow. Honest.

No. It's going to peak 2010. Really, I swear...

Why else would oil be up several hundred percent in 5 years? It's obviously peaking now. I mean, it's the ANTICIPATION for the peak. We knew this was gonna happen. You oil-addicts are just sooo spoiled. Now you get what you deserve. Heee heee. I hope the whole world bleeds.

Sorry. Just had to do that.

Don't know much about this topic, but I don't exactly believe that oil is suddenly sooo extremely scarce in roughly half a decade. Sounds like a tall tale. Actually, sounds extremely contrived.

Happy hunger,

T.H.R.U.S.H.
 
Buffalo Roam said:
I'm glade you consider it only a game, that is the problem with far to many liberals, they consider everything a game, and the game is crooked.

The fact is that a new source of oil is open to exploration.

80 % of the Federal Lands are not open to exploration or drilling, even though there is evidence that there is large amounts of oil to be found.

The really sad thing is it is congress who through their short sighted energy policies that has put us in this situation.

It isn't that they don't know about these sources, or that they haven't done any thing about them, it is that they consciously vote to not even explore those resources, and utilize them.

Congress, refuses to let energy flow into the market, and is strangling the economy with their short sighted view, as engendered by the radical environmentalist, and enforced by the Left in Congress, with the help of RHINO's in the Republican Party.
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The liberals have only been in power in the Congress for two years. What are we going to do when those expensive sources also deplete? You cornucopians don't have any foresight. What are you going to tell your children when we have raped all federal lands for some temporary gain?
 
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