Text 19946, 100 rader
Skriven 2008-08-22 13:13:02 av Lee Lofaso (3:800/432.0)
  Kommentar till text 19930 av Roy Witt (1:397/22)
Ärende: Cheap Pumpable Oil
==========================
Hello Roy,

The subject heading has been changed to more accurately reflect
the issue under discussion.

>RW>Oil is a renewable resource, made by seismic activity.

>WD>Technically that is not even wrong ...

>LL>Cheap pumpable oil is a very finite resource, and definitely
>LL>not renewable.  The iron laws of quantum mechanics prove it.

RW>Being a cajun resident of LA must have a profound affect on the lack of
RW>brain development there. Note the date of publication.

RW>"Odd Reservoir Off Louisiana Prods Oil Experts to Seek a Deeper Meaning

RW>By CHRISTOPHER COOPER
RW>Staff Reporter of THE WALL STREET JOURNAL

RW>APRIL 16, 1999

Very much outdated.

RW>HOUSTON -- Something mysterious is going on at Eugene Island 330.

RW>Production at the oil field, deep in the Gulf of Mexico off the coast of
RW>Louisiana, was supposed to have declined years ago. And for a while, it
RW>behaved like any normal field: Following its 1973 discovery, Eugene Island
RW>330's output peaked at about 15,000 barrels a day. By 1989, production had
RW>slowed to about 4,000 barrels a day.

RW>Then suddenly -- some say almost inexplicably -- Eugene Island's fortunes
RW>reversed. The field, operated by PennzEnergy Co., is now producing 13,000
RW>barrels a day, and probable reserves have rocketed to more than 400
RW>million barrels from 60 million. Stranger still, scientists studying the
RW>field say the crude coming out of the pipe is of a geological age quite
RW>different from the oil that gushed 10 years ago.

That's all very nice, Roy.  Now how much of that cheap pumpable
oil remains to be pumped?  The article was written ten years ago.
Production may have been signicantly increased since then.  Perhaps
tenfold.  In which case, no more cheap pumpable oil remains.  The
fact of the matter is that there is only so much cheap pumpable oil
in the world that can be pumped. Once that supply is gone, it is gone
forever. No matter how many more future discoveries of cheap pumpable
oil may be found, it will never be enough to satisfy the increasing
demands of the world today.  China needs more oil.  India needs more
oil.  Other countries need more oil.  The USA has peaked in its oil
production long ago, around 1970.  Domestic oil production has been
going downhill ever since. And it will continue to go downhill until
the USA has no more cheap pumpable oil to pump.

Where is the USA going to find cheap pumpable oil?  There is not
enough cheap pumpable oil available for domestic production.  That
means the USA is going to have to find cheap pumpable oil elsewhere.
Most of the countries in the world are past their peak production.
Except for a handful of countries in the Middle East.  Which explains
the presence of US troops in Iraq.  What will happen when the House
of Saud falls?  Will we then have US troops stationed in Saudi Arabia?
When Kuwait was invaded by Iraq, we rescued Kuwait.  We still have
US troops in Kuwait.  Not because there is any danger of Iraq invading
Kuwait, but because Kuwait has oil.  Lots of oil.  They have it, we
want it.  And we will take all of what we want.  Of course, once
we have taken all we want, and there is no more cheap pumpable oil
to be taken, we will leave.

The total amount of cheap pumpable oil for domestic production in
the USA is only enough to last three years.  That is if it is limited
to US customers, with none of that oil being exported elsewhere.
And do not even think about building nuclear power plants.  It would
take building one nuclear power plant per week every week until the
year 2050 in order to replace the amount of oil consumed in the USA.
But don't worry.  There will be severe shortages of uranium long
before so many nuclear power plants can be built.  Unless unproven
breeder reactors come on line very soon.

How many days supply of cheap pumpable oil do you think the above
article mentions?  400 million barrels of oil is not much, considering
the amount of oil consumption in the world (and the USA consumes most
of it).  Let's use a conservative figure of 2200 billion barrels of oil
as total world oil reserves. If the world consumes roughly 200 billion
barrels of oil per year, there will be no more cheap pumpable oil by the
year 2019.

How much is 400 million barrels of oil?  It is 0.018% of total
world oil reserves.  A drop in the bucket.  Less than one day's
consumption of total world oil reserves.

RW> R\%/itt

Interesting emoticon.  A drunk with alcohol.

--Lee


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