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re: Oil and gas folks please explain the whole oil /gas scarcity thing to me
Posted on 4/6/24 at 9:44 pm to dukke v
Posted on 4/6/24 at 9:44 pm to dukke v
quote:
Not sure….. how many years of oil do we have left?????
How much are you willing to pay for gas? That will determine the number of years we have left.
1
Posted on 4/6/24 at 9:45 pm to Mr Breeze
quote:
All the easily accessible oil has been discovered and mostly produced.
Nah. Even in the US there are several places that easily recoverable oil exist. It’s just off limits due to politics and NIMBY folks.
This post was edited on 4/6/24 at 9:51 pm
Posted on 4/6/24 at 9:47 pm to notiger1997
quote:
Even in the US there are several places that easily recoverable oil exist. It’s just off limits due to politics and NYMBY folks.
Cough*California*Cough
Posted on 4/6/24 at 9:47 pm to dukke v
quote:
how many years of oil do we have left?????
1000x longer than you will live.
This post was edited on 4/6/24 at 9:49 pm
Posted on 4/6/24 at 9:55 pm to Tempratt
Oil prices and scarcity is controled just like diamonds. John D Rockefeller pushed scarcity in the late 1800s to drive the price.
Posted on 4/6/24 at 10:06 pm to Penrod
quote:
It’s not renewable in a timeframe that would be useful, so it is considered non-renewable
There is some data to suggest that it is made by some unknown process and that the earth is constantly producing. It’s not just Dino juice as once thought. There are wells that were sucked dry years ago that have refilled reservoirs
Posted on 4/6/24 at 11:06 pm to notiger1997
quote:
Nah. Even in the US there are several places that easily recoverable oil exist. It’s just off limits due to politics and NIMBY folks.
Sixty miles due east of the Florida / Georgia state line on the Blake Plateau is one.
Destin Dome offshore Florida's West Coast is another. Florida has managed to politically avoid offshore drilling to protect their tourism industry.
Virginia offshore had some promise with State and Federal drilling permits approved until BP's Deepwaterv Horizon blowout killed it. Nothing else geophysically promising on the Atlantic Coast; the GoM is 10x more favorable geologically.
Offshore California lol but not much there, offshore Oregon & Washington State geology, nope just rocks no oil, it's been drilled.
Alaska Bering and Chukchi Seas perhaps but have a blowout there in winter and you're not killing it until summer. Fisheries industry would croak.
On U.S. Federal land, Alaska's vast ANWR requires a very tiny footprint for safe and significant production and pipeline transport. That's where I'd go if ever approved.
Posted on 4/6/24 at 11:08 pm to Tempratt
We banned oil from Russia. They were a major contributor to the global market.
Ask your president.
Ask your president.
Posted on 4/7/24 at 11:02 am to Tempratt
OffshoreTechnologyFocus "In fact, the success rate for wildcat drilling is around 30%, with only one in three wells likely to make money, says Graeme Bagley, head of global exploration and appraisal at Westwood Global Energy" jan 29, 2020
Westwood Global Energy "The commercial success rate from high impact drilling in maturing/mature plays decreased from 36% in 2021 to 30% in 2022, with failed attempts to extend the pre-salt play in the Santos and Campos basins, failures in the South Caspian, and no success from the four high impact wells drilled in NW Europe." Jan 12, 2023
Energy Institute "The success rate of global conventional oil and gas exploration has declined in recent years, but the most painful blow has been to onshore wildcat wells, according to recent analysis from Rystad Energy. In 2020, the success rate of these drilled wildcats plummeted to an all-time-low of 10.6%, marking an annual decline for a fourth year in a row." 5-3-2021
Westwood Global Energy "The commercial success rate from high impact drilling in maturing/mature plays decreased from 36% in 2021 to 30% in 2022, with failed attempts to extend the pre-salt play in the Santos and Campos basins, failures in the South Caspian, and no success from the four high impact wells drilled in NW Europe." Jan 12, 2023
Energy Institute "The success rate of global conventional oil and gas exploration has declined in recent years, but the most painful blow has been to onshore wildcat wells, according to recent analysis from Rystad Energy. In 2020, the success rate of these drilled wildcats plummeted to an all-time-low of 10.6%, marking an annual decline for a fourth year in a row." 5-3-2021
This post was edited on 4/7/24 at 11:03 am
Posted on 4/7/24 at 11:19 am to Spankum
quote:
In the US we have so much, that we are exporting it to Europe and the Middle East
In part because it cannot be transported by pipeline to many parts of the Northeast.
Posted on 4/7/24 at 11:29 am to Tempratt
Somebody explain to me why natural gas never took off as a means to power our national automobile consumption?
Posted on 4/7/24 at 11:43 am to Tempratt
Doesn't matter. We gonna be all electric by 2030 according to Joe and the Hoe.
Posted on 4/7/24 at 11:55 am to Hooligan's Ghost
quote:
more below the depths that have already been drilled
As far as usable liquid hydrocarbons, you don't find more drilling deeper. The Earth's temperature gets too high and alters the oil... think asphalt... too long in a hot oven.
There are some theoretical reasons to expect hydrogen and methane in ultra-deep holes, but that is very hard/drilling.
Posted on 4/7/24 at 1:32 pm to tiger2180
quote:
Similar to water?
Water is recyclable. We don’t do much of it because it’s expensive and usually smells bad.
Posted on 4/7/24 at 3:35 pm to udtiger
quote:
In part because it cannot be transported by pipeline to many parts of the Northeast.
True that are a shortage of gas pipelines to the northeast. However, they get a lot of their energy from fuel oil which is also transported bu pipeline.
Posted on 4/7/24 at 4:16 pm to Oilfieldbiology
Don’t forget Florida.
Posted on 4/7/24 at 4:17 pm to Spankum
quote:
True that are a shortage of gas pipelines to the northeast. However, they get a lot of their energy from fuel oil which is also transported bu pipeline
1) NatGas is cheaper and cleaner
2) Fuel oil moves to distribution centers but is truck delivered to homes/buildings/businesses and is much more expensive.
Posted on 4/7/24 at 4:20 pm to Pandy Fackler
quote:
Somebody explain to me why natural gas never took off as a means to power our national automobile
Does anyone else remember when GWB suggested Hydrogen powered cars, and he essentially got laughed off the stage?
Posted on 4/7/24 at 4:27 pm to Tempratt
quote:
I’m no petroleum engineer but it seems unlikely to run out.
Because of reasons…?
Posted on 4/7/24 at 4:32 pm to DavidTheGnome
quote:
Because of reasons…
I wonder if the biologic process that converted organic matter into oil somehow ceased. Black holes don't eat matter anymore either, because reasons? F man.
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