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re: Oil and gas folks please explain the whole oil /gas scarcity thing to me
Posted on 4/8/24 at 9:57 am to lostinbr
Posted on 4/8/24 at 9:57 am to lostinbr
quote:
decline to the point where it’s no longer economically viable to further increase production.
You only have to look at the history of coal to foresee the future of petroleum. There remains massive coal reserves, but its use declined massively when liquid fuels better met the needs of transportation.
There are also parallels in the extractive industries impact on Earth science. Modern geology was developed to understand coal formation and better exploit resources. Oil geology has similarly contributed greatly to the understanding of Earth history and structure.
Today there is scant demand for coal geologists. Unfortunately, the demand for petroleum geologists was already waning 40 years ago. Even though demand for oil continues to increase, new geological knowledge becomes less necessray. What's happened to the famous in-house research programs of Shell, Exxon, BP, etc.?
1
Posted on 4/8/24 at 10:10 am to Tree_Fall
quote:
What's happened to the famous in-house research programs of Shell, Exxon, BP, etc.?
They work for PE.
There are groups you have never heard of doing ridiculously sophisticated analyses.
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