Filed under: Uncategorized | Tags: Econbrowser, James Hamilton, luck, oil production, peak oil, production, technology, the Cult of Technology
What if our technology had more to do with luck than our luck had to do with technology?
My view is that with these new fields and new technology, we’ll see further increases in U.S. and world production of oil for the next several years. But, unlike many other economists, I do not expect that to continue for much beyond the next decade. We like to think that the reason we enjoy our high standard of living is because we have been so clever at figuring out how to use the world’s available resources. But we should not dismiss the possibility that there may also have been a nontrivial contribution of simply having been quite lucky to have found an incredibly valuable raw material that was relatively easy to obtain for about a century and a half.
Yeah.. Don’t dismiss that possibility.
Filed under: Uncategorized | Tags: crude oil, depletion, IEA, oil predictions, peak oil, petroleum, production, Rech
Q: What do you foresee? Let’s begin with the non-OPEC producers (which represent 58% of production and 23% of global reserves).
Rech: Outside OPEC, things are clear: of 40 million barrels per day (mb/d) of conventional petroleum extracted from existing fields, we face an annual decline on the order of 1 to 2 mb/d.
Roughly 5% annual decline in conventional supply ongoing.
Filed under: Uncategorized | Tags: Bakken Shale, Barnett Shale, drilling rigs, dry gas, Eagle Ford, energy, gas drilling, LNG, Marcellus, methane, Natural gas, production, rig counts, shale gas, shale plays, tight gas
From a detailed article at Rigzone. http://www.rigzone.com/news/article.asp?a_id=113890&hmpn=1
Filed under: Uncategorized | Tags: Brazil, OECD, Petrobras, production, Roubini
Filed under: Uncategorized | Tags: Bakken, Bakken Shale, consumption, exports, fracking, hydraulic fracturing, imports, North Dakota, peak oil, production
Louise Basinese, Wall Street Daily. The confusion about refinery product exports is getting brutal.
Filed under: Uncategorized | Tags: energy, energy illiteracy, exports, fracking, imports, Nestlerode, peak oil, production, State College
From statecollege.com, Dec. 4, 2011.
…very quietly, I guess.
The author Dan Nestlerode is apparently the Director of Research at his firm. Ouch Dan!
Filed under: Uncategorized | Tags: energy, Exxon, oil, oil supply predictions, peak oil, production