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?
James Hamilton:
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.
via Economics in Action : Issue 7 : November 15, 2012 : Exhaustible Resources and Economic Growth.
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.
via Oil will decline shortly after 2015, says former oil expert of International Energy Agency | Oil Man.
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.
http://www.wallstreetdaily.com/2011/12/16/peak-oil/
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
http://www.buffalonews.com/business/article666169.ece
Filed under: Uncategorized | Tags: 2010, consumption, demand, EIA, exports, flow chart, imports, Natural gas, production, supply
From: http://www.eia.gov/totalenergy/data/annual/diagram3.cfm
Filed under: Uncategorized | Tags: Conoco, energy, energy independence, exports, imports, LNG, Natural gas, production
… the oil and gas companies will export overseas if they can make a buck off of it when prices ‘collapse’ in the US. This pretty much fracks the whole idea of drilling for ‘energy independence.’ The only thing independent here is the oil/gas company.
Ross Kelly, “Conoco Studying North America’s Gas Export Potential,” Rigzone, Dec. 8, 2011
Filed under: Uncategorized | Tags: China, EU, Iran, Japan, oil exports, OPEC, production, Turkey
From http://www.eia.gov/cabs/iran/Full.html
If the EU stops buying oil from Iran, that would seem to benefit China, Turkey and Japan.
Filed under: maps, Uncategorized | Tags: embargo, exports, Iran, oil, OPEC, petroleum, production
Iran – Analysis – U.S. Energy Information Administration (EIA).
Filed under: Uncategorized | Tags: costs of production, frac, France, hydraulic fracturing, production, shale gas, shale oil, tracking
Filed under: Uncategorized | Tags: Bakken, Bakken Shale, frac, fracking, North Dakota, production, Shale
“A Second Look at Oil Production in the Bakken,” by Heading Out, The Oil Drum, Nov. 27, 2011
The black line on the bottom represents oil price.
Not surprisingly, the predictions are coming back to earth already.
http://www.denverpost.com/news/ci_19403791
Colorado frac disclosure trumped by ‘trade secrets.’
Filed under: Uncategorized | Tags: depletion, OPEC, production, rig count, Saudi Arabia
That’s not an encouraging sign for the “all is well” team. We might expect some lag-time, however. Look at the graph. From 2005-7 the rig count shoots up as production falls. Then production shoots up while the rig count plateaus.
Graph from Stuart Staniford’s blog.
Industrialized Cyclist Notepad 