Oil Reserves in the U.S. Upped

Source?

 

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Clever. Too bad it's petty wordplay.

Of course they are. However, petroleum production decreases as the reserves become increasingly difficult to utilize.

 

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At least we drew OIS and BR to the same thread, so they are not going to spread unscience in the rest of Sciforums. I don't know what's harder trying to explain to these guys simple things or debating religious people...

No shit, shot...

Very simple, let's start with a fairy tale. Once upon a time in Pennsylvania...

...anyway, in short, obviously 150 years ago there were lots of reserves that they didn't know about. As the world kept using oil, they needed to keep discovering newer and newer reserves, which they did. But the new discoveries were smaller and smaller and they were in harder to reach places and worse quality oil. The end....

 

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From the graphs it easy to see the oil production has loss it growth rate seen in the decade before, now oil has a far more marginal or level out growth rate, yet demand has continue going up causing todays record breaking prices. I think it would be best to simply see what happens, will oil production go back to matching demand, will continue to level off or grow at marginal rates, or will it fall off.

 

With you? Seriously, no. You are a worse version of BR, using pretty much exactly the same and stupid arguments. Debate is unnecessery after your president, the OPEC and a few oil executives ALL acknowledged the fact of peak oil.

CASE FUCKING CLOSED!

And yes, I am very openminded, although I don't believe one can convince religious people or peak oil deniers....

 

http://www.eia.doe.gov/oil_gas/petroleum/info_glance/petroleum.html

http://www.eia.doe.gov/ipm/

 

Amazing how that works. Guess what? 150 years from now people will be saying the exact same thing.

Amazing how that works isn't it?

What planet do you live on? The discoveries keep getting bigger and bigger.

http://peakoildebunked.blogspot.com/2006/03/263-are-largest-fields-discovered.html

Let me guess: Matt Simmons taught you that LOL.

 

If production ever peaks, and I doubt it ever will, it will be due to above ground political and technological factors and not geological factors.

 

According to your source it says 85.9 with 85.7 being the 2 month average. It also says monthly data is often preliminary, and they give a source for historical values:
http://www.eia.doe.gov/emeu/ipsr/t44.xls

2006 average: 84.598
2007 average: 84.594

The Oil Drum.com is using the same source anyway, the EIA. The only rise was in Natural Gas Plant Liquids, whatever that is.

A second and equally serious issue lies in the energy density of the new liquids being produced. In energy terms, 1 barrel of ethanol or a barrel of liquefied natural gas is not the same as a barrel of crude oil. The latter contains significantly more energy. Hence measuring energy production by the volumes produced (barrels) is misleading and presents an over-optimistic picture.

In summary, the picture of rising liquids volume production up top is deceptive. With the passage of time the energy content of those liquids is falling steadily and the amount of energy used to produce them is rising. This means less energy for society to use at a higher cost.​

 

Are you aware that 85.9 is a higher number than 84.6?

 

They must not be counting natural gas. In any case the number you cited was incorrect.

 

I thought we were talking about crude oil not natural gas.

???

 

Ah, they don't include 2008, since by the EIA's own admission, current numbers may be preliminary estimates.

 

The February 2008 number isn't current or an estimate. It's the past and it's the actual production number which is why it was included.

 

More good news in the E&P................

The Kitchen's are open for exploration...........

and

 

This is all entirely expected given the high demand and high price of oil. It doesn't change the game in any significant way.

 

I'm glade you consider it only a game, that is the problem with far to many liberals, they consider everything a game, and the game is crooked.

The fact is that a new source of oil is open to exploration.

80 % of the Federal Lands are not open to exploration or drilling, even though there is evidence that there is large amounts of oil to be found.

The really sad thing is it is congress who through their short sighted energy policies that has put us in this situation.

It isn't that they don't know about these sources, or that they haven't done any thing about them, it is that they consciously vote to not even explore those resources, and utilize them.

Congress, refuses to let energy flow into the market, and is strangling the economy with their short sighted view, as engendered by the radical environmentalist, and enforced by the Left in Congress, with the help of RHINO's in the Republican Party.

 

Oil is going to peak yesterday.

Oil is peaking, five years from now.

Woops!

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Oil jussst peaked a minute ago.

No. It's going to peak tomorrow. Honest.

No. It's going to peak 2010. Really, I swear...

Why else would oil be up several hundred percent in 5 years? It's obviously peaking now. I mean, it's the ANTICIPATION for the peak. We knew this was gonna happen. You oil-addicts are just sooo spoiled. Now you get what you deserve. Heee heee. I hope the whole world bleeds.

Sorry. Just had to do that.

Don't know much about this topic, but I don't exactly believe that oil is suddenly sooo extremely scarce in roughly half a decade. Sounds like a tall tale. Actually, sounds extremely contrived.

Happy hunger,

T.H.R.U.S.H.

 

The Bakken analysis is very interesting. Too bad it'll probably go unnoticed! Or dismissed. Or whatever.

Oil Futures
http://www.engdahl.oilgeopolitics.net/Financial_Tsunami/Oil_Speculation/oil_speculation.HTM

Sounds quite plausible, if you ask me. :shrug:

 

The liberals have only been in power in the Congress for two years. What are we going to do when those expensive sources also deplete? You cornucopians don't have any foresight. What are you going to tell your children when we have raped all federal lands for some temporary gain?