Posts Tagged ‘Peak oil’

Earth Summit Babble

Tuesday, June 19th, 2012

Source: Alan Caruba

Why anyone still believes anything the UN Environmental Program and its Intergovernmental Panel on Climate Change has to say is one of those great imponderable questions. To prepare you for the flood of totally idiotic predictions to which you will be treated during the June 20-21 Earth Summit, here are just a few and I strongly advise you to ignore all of them.

A 550-page preparatory UN report, put together by “600 experts”, the Global Environmental Outlook—intended to soften up global suckers—predicts that Earth’s environmental systems are nearly at “their biophysical limits” thus subjecting the Earth to “irreversible and possibly cataclysmic world changes” and “If humanity does not urgently change its ways” it is doomed. (more…)

What Peak Oil? Huge oil discovery off-shore Brazil

Tuesday, February 28th, 2012

Source:  Merco Press

Repsol-Sinopec makes huge oil discovery off-shore Brazil: 250m boe

Spain’s Repsol and China’s Sinopec have made an oil discovery offshore Brazil that could be one of the biggest so far in the area and that boosted confidence that across in Africa, Angola’s deepwater reserves may be abundant too.

The firms’ Brazilian joint venture has struck oil in the Campos Basin off the coast of the South American country, it said on Monday.

“The well … drilled into a hydrocarbons column of 500 metres, one of the thickest discovered in Brazil to date,” Repsol said in a statement.

Repsol did not provide an estimate for the size of the find, but one of its partners, Norway’s Statoil, said it was a “high-impact” one: it could hold more than 250 million barrels of oil equivalent (boe) or provide 100 million boe net to Statoil.

One analyst said the discovery could be even bigger and had the potential to be an elephant when compared with a recent discovery made by Petrobras in the same area.

”Using the same ratio between the oil column size and the recoverable recourses, the estimated size of (the find) is in excess of 500 million boe,“ Teodor Sveen Nilsen, an analyst at Oslo-based firm Swedbank First Securities, wrote in a note to clients. (more…)

The R/P Ratio

Wednesday, December 14th, 2011

Source: Wattsup

Figure 1. World annual oil production in billions of barrels (blue line), and years left at that production rate (R/P ratio, red line). Right scale shows the proven oil reserves for each year, in billions of barrels (dotted green line). DATA SOURCE: BP Statistical Review of World Energy 2011, a most fascinating Excel spreadsheet. PHOTO Spindletop Hill Gusher, 1901

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Guest Post by Willis Eschenbach

In oil, as in other extractive industries, you have what is called the “R/P ratio”. In the R/P ratio, “R” is reserves of whatever it is you are extracting, and “P” is the production rate, the rate at which you are extracting and using up your reserves.

When you divide the amount you have in reserves by the rate at which you are extracting the resource, you get the number of years the reserves will last at that rate of extraction. Accordingly, I include the R/P ratio in Figure 1 as “Years Left”

A couple of things to point out. First, the “Years Left”, the R/P ratio, is currently more than forty years … and has been for about a quarter century. Thirty years ago, we only had 30 years of proven oil reserves left. Estimates then said we would be running out of oil about now.

Twenty-five years ago, we had about forty years left. Ten years ago we had over forty years left. Now we have over forty-five years left. I’m sure you see the pattern here. (more…)

Hydraulic fracturing opponents misrepresent facts to protect their ideologies and agendas

Saturday, October 1st, 2011

Source:  SPPI

What the frack is going on here?

Hydraulic fracturing opponents misrepresent facts to protect their ideologies and agendas

by Paul Driessen

Hydraulic fracturing sends “huge volumes of toxic fluids” deep underground at high pressure, to fracture shale rock and release natural gas, Food & Water Watch claims. “Billions of gallons of toxic fluids” will “contaminate” groundwater and drinking water “for generations.” We need to “Ban Fracking Now.”

Environmentalists used to support “clean natural gas.” Whence the intolerant new attitude?

Oil companies have been using hydraulic fracturing for 60 years to get the most petroleum possible from grudging rock formations deep beneath the Earth. A few years ago, Mitchell Energy and others combined HF with horizontal drilling to tap into hydrocarbon-rich shale deposits that previously refused to surrender their energy riches. Countless fracking operations later, the results have been spectacular. (more…)

Bill Gates Jumps Into Oil Exploration; Brazil’s Reserves to Double?

Thursday, January 20th, 2011

Source:  Al Fin Energy

Bill Gates has read the tea leaves, and thinks that there is money in advanced oil exploration technologies.

Microsoft co-founder Bill Gates is tossing his financial support behind a Houston company which hopes to utilize detailed analytics and measurement technologies to take some of the guesswork out of onshore oil and gas exploration. NEOS GeoSolutions — whose investors include the legendary venture capital firm Kleiner Perkins Caufield & Byers and investment bank Goldman Sachs — today announced a $60 million investment from Gates and others. (more…)

Climategate: peak oil, the CRU and the Oman connection

Wednesday, November 10th, 2010

Source: UK Telegraph

by James Delingpole

This is a guest post by contributor Andrew30 (whose full name I’ll give you when he reminds me via email). He put it up in comments but it’s so interesting it really deserves a blog all to itself).

Why would a Middle Eastern kingdom be funding a British Climate research business?

Oman has just completed a massive investment in LNG, and developed and installed new CO2 removal technology in their process; this lowers the carbon footprint of their gas. So using their gas to drive electricity generation will be less costly once CO2 is taxed.

They have no problem with this whole thing.

Saudi Arabia, who have oil and not so much gas, are in a different position, they have a problem with this whole thing.

Just an observation; a 4 degree rise in temperature in the Sultanate of Oman or Saudi Arabia would change it from really hot to really hot.

Maybe it is just good business. (more…)

Climate policy Q&A: peak oil and alternative energy

Saturday, December 12th, 2009

By Christopher Monckton

At SPPI’s blog, we are happy to answer questions from time to time about the science and public policy of climate.

Dear Lord Monckton – What is your response to the view that the combination of peak oil and the unstable cauldron of the Middle East, which is now spreading to Pakistan, is so potentially dangerous as to warrant an accelerated shift to alternative, non-oil sources of energy irrespective of climate change? – An enquirer.

Dear Enquirer, – First and foremost, one should not take public-policy decisions for reasons that are not founded in truth. Those who have (as we now know) fabricated the case for anthropogenic “global warming” have now lost the argument with the general public, notwithstanding the funding ratio of 50,000:1 in favour of alarmists. So they have a number of fall-back positions: ocean acidification (even more nonsensical than “global warming”), and the position you are inviting me to comment upon.

I should be delighted if I could be confident that our present leaders were doing as China is doing: quietly and competently going around the world securing exclusive access to valuable natural resources, while we focus on shutting down our economies and inflicting upon ourselves, selectively, the highest tax increase in human history – cap and tax – in the specious name of Saving The Planet.

China has recently secured exclusive rights over the largest iron-ore deposits in the world, in Gabon. Using nothing more than a rickety, rented drilling-rig and considerable negotiating skill, she has found a trillion barrels of oil in northern Iraq and has secured exclusive rights both from the Kurdish local administration and from the Baghdad government.

And what do we do? Ban oil-drilling off the US coast on specious environmental grounds, compelling those who want to find indigenous oil to take it from tar sands – a messy business. Also on specious environmental grounds, it has proven impossible to build a simple gas-pipeline from the North Slope of Alaska to an ice-free port such as Anchorage, so that enough natural gas to supply the whole of Western Europe is flared off daily.

Furthermore, the sour, sullen refusal of the environmental movement to countenance development of badly-needed fossil-fueled and nuclear-fueled power stations in the US and elsewhere is leading to the gradual collapse of heavy industries in the West, so that manufacturing that might have been done here, where regulation is sensible and effective, is transferred to places like China and India, where the pollution emissions per unit of production are many times higher than in the West, with the consequent loss of income and jobs. The sheer stupidity of this policy is self-evident.

Until the environmental movement disentangles itself from the international marxist Left, it will continue to resist sensible resource development. I am uneasy, therefore, at your suggestion that we should pursue the economically-destructive, climatically-irrelevant, scientifically-illiterate, mathematically-innumerate policies advocated by lavishly-funded, self-serving pressure groups closely in league with today’s worldwide governing class.

When and if the price of oil or coal or gas rises high enough to warrant the development of alternative fuels, the market will take care of the problem. The history of State intervention to try to pick future winners shows that only a lunatic would expect to succeed by going down that route.

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