Endless Oil?

Discussion in 'In the News' started by Chuck, Jan 12, 2010.

  1. Chuck

    Chuck just the messenger

    [​IMG] Simple methods can help mature oil fields produce more and even uncover bigger reserves than imagined

    [fimg=LEFT]http://www.cleanmpg.com/photos/data/501/GOM_Oil_Rig.jpg[/fimg]Stanley Reed - MSNBC - Jan 12, 2010

    I'd like to believe them, but still skeptical --Ed.

    ...Many analysts and industry executives have little doubt that there's plenty of oil in the ground. "Only about 32 percent of the oil [in reserves] is produced," says Val Brock, Shell's head of business development for enhanced oil recovery. Shell estimates 300 billion barrels and maybe more might be squeezed out of existing fields, much of it once thought beyond retrieval. Peter Jackson, IHS Cambridge Energy Research Associates' London-based senior director for oil industry activity, has reviewed data from the world's biggest fields. His conclusion: 60 percent of their reserves remain available. ... [rm]http://www.msnbc.msn.com/id/34770285/ns/business-oil_and_energy//[/rm]
     
  2. drimportracing

    drimportracing Pizza driver: 61,000+ deliveries

    Now there are two cats out of the bag.

    Cat#1.
    That EV's are doable and coming from many directions according to the auto manufacturers.

    Cat#2.
    That there is no shortage of oil according to the oil refiners themselves.

    Looks like a showdown for 2010. There bully alliance is faltering. I hope. - Dale
     
  3. Whether we use oil for fuel doesn't change the fact that we need oil for plastics. If we can't make plastic, our high-tech civilization will collapse.
     
  4. ItsNotAboutTheMoney

    ItsNotAboutTheMoney Super Moderator Staff Member

    The issue isn't about availability. We know there's at least a few hundred more available.

    The issue is ease and cost of extraction.

    To be fair, the actual information in the article isn't actually saying "oil will be cheap and plentiful" but "there's enough oil for a century at least".

    As BM said, the most importance thing is knowing that it will be available for plastics.

    It's also means there will be diesel available which is necessary for large vehicles (and is currently also being used for other vehicles and heating).
     
  5. PaleMelanesian

    PaleMelanesian Beat the System Staff Member

    Also, liquid fuel is incredibly valuable for aviation. Batteries are too heavy to use for flying, but acceptable for automotive use. We need to get ground-based transport moving away from oil, so it can be used for aviation and for plastics. (and what else... ?)
     
  6. basjoos

    basjoos Well-Known Member

    Oil is also used as the feedstock for some synthetic agricultural fertilizers.

    Traditional agriculture has a closed nutrient cycle where it recycles the nutrients back to the soil in the form of composted manure.

    Modern large scale commercial agriculture pumps some of its nutrients out of the oil well, converts it to fertilizer to spread on the crop. The nutrients then leave the farm in the crops, are eaten, flushed down the sewers, and eventually end up going out to sea in the treated wastewater or trucked to a landfill in the sewerage sludge. Hardly a closed cycle and only sustainable for as long as the oil wells and phosphate mines hold out. Since sewerage sludge is the combined waste flow from residential and industrial sources, it has too many heavy metals and chemical/antibiotic/hormone residues in it to be suitable for spreading on fields for crops destined for the table.
     
  7. jhu

    jhu Well-Known Member

    We also need oil for jet fuel (planes), bunker fuel (ships), and diesel (trucks). Additionally, the pharmaceutical industry also needs oil to make drugs.
     
  8. rhwinger

    rhwinger Well-Known Member

    Oil is the lifeblood of our economy. Not just a fuel, it's used in significant ways in manufacturing goods as well.

    When oil gets expensive, it has significant effects on our economy. Many previous recessions were preceded by significant oil price spikes.

    Oil might still be available at, say, $200 a barrel. When that happens, our economy will have to change accordingly. Some say the change will be drastic and unpleasant.

    But in any case, change will be required.
     
  9. drimportracing

    drimportracing Pizza driver: 61,000+ deliveries

    I don't want petroleum based oils in my fertilizers, my parents' drugs or in things that can be ingested. There are alternatives to petroleum based oils.

    Peanut oil, Vegetable oil, Canola oil, Olive oil and Hemp seed oil are good examples. Olive oil and hemp seed oil can be used for both food uses and plastics manufacturing while the others I would prefer to not use for culinary uses though they are more often cheaper and because of this, more popular, though less nutritious choices.

    Synthetic anything is suspect with me when considering putting it in your body. There are acceptable exceptions but even those often wouldn't be needed if a healthy natural lifestyle were adopted.

    As an example, arterial stents for heart patients is a great synthetic remedy to a serious health problem. Lives are being made better with the use of this invention and without the use of plastic to deliver this device, commonly made of metal, into the body, many heart patients would have a shorter life.

    Why the patient has the health problem can often be accredited to poor eating and exercising habits, mishandling of stress and a propensity to such diseases because of hereditary weaknesses. If the patient or the patients parents and grandparents ate natural and exercised regularly there would be a much greater chance of not passing weak hereditary traits like heart disease to their offspring.

    Petroleum could also be a causing factor in diseases like cancer, heart disease. If getting it on your skin is an action requiring a warning then certainly putting it in your body is a bad idea. http://www.usatoday.com/news/health/2007-10-30-plastics-cover_n.htm

    Use it to haul freight and to fly aircraft until we can figure a way to eliminate even that.
    It's good for squeaky hinges and bicycle chains but so are other oils. - Dale
     
  10. echoman

    echoman Well-Known Member

    It always seems funny to me that we need oil for almost everything in are lives, but we burn something like a 3rd of it. If we were to stop wasting it, ie use EVs instead of gas, like this and use it for stuff that we need, that would also help oil stocks stay full longer.
     
  11. ILAveo

    ILAveo Well-Known Member

    Oil may be "endless", but that misses the point that it is only valuable so long as it can be produced and used cheaper than the substances that would replace it. I expect use of biomass as chemical feedstocks to become cheaper over time and and the cost of oil production dearer. This should make "endless" oil much less than endlessly valuable.
     
  12. dr61

    dr61 Well-Known Member

    Actually we burn more like 3/4's of the oil extracted. Most other uses of oil allow for at least some recycling of hydrocarbon components (plastics and lubricants, for example).

    In this graph, the light blue, blue and yellow areas represent mostly burning of oil (transportation, electrical generation, and heating):

    http://www.eia.doe.gov/pub/oil_gas/...il_market_basics/dem_image_us_cons_sector.htm
     
  13. phoebeisis

    phoebeisis Well-Known Member

    You don't need oil for plastic/polymers, but it is certainly the cheapest source of building material. Those starting molecules can be grown and modified before binding them together-more expensive than starting with oil of course.
     
  14. echoman

    echoman Well-Known Member

    I just finished a book called, why your world is about to get a whole lot smaller by Jeff Rubin. Its about cheap oil and what will happpen to are culture if it was to expensive. I highly recommend it to anyone.
     
  15. xcel

    xcel PZEV, there's nothing like it :) Staff Member

    Hi All:

    ___Wow, endless oil and they cannot find it in the US for some reason? Alaska output is still down over 70% from its glory days in the late 80’s?

    ___At least 65% dependant on foreign oil sources and still counting :rolleyes:

    ___Something else I found when reading this last night, $40 to $50/bbl to extract. Do you know how much NG is being used to heat the water, soap, emulsifiers before it gets pumped down into the wells? When we use more energy to extract and refine crude then if we consumed NG or Electricity to drive our vehicles directly. This Ponzi scheme is getting to be ridiculous!

    ___In any case, the more we find puts the day of reckoning that much further out which is a god thing as we head to a day when the "black goo" is more a hindrance than a useful product.

    ___Good Luck

    ___Wayne
     

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