Global Oil Peak-What Affect on Airlines?

[bafanguy]

Hi!

Does anyone know about what type of engines fuels we will fly when oil is too expensive to use?

Coal dust...then America will be the new Saudi Arabia.

 

[jobear]

MOONSHINE!!!
That sh@t burns even when not lit!

Jobear

 

[atpcliff]

Hi!

Here's what the CEO of ChevronTexaco had to say, compliments of Investors Business Daily:

http://www.investors.com/breakingnews.asp?journalid=26458788&brk=1

"Oil is no longer in plentiful supply. The time when we could count on cheap oil and even cheaper natural gas is clearly ending," ChevronTexaco Chairman David O'Reilly said in a recent speech."

Cliff
YIP

 

[Flylo]

I Believe It!!

Simmons believes Iran's oil production has also peaked. The technical term for damaging an oilfield by overproduction is rate sensitivity. In other words, if the oil is pulled out of the ground too fast, it damages the fragile geological structure of the field. This can make as much as 80% of the oil within the field unextractable.

CLiff YIP

Most people have NO idea how true this is. The problem is the overwhelming desire for the quickest possible return on a drilling investment (sometimes referred to as greed).

The figures vary, but even in Texas where the Railroad Commission (they regulate oil production in Texas) has had what they call an "allowable" in place for decades that only permits producing 1/3 of the potential total daily production for any given oil well; you are still doing mighty good to recover just 1/3 of the total amount of oil in a reservoir before having to resort to a secondary or tertiary recovery system. The recovery costs will then be considerably more depending upon the method used and even then, you will probably leave more than half of the oil in the reservoir. Things may have changed in Texas as I haven't lived there in many years but I believe those percentages are pretty close You get the general idea anyway.

In my own state, as in most states, there is no allowable. You are free to let a well produce as much as it can as fast as it can and most people, especially people that have multiple investors (read: boiler room promoters) will let 'er rip so that the initial return looks good. The fact is, if you hit oil, that most of the wells in my area will come in pretty good after an acid job but if you leave them wide open they will blow down very quickly, say, from 100 bbls/day to 5 bbls/day in a week or two and slow to a barrel a day or less within a year. On the other hand, if you shut-in the pressure and produce about 5% of open flow, they will make oil for many years and in the long run, you'll produce a considerably larger percentage of the reservoir before having to go to secondary recovery.

The other peak oil problem is with the estimation of reserves. All oil producing countries and oil production companies want to have as many reserves on their books as possible to look good to their creditors. But, in reality, there is this huge difference between total reserves quoted by the "oil will last forever" crowd and the real "recoverable" reserves.

We've had the price of oil held down to the point where it was almost impossible for the small producer to make any money or increase reserves since the mid-eighties. People need to quit listening to the wishful thinkers, tree hugger's and conspiracy advocates and start believing that oil IS a finite resource which IS NOT as plentiful as salt water in the ocean.

This recent price boost is finally starting to encourage a little exploration into the shallow (cheaper) drilling areas again and we're gonna' need all we can get.

Too bad about the gasoline prices; if you'll pardon the expression, it's somebody else's turn in the barrel.
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