Author Topic: Peak Oil Theory or Peak Oil Faction?  (Read 9501 times)

electrobleme

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Peak Oil Theory or Peak Oil Faction?
« on: August 27, 2009, 04:34:36 »
Is it not strange that all the different locations have oil? No matter geological age, strata, depth, conditions...

The idea that there is a limited supply of oil (Peak Oil Theory) does not match the reports and news articles that you read every month of every year and will continue to read.

Every year there is a "biggest oil feild or reserves" story.  All we do is find more oil and it will keep happening. The reason is that oil is not a fossil fuel. Oil is created in the earth by the earth. That is why it is found very deep inside the earth and just on the surface. Found in a variety of different locations and geological areas.  It is the same for water and will be found the same for gas also. If that sounds to crazy to beleive then why is water found coming from "Black Holes" and also on the Suns surface around the Sunspots?

Plasma Discharges or Electrical Universe activity seem to create natural minerals and liquids. That is also why oil wells gush at massive pressures, if oil is decomposed stuff why is it coming out at under such great pressure?
The same for the fountains of the deep and Black and White Smokers. They are found at the bottom on the sea floor under intense pressure yet are spewing and shooting out water.

Black Holes are nothing to do with anything being sucked in, everything comes out from a Black Hole. The sunspots we can see are the deepest part of the sun visible to us yet they are black? They are also the coldest area of the Sun.  A sunspot is hugely magnetic and you do not seem to be able to have a magnetic field without an electrical current.

The Earths Oil will never run out as it will keep being replenished. Unless the Earth's position in the Electric Universe circuit changes or its power/transformer changes.

What is interesting is the geology of where oil is found. Salt is certainly a very big part of some fields.




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« Last Edit: May 22, 2010, 07:23:43 by electrobleme »

electrobleme

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Vast oil discovery found in Uganda
« Reply #1 on: August 27, 2009, 04:39:43 »
Will Uganda become a Norway or a Nigeria?
Quote
The discovery of vast oil reserves in Uganda has caused excitement across the country, and more than a touch of anxiety too. Energy companies have recently found more than 700m barrels of commercially viable oil in the pristine Albertine Graben region, representing the first major petroleum strike in east Africa. Tullow Oil, the FTSE 100 company leading the exploration, believes the exploitable deposits could exceed 1.5bn barrels, reserves comparable to Equatorial Guinea and the Republic of Chad .

If managed well, the petrodollars could transform the economy of the landlocked country, potentially doubling the state's revenues, creating thousands of jobs and help realise President Yoweri Museveni's dream of industrialising the country.

If not, sceptics point to Nigeria, where billions of dollars of oil income has brought great wealth to the few but failed to solve widespread poverty, and whose mere mention makes Ugandan government officials bristle.

"Why must people always look at the bad examples and say we will suffer the same curse?" said Fred Kabagambe-Kaliisa, permanent secretary in the ministry of energy and mineral development. "Why not mention the good ones, like Norway?"
Uganda got oil - guardian.co.uk

More and more oil will be found around the world. What shortage of oil is there? What Peak Oil?

electrobleme

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supergiant field - God is Brazilian
« Reply #2 on: September 11, 2009, 00:48:38 »


Guara oil field in the Santos Basin

Quote
The potential of Brazil to become one of the biggest oil producers in the world was highlighted today when BG – the former exploration arm of British Gas – reported a "supergiant" field with up to two billion barrels of recoverable reserves.

The Guara discovery builds on a series of other major successes in very deep waters off Brazil and dwarfs rival strikes such as Tiber in the US Gulf which was announced with great fanfare by BP last week.

The Brazilian oil rush not only undermines claims that the world may run out of oil soon but threatens to upset the political balance in Latin America where Hugo Chávez's Venezuela has held sway as the continent's dominant energy provider...

Chapman has never before given a figure for the size of Guara's reserves which are on par with fields like Forties, the biggest find in the North Sea....

President Luiz Inácio Lula da Silva revealed this month details of how Brazil proposes to tap as much as 150bn barrels of oil off its Atlantic coast in the so-called pre-salt belt...

how Brazil will develop the biggest new oil zone discovered this century, an offshore treasure trove which proved, as Lula put it, that "God is Brazilian".

That confidence contrasted with downbeat news from Venezuela, the continent's traditional energy power, where bidding rights for the Orinoco belt, one of the world's biggest oil auctions, were postponed for a third time because of wrangling between investors and president Chávez's government.

If Brazil's hopes are realised by 2020 the part-public, part-private Petrobras will, with foreign partners, produce 5.7m barrels of oil and gas a day – more than double the output of Venezuela.

Brazil's optimism is on display in the coastal city of Angra dos Reis where thousands of shipyard workers build massive, 49,000-tonne oil platforms.

"There is nobody else in the world building so many platforms," beamed Roberto Moro, a Petrobras construction manager in a garish orange jumpsuit. "There is lots of work, there are lots of projects and this will continue for a long time."
###



electrobleme

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"easy oil" - these are the most important sources of energy in the world - fields worth fighting over

A barrel of oil is 42 US Gallons, 34.5 Imperial Gallons or 159 Liters.
BPD means Barrels Per Day.
It is an old measurement based on the English wine cask measurement, the Tierce.

1 million BPD = 42,000,000 Barrels of oil in one Day = 159 million Liters per Day

Think how much we have used and how much is mentioned in these reserves alone? How does decaying organic material produce so much oil, why does it gush so much (under immense pressure) from the Earth? Is the oil produced or being produced naturally by the Earth and is nothing to do with rotting vegetation?

The world uses 85 million BPD, thats around 13,515,000,000 Liters of oil per day.


Quote
The World's Biggest Oil Reserves

Chances are your energy needs are going to flow from one of these fields in the future.

This month Iraq will finalize contracts with the likes of ExxonMobil, Royal Dutch Shell and BP to develop some of its biggest oil fields. These giants are among the world's last remaining pockets of so-called "easy oil." They don't require ultradeep drilling or innovative production techniques, just the application of Big Oil know-how. No wonder the oil companies agreed to develop Iraq's fields without even getting an ownership stake in the fields and collecting as little as $1.15 per barrel recovered.

Given the size of Iraq's undeveloped giants there are no technical reasons why within 10 years the country can't supplant both Iran and Russia to become the world's No. 2 oil producer after Saudi Arabia. No wonder Iraq holds three of the top 10 fields of the future.

The world gets its daily ration of 85 million barrels of oil from more than 4,000 fields. Most of these are small, less than 20,000 barrels per day. Giants, producing more than 100,000 bpd, account for just 3%. Then there's the megafields that gush out 1 million bpd. These are the most important sources of energy in the world--fields worth fighting over. In figuring the top 10 fields of the future, we're not interested in most of the giants of yesteryear, and not necessarily even the giants of today. Just the giants of tomorrow--those fields that might not even be producing yet, but will likely be doing better than 1 million bpd a decade from now.

The once and future king of the world's oil fields, Ghawar, in Saudi Arabia, ranks first on our list. It is thought to have had more than 100 billion barrels of recoverable oil in place. At 160 miles long and 16 miles wide it confounds even the most experienced geologists. With something on the order of 60 billion produced over the past 60 years, you'd be excused for thinking that Ghawar was sliding into its twilight years. Yet the Saudis insist that Ghawar is still going strong, producing 4.5 million bpd from six main producing areas with the ability to do 5 million bpd if called upon.

The secret to Ghawar's longevity is water injection. Starting in the 1960s Saudi Aramco began injecting water underneath the oil around the outer borders of the field. Today the water flood is up to millions of barrels a day, with the oil floating up to the top of the reservoir on sea of water. In conversations with Forbes in 2008 Aramco executives insisted that by continuing to treat Ghawar with kid gloves they'll be able to coax 4 million bpd out of her for many years to come.

Coming in second is West Qurna, in Iraq, home to an expected 21 billion barrels of oil. This month a joint venture between ExxonMobil (XOM) and Royal Dutch Shell (RDSA) was awarded the contract to develop the 9 billion barrel first phase of the West Qurna oil field. They will aim to raise output from 300,000 bpd to 2.3 million bpd. It's tough to make the case that the two biggest oil companies from the countries that invaded Iraq in 2003 are getting a sweetheart deal. The contract calls for the government of Iraq to retain ownership of the field and the oil. Exxon and Shell, as contractors, are to be paid just $1.90 for each a barrel they produce.

Third is Majnoon, also in Iraq. At 13 billion barrels, these massive reserves are in a relatively small area near the Euphrates River in southern Iraq. The field's abundance was so mind-boggling that it was named Majnoon, Arabic for "crazy." This easy oil hasn't been developed in part because of its location so close to the Iranian border. In the 1980s, during the Iran-Iraq war, managers reportedly buried the wells, concerned that they might be targeted by Iranian forces. The field produces just 50,000 bpd now, but has the potential to do 1.8 million bpd.

The Rumaila field in Iraq, with 17 billion barrels, is the fourth-largest field. In November, British giant BP (BP) and China National Petroleum Corp. won the first oil contract of the post-Saddam era to redevelop Rumaila. Located on the border with Kuwait, the field is already producing 1 million bpd, half of Iraq's total production. The partners intend to spend some $15 billion to treble that to 2.85 million bpd. That output would be enough to put Rumaila in second place worldwide after Saudi Arabia's Ghawar.

So what won't you see on this list? Mexico's Cantarell is nowhere to be seen. It used to be the second-biggest producer in the world, giving more than 2 million bpd; it's now in terminal decline, slipping below 400,000 bpd. Likewise Russia's Samotlor. It was the monster field of the Soviet Union, with production peaking at 3.5 million bpd in the 1970s. Today it's doing more like 350,000 bpd. No respect for China's biggest field Daging either; it still produces roughly 800,000 bpd but is in serious decline.

As for Canada's heralded oil sands region--sure it's a massive resource, but easy oil it ain't. Oil sands require monstrous amounts of water and natural gas to recover and process. A barrel of oil sands oil costs roughly 20 times more to produce than one from Iraq. And environmentalists think it's dirty.

Lots of oil provinces didn't quite make the cut. West Africa could see the biggest growth of all across Nigeria, Angola and Ghana--but so far no individual fields look big enough on their own. Same for Siberia, which has most of Russia's production, but from mature fields.

Saudi Arabia could have been better represented. Its 750,000 bpd Shaybah field was a runner-up. Iraq too. The government didn't receive any bids to redevelop the 8 billion barrel East Baghdad field because much of it lies under residential neighborhoods. And Kirkuk, in northern Iraq, has something like 8 billion barrels remaining, but it was damaged by overproduction in the latter years of Saddam's rule and won't likely regain its peak of 700,000 bpd. But it could.


In Depth: The Top Oil Fields of the Future

1. Ghawar. Saudi Arabia. 30 Billion Barrels
The once and future king. Ghawar is thought to have had more than 100 billion barrels of recoverable oil in place. At 160 miles long and 16 miles wide it boggles the mind of even the most experienced geologists. With something on the order of 60 billion produced over the past 60 years, you'd be excused for thinking that Ghawar was sliding into its twilight years. Yet the Saudis insist that Ghawar is still going strong, producing 4.5 million bpd from six main producing areas with the ability to do 5 million bpd if called upon.


2. West Qurna. Iraq. 21 Billion Barrels
This month a joint venture between ExxonMobil and Royal Dutch Shell were awarded the contract to develop the 9 billion barrel first phase of the West Qurna oil field. They will aim to raise output from 300,000 bpd to 2.3 million bpd. It's tough to make the case that the two biggest oil companies from the countries that invaded Iraq in 2003 are getting a sweetheart deal. The contract calls for the government of Iraq to retain ownership of the field and the oil.


3. Majnoon. Iraq. 13 Billion Barrels
Massive reserves in a relatively small area near the Euphrates River in southern Iraq, the field's abundance was so mind-boggling that it was named Majnoon, Arabic for "crazy." This easy oil hasn't been developed in part because of its location so close to the Iranian border. In the 1980s, during the Iran-Iraq war, managers reportedly buried the wells, concerned that they might be targeted by Iranian forces. The field produces just 50,000 bpd now but has the potential to do 1.8 million bpd.


4. Rumaila. Iraq. 17 Billion Barrels
In November, British giant BP and China National Petroleum won the first oil contract of the post-Saddam era to redevelop Rumaila. Located on the border with Kuwait, the field is already producing 1 million bpd, half of Iraq's total production. The partners intend to spend some $15 billion to treble that to 2.85 million bpd. That output would be enough to put Rumaila in second-place worldwide after Saudi Arabia's Ghawar.


5. Khuzestan. Iran. 100 Billion Barrels?
Not just a field, Khuzestan is the province where 90% of Iran's oil is produced. It borders Iraq and is home to the Ahwaz field, thought to produce 300,000 bpd, and the Yadavaran field, which is being developed by China's Sinopec under a $70 billion deal made in 2004. Last year in the province Iran trumpeted the discovery of an 8 billion barrel field called Soussangerd. Iraq's Majnoon field is thought to extend over the border into Khuzestan territory.

The World's Biggest Oil Reserves | finance.yahoo.com

« Last Edit: January 28, 2010, 22:18:12 by electrobleme »

peter

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Re: Peak Oil Theory or Peak Oil Fact?
« Reply #4 on: January 28, 2010, 15:18:54 »
Quote
Researchers at KTH have been able to prove that the fossils of animals and plants are not necessary to generate raw oil and natural gas. This result is extremely radical as it means that it will be much easier to find these energy sources and that they may be located all over the world.

Together with two research colleagues, Professor Kutcherov has simulated the process of pressure and heat that occurs naturally in the inner strata of the earth’s crust. This process generates hydrocarbons, the primary elements of oil and natural gas.

According to Vladimir Kutcherov, these results are a clear indication that oil supplies are not drying up, which has long been feared by researchers and experts in the field.

He adds that there is no chance that fossil oils, with the help of gravity or other forces, would have been able to seep down to a depth of 10.5 kilometres under, for example the Gulf of Mexico. This is, according to Vladimir Kutcherov, in addition to his own research results, further evidence that this energy sources can occur other than via fossils - something which will cause a lively discussion among researchers for a considerable period of time.

Source: http://www.kth.se/aktuellt/1.43372?l=en_uk - KTH - Royal Institute of Technology