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Ken Feldman

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Re: Oil and Gas Issues
« Reply #2950 on: April 25, 2019, 08:16:57 PM »
Can someone tell me the plausibility of this report by Philip K. Verleger, Jr.?

$200 Crude, the Economic Crisis of 2020, and
Policies to Prevent Catastrophe
https://www.pkverlegerllc.com/assets/documents/180704200CrudePaper.pdf

Also, thousands of ships are being equipped with scrubbers which will allow them to burn high-sulphur diesel and still meet the requirements.

https://www.reuters.com/article/us-oil-prices-kemp/maritime-rule-change-stirs-fears-of-diesel-shortage-kemp-idUSKCN1MZ2EM?fbclid=IwAR2OFDr6EoYyxuLEl2qIk08aczFS-GmlE-6bMP-O7Xy5ztFhnfUQheUW3Ds

Quote
The global shipping industry accounted for 46 percent of heavy fuel oil and 5 percent of gasoil used worldwide in 2012.

Under IMO rules, ship owners have two routes to comply with the reduced sulfur caps: switch consumption to fuels containing less sulfur or install exhaust gas cleaning systems commonly known as scrubbers.

Installing scrubbers involves a large upfront cost of several million dollars per ship but will allow them to continue burning cheaper high-sulfur fuel oil (capital investment to lower operating costs).

Switching consumption to lower-sulfur fuels avoids upfront costs but locks owners into buying more expensive fuels, lowering capital investment but raising operating costs.

The IMO’s consultants forecast that around 3,800 ships would be fitted with scrubbers by the start of January 2020.

They predicted most ship owners would leave installations until 2018/19 to delay capital costs as late as possible and avoid incurring costs until they could take advantage of discounted high-sulfur fuel oil.

These forecasts appear reasonably accurate. By 2020, around 4,000 ships will be fitted with scrubbers, on the most recent estimate.

A total of 1,850 vessels have already been fitted with scrubbers, according to a report issued by Norwegian consulting firm DNV GL on Oct. 10.

Tom_Mazanec

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Re: Oil and Gas Issues
« Reply #2951 on: April 27, 2019, 03:39:34 PM »
SHARKS (CROSSED OUT) MONGEESE (SIC) WITH FRICKIN LASER BEAMS ATTACHED TO THEIR HEADS

mitch

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Re: Oil and Gas Issues
« Reply #2952 on: April 27, 2019, 06:39:59 PM »
Interesting that the Saudis are admitting that their main oil field (Ghawar) is beyond peak oil and production there is declining. I think the Saudis are trying to get out of oil and into other industries. 

Driving up the price now would allow them to get maximum price for their remaining reserves.  The good news is that EV's are becoming a mature form of transportation.

Tom_Mazanec

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Re: Oil and Gas Issues
« Reply #2953 on: April 27, 2019, 08:47:40 PM »
Interesting that the Saudis are admitting that their main oil field (Ghawar) is beyond peak oil and production there is declining. I think the Saudis are trying to get out of oil and into other industries. 

Driving up the price now would allow them to get maximum price for their remaining reserves.  The good news is that EV's are becoming a mature form of transportation.

When do you think I will be able to:
Buy an EV with similar performance to ICE cars, at a similar price and
Be able to "charge up" as easily as I can gas up now?
SHARKS (CROSSED OUT) MONGEESE (SIC) WITH FRICKIN LASER BEAMS ATTACHED TO THEIR HEADS

crandles

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Re: Oil and Gas Issues
« Reply #2954 on: April 27, 2019, 09:26:23 PM »
price parity by around 2022
https://thedriven.io/2019/01/23/report-predicts-21m-ev-2030-price-parity-2022/

Total cost of ownership parity before then if not already.

> "charge up" as easily as I can gas up now

Who wants to breathe toxic fumes at a gas station? Plugging in at home is surely easier (no special journey) than inserting nozzle at gas station (assuming possible). Depending on your driving needs, that may only account for 90-98% of days and the rest, for the moment, you may well need to plan in advance where you are going to charge up and it take longer but that will certainly get easier with many more options in future for where you can charge up and leave it unattended while you do something useful.

If you see this as offputting, then perhaps you need to reassess importance of AGW and what you are willing to do to reduce impact you are having?

gerontocrat

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Re: Oil and Gas Issues
« Reply #2955 on: April 27, 2019, 09:44:19 PM »
When do you think I will be able to:
Buy an EV with similar performance to ICE cars, at a similar price and
Be able to "charge up" as easily as I can gas up now?
Do you think humanity will be able to sort out the environmental damage humanity has done, is doing and will inevitably do over the next few years (no matter what efforts are made) without causing automobile drivers any inconvenience whatsoever?
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Tom_Mazanec

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Re: Oil and Gas Issues
« Reply #2956 on: April 27, 2019, 10:34:05 PM »
price parity by around 2022
https://thedriven.io/2019/01/23/report-predicts-21m-ev-2030-price-parity-2022/

Total cost of ownership parity before then if not already.

> "charge up" as easily as I can gas up now

Who wants to breathe toxic fumes at a gas station? Plugging in at home is surely easier (no special journey) than inserting nozzle at gas station (assuming possible). Depending on your driving needs, that may only account for 90-98% of days and the rest, for the moment, you may well need to plan in advance where you are going to charge up and it take longer but that will certainly get easier with many more options in future for where you can charge up and leave it unattended while you do something useful.

If you see this as offputting, then perhaps you need to reassess importance of AGW and what you are willing to do to reduce impact you are having?

Not offputting as you describe it.
I have a 2011 Ford Fiesta with something like 21,000 or 22,000 miles on it. It will be awhile till it needs to be replaced. I live in an apartment style condo with an open air parking garage with an assigned slot for my car...no power outlet there. When would one be likely to be installed?
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Shared Humanity

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Re: Oil and Gas Issues
« Reply #2957 on: April 27, 2019, 10:48:47 PM »
Interesting that the Saudis are admitting that their main oil field (Ghawar) is beyond peak oil and production there is declining. I think the Saudis are trying to get out of oil and into other industries. 

Driving up the price now would allow them to get maximum price for their remaining reserves.  The good news is that EV's are becoming a mature form of transportation.

When do you think I will be able to:
Buy an EV with similar performance to ICE cars, at a similar price and
Be able to "charge up" as easily as I can gas up now?

Existential crises can be so damn inconvenient.  ::)

oren

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Re: Oil and Gas Issues
« Reply #2958 on: April 28, 2019, 01:00:08 AM »
Quote
I live in an apartment style condo with an open air parking garage with an assigned slot for my car...no power outlet there. When would one be likely to be installed?
Maybe when you pressure condo management?
Technically it could be this year. Realistically it could be in the next 5 years. Less than that for a corporate parking lot. On-street parking could take much longer.

Tom_Mazanec

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Re: Oil and Gas Issues
« Reply #2959 on: April 29, 2019, 01:35:41 PM »
Quote
I live in an apartment style condo with an open air parking garage with an assigned slot for my car...no power outlet there. When would one be likely to be installed?
Maybe when you pressure condo management?
Technically it could be this year. Realistically it could be in the next 5 years. Less than that for a corporate parking lot. On-street parking could take much longer.

We are having a picnic for the 24 units sometime in June. Maybe I can campaign among the residents to electrify the carport.
SHARKS (CROSSED OUT) MONGEESE (SIC) WITH FRICKIN LASER BEAMS ATTACHED TO THEIR HEADS

etienne

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Re: Oil and Gas Issues
« Reply #2960 on: April 29, 2019, 08:24:15 PM »
Quote
I live in an apartment style condo with an open air parking garage with an assigned slot for my car...no power outlet there. When would one be likely to be installed?
Maybe when you pressure condo management?
Technically it could be this year. Realistically it could be in the next 5 years. Less than that for a corporate parking lot. On-street parking could take much longer.

We are having a picnic for the 24 units sometime in June. Maybe I can campaign among the residents to electrify the carport.

This is a little bit out of topic, but the problem of residential loading is that you need to install the infrastructure for each EV because parking place are private and you can't move your car when you want to load it. On the other hand, you don't want to move your car in the middle of the night when your neighbour has his car loaded to that you can load yours.

There are two ways to do it, you can install a single electrical distribution and put a counter on each loading station, or you can have a cable coming from each private electrical distribution to the carport. The first solution has the advantage that you can do some load balancing, which means faster loading when fewer cars are connected, and reduced to no loading when there is a high power requirement in the building. The second solution has the advantage that costs can be carried by each interested person, but if everybody loads at its maximum power, you'll probably have the main breaker that will stop it completely. A mix of both doesn't make sense because load balancing requires a level of technology that includes the counters.


Archimid

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Re: Oil and Gas Issues
« Reply #2961 on: April 30, 2019, 12:51:13 AM »
Report: New Mexico’s Methane Problem Worsens as Permian Production Soars


https://www.edf.org/media/report-new-mexicos-methane-problem-worsens-permian-production-soars

Quote
Application of cutting-edge research and new Permian data indicate New Mexico’s methane emissions are five times higher than what EPA data suggest
I am an energy reservoir seemingly intent on lowering entropy for self preservation.

rboyd

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Re: Oil and Gas Issues
« Reply #2962 on: April 30, 2019, 02:23:03 AM »
Report: New Mexico’s Methane Problem Worsens as Permian Production Soars


https://www.edf.org/media/report-new-mexicos-methane-problem-worsens-permian-production-soars

Quote
Application of cutting-edge research and new Permian data indicate New Mexico’s methane emissions are five times higher than what EPA data suggest

There is more and more of such studies coming out, it will be interesting to see if this is taken up by the UN IPCC / regulators with respect to national emissions data. The restatements for both the USA and Canada could be quite considerable and change the "clean bridge fuel" narrative for natural gas.

Sigmetnow

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Re: Oil and Gas Issues
« Reply #2963 on: May 05, 2019, 02:32:30 AM »
Exxon Directors Face Shareholder Revolt Over Climate Change
Quote
A group of Exxon Mobil Corp. shareholders launched a proxy fight against the oil giant’s directors after failing to get a climate proposal onto the ballot for the company’s annual meeting.

The New York State Common Retirement Fund, led by New York State Comptroller Thomas DiNapoli, and the Church of England said they would vote against all Exxon directors at the company’s May 29 annual meeting and urged other shareholders to consider doing the same.

Exxon’s “inadequate response to climate change constitutes a serious failure of corporate governance,” they said in a filing Friday.

The investors, which said they are acting with the Climate Action 100+ group of investors who oversee $32 trillion in assets, also urged shareholders to vote in favor of proposals for an independent chairman, the establishment of a climate change board committee and a report on lobbying. ...
https://www.bloomberg.com/amp/news/articles/2019-05-03/exxon-directors-face-shareholder-revolt-over-climate-change
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Shared Humanity

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Re: Oil and Gas Issues
« Reply #2964 on: May 05, 2019, 05:33:11 PM »
Report: New Mexico’s Methane Problem Worsens as Permian Production Soars


https://www.edf.org/media/report-new-mexicos-methane-problem-worsens-permian-production-soars

Quote
Application of cutting-edge research and new Permian data indicate New Mexico’s methane emissions are five times higher than what EPA data suggest

There is more and more of such studies coming out, it will be interesting to see if this is taken up by the UN IPCC / regulators with respect to national emissions data. The restatements for both the USA and Canada could be quite considerable and change the "clean bridge fuel" narrative for natural gas.

There is nothing clean about fracked natural gas nor any other source of nonconventional fossil fuels. Unfortunately, proponents of BAU will continue to lie that this is the case.

vox_mundi

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Re: Oil and Gas Issues
« Reply #2965 on: May 08, 2019, 08:08:49 AM »
Gigantic Druzhba oil pipeline paralyzed for weeks   
https://dw.com/en/gigantic-druzhba-oil-pipeline-paralyzed-for-weeks/a-48638989

Contaminated crude oil from Russia is clogging the main delivery route for several EU countries. Belarus, Poland and Germany are particularly affected and the real financial consequences are still completely unclear.

Germany has a serious problem with Russia, its largest energy supplier. For two weeks, the Druzhba (Russian for "friendship") pipeline has been blocked. It is the main route to supply Europe's leading economy with Russian oil.

The problem is technical. According to information from Moscow, heavily polluted oil has entered the pipeline probably in the Samara region on the Volga. This oil contains chlorides, which are used to extract oil from largely exhausted sources. But afterwards the chlorides have to be removed, because they can cause severe corrosion damage in refineries.

The maximum allowed concentration of such chemicals is 10 parts per million (ppm). Currently though the oil in the Druzhba pipe is showing up to 330 ppm of chloride. Since refineries have refused to accept such a contaminated raw material, its transit was stopped by the pipeline operators in all customer countries.

It is been estimated that up to five million tons, or 37 million barrels, have entered the system in Russia. That would correspond roughly to the monthly capacity of the now clogged Druzhba pipeline.   
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2966 on: May 08, 2019, 06:28:04 PM »
Quote
Tom Randall (@tsrandall) 5/8/19, 11:28 AM
The world now subsidizes fossil fuels by $5.7 trillion dollars, according to the latest estimates published by the IMF. The biggest contributors are:
China—$1.4T
U.S.—$649B
Russia—$551B
EU—$239 billion
India—$209 billion

Here's the download link: imf.org/~/media/Files/… 1/
   [ https://t.co/kHvJzD8I7q ]
https://twitter.com/tsrandall/status/1126146753835696128
- Since the language of the Paris Climate Accord was adopted, subsidies of fossil fuels have actually increased—by 11%. Coal and oil accounted for 85% of the global $5.7 trillion subsidy bill. Renewable power, which isn’t included, gets just $140B. 2/
- The $5.7 trillion fossil fuel subsidy figure includes externalities that aren’t included in the price of fuel: environmental destruction, human illness from pollution, etc. Direct subsidies (pre-tax) are much narrower: $296 billion in 2017. 3/ pic.twitter.com/Y8Ny91XM6f
- The dip in direct fossil-fuel subsidies shown above is primarily a reflection of cheaper prices. Higher prices will bring back subsidies. There's also been subsidy reform in a few oil-producing nations (e.g. gasoline in Saudi Arabia now costs $2/gallon instead of $0.61) 4/
- An interesting note on externalities: It’s not just global warming. For coal, 69% of the cost society bears is from local pollution and the sickness that comes with it. For oil, 38% is local pollution and 36% is auto congestion/crashes 5/
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Sigmetnow

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Re: Oil and Gas Issues
« Reply #2967 on: May 08, 2019, 06:52:00 PM »
“Plastics production is responsible for a significant amount of greenhouse gases, the underpinning of global warming. Together, plastics and other petrochemical commodities are expected to overtake the transportation sector as the largest driver of global oil demand by 2050.”

Investors Pressure Oil Giants on Ocean Plastics Pollution
https://insideclimatenews.org/news/02052019/plastic-oceans-climate-change-pollution-investor-pressure-exxon-chevron-dow-shareholder-resolutions
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Tom_Mazanec

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Re: Oil and Gas Issues
« Reply #2968 on: May 11, 2019, 02:22:31 PM »
SHARKS (CROSSED OUT) MONGEESE (SIC) WITH FRICKIN LASER BEAMS ATTACHED TO THEIR HEADS

Sigmetnow

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Re: Oil and Gas Issues
« Reply #2969 on: May 11, 2019, 04:38:19 PM »
Texas coast

Tanker collision leaves thousands of gallons of gas product leaking into Houston shipping channel
Quote
A collision between a massive tanker and two oil barges has resulted in as much as tens of thousands of gallons of a gasoline product leaking into a shipping channel near Houston.

The U.S. Coast Guard confirmed the accident, which took place about 3:30 p.m. local time, in the Houston Ship Channel, near Bayport, Texas. A 755-foot tanker collided with a tug pushing two barges filled with 25,000 gallons of reformate each.

Reformate is an intermediate stage in the production of gasoline and is colorless, flammable and toxic to marine life.

It is unclear how much of the product has leaked into the water, officials said.
...
One of the barges capsized, while the other was severely damaged, according to the Coast Guard. Video from on scene showed one barge nearly sliced in half as a result of the collision. ...
https://abcnews.go.com/amp/US/tanker-accident-leaves-thousands-gallons-gas-product-leaking/story?id=62975485
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Sebastian Jones

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Re: Oil and Gas Issues
« Reply #2970 on: May 11, 2019, 08:52:48 PM »
Shale oil production about to crash?
https://oilprice.com/Energy/Crude-Oil/The-Shale-Boom-Is-About-To-Go-Bust.html

Inevitable this prediction shall come true. However, the shale industry has managed to confound critics such as David Hughes since 2005, and there is no indication that this collapse is imminent. The collapse is likely to be driven by the price of oil, which in turn is most likely to collapse if the global economy starts to shrink. Which is inevitable too, right?

vox_mundi

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Re: Oil and Gas Issues
« Reply #2971 on: May 11, 2019, 10:58:01 PM »
Alaska LNG exports proposed to fund Arctic icebreakers and ports 
https://www.freightwaves.com/news/lng-exports-ship-tariffs-proposed-for-arctic-funding

... Treadwell, an Arctic policy expert from the Woodrow Wilson Center in Washington, D.C., predicted liquefied natural gas (LNG) the “next big wave” of economic activity in the region that could help fund ice-breaking ships and deep-water ports.

“[The Russians] are bringing 16.5 million tons of LNG from the Yamal [LNG project] through the Bering Strait [en route to Asia] 2,600 miles through the ice, while we’ve got big fields in Prudhoe Bay [Alaska] that are lying fallow” that would require just 600 miles through the ice zone, Treadwell asserted to lawmakers at a maritime subcommittee hearing in the U.S. House of Representatives.

“With that opportunity, I predict that sometime by the end of the next decade, you’re going to see maybe as much as 50 million tons of LNG per year moving out of Russia, and maybe as much as 30-40 million tons out of Alaska” and Canada, he said. “Economic activity in the North will help pay for infrastructure in the North.”
.....................
Just like ... 'the Iraq war will pay for itself'
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oren

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Re: Oil and Gas Issues
« Reply #2972 on: May 11, 2019, 11:23:40 PM »
Yay. Climate Change is such an opportunity!

vox_mundi

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Re: Oil and Gas Issues
« Reply #2973 on: May 13, 2019, 05:08:21 PM »
Let the Games begin ...

Two Saudi Oil Tankers Attacked in the Persian Gulf Amid Rising Iran Tensions
https://www.washingtonpost.com/world/middle_east/two-saudi-oil-tankers-attacked-in-the-persian-gulf-amid-rising-iran-tensions/2019/05/13/c8907108-755e-11e9-bd25-c989555e7766_story.html

BEIRUT — Two Saudi oil tankers have been attacked and damaged in coastal waters near the Persian Gulf, the Saudi Foreign Ministry said Monday, further heightening tensions with Iran.

The tankers were subjected to an “act of sabotage” early Sunday in waters off the coast of the United Arab Emirates, Saudi Energy Minister Khalid al-Falih said in a statement reported by the official Saudi news agency.

Saudi Arabia did not say who was responsible for the attack, which the statement said caused no casualties or oil spill but inflicted “significant damage” on the vessels.

The incident coincides with a surge in U.S.-Iranian tensions after the United States said last week that it has received intelligence that Iran was planning some kind of attack on U.S. forces in the Middle East.

------------------------

Can you say 'yellow cake'?

https://www.thedrive.com/the-war-zone/27969/oil-tankers-supposedly-sabotaged-in-the-persian-gulf-as-u-s-carrier-group-approaches





https://twitter.com/Obs_IL/status/1127820905495846913/photo/1
« Last Edit: May 13, 2019, 05:40:54 PM by vox_mundi »
“There are three classes of people: those who see. Those who see when they are shown. Those who do not see.” ― Leonardo da Vinci

Insensible before the wave so soon released by callous fate. Affected most, they understand the least, and understanding, when it comes, invariably arrives too late

Tom_Mazanec

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Re: Oil and Gas Issues
« Reply #2974 on: May 13, 2019, 07:21:21 PM »
SHARKS (CROSSED OUT) MONGEESE (SIC) WITH FRICKIN LASER BEAMS ATTACHED TO THEIR HEADS

Ken Feldman

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Re: Oil and Gas Issues
« Reply #2975 on: May 13, 2019, 08:02:39 PM »
Shale oil production about to crash?
https://oilprice.com/Energy/Crude-Oil/The-Shale-Boom-Is-About-To-Go-Bust.html

Inevitable this prediction shall come true. However, the shale industry has managed to confound critics such as David Hughes since 2005, and there is no indication that this collapse is imminent. The collapse is likely to be driven by the price of oil, which in turn is most likely to collapse if the global economy starts to shrink. Which is inevitable too, right?

The article has some valid reasons why the shale boom will be ending sooner than might be expected:

Quote
For years, companies have deployed an array of drilling techniques to extract more oil and gas out of their wells, steadily intensifying each stage of the operation. Longer laterals, more water, more frac sand, closer spacing of wells – pushing each of these to their limits, for the most part, led to more production. Higher output allowed the industry to outpace the infamous decline rates from shale wells.

In fact, since 2012, average lateral lengths have increased 44 percent to over 7,000 feet and the volume of water used in drilling has surged more than 250 percent, according to a new report for the Post Carbon Institute. Taken together, longer laterals and more prodigious use of water and sand means that a well drilled in 2018 can reach 2.6 times as much reservoir rock as a well drilled in 2012, the report says.

Quote
For a while, there was enough acreage to allow for a blistering growth rate, but the boom days eventually have to come to an end. There are already some signs of strain in the shale patch, where intensification of drilling techniques has begun to see diminishing returns. Putting wells too close together can lead to less reservoir pressure, reducing overall production. The industry is only now reckoning with this so-called “parent-child” well interference problem.

Also, more water and more sand and longer laterals all have their limits. Last year, major shale gas driller EQT drilled a lateral that exceeded 18,000 feet. The company boasted that it would continue to ratchet up the length to as long as 20,000 feet. But EQT quickly found out that it had problems when it exceeded 15,000 feet. “The decision to drill some of the longest horizontal wells ever in shale rocks turned into a costly misstep costing hundreds of millions of dollars,” the Wall Street Journal reported earlier this year.

Sebastian Jones

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Re: Oil and Gas Issues
« Reply #2976 on: May 14, 2019, 02:32:04 AM »
Shale oil production about to crash?
https://oilprice.com/Energy/Crude-Oil/The-Shale-Boom-Is-About-To-Go-Bust.html

Inevitably this prediction shall come true. However, the shale industry has managed to confound critics such as David Hughes since 2005, and there is no indication that this collapse is imminent. The collapse is likely to be driven by the price of oil, which in turn is most likely to collapse if the global economy starts to shrink. Which is inevitable too, right?

The article has some valid reasons why the shale boom will be ending sooner than might be expected:

Quote
.....
It does indeed. We have seen these reasons brought out before. There is a saying in fracking criticism circles- "Red Queen production". Just like the Red Queen in Alice Through The Looking Glass, shale drillers have to work faster and faster, better and better to off set declines. I expect that  tech developments will put off the crash for a bit longer yet- not to mention that there is a pretty decent inventory of drilled but not completed (fracked) wells. Once North American shale production goes off a cliff, it will seriously roil global oil markets. Fracking essentially doubled American oil production over the past 14 years.

Sigmetnow

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Re: Oil and Gas Issues
« Reply #2977 on: May 14, 2019, 02:34:53 PM »
“A lot of damage has already been done."

Oil is slowly losing its best customer
Quote
Between global warming, Elon Musk, and a worldwide crackdown on carbon, the future looks treacherous for Big Oil.

The rise of Tesla (TSLA) and electric vehicles broadly pose an existential threat to the oil industry. Passenger vehicles are the No. 1 source of demand for oil — and tomorrow's transportation system may no longer rely on the gas station.

But it's unclear if long-term investors should worry that the world's unquenchable thirst for oil will finally be satisfied. No one truly knows when that moment will arrive: Estimates range from a few years to several decades. The timing depends on how many electric vehicles will be on the road, how seriously governments take global warming and a confluence of other factors.

The lack of visibility in the oil industry's long-term future remains a big risk for investors. Rapidly evolving technology and shifting political winds could hasten the arrival of peak oil well before Wall Street's estimates. That could cause serious financial pain.

"Look at what happened to the coal industry," said JJ Kinahan, chief market strategist at TD Ameritrade. "You have to keep that in the back of your mind and be vigilant. It can turn very, very quickly.” ...
https://www.cnn.com/2019/05/08/investing/oil-stocks-electric-vehicles-tesla/index.html
People who say it cannot be done should not interrupt those who are doing it.

vox_mundi

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Re: Oil and Gas Issues
« Reply #2978 on: May 14, 2019, 04:39:36 PM »
Oil Prices Jump After Saudi Arabia Reports Drone Attack On Pumping Stations
https://www.cnn.com/2019/05/14/investing/oil-prices-saudi-drone-attack/index.html

Oil prices climbed on Tuesday after Saudi Arabia reported "armed drones" attacked two pumping stations in the kingdom, underscoring rising tensions in the Middle East.

US oil prices rose 1.4% even though Saudi Aramco told CNN that the attack caused "no damage to oil production, no oil spills or injuries." Brent crude, the global benchmark, jumped 1.6%.

Saudi Aramco, the kingdom's state-owned oil company, told CNN that the drone attack targeted two pumping stations located between Riyadh in the east and Yanbu in the west. Only one of the pumping stations suffered "minor damage," Aramco said.

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U.S. Government Claims Iran Is Behind Attacks On Oil Tankers, But Has Yet To Show Evidence
https://www.thedrive.com/the-war-zone/27992/u-s-government-claims-iran-is-behind-attacks-on-oil-tankers-but-has-yet-to-show-evidence

The news of comes amid a report that the Pentagon revised a contingency plan that includes sending 120,000 troops to respond to Iranian aggression. ... Acting Secretary of Defense Patrick Shanahan presented an updated contingency plan to President Donald Trump and other senior administration officials on May 9, 2019, regarding how the U.S. military could respond if Iran or its proxies were to follow through with any attacks, or if that country were to begin work toward building a nuclear weapon.

The revisions were ordered by hard-liners led by John R. Bolton, Mr. Trump’s national security adviser. They do not call for a land invasion of Iran, which would require vastly more troops, officials said. ... It is unclear whether the president has been briefed on the number of troops or other details in the plans.

Deploying such a robust air, land and naval force would give Tehran more targets to strike, and potentially more reason to do so, risking entangling the United States in a drawn out conflict.

... The previous version of the Pentagon’s war plan included a classified subset code-named Nitro Zeus, a cyberoperation that called for unplugging Iran’s major cities, it power grid and its military.

... a cyberattack, without dropping bombs, carries significant risk. Iran has built up a major cyber corps of its own, one that successfully attacked financial markets in 2012, a casino in Las Vegas and a range of military targets. American intelligence officials told Congress in January that Iranian hackers are now considered sophisticated operators who are increasingly capable of striking United States targets.

https://www.nytimes.com/2019/05/13/world/middleeast/us-military-plans-iran.html

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Operation Northwoods (... just sayin')

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« Last Edit: May 15, 2019, 03:08:28 AM by vox_mundi »
“There are three classes of people: those who see. Those who see when they are shown. Those who do not see.” ― Leonardo da Vinci

Insensible before the wave so soon released by callous fate. Affected most, they understand the least, and understanding, when it comes, invariably arrives too late

ASILurker

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Re: Oil and Gas Issues
« Reply #2979 on: May 14, 2019, 06:07:18 PM »
a "drone" attack hey? with explosives/ordinance.

Wasn't 'novichoks' then .... well that's good. 

... The previous version of the Pentagon’s war plan included a classified subset code-named Nitro Zeus, a cyberoperation that called for unplugging Iran’s major cities, it power grid and its military.


The attacks on the Grid in Venezuela must have been a good practice exercise for the US Intel ... albeit ultimately unsuccessful in it's goals.

vox_mundi

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Re: Oil and Gas Issues
« Reply #2980 on: May 15, 2019, 03:11:22 AM »
a "drone" attack hey? with explosives/ordinance.

Wasn't 'novichoks' then .... well that's good. 

... The previous version of the Pentagon’s war plan included a classified subset code-named Nitro Zeus, a cyberoperation that called for unplugging Iran’s major cities, it power grid and its military.


The attacks on the Grid in Venezuela must have been a good practice exercise for the US Intel ... albeit ultimately unsuccessful in it's goals.

That was a warm-up. We're just getting started ...

“There are three classes of people: those who see. Those who see when they are shown. Those who do not see.” ― Leonardo da Vinci

Insensible before the wave so soon released by callous fate. Affected most, they understand the least, and understanding, when it comes, invariably arrives too late

etienne

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Re: Oil and Gas Issues
« Reply #2981 on: May 16, 2019, 05:59:51 AM »
I don't believe that one side is more trustworthy than the other. Saudi Arabia really wants prices up, and it is always nice for a non democratic government (Venezuela, Iran, Saudi Arabia...) to say that problems are due to somebody else, which might even be true, but control is impossible excepted like the US controlled mass destruction arms in Irak, which I hope won't happen again.

ASILurker

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Re: Oil and Gas Issues
« Reply #2982 on: May 16, 2019, 06:20:10 AM »
I don't believe that one side is more trustworthy than the other. Saudi Arabia really wants prices up, and it is always nice for a non democratic government (Venezuela, Iran, Saudi Arabia...) to say that problems are due to somebody else, which might even be true, but control is impossible excepted like the US controlled mass destruction arms in Iraq, which I hope won't happen again.

Fixed.

Tom_Mazanec

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Re: Oil and Gas Issues
« Reply #2983 on: May 17, 2019, 04:31:53 AM »
SHARKS (CROSSED OUT) MONGEESE (SIC) WITH FRICKIN LASER BEAMS ATTACHED TO THEIR HEADS

vox_mundi

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Re: Oil and Gas Issues
« Reply #2984 on: May 17, 2019, 04:56:57 AM »
“There are three classes of people: those who see. Those who see when they are shown. Those who do not see.” ― Leonardo da Vinci

Insensible before the wave so soon released by callous fate. Affected most, they understand the least, and understanding, when it comes, invariably arrives too late