The Oil Drum | More "peak oil navel gazing..." (or, let's just publicly ignore the lessons of the last few months)

30 comments on More "peak oil navel gazing..." (or, let's just publicly ignore the lessons of the last few months)

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Dave Cohen on December 5, 2005 - 1:05am

Re: "For oil executives, the experiences of the 1985 and 1998 price collapses remain a stronger influence than their belief that the world has entered a period of more expensive energy".

Lee Raymond, the chairman of Exxon Mobil, said in his recent Senate testimony. "In the energy industry," he said, "time is measured in decades."

Raymond said that Exxon Mobil was involved in a $13 billion project in eastern Siberia that began 10 years ago and is expected to produce for 40 years.

"All told, that's more than 50 years for one project," he said, adding, "Fifty years ago, Dwight Eisenhower was president." He might have added that this was before the U.S. interstate highway system was built and sport utility vehicles became the vehicle of choice.

Ah, Lee, this is the problem--aside from the fact that you are a reactionary asshole who has funded the climate change "skeptics" industry for about 10 years now.

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Nick Rouse on December 5, 2005 - 7:42am

At least one part of Shell is beginning to see that throwing all that technology can provide at a declining oil field usually does nothing to increase total recovery and just delays the decline and steepens it when it comes. A report here says they are expecting their production in Oman to decline again this year and have decided not to increase drilling activities.

That's another 45,000 bpd to be found from expansion elsewhere.

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30 comments on More "peak oil navel gazing..." (or, let's just publicly ignore the lessons of the last few months)

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