Did the recent story by the MSM about Chevron's big discovery in the Gulf of Mexico derailed everything peak oil advocate have been stating for the past year or so??

I recently attended a task force meeting by our mayor on energy and efficiencies and afterwards mentioned peak oil to several people. They all acknowledged they were familiar with peak oil but then every one of them pointed the news they heard about the discovery in the gulf.. I pointed out that the discovery would in no way change the course of peakk oil worldwide but they seemed reserved in their opinions..

I believe the MSM story put any worry the people had about peak oil behind them.. It no longer on their radar..

It did,  but I think the falling prices have had an even greater effect on perceptions.

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It's all about population!

or, it's all about perceptions.  

What part of the elephant are you fondling???

Feed the Homo Saps their usual diet of sound bites all day long and see how quietly they sleep...:

"Houston-based oil consultant Dan Lippe of Petral Worldwide said that with worldwide supplies growing, he wouldn't be surprised to see oil back below $50 a barrel, and perhaps as low as $40, within a few years -- if not sooner."

http://news.yahoo.com/s/ap/oil_prices;_ylt=Atiq40jhT7EJJg40U0dsDT6AsnsA;_ylu=X3oDMTBiMW04NW9mBHNlYwM lJVRPUCUl

Same with poliTICS too -  just "trust us" says the UN and Coffin Anan... (and the gullible in Israel say let Iran have the bomb... ):

"Nasrallah said his guerrillas have replenished their arsenal and have more than 20,000 rockets which they will never give up unless a stronger Lebanese government takes over.

The Iranian-backed leader's tough stance was aimed at demonstrating that Hezbollah was not weakened by U.N. peacekeepers..."

And where are those Israeli Soldiers again... ???

http://news.yahoo.com/s/ap/20060922/ap_on_re_mi_ea/mideast

Planet Earth is currently experiencing a Wiley Coyote Moment.  Festivities will resume again shortly.  Energy is Non-negotable and the Oil Dealers in the middle east are barely sane so it is not a good idea to take poliTICS too seriously when dealing witht them.

Speaking of the Barely Sane...

"I don't want to harp on this, but when you have a lot of Americans thinking, really, that God is going to come down and save them... you know, I joke about it and you smile, but when they get up in the morning they just know, that's reality for them! "

http://transitionculture.org/?p=457

I think the same applies to all of godz childrens.

Perceptions and "simple" godz-fearing/hearing folk do not mix well in a Peak Oil world.   Whether it's The Second Helping of Christ or the 12th Imam, whatever, it doesn't look good for the Sap team.
 

just replace god with science and you capture the other half.
Festivitis will resume again shortly with US Economic growth slowing?
Oh that's right, economic recessions and depressions always prevent warfare. Never mind. My bad.

Its not warfare its ensuring demand destruction occurs outside the US to protect our way of life.

Their going to die soon anyway right ?

Investors are thinking that where's there is one Jack there could easily be more.  The new deep water techniques will open up vast new areas for exploration.  And they may be right.  $50 oil may make 20,000 foot wells economically viable.  The arctic area is another place where new oil might be found.
If that's how investors "think" I've got a bridge for sale.
Yup, you read exactly the same kind of reports and thinking when Buzzard was found in June 2001. Lots more oil would be found, this proves it, North Sea will boom again, etc. Of course reality is that it was the largest found in a decade at the time, and nothing like it has been found since, despite a big new push, new tech, etc..

But if you look at the way it was announced at the time, all North Sea concerns were over.

Regarding the Jack2 "discovery".  To repeat the discovery of a few hundred million barrels at Jack occured in 2004.  Chevron Texaco at that time was partnered with Encana, who subsequently sold their interest.

"The Jack discovery on Walker Ridge block 759 was drilled in 2004. The discovery well encountered more than 350 net feet of pay. The Jack #2 well was drilled to delineate the discovery. (...)    Four Lower Tertiary Discoveries
Jack is one of four discoveries by Devon in the lower Tertiary trend of the deepwater Gulf of Mexico. The others are St. Malo drilled in 2003, Cascade drilled in 2002 and the 2006 Kaskida discovery." http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/09-05-2006/0004426162& ;EDATE=

Jack2 will be followed by another production test next year.   The Jack2 production test took place in the spring of this year.

"The test was conducted during the second quarter of 2006 and was designed to evaluate a portion of the total pay interval. During the test, the well sustained a flow rate of more that 6,000 barrels of crude oil per day with the test representing approximately 40 percent of the total net pay measured in the Jack #2 well. Chevron and its co-owners plan to drill an additional appraisal well in 2007." http://www.chevron.com/news/press/2006/2006-09-05.asp

Note that the test results were announced after the Labour Day long-weekend.  One might speculate that the delay in the announcement may have been because of bureaucratic inefficiency.

Chevron-Texaco's geologists have been speculating on a possible 3 to 15 billion barrel recovery from the Lower Tertiary Wilcox trend in the deep waters of the Gulf of M. since at least the spring of 2005.  The nine discoveries to date offer potential recoveries from 30 to 400 million barrels of oil each.  Chevron's geologists had this to say in 2005:

"Key technical challenges for trend commerciality are: 1) reservoir quality and flow capability; 2) drilling and completion technology; and 3) development of infrastructure. Continued discoveries in the trend and successful flow tests planned in early 2006 could very well transform the Lower Tertiary Wilcox into a world-class petroleum system in the deepwater GoM."  http://www.worldoil.com/magazine/MAGAZINE_DETAIL.asp?ART_ID=2596&MONTH_YEAR=May-2005

The Jack2 production test last spring was one in series of events in a long term process, which began in the 1990's, to determine the amount of recoverable oil in the deepwater GoM and the technical feasibility of recovering oil in the conditions present there.

An additional concern affecting the feasability of transforming the Tertiary into a "world-class" petroleum system relates to Hurricane activity.

Why did the media turn a minor springtime step in a long march, that may be leading nowhere, into a major September event and evidence of the wrongness of the Peak Oil 'theory'?  

Disclosure:  The millions Chevron-Texaco gives to Republicans and a few oil industry friendly Democrats exceeds even Exxon-Mobil's 'generosity' in Washington. http://www.sunlightfoundation.com/taxonomy/term/219

The words 'to repeat' in the first paragraph should be struck as they confuse the meaning.  Sorry.

Is there anyone out there who knows the normal time between production test and announcement of same?  

I recognize that I'm suggesting that the timing of the announcement was delayed in order to maximixe the political impact.  This may not have been the case.  Either way, the facts of the so-called 'discovery' this year belie the claimed significance of the find.

A real problem lies with lazy journalism and concentration of media ownership.

and just a few weeks earlier  exxon etal announced a $ 110 million dry hole blackbeard or some such prospect
Hello Toilforoil,

Most Americans are totally unaware of the enormous scale of deepwater 'desperation exploration' ongoing throughout the world.

http://www.rigzone.com/news/article.asp?a_id=36156

Did the conversions: 2,400 meters of seawater = 7,874 feet, 7200 meters of drill depth = 23,622 ft or 4.47 miles.  The  hopeful potential of 6-8 billion barrels is approx 1/2 of the optimistic potential of the 15 billion barrels of Jack. Ideal working conditions in the GoM vs the cold, wet weather off Newfoundland.  My guess is that if icebergs come down this far: tugboats  will have to lasso them, then drag them away to prevent a berg from hitting any platforms.

Consider the Hibernia platform:
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The Hibernia platform is located off Canada's east coast, on the Grand Banks of Newfoundland. Hibernia is recognized as one of the most significant artic offshore developments.  It serves as a study in oil exploration and production under extreme conditions. Hibernia is the only platform in the world designed to withstand the direct impact from an iceberg.
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Famous last words? Consider this really close call:
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But one day in the 1980s, a complacent observer on a now-defunct floating rig somehow let an iceberg get to within five or six miles of the rig. Typically, bergs move at a clip of about one knot.

There was a mad scramble, Baker says. The weather was too rough to tow the iceberg. Three of the deckhands on one boat and two on another were washed around the deck and got hurt. The only option left was to try to pull the rig's eight massive anchors up and move the rig out of danger. But one of the anchor chains on the rig got tangled; there was no question of breaking free. It was far too late to deploy helicopters or use rig-to-ship baskets to evacuate the crew on the rig.

The guys on the rig were watching to see which way the berg was going, Baker says. At the last minute, the supply boats managed to pull the rig 100 meters sideways. The berg came straight over the wellhead where the rig had just been. That was the closest call. In times like those, says Baker, your heart rate starts going up and you hit maximum blood pressure. There are so many things that can go wrong.
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Consider the ERoEI of this Hibernia project with cool photos: PDF warning.

If the MSM actually reported on the many deepwater efforts it would scare the people.  Most sheeple act & think like all that is required is to just poke a hole in the ground safely onshore with a dinky rig and then petroleum products ready to use come gushing out of the ground.

Bob Shaw in Phx,Az  Are Humans Smarter than Yeast?

Deep water drilling technology has its own set of unique problems:

http://www.corrosionsource.com/CS2000/session04/paper0402/paper0402.htm

But basically, money cures all problems. If you have enough money, then you can do most anything until the value of the resource falls to: at, near or below the value of the money you wish to invest / risk.

I understand that Thunderhorse is subject to some corrosion problems as we speak.

Deep sea (High pressure solubility) corrosion should not really come as a surprise. The Titanic and the Bismark are disolving, the passengers and crew that made it to the bottom have already disolved. Ceramics do quite well though.

As with all things, Thunderhorse, Jack, etc. They are affected by the theory of diminishing returns. Some call it a law. Once you get beyond peak, you spend more and more money* chasing less and less value. It doesnt have to be oil. It could be a copper or gold mine; it could be the North Atlantic Sperm Whale population, it could be the Cod population in the North Sea or Grand Banks.

*Money is just another way of representing energy.

There isn't even one Jack, at least no significant amount of oil from there, as you can see by what happened to Thunder Horse.
The last few EIA reports a greater than expected build in distillates, mostly ultra low sulfur diesel- not heating oil.(Despite CNBC's analysis that this lowers worries about heating oil supply in the winter.) With the new regulations for all on road diesel to be ULSD on Oct. 15th, wouldn't this account for the build, similar to the dumping of unleaded just before the new reformulated gasoline regulations took effect in the spring of this year?