72 comments on Horizontal and Vertical Well Production
Comments can no longer be added to this story.
| Show without comments | PDF version
72 comments on Horizontal and Vertical Well Production
Comments can no longer be added to this story.
| Show without comments | PDF version
Search The Oil Drum with Google
Support The Oil Drum
Recently on TOD:World
TOD:Campfire
- Thanksgiving Open Campfire Thread
- How Relocalization Worked
- How to Set Up and Run a Bicycle Repair Company
TOD:Europe
- Unique Times -- and the Future
- Peak Gold, Easier to Model than Peak Oil? - Part I
- Carbon Capture and Storage
TOD:Canada
- In this house, we obey the laws of thermodynamics!
- The Round-Up: October 24, 2008
- Compressed Air Energy Storage - How viable is it?
TOD:Australia/NZ
- The Bullroarer - Friday 27th November 2009
- International Energy Agency calls 'Peak' on OECD Oil Demand
- Australian Senate: Peak Oil motion defeated 31:6
TOD:Net Energy
Blogroll
Energy Sites
- The Coming Global Oil Crisis
- Die Off
- Dry Dipstick
- Energy Bulletin
- From the Wilderness
- Life After the Oil Crash
- Peak Oil Crisis
- Peak Oil News and Message Boards
- Powerswitch
- Rigzone
- Matthew Simmons
- Wolf at the Door
Environment & Sustainability Sites
- The Daily Green
- EcoGeek
- Eco Street
- Green Car Congress
- Green Options
- green.alltop.com
- Gristmill
- RealClimate
- Sustainablog
- Treehugger
- WorldChanging
Blogs
- Casaubon's Book
- Cleantech Blog
- Clusterf
k Nation (Jim Kunstler) - The Cost of Energy
- David Strahan
- Early Warning
- The Energy Blog
- European Tribune
- GraphOilology
- Health After Oil
- jeffvail.net
- Mobjectivist
- Peak Energy (Australia)
- Peak Energy (USA)
- R-Squared
- Resource Insights
Finance & Economics Blogs
- The Big Picture
- Calculated Risk
- The Crash Course
- Ecological Economics
- Econbrowser
- Environmental Economics
- Infectious Greed
- The Mess That Greenspan Made
- Mish's Global Economic Trend Analysis
Organizations
Peak Oil Primers
Beware email scams!
Beware email scams claiming to be from this site. We do not have any job openings. If anyone contacts you about a job at The Oil Drum, do not reply to them, and definitely do not give them any personal information or send them money. Read more here.
“The aim of every political constitution is, or ought to be, first to obtain for rulers men who possess most wisdom to discern, and most virtue to pursue, the common good of the society; and in the next place, to take the most effectual precautions for keeping them virtuous whilst they continue to hold their public trust.”
—James Madison, FEDERALIST #57 (1787)
User login
Contact
- Content: editors at theoildrum dot com
- Tech support: support at theoildrum dot com
Personnel
- Editors: Nate Hagens, Gail the Actuary, Prof. Goose
- DrumBeat Editor: Leanan
- Contributors: ace, Engineer-Poet, Heading Out, jeffvail, JoulesBurn, Sam Foucher, Robert Rapier
- TOD:Campfire: Glenn, Jason Bradford
- TOD:Europe: Chris Vernon, Euan Mearns, Francois Cellier, Jerome a Paris, Luís de Sousa, Rembrandt, Rune Likvern, Ugo Bardi
- TOD:Canada: benk, Libelle
- TOD:ANZ: Big Gav, Phil Hart, aeldric
- Emeritus: Stuart Staniford
- Technician: Super G
License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States License.
GAIA Host Collective
There are thousands (millions) of traders who try to explain price every day. Its the same for currencies, stocks, bonds and commodities. Explanations are most always poor.
During the oil price rises since 2003, the biggest "fundamental" reason for price rise had nothing to do with peak oil. Demand was increasing. Supply was also increasing, but capacity was not. What does Peak Oil have to do with it?
Once supply really begins to FALL more than one year in a row at ca. 4% will price be a "result" of Peak Oil. This could be next year. This could be 2012.
Peak: As WT advises, world exports are more important, fundamentally, to the oil price than supply. A lot of countries (e.g. KSA, Venezeula) are subsidizing internal consumption.
Right, at least at the moment that's true. But why not just call internal consumtion demand, even if it is subsidized (Iran, too btw.)? Again, it's still not "peak" right now which "dictating" prices. Right now we can still blame China...
Peak: Interesting enough, in light of the crash in oil prices is that if you look at the eia website their Saudi analysis as of August 2005 projects Saudi exports for 2007 approximately 40% higher than current. As of August 2005 they projected current (2007) Saudi production to be 11.5.
Why is it that we resent "our factories" which make "our products" paid for with "our debt" using "our oil?" Is it because some of the people who work in our factories would like to drive to work? Are they forgetting their place and getting too uppity?
If we don't want China to work for us all we have to do is boycott WalMark, KMart, Target, Best Buy, Home Depot, et al. Then China will stop using "our oil."
But since China is way more cost efficient using "our oil" (despite rumors claiming the opposite, the Chinese factory worker still does not drive an SUV), the Walmarts of this world are the cheapest source of high quality goods (oh, well... medium quality goods). Joe Average can not afford to buy the same products from American or European manufacturers.
Their labor costs are lower. In terms of efficiency using energy that is a totally different issue, and I suspect on the whole their energy efficiency is generally worse.
Higher energy use per unit of GDP *but*
that is normal. Poorer countries have lower GDP but also do more things with that GDP that require relatively more energy.
(example: Healthcare is 1/6th of the US economy, and relatively low energy intensity. It is a much smaller proportion of the Chinese or the Indian economy).
The question is whether the Chinese use 'best practice' on technology ie where the 2 economies are comparable, are they using as modern technology as the US?
In the typical exporting factory I would say yes. In terms of technology and productivity, the Chinese are up there with the best of them.
In the economy as a whole (including transport, power generation, domestic manufacturing, farming etc.) I would say no. For example their typical design of passenger car seems to be about 10 years behind the US.
One complication in the Chinese economy is that because they don't have a full market economy, the prices of energy may be distortedly low. This would seem to be particularly the case with electric power, but to a lesser extent with gasoline.