<DrumBeat: July 30, 2008 The Oil Drum Mainstream Dutch analysts foresee oil supply constrained world>

42 comments on When CHOPS are not a dinner menu, but for heavy oil production

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Millard Fillmore on July 30, 2008 - 12:01pm Permalink | Subthread | Parent | Comments top

The Venezuelans have 1 trillion barrels of oil, and much of it can be extracted for $1 a barrel? Um. Um. Um. Um. I realize it's not that simple....still. Um.

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Luminara on July 30, 2008 - 2:13pm Permalink | Subthread | Parent | Comments top

Once you've extracted the oil, you have to refine it into a usable form (ie into normal, lighter crude). That costs more money.

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HARM on July 30, 2008 - 7:23pm Permalink | Subthread | Parent | Comments top

$1 per barrel to extract? That's it, folks! Peak Oil has been officially CANCELLED for the forseeable future.

Fire up the Hummer production lines!
Pave over those organic victory gardens with fresh asphalt!
Let the American consumer know it's time to end the "psychological recssion" and start SPENDING!!

Regulars here should donate their Paul Erlich, Matthew Simmons & Kunstler books to the library and stock up on Julian Simon, Duncan Clarke & Larry Kudlow.

CRISIS IS OVER, PEOPLE --START CONSUMING AGAIN!!

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speedy on July 31, 2008 - 5:46pm Permalink | Subthread | Parent | Comments top

Yes good news. Time to get back to skydiving.
I'll guess I'll go back to reading junkscience.com and the CO2 problem now.

There is always something on the internet that can destroy the world as we know it.

You just have to use the FSE to find it.

Over and out.

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Pitt the Elder on July 31, 2008 - 7:29pm Permalink | Subthread | Parent | Comments top

$1 per barrel to extract? That's it, folks! Peak Oil has been officially CANCELLED

False Dichotomy Fallacy

There's a world of choices between "we're doomed" and "we're saved", and they're pretty much all more valid than either.

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The world has an enormous amount of heavy oil. Producing heavy oil requires an enormous amount of infrastructure. Infrastructure doesn't magically appear overnight, even if you have the money to pay for it.

It's not easy to get high flow rates from heavy oil.

It's entirely possible that the world will be producing increasing amounts of heavy oil for decades to come, and that doing so will have virtually no effect on the timing of peak oil. That doesn't make it a savior and it doesn't make it useless; it just makes it another factor to consider.

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HARM on July 31, 2008 - 7:50pm Permalink | Subthread | Parent | Comments top

You know I was being facetious, right?

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Heading Out on July 30, 2008 - 11:46pm Permalink | Subthread | Parent | Comments top

The quote was from 2006, and times and costs have changed considerably since then, but what I was trying to use the quote for was rather than showing how much they had, how slowly there were likely to be able to produce it.

As the remaining oil to be extracted goes from the thinner sweeter crudes to the heavier ones so it flows less easily and production problems will increase. Being able to produce something at low cost, if the yield is also slow will not be a great help in the future, even if the reserve is large.

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42 comments on When CHOPS are not a dinner menu, but for heavy oil production

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